Thai’s Fit to Print” Late Edition
`
`““Allthe News
`
`Weather: Mostly sunny and mild today,
`northwesterly winds;
`clear
`tonight.
`Sunny and continued mild tornorrow.
`Temperatures: today 57-60, tonight 43-
`47; yesterday 45-64. Details, page A20.
`
`
`50 conta beyond 78 miles from New York City,
`VOL.CXXXV... No. 46,727 : Copyright © 1986 The New York Times
`except on Long Island.
`30CENTS
`
`|U.S. Says Navy
`SENATE APPROVES
`DEMOCRATIC CHIEF
`REAGAN'S REQUEST|442s Completed
`OF BRONX INDICTED
`Libyan Exercise
`QN BRIBE CHARGES
`TO HELP CONTRAS
`
`
`
`Ships and Planes Leave
`WHITE HOUSE WINS, 53-47| GulfAfter 188 Sorties
`
`
`COMPANY STOCK INVOLVED
`
`Friedman Accused of Paying
`Manes and AgencyOfficial
`to Get a City Contract
`
` The New York Times/Chester Higgins Jr.
`
`Pian Would Send $100 Million
`to Nicaragua Rebels With
`Delay on Bulk of Funds
`
`—
`
`By MICHAEL R. GORDON
`Special to The New York Times
`
`Senateroll-cali, page A4.—_——
`
`
`
`
`
`
`
`
`
`
`
`
`
`
`To Hold Libya ‘Responsible’
`President Reagan said in a speech in
`New Orleans that if Libya engaged in
`terrorist attacks on Americans,
`the
`United States would hold Libya ‘‘fully
`‘responsible.”’
`in a telephone
`President Reagan,
`conversation with the commander of
`the Sixth Fleet, said the fleet ‘‘has once.
`again served as the spear andshield of
`American policy in a troubled and vola-
`tile region.’”’
`Meanwhile, Administration officials
`said that Vice Adm. Frank B. Kelso 2d,
`commanderof the fleet, was a leading
`candidate of Mr. Reagan’s to become
`Chief of Naval Operations, the highest
`post in the Navy.
`The White House today released the
`text of a Presidential Jetter, sent to
`
`Continued on Page Al2, Column 5
`
`:
`
`WASHINGTON, March 27 — The
`Reagan Administration announced to-
`day that Navy ships and planes had
`completed their exercise in the Gulf of
`Sidra and had moved north of the gulf
`By M. A. FARBER
`region.
`By STEVEN V. ROBERTS
`Special to The New York Times
`During the operation, American
`Stanley M. Friedman, a former
`ships had operated in the gulf, south of
`deputy mayor whois the Bronx Demo-
`WASHINGTON, March 27 — The
`Col. Muammar el-Qaddafi’s ‘line of;
`cratic leader, was indicted yesterday
`Senate tonight narrowly approved
`death,” the northern boundry ofthe:
`on charges of bribing Donald R. Manes
`President Reagan’s request
`to send
`gulf, for 75 hours and Navy planes flew.
`and a Parking Violations Bureauoffi-
`$100 million to the rebels trying to de-
`188 sorties in the guif area, Defense;
`cial to obtain fraudulently a $22 million
`pose the Nicaraguan Government.
`Secretary Caspar W. Weinbergersaid;
`contract for a computer company he
`The vote was 53 to 47, as 42 Republi-
`today.
`:
`represented.
`cans and 11 Democrats supported the
`Administration officials
`said the’
`Mr. Friedman has long been re-
`
`President in what he has called one of————$$$
`three American aircraft carriers and:
`arded as one of the most aggressive
`the 27 ships accompanying them were
`and influential political figures in the
`taking up new positions in the Mediter-
`‘city. He was accused of secretly hold-
`ranean Sea north of the gulf.
`fing as muchas $1.4 million worth of the
`The carrier battle groups are ex-
`‘company’s stock for Mr. Manes, the
`pected to stay in the region for at least
`former Queens Borough President who
`several days so that they would be in
`killed himself this month, and for Geof-
`position to counter Libya should Colo-
`firey G. Lindenauer, wha, as deputy di-
`nel Qaddafi, the Libyan leader, order
`rector of the parking agency, pushed
`lsuccessfully for approval of the con-
`reprisal attacks or military raids, offi-
`cials said.
