Page 10
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Worldwide giant GE expand
Board approves buying of Honeywell for $45 bilk
October
The strong gets stronger
The combination of General Electric Co. and Honeywell International
Inc. will strengthen GE's businesses, which have seen revenues nearly
double since 1990. About 90 percent of GE businesses overlap with
Honeywell's, yet there are few, if any, overlaps in products.
Revenues
■ General Electric
$120 billion
1990 1991 1992 1993 1994
1996 1997 1990 19
Products and operations
General Electric
GE Capital Industrial Aircraft Powei
Services products engines syster
50% and systems 9% 9%
10%
leal Plastics NBC
Automation Performance Power and
26% materials transporlatk
17% 15%
Source: Hoover s Online
NEW YORK (AP) — General
Electric Co., one of the world’s
largest and most profitable compa
nies, took a big step over the week
end toward getting even bigger.
The industrial powerhouse
agreed Sunday to acquire Honