December 23, 1987 |
Sony Corp. said today it has received approval from both the U.S. and Japanese governments for its purchase of the CBS Records Group, the world's largest record company. Japan's leading electronics and audio-visual equipment manufacturer announced in November it had reached agreement with CBS Inc. to purchase its records group for $2 billion.
April 7, 1987
The Morris Township, N.J.-based company said it will sell the electronics businesses for $479 million to Lanesborough Corp., a privately held chemical concern. Redwood City, Calif.-based Ampex Corp., makes audio-visual equipment, systems and magnetic tape for the broadcasting industry. The sale is expected to be closed by the end of May.
February 21, 1989
Audiotronics said its loss in the second quarter, which ended Dec. 31, narrowed to $237,000 from $301,000 a year earlier. Sales for the North Hollywood company, which designs and sells audio-visual equipment, rose 40% in the period from a year earlier, to $1.6 million. Audiotronics said it is resolving quality problems associated with shipments from some of its overseas suppliers. For the six-month period, the company lost $517,000, compared to a loss of $449,000 in the year-earlier period.
March 30, 1989 |
Sales at 255 major department stores across Japan in February gained 6.2% over a year ago to $4.16 billion, the Japan Department Stores Association reported. The association said the steady growth was attributable to robust personal spending. There were fewer workdays in the month because stores were closed Feb 24, the day of the funeral of Emperor Hirohito. Sales of audio-visual equipment decreased 3.5% because of purchase restraint ahead of tax reductions that start April 1, they said.
February 16, 1988
Audiotronics said it lost $301,000, or 26 cents a share, in the second quarter ended Dec. 31, reflecting higher costs for materials caused by the weakening dollar, delays in shipment of parts from suppliers and a soft audio-visual market. The North Hollywood company, which makes audio-visual equipment used mostly in classrooms, said its sales fell 17% to $1.1 million in the quarter. In the year-earlier period, Audiotronics lost $12,000, or 1 cents a share, on sales of $1.4 million.
May 15, 1986
The Downey Unified School District last week approved raises for classified employees and maintenance workers from its expected share of California Lottery funds over the coming school year. Classified workers, which include secretaries and clerks, and employees represented by Local 99 of the Los Angeles City and County School Employees Union, such as custodians and gardeners, will receive a 4.32% cost-of-living raise effective June 1, 1986.
August 25, 1988
Los Angeles City College will refine its English-language programs this fall and establish an orientation center for foreign-born students with a $2.5-million federal Department of Education grant awarded to the college this month. The grant also provides funding for the Los Feliz-area community college to purchase a mainframe computer to make records of its 15,000 students available to faculty throughout the campus. Five staff members to operate the computer will be hired using grant funds.