`jtract in 1984 with Citisource Inc.
`Mr. Friedman, who surrendered
`‘shortly before 8 A.M. at the office of
`;Robert M. Morgenthau, the Manhattan
`‘District Attorney, at 1 Hogan Place,
`jwas transferred two blocks by police
`‘van to the central booking facility at
`{1 Police Plaza.
`A Statement of Innocence
`
`
`
`
`
`
`
`
`
`Stanley M. Friedman being escorted from police van as he arrived at Police Headquartersfor booking.
`
`
`
`
`
`
`
`U.S. Blames New Form ofHeroin |(()RRUPTION STUDY
`For Outbreak of Overdose Deaths
`MAY LAST 2 YEARS}
`
`
`
`F.B.I. Official Sees Long-Term
`Review of City Government
`
`the major foreign policy tests of his
`second term. The request was opposed
`by 36 Democrats and 11 Republicans.
`Senator Richard G. Lugar, the Indi-
`ana Republican who heads the Foreign
`Relations Committee, said the Senate
`had adopted a ‘‘new corollary to the
`Reagan doctrine”’ that would increase
`pressure on the Sandinistas to negoti-
`-ate with the insurgents and respect the
`rights of their neighbors.
`Leading Democrat Is Opposed
`But Senator Jim Sasser cf Tennes-
`see, a leading Democratic spokesman,
`sharply disagreed, saying of today’s
`vote: ‘‘I think it takes us farther down
`the road to the intervention of Amer-
`The grim-looking, 50-year-old lawyer
`ican military forces.
`It signals the
`‘and politician, who only two months
`abandonmentof the last effort at a ne-
`ago was amonga select handful of the
`By JOEL BRINKLEY
`city elite to attend a private swearing
`gotiated settlement.”
`Special to The New York Times
`in of Mayor Koch at Gracie Mansion,
`President Reagan hailed the Senate
`outcome as he arrived in Santa Bar-
`WASHINGTON, March 27 — An un-
`draped a light-colored raincoatoverhis
`It is blamed for causing the first gen-
`usually potent and dangerous new form
`handcuffs. After his arraignment
`in
`bara for a 10-day vacation.
`eral increase in heroin use in more than
`of Mexican heroin is being spread rap-
`State Supreme Court, he issued a state-
`‘*! am deeply pleased by today’s vote
`five years, in part becauseits low price
`idly across the United States, Federal
`ment asserting his innocence and pre-
`in the Senate, and I want to express my
`has forced down other heroin prices.
`thanks to those who voted for aid to the
`drug enforcementofficials say. They
`dicting ‘‘vindication in a court of law.’”’
`The drug agencysays black tar sells
`By MICHAEL ORESKES
`say it has led to dozens, perhaps hun-
`freedom fighters,’”’ he said. ‘‘The Sen-
`At Mr. Morgenthau’s request, Gover-
`in someareasfor one-tenth the price of
`dreds, of deaths by overdose, as well as
`Investigations of corruption in the
`ate’s action is sure tosend a profoundly
`nor Cuomo appointed a special judge
`the heroin previously available, even
`to thousandsof injuries in the last year.
`New York City governmentare likely
`from outside the city to preside over
`reassuring signal to those fighting for
`though purity levels are as much as 40
`The new heroin, which users call
`the trial of Mr. Friedman. TheDistrict
`to go on for two moreyears, a key Fed-
`freedom in Nicaragua and Nicaragua’s'
`times higher.
`black tar because it resembles roofing
`eral
`investigator said yesterday, as
`threatened neighbors.
`Attorney said the appointment of Jus-.
`“It’s a very serious problem andit’s
`tar in color and consistency, is increas-
`Federal agents and prosecutors pursue
`tice David S. Ritter of Orange County
`In Nicaragua,
`the Sandinista Gov-
`getting worse,’’ John C. Lawn, head of
`Navy Pilots’ New Tactics
`ingly dominating the nation’s heroin|the prug Enforcement Administration,
`allegations about wrongdoing beyond
`would expedite the case, would signal
`ernment deplored the Senate vote as
`“immoral.’’
`its seriousness and would serve to dis-
`In its air attacks on Libyan missile
`markets. It is now sold in 27 states, up
`the Parking Violations Bureau.
