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April 09, 1998

* The American Stock Exchange's board unanimously approved the final terms of its agreement to be acquired by the National Assn. of Securities Dealers, clearing the way for a vote by exchange members. Two-thirds of the 864 Amex seat holders must approve any merger, and many members remain opposed to the agreement, traders say.

* The Securities and Exchange Commission named Richard Walker, the agency's general counsel since 1995, as enforcement director. Walker, 47, will replace William McLucas, who is leaving to join a law firm after eight years at the SEC. Walker is expected to assume the post, widely regarded as the SEC's No. 2 position, in the next few weeks. He joined the SEC in 1991 as director of its regional office in New York.

* Boeing Co. said it's reevaluating the introduction next month of its 100-seat jetliner, the 717-200, because of cracks in the engine blades being built by BMW and Rolls-Royce. The planes, Boeing's version of the MD-95 acquired with the buyout of McDonnell Douglas Corp., are being manufactured at the former Douglas Aircraft Co. factory in Long Beach.

* SBC Communications Inc. said it reached tentative agreements with the Communications Workers of America for contracts covering 74,000 of the phone company's workers. The three-year pacts must be approved by union members, including 34,000 Nevada Bell and Pacific Bell workers in Nevada and California.

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