The Herald Statesman from Yonkers, New York • 13

SECTION Slocks B2 Newsletter B2 NASDAQ B3 Owwett WHtchwtar NeWipapanWedneKtey. February 12, 1986 All-star lawyers debate Brieant's pro-Texaco ruling ByBMVtasJe Staff Writ Dogged clerk thins the herd of legal beagles By Bill Waste Sta Writs? The clash of legal talent began before the bearing did. In a chaotic 10-ininute preiade to Tuesday's Texaco-Peonzoil case, a lack of seating hi the forced both sides to cut some players from their teams, of Ptnoxoil Co. asked a federal appeals 1 1 flnancial Bra- court Tuesday to keep the H) C) 0 XJOOOCX PeBHaou, with IS lawyers present, and Texaco, with 14 attorneys hi court, were taking up too much space. And so a clerk for the Second District VS.

Court of Appeals threatened to clear the lTtk-floor courtroom if each me on Texaco Inc. while the two oU companies continue their legal fight' The latest rand hi the battle over Texaco's acqnisitiaa of Getty Oil Ca in 1914 centers on the Jan. 11 ruling by federal Judge Charles Brieaat in While Plains that freed Texaco from potting a III billion bond while appealing a Texas jury's decision that it broke up a PemzoU-Getty merger A three-Judge panel of the Second Circuit Court of Appeals in Manhattan heard two hours of arguments as Penmoil sought to overturn Brieant's decision, while Texaco claimed the tower court's ruling had saved the Harrison-based oil giant from bankruptcy. The Judges took -the matter under advisement, but may take weeks to decide the issue that both companies agree will weigh heavily in Texaco's appeal of the $11.1 billion damage award won by Pen- did not trim its ranks to II Attorneys' tempers frayed as the clerk repeatedly asked for a show of hands, counted the number of lawyers, and ordered further cuts. While the chief lawyers tried to decide who should go, more than 100 spectators waited hi an outside hallway for a chance to watch the latest chapter in the corporate feud.

Some observers had arrived at the specious courthouse hi Foley Square three hours before the lfcM am hearing was due to begin. A section of the courtroom bad been reserved for the press and both' sides' large legal contingents, but. it wasn't enough. At stake is Texaco's financial future while it appeals the verdict, but also PemooU's bargaining power in negotiating any settlement in toe case. Brieaat had said Texaco would be irreparably harmed if it had to post a bond equal to the damage award, as required by LIGHT READINGS batch of tho etushre fountain of Hgtit-bulb a tachniclan records durtbtttyclsta on a 1 ahapad btfiDS at the North Amartcan Pttiupi Ca plant in Uttlt Rock, Ark.

The company uys its Please see CROWD on page B2 TEXACO on page B3 iMMrlO-wattafS, wtiiostM far from BUSINESS BEAT proud pa of new Pamper according to Daniel Meade, who follows The NEW YORK Proclaiming that it has "cracked the code on diaper rash," Procter Gamble Ca is introducing, saper-absorbent diaper, Ultra Pampers. Tbe new product has already been shipped stores east of tbe Rockies and should be available across the country in March, said Richard Nicolosi, vice president and general manager of the the company's paper products division. The Cincinnati-based company hopes tbe new product will solidify its leadership in the $2.4 billion disposable diaper derson of PAG's paper products division, found that damage to the skin caused by prolonged exposure to wetness contributes to the development of diaper rash. The new diapers, which are thinner than" the traditional Pampers product" address that problem with an absorbent material that converts liquids into a get The diaper then stores the gel away from the baby's skin. Procter Gamble will continue to sell the traditional Pampers because "some, people prefer a thicker diaper," Nicolosi said.