`said in an interview. ‘‘Nineteen eighty-
`sites, the Navy used newtactics that
`from four in 1983, according to officials
`The special agent in charge of the
`The Reagan Administration also said
`pense firm, swift justice and the ap-
`six is not- going to be a good year for
`military analysts say enhanced the
`criminal division of the Federal Bu-
`of the Federal Drug Enforcement Ad-
`us.”
`pearanceof it. [Page B2.]
`ministration.
`safety ofits pilots. Page Al2.
`reau of Investigation’s New York of- |
`A Widening Scandal
`fice, James H. Yelvington, said that as
`The indictment by a Manhattan
`the city’s corruption scandal unfolded
`grand jury also named as defendants:
`in recent months, the bureau doubled,
`five officers of Citisource, who,
`like
`to 52, the numberof agents examining
`Mr. Friedman, each face up to 20
`the allegations of corruption.
`years’ imprisonmentif convicted. The
`“We Hope It Continues’
`action wasthelatest developmentin a
`“We have some areas of investiga-
`widening muncipal corruption scandal
`tion that we believe will be long-term,”
`that only two days ago brought major
`criminal charges against other former
`Mr. Yelvington said. ‘‘A lot of informa-
`tion has comein to us. We hopeit con-
`city officials.
`tinues. I anticipate these investigations
`The continuing investigations by
`Federal and local authorities have
`will go on at least two years.’’
`Various Federal and local prosecu-
`forced resignations of city officials,
`slowed the pace of municipal business
`tors said they, too, were continuing to
`and created a generally defensive at-
`pursue allegations.
`*‘We have a numberof very activein-
`mosphere within city government.
`The indictment yesterday, which is
`vestigations going,’. said the Manhat-
`tan District Attorney, Robert M. Mor-
`expected to be followed soon by even
`genthau, who brought bribery and
`broader charges on the Federal level,
`went well' beyond public speculation
`fraud charges yesterday against the
`that Mr. Friedman would be accused
`Bronx Democratic leader, Stanley M.
`
`Simplified Process Used
`The drug agency says the substance
`is manufactured and distributed by a
`new combination of amateur Mexican
`processors and smugglers, frustrating
`law-enforcementofficials accustomed
`to investigating Mexico’s more conven-
`tional drug-trafficking groups.
`Farmers in the states of Durango,
`Sinaloa and Sonora in northern Mexico
`are processingit themselves from their
`own opium poppycrops, using a simpli-
`fied process that accounts for the new
`heroin’s unusual appearance and high
`purity as well as its low price.
`In the United States, black tar sells
`on the street for as little as $2.50 for an
`average-size single dose of about 10
`milligrams. Conventional Mexican
`heroin sells for about $24 a dose.
`The increasing availability of black
`tar is leading to a nationwide decline in
`Continued on Page B2, Column 1
`Continued on Page B2, Column 2
`Continued on Page B6, Column 5
`
` Accord on $41 Billion Budget Reached in Albany
`
`By JEFFREY SCHMALZ
`New York Times
`Special to The
`
`Continued on Page A4, Column 3
`
`se"
`
`a,
`
`ee
`
`
`
`
`
`
`
`
`Associated Press
`
`Honduran soldiers arriving in an area near the Nicaraguan border where Sandinista troops were said to befight-
`ing Nicaraguan rebels. The Hondurans areto set up defensive positions and avoid contact with the Nicaraguans.
`
`Honduran Peasants Confirm Report of Battle
`
`
`
`By JAMES LeMOYNE
`Special to The New York Times
`
`“mMDODBD>
`
`
`Honduras. It was not clear why,
`if
`Tolentino Saenz, a 45-year-old peasant,
`there were so many dead, more bodies
`said. ‘‘They say there are many dead
`were not shown to reporters; one offi-
`and wounded.”
`CAPIRE, Honduras, March 27 —
`cial said the dead were scattered in
`Eight Honduran peasants told today of
`‘“‘They bombed and rocketed for
`rough terrain.
`heavy fighting near this area close to
`three days starting on Saturday,” said
`the border with Nicaragua and Hondv-|.
`But villagers here gave graphic de-
`ll-year-old Miguel Abram Soriano.
`ran soldiers showed reporters five
`.scriptions of the sounds of combat
`“‘The people ran because they say the
`Sandinistas entered.”’
