Bf Goodrich Co

In a double pummeling of B.F. Goodrich Co., an Orange County judge ruled that the tire maker was so clearly wrong in a $2.8-million contract dispute that the only question for jurors was punitive damages--which the jury promptly assessed at $48 million. Superior Court Judge Francisco Firmat said in his ruling Friday that the case was the first time in 16 years on the bench that he has issued a directed verdict, a decision that settles the basics of a case without deliberations by the jury.

In a double pummeling of B.F. Goodrich Co., an Orange County judge ruled that the tire maker was so clearly wrong in a $2.8-million contract dispute that the only question for jurors was punitive damages--which the jury promptly assessed at $48 million. Superior Court Judge Francisco Firmat said in his ruling Friday that the case was the first time in 16 years on the bench that he has issued a directed verdict, a decision that settles the basics of a case without deliberations by the jury.

Construction has kicked off on a $63-million apartment and shopping complex near a light-rail station on the edge of downtown Culver City as developers move to capitalize on the new Expo Line. The six-story project is being built by Santa Monica apartment landlord NMS Properties. The development at 9901 Washington Blvd. in Los Angeles, across the street from Culver City, will be known as NMS@Culver City. It will house 131 units over restaurants and shops. The complex is across from the Kirk Douglas Theatre and Sony Pictures Plaza office building.

Richfield, Ohio-based B.F. Goodrich Co. said it completed its acquisition of Chula Vista-based Rohr Inc. for $1.3 billion in stock and assumed debt to expand its aircraft-parts business. . . . Los Angeles-based ABM Industries named Chief Executive Martinn Mandles to the additional post of chairman, succeeding Sydney Rosenber, who was named chairman emeritus.

B.F. Goodrich Co., the tire maker turned aerospace company, said it will close four plants and eliminate 775 jobs, or 4.6% of its work force, as part of a cost-savings plan related to the 1997 acquisition of Rohr Inc. The company said it will take a fourth-quarter charge of about $7 million, or 9 cents a share, to pay for the moves, which it said will save about $10 million a year beginning in 2000. Richfield, Ohio-based Goodrich also said its profit for 1998 will exceed $3.

* B.F. Goodrich Co. said it bought Boeing Co.'s ejection-seat business to broaden its range of safety-related aerospace products. * Tommy Hilfiger Corp.'s profit jumped 34% in its fiscal second quarter to $76 million, or 79 cents a share, 6 cents higher than estimates, as sales grew 21% to $561.6 million. * Rockwell International Corp. said its fiscal fourth-quarter earnings rose 20% to $155 million, or 80 cents a share, a penny higher than analysts forecast, as revenue grew 6.3% to $1.

America West Lays Off Workers: The Phoenix-based air carrier is laying off 500 workers, including half of its mechanics, and will have major aircraft maintenance performed by a contractor, the company announced. Officials at America West Airlines Inc. denied rumors that it is considering a merger with another airline in connection with the layoffs, which are expected to save the company $35 million over five years. The airline began notifying employees of the layoffs on Friday.

America West Lays Off Workers: The Phoenix-based carrier announced that it is laying off 500 employees--including half of its mechanics--and will have major aircraft maintenance performed by a contractor. Executives of America West Airlines Inc. denied rumors that it is considering a merger with another airline in connection with the layoffs, which are expected to save America West $35 million over five years. The airline began notifying employees of the layoffs on Friday.