Ultra Pampers will be priced about tbe same as Pampers, The national rollout will be supported by advertising whn tbe theme line: "Even when they're wet they're Procter Gamble already has about So percent of tbe disposable diaper nidus-' try with its Pampers and Luvs brands, the company (or tne investment nnn First Boston Corp. in New York. Kimberly-Clark based in Dallas, is second with about 24 percent thanks to its Hug- gies diapers, he said. Meade said Procter Gamble's share of the disposable diaper market had dipped to about 45 percent last summer, but helping lift the share once again was tbe introduction of a special Pampers with a new waistband the company says better contains wetness. Procter A- Gamble blamed heavy investment new products last summer in reporting a decline in annual profit for fiscal 1915, tbe first such dip since 1952.

Nicolosi said tbe company has invested about 1500 million on capital improvements to the company's diapering facilities and that a "substantial part but less than half" of that investment was for development of the new diapers. PEMN CCNTftAL CORP. plans to spin off its Marathon Manufacturing Ca, a maker of oil rigs and heavy equipment that in IMS contributed 2M million, or about 11 percent, of the company's $2.53 billion sales. Penn Central said its board had authorized management to develop a plan for the spinoff, which still would need final board approval. The new, publicly held company's officers bad not been determined, she said.

Currently, the Marathon division of Penn Central is headed by Charles B. Seiss the unit's president Penn Central Chairman Alfred Martinelll said the Greenwich company plans to shed the unit because it is "unrelated" to Penn Central's core businesses of telecommunications, defense and cncigy. The company also said Tuesday it has settled a dispute with the IRS concerning its 1N1 use of some tax-loss carryovers. RICHARD CUtPSADOLE has been promoted to senior vice president for Ceres Abstract Corp. have merged to PreciseCeres Abstract a title insurance agency representing six major title insurance companies.

Precise Abstract was founded in 1972 in White Plains by Gerard Canavaa. Ceres was founded inlMJ by Iris Block, who was formerly associated with Citibank attorney Leslie Plump and is involved In the title business on Long Island. The merged firm is located at One Chase Road, Scarsdale. JOANNE PAUSI of New Rochelle was promoted to program associate for the Council For The Arts In Westchester. Pausi, formerly administrative assistant, will be responsible for press correspondence and interaction, information services and continued administrative support to tbe executive director.

Palisi Joined the White Plains-based council in IMS. The private, nonprofit organization provides programs and services for tbe artists and audiences of Westchester. BLUM CO a handbag firm which had been at 32nd St in Manhattan, has Nicolosi told a news conference in New York that the diaper was developed by Procter It Gamble scientists after a five-year study. 'The study, described by Deborah An and secretary to the board of Eastern Savings Bank. Clapsaddle, aTappan IBM seeks mainframe rebound1 formerly vice president in charge of personnel and operations.

Meanwhile, Louis Bruni has Eastern Savings as assistant vice president for the real estate and mortcace department. Bruni, a Cornwall resident, came from Crossland Savings Bank in Brooklyn. Eastern Savings has offices in ft. moved its warehousing, distribution and some executive offices to 21 Saw Mill River Road in Yonkers, retaining a showroom and offices on Fifth Avenue. The move was nude possible through a Yonkers Industrial Development Bond, according to Ernest Blum, chairman.

Blum said his firm decided to leave Manhattan because "the increase in rent and the cost of shipping out of New York had become prohibitive." Blum's Mister Ernest, Fortrend and Loredana divisions import handbags from" around tbe world, tacuxUng Italy and the Par East PETER CARNAHAN of Port Chester was named director of food and beverage for White Plains-based La Reserve and its Cornicbc Restaurant Hnt primary responsibility will include menu selection, purchasing and presentation. Camahan has been affiliated with Reserve since 1983, serving as director of purchasing and, until his recent promotion, as assistant director of food and beverage. In nine years with the Hilton hotels, he held various management positions in food service and purchasing for the organintknrs Rye Town, Fountainbleu and Meadowlands hotels. In another appointment Kathleen Hansen, a New Jersey resident was named director of catering, assuming responsibility for tbe development and planning of all meeting and banquet functions. During a three-year tenure with La Reserve, she has served as conference coordinator and then assistant director of catering.