`bodies that they said were Nicaraguan
`‘echoing across the jungled mcuntains
`soldiers killed inside Honduras.
`.and brokenvalleys of the region over a
`interviewed here
`Other peasants
`The peasants’ accounts and the
`[periodof days.
`gave similar accounts.
`bodies were the first evidence that
`“There were five days of fighting,’’
`Nicaragua Cites Rebel Losses
`journalists have been able to gather to
`oer
`“There is no question we have a
`support official reports that a large
`This tiny community is within three
`budget, and the budget will done on
`About New York.... BI Music.... C1,C3-4,C16
`Sandinista force attacked Nicaraguan
`miles of the Nicaraguan border and 10
`Obituaries .....
`time, by April 1,"" Mr. Cuomosaid in a
`ANTIQUES 0...cccetceeC28
`.
`Trade Deficit Shrinks
`Israelis Bomb Lebanon
`guerrilla bases near here five days ago.
`news conferenceat 10:30 in his office.
`
`miles from two large Nicaraguan guer-
`Around Nation..... Al6|Op-Ed...
`Journalists were not allowed, how-
`rilla camps.It is about 140 miles east of
`A rocket struck a town in northern Is-
`
`The trade deficit shrank by $4 billion
`Art... C30,C32-33,C36|Real Estate
`Details of the transit plan were not
`Books ... .C33|Restaurants
`
`ever, to go to the scene of the reported
`rael, and hours later Israeli Air Force
`
`the capital of Tegucigalpa.
`in February, in what economists saw
`disclosed butit was said to be basically
`Bridge...... .C33|Sports Pages ..A26-30
`
`fighting and did not
`interview wit-
`asaSign that the worstof the problem
`planes attacked Palestinian targets
`
`a proposal put forth earlier by Speaker
`{In Nicaragua,
`the Government
`nesses to the actual combat.
`Business Day.... Dl-14|Style ........c..se00 A24
`was over. Page D1.
`near Sidon, Lebanon. Page Al3.
`Fink. For the coming fiscal year, Mr.
`Crossword .. .C32|Theaters .C2,C12,C36
`
`said its army had inflicted heavy
`
`It may not prove possible to confirm
`.. C4} TV/Radio......C34-35
`Dance......
`losses on rebel forces and had de-
`Fink had called for allocating $28 mil-
`Arts Festival Set
`Cass Canfield Is Dead
`official accounts of as many as 200 San-
`
`.. B4| Washington Talk A22
`Day by Day
`lion more than the $134 million in aid
`Editorials............. A34| Weather.........-. A20
`dinistas and 40 Nicaraguan guerrillas
`Continued on Page A4, Column 3
`The opening date of the first New
`Cass Canfield, who became one of the
`that the Metropolitan Transportation
`Movies C5,C8,C14,C22|Weekender Guide C)
`dead in heavy fighting 10 miles inside
`York International Festival of
`the
`country’s leading book publishers in
`News Summary andIndex, Page B1
`FOR THOSE FAVORING CREMATION WOODLAWN
`WAS THIS COPY OF THE TIMESdelivered to you?
`SEE MOBIL'S AD FOR “PRIDE OF PLACE" Tv
`Performing Arts was officially desig-
`his more than 40 years with Harper &
`Homeandoffice delivery is available in many U.S.cities.|CEMETERY OFFERS A FREE PAMPHLET GIVING
`Classified AdS .......... BG-16|Auto Exchange...... A31-33
`PROGRAM SECT.A. PAGES Al0 AND Al1.—ADVT.
`Get details bycalling tolt-free 1-800-691-2500—ADVT. COMPLETE INFORMATION. CALL 212-970-0590—ADVT.
`nated as June 13, 1988. Page C36.
`Row, died yesterday at 88. Page D15.
`
` ‘The New York Times
`
`ALBANY, March 27 — Governor
`Cuomo and leaders of the Legislature
`reached agreement tonight on a $41.4
`billion state budget,
`including in-|
`creased aid for the New York City
`transit system intended to help freeze
`the fare through 1987.
`The spendingplan,for the fiscal year
`that begins Tuesday, also includes $15
`million to start a state program to
`reimburse elderly people for prescrip-
`tion drugs. Details of the program,
`‘which seniorcitizens’ groups have been
`lobbying for intensely in this election
`year, remain to be worked out.
`an-
`The budget agreement was
`nounced at 10:05 P.M. after a hectic 24
`hours of negotiations by staff aides in
`an effort to meet the approaching end
`of the fiscal year. The accord tonight —
`by the Governor, Assembly Speaker
`Stanley Fink and Warren M. Anderson,
`leader of the Senate’s Republican ma-
`jority — means thatit is likely bills can
`be printed and voted on in time for the
`deadline of midnight Monday.
`Transit Plan Tied to Fink
`
`Authority and upstate transit systems
`got this year.
`That figure is relatively low because
`the current M.T.A.financing plan does
`not expire until Dec. 31, and the extra
`aid would not go into effect until Janu-
`ary, in the last quarterof thestate’sfis-
`cal year. For the next fiscal year,
`beginning April 1, 1987, the extra aid
`would grow to $112 million.
`
`‘Eliminates Uncertainty’
`“I'm very glad, and Stanley Fink is
`owed a great tribute by the straphang-
`ers,’’ Robert R. Kiley, the chairman of
`the M.T.A., said of the plan.
`‘‘This
`eliminates what would have been in-
`credible uncertainty, which is desira-
`ble.’’
`Speaker Fink had pressed for in-
`’ creasing state aid to the M.T.A. and for
`resolving the issue now,rather than fol-
`lowing the usual course and delaying a.
`
`Robert R. Kiley, M.T.A. chief,
`Continued on Page B5, Column6
`welcomed budget compromise.
`
`INSIDE
`
`Zynga Ex. 1020, p. 1
`Zynga v. IGT
`IPR2022-00368
`
`Zynga Ex. 1020, p. 1
`Zynga v. IGT
`IPR2022-00368
`
`

`

`D2
`
`THE NEW YORK TIMES, FRIDAY, MARCH 28, 1986
`
`
`
`It seems too good to last, but it is lasting.
`
`Amid Tension,
`Euphoria Stays
`= Street. Market sages, remembering 1929
`
`UPHORIAis the order of the day on Wall
`
`
`
`Niculae Asciu
`
`a year. Thatshift implies greater economic growth
`for the industrial countries. John H. Lichtblau,
`president of the Petroleum Industry Research
`Foundation in New York, estimates that the $10 oil
`price drop could mean an increase of as much as
`one extra percentagepointin the rate of growth in
`the industrial world’s real-gross national product.
`Enzo Grilli, assistant director of the World
`Bank’s department of economic analysis and pro-
`jections, said falling oil prices were positive for the
`industrial countries for three basic reasons: the
`and other disasters, tell us that euphoria al-
`waysself-destructs and that belief in a ‘‘new era’’
`improvement in their terms of trade, with the
`is always the beginning of the end.
`prices of manufactured goodsrising relativeto oil
`Butis there a legitimate case for euphoria — or
`and other commodity prices; the ‘‘wealth’’ effect
`at least confidence that the markets are reacting .
`resulting from consumers’ having more moneyleft
`correctly to a remarkable combination of positive
`in their hands as they pay outless for energy, and
`developments that override the negatives? And if
`the disinflationary effect on generalprice levels re-
`this is not a new era, in the sense that nothing can
`sulting from declining oil prices.
`£0 wrong on the road to riches, is there good reason
`It was those disinflationary effects that appeared
`‘to believe that the economy and the stock market
`to dominate the gold marketthis week, despite the
`tensions in the Gulf of Sidra and elsewhere in the
`can continueto roll onward and upward for several
`is not a carte].’’ The scoffing reaction of those from
`months to come? Stocks rose again yesterday.
`Middle East as well as in Central America. Gold,
`non-OPEC nations was that the speaker should
`One dramatic indicator of worldwide confidence
`With its ancient history as a medium of exchange
`have said OPECis not a cartel ‘‘anymore.”’ Like
`and store of value, remains an alternative to cur-
`in the economy this week was the behavior of the
`‘all such combinations, they felt, OPEC certainly
`rency and, hence, is the best indicatorof inflation-
`foreign-exchange and gold markets in the face of
`looked andacted like a cartel when prices wereris-
`ary expectations.
`fighting between the United States and Libya in the
`ing but, as commonly happensto cartels, fell apart
`Gulf of Sidra and the events in Central America
`In the view of Jeffrey Christian, senior analystof :
`when prices were falling.