,0 Jets sit My at ttia Miami rusngars of Arrow Air, But firm involved in tha Newfouncaand charter crash that kMled 24t U.S. soldiers. Airline cuts staff, files for protection Page B2: By Peter Coy The Associated Press NEW YORK IBM Corp. gave new life to its line of large mainframe computers Tuesday by introducing some new models and cutting prices on others. Although IBM dominates the world market for mainframes, last year's slow US.

sales of the big machines contributed, to the Armonk-based company's first annual profit decline since 1979. IBM earned MM billion in 1M5, down 1.4 percent from H.58 billion a earlier. IBM announced two smaller models of its most powerful mainframe, tbe 1090 "Sierra which has sold well since it was introduced last year. It also doubled the possible storage capacity of existing 2090 models and announced upgrades for its smallest line of mainframes, the 4311. The upgraded 4311s wiU offer about 23 percent better performance than the old ones for slightly lower prices, IBM spokesman Rick Basse said.

Tbe improvements will make IBM a more dangerous competitor for other makers of small mainframes and super-nunicomputers such as Digital Equipment and Date General, said Rick Martin, an analyst for Sanford C. Bernstein A Co. IBM has fewer competitors at tbe top end of the mainframe business and cut its prices there by less, Martin said. IBM reduced the purchase price of Its existing SMOs by about II percent It usually cuts mainframe prices about 14 percent a year, Martin said. IBM'S Sierra competes with big mainframes from Burroughs, Sperry, Honeywell, Control Date and Amdahl.

IBM also announced a 21 price cut on its older 208X mainf rames. Deep cuts hit Kodak ROCHESTER The Eastman Ko Westchester, the Bronx, Nassau and Suffolk. OUN CORP. and Church Dwight Ca Inc. have signed a letter of intent to enter the poUssium chemical business.

1 The recent restructuring in that industry has created the need for a new supplier, and the companies plan to be selling product this summer. Stamford-based ttn to a inajee producer of caustfc soda and chlorine, so there is the option to obtain product by converting an Olin -facility. Funded in New Jersey-based Church Dwight is a supplier of sodium bicarbonate and ammonia-based goods under the Arm A Hammer brand. riNCKJWATfUX, the automated security products maker headquartered in White Plains, has introduced its 3tand Alone" Ridge Reader, which provides fingerprint access control without a computer. The reference fingerprints for up to Ml authorized persons can be stored electronically in 1he desk-type device.

PRECISE ABSTRACT Ca Inc. and that 700 jobs in tbe Rochester area win be eliminated. Those job cuts as weU as 500 announced Jan. 17 will be part of the 10 percent worldwide reduction in the work force, which numbered 12SJ50 at tbe end of 19S5. Richard Schwars, first vice president of E.F.

Hutton A Ca in New York City, said, "I think that given the situation; they're doing what they have to da Tbe speed with which they're doing this indicates they saw something in the fourth quarter results. I think they had to get greater productivity and shrink the bead count" Kodak stock fell 2 to 41 Tuesday New York exchaiuje trading. dak Ca, its earnings off by 27 percent the first nine months of 1985, announced a major cost-cutting program Tuesday that will eliminate to 13,000 Jobs around tbe world. In addition to the 10 percent workforce cut JCodak will reduce expenditures by percent The cutbacks by tbe giant photographic company also will void salary increases for tbe firm's 130 top executives, including corporate officers, and calls for review of a Wage dividend plan for its 19.100 U.S. employees, said spokesman Henry Kaska.

Kodak simultaneously announced KENNETH HAMLET president of tbe Holiday Inn Hotels chain, will address the County Chamber of Commerce at a Friday luncheon meeting at the Holiday Inn Crowpe Plaza HoteL Hale Street in White Plains. Hamlet is responsible for overall operation of tbe worldwide hotel chain, headquartered in -Memphis, Tens. For reservations to tbe County Chamber's 72nd annual luncheon meeting, which will include a statenrf-the Chamber address by chairman James OToole, can 941-2110..