`and South Africa: The dollar rose sharply, and the
`the commodity research group of J. Aron & Com-
`price of gold fell. Ordinarily, in times of rising in-
`The present price of crudeoil, in the vicinity of
`pany, a division of the Goldman, Sachs Group, the
`$14 a barrel, said Tor Meloe, Texaco’s chief econo-
`ternational tension, holders of foreign currency
`current weaknessof gold — it fell again yesterday
`rush into gold as a safe haven.
`— is further evidence of the market’s belief that
`mist, is a short-term result of the fact that ‘Saudi
`Doubtless some did, but they were overwhelmed
`inflation is still coming down.
`Arabia is no longer a patsy,”’ no longer willing to
`‘by others who, seeing the clash off Libya as just
`play the role of swing producer by absorbing the
`And thattranslates, especially with the help of a
`one more blowupin a highly troubled world but un-
`output cut neededto stabilize prices.
`more stimulative United States monetary policy,.
`into lowerinterest rates. The cut in the Federal Re-
`likely to lead to World War III or even a good-sized
`The consensus of the oil experts at the U.N. meet-
`regional war, focused on a more important event:
`serve’s discount rate, in the midst of the struggle
`ing wasthat the price of oil would stay volatile, os-
`the continuing decline of the priceof oil and the ero-
`over policy and powerthat led to Preston Martin’s
`cillating within a range of $10 to $20a barrel. Only a
`sion of the powerof the Organization of Petroleum
`departure from the Fed, is likely to be followed by
`few thoughtit might break below $10 becauseof the
`Exporting Countries.
`future rate reductions, here and abroad.
`danger that too low a price would bring political
`So a remarkable concatenation of events has oc-
`At a conference on the impact of declining oil
`retribution upon the Saudis from other OPEC
`prices at the United Nations in New York, Luis En-
`curred:
`falling oil prices, sustained economic
`members, possibly even invasion from Iran.
`rique Berrizbeita, minister counselor for petro-
`growth in the United States and other industrial
`leum and economics at the Venezuelan Embassy in
`Declining oil prices have brought about an enor-
`countries, lower inflation, lower interest rates, a
`Washington, told a group of bankers, economists,
`mous shift of income from oil producers to consum-
`lower dollar and surging stock and bond markets.
`oil company executives and diplomats that “OPEC
`ers, amounting to close to an estimated $180 billion
`
`etireme
`t shou
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`the toughestjob you'll ever have.
`
`Soonerorlater, you're going to be faced with a job you might not wantto face
`alone. Making the most of the money you've saved for retirement.
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`MEMBERS/PC © 1986 DEAN WITTER REYNOLDS INC
`
`|EXECUTIVES
`
`
`
`BUSINESS PEOPLE
`Exxon Names Head
`OfNew Global Unit
`
`The Exxon Corporation said yester-
`day that Richard G. Reid, president
`of Esso Europe Inc., a subsidiary,
`had been named president of the new
`international oil and gas organiza-
`tion,
`
`Mr. Reid, 64 years old, will coordi-
`nate all of Exxon’s activities outside
`the United States and Canada, oil
`analysts said.
`The new group consists of Esso Eu-
`rope Inc.
`in London; Esso Inter-
`America Inc. in Coral Gables, Fla.;
`Esso Eastern Inc. in Houston; Esso
`Middle East in New York; the Exxon
`International Company in New Jer-
`sey, and Esso Exploration Inc.
`in
`Houston. The new group will be based
`in New Jersey.
`“We feel that by putting the compa-
`nies together, we can get not only
`more efficiency but respond much
`more effectively to changes in the in-
`dustry,’’ Mr. Reid said yesterday ina
`telephone interview.
`International markets accounted
`for more than half of Exxon’s 1985
`worldwide earnings, according to
`Sanford Margoshes, who follows
`Exxon for Shearson Lehman Broth-
`ers. Exxon’s earnings for 1985 were
`about $4.9 billion; foreign explora-
`tions brought in approximately $3.5
`billion after tax but before alloca-
`tions.
`
`“This is an indication that Exxon is
`truly a global institution,’’ Mr. Mar-
`goshes said, ‘“‘and those areas outside
`the United States are expected grow
`more rapidly.”
`A native of Canada, Mr. Reid at-
`tended the University of Alberta,
`where he majored in chemical engi-
`neering. He joined Exxon’s Imperial
`Oil Ltd. in 1949 as a chemist and held
`various engineering and supervisory
`positions.
`In 1963, Mr. Reid was assigned to
`the coordination and economics de-
`partment at Imperiai’s headoffice in
`Toronto. He became managerof that
`department in 1965 and was trans-
`ferred to the Exxon International
`Company in 1967 as assistant man-
`ager of supply and transportation.
`Mr. Reid returned to Imperial in
`1969 and held several management
`positions. He was named presidentof
`the Imperial in 1974, and joined Esso
`Europe as executive vice president in
`1975. Mr. Reid was elected president
`of Esso Europe in 1978.
`Under the new organization of the
`company, Exxon will operate under
`three major divisions: Exxon USA,
`Imperial Oil in Canada, and the new
`internatinal oil and gas group, which
`is unnamed.
`Mr. Reid, who is married and has
`five children, now lives in London.
`
`President Buys Stations
`Of Metromedia Radio
`
`Thirty years have passed since
`Car! C. Brazell Jr. first sat in front of
`a microphone as a 15-year-old news-
`caster.
`Since then, Mr. Brazell has served
`as a reporter under a news director
`by the name of Dan Rather and has
`held senior news and management
`assignments in major cities.
`Now, as president of Metromedia
`Radio,he is leading an investor group
`that has agreed to buy nine radiosta-
`tions and a Texas radio network from
`Metromedia Inc. in a leveraged buy-
`out,
`The price — $285 million — is be-
`lieved to be the largest amount ever
`paid for a groupof radio stations. Six
`of the stations are in country’s top 10
`radio markets and all nine have a col-
`lective audienceof about 44 million.
`
`
`“There aré so many well-estab-
`lished stations in some of the finest
`markets that I can’t imagine a better
`opportunity,”’ he said.
`The radio stations are VWNEW-AM
`and WNEW-FM in New York,
`WMMR-FMandWIP-AMin Phliadel-
`phia, KMET-FM in Los Angeles,
`WASH-FM in Washington, WOMC-
`FM in Detroit, KRLD-AM in Dallas
`and WWBA-FM in Tampa-St. Peters-
`burg, Fla.
`Metromedia’s sale of radio stations
`is just the latest movein casting offa
`variety of businesses. It previously
`sold its seven television stations to
`Rupert Murdoch for $1.55 billion, its
`Harlem Globetrotters and Ice Ca-
`pades for $30 million and its outdoor
`advertising business for $710 million.
`Mr. Brazell started in radic on a
`bilingual (English and French) radio
`Station, KVOL in Louisiana. In 1959,
`he joined KTRH in Houston, where he
`worked for Mr. Rather, now the CBS
`anchorman.
`Mr. Brazell came to Metromedia in
`1969 as an anchor at KLACin Los An-
`geles and worked in various news and
`management positions at Metro-
`media radio stations in Washington,
`New York, Dallas and Detroit. In 1982
`he was named western vice president
`of Metromedia Radio and became
`president in 1982.
`Mr. Brazell said he does not plan to
`change the operations of the radio
`Stations ‘‘because most of the neces-
`Sary alterations have already been
`made.”’
`“‘Our philosophy has been to oper-
`ate a quality radio station and to
`stress generating revenues while
`holding down expenses,’’ he said.
`Mr. Brazell
`is married to Susan
`Ziller Brazell, who is vice president
`and national sales manager of Katz
`Television. The couple live in Red-
`ding, Conn., and have four children.
`Calvin Sims
`
`
`®@ Irving Trust Co. has elected Witold
`S. Sulimirski executive vice president
`and managerof its Middle East and
`Africa Group.
`® Kaiser Engineers Inc., Oakland,
`Calif., has elected Zoltan A. Stacho
`executive vice president.
`@Jean Laporte USA Inc. has ap-
`pointed Edmée Mirambell executive
`vice president and director of U.S.
`distribution.
`
`@MacGregor Sporting Goods Inc.,
`East Rutherford, N.J., has elected to
`its board Kenn S. George, group vice
`president for the Texas North Region
`of American Medical International.
`
`® Mellon Bank Corp., Pittsburgh, has
`nominated to its board Charles F.
`‘Merrill, Donna R. Ecton, Edward A.
`Montgomery Jr., Vincent A. Sarni,
`David S. Shapira and Quentin E.
`Wood.
`
`Quotron Expects Board
`‘To Reject Citicorp Bid
`
`said last
`Quotron Systems Inc.
`night that its directors would prob-
`.ably reject the $19-a-share cash offer
`made by Citicorp.
`Quotron apparently saw a number
`of obstacles to a successful merger,
`quite apart from the question ofprice.
`These included unfavorable reactions
`from someofits largest customers.
`Quotron,
`a
`Los Angeles-based
`provider of
`financial
`information
`,whose 80,000 terminals are used by
`stockbrokers and institutional inves-
`tors worldwide,said its board would
`continue to evaluate the bid in col-
`laboration with its Wall Street advis-
`er, Goldman, Sachs & Company.
`But in a statement issued after two
`days of deliberations, Milton. E.
`Mohr, Quotron’s chairman and chief
`executive, said a ‘“‘developing consen-
`sus” of the Quotron board was that
`the Citicorp bid, made March 18, was
`‘‘not adequate.”’
`The Citicorp offer was for Quo-
`tron’s almost 35 million outstanding
`shares, or about $680 million. Mr.
`Mohrsaid Citicorp had not indicated
`that it would raiseits bid, and he said
`he had not heard from Citicorp since
`the offer was made. Citicorp said it
`would not comment.
`Mr. Mohr said Quotron’s six direc-
`tors had considered ‘‘a number of
`possible future courses of action for
`the company,” including remaining
`independent or. combining with an-
`other organization. His statement
`went no further.
`In a telephoneinterview afterward,
`however, Mr. Mohr said the board
`had a numberof concerns about the
`Citicorp bid unrelated to price.
`In particular, he said there was
`concern that Quotron, if it merged
`with Citicorp, might not be able to
`proceed with a business venture in-
`volving Shearson Lehman Brothers
`Inc. Shearson, a Citicorp competitor
`in certain markets, has reportedly ex-
`pressed concern in recent days that
`some of its business plans might be-
`
`come known to Citicorp if Quotron
`combinedwith the bank holding com-
`pany.
`Beyondthat, Mr. Mohrsaid, it was
`not clear that Citicorp could improve
`Quotron’s information services. A
`merger would need the Federal Re-
`serve Board’s approval, hesaid.
`Some Wall Street analysts, mean-
`while, have suggested that the Fed
`mightrestrict Citicorp’s supplying of
`financial data to Quotron given the
`laws limiting the activities of bank
`holding companies. Quotron also has
`a complex noncompete contract with
`Telerate Inc., another provider of
`financial
`information,
`that
`could
`makeit legally difficult for Citicorp
`to feed data to Quotron. And Merrill
`Lynch & Company, Quotron’s biggest
`customer and another Citicorp com-
`petitor, might frown upona Citicorp-
`Quotron merger.
`“That is certainly be one of the ele-
`ments that had to be considered,”
`Mr. Mohrsaid.
`The Quotron response caught ana-
`lysts by surprise. Many of them had
`considered the offer generousin light
`of
`the intense competition taking
`shape in the information industry.
`Additionally, few expect another bid-
`der to emerge for the company.
`What
`is more, Quotron had been
`soliciting offers. According to Louis
`M. Brizzolara, an analyst with Rowe
`& Pitman of San Francisco, Quotron
`hired Goldman, Sachs last year to
`consider alternatives for the compa-
`ny’s future, including a merger.
`
`
`Good Friday Closings
`The nation’s stock and commodity
`markets will be closed today in ob-
`servance of Good Friday. The credit
`markets will also be closed, as will
`mostforeign stock markets. Govern-
`ment offices and most businesses,
`however, will be open.
`
`Zynga Ex. 1020, p. 2
`Zyngav. IGT
`IPR2022-00368
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`Zynga Ex. 1020, p. 2
`Zynga v. IGT
`IPR2022-00368
`
`

`

`Quotron Expects Board To Reject Citicorp Bid
`New York Times (1923-); Mar 28, 1986; ProQuest Historical Newspapers: The New York Times with Indexpg. D2
`
`Zynga Ex. 1020, p. 3
`Zynga v. IGT
`IPR2022-00368
`
`
`
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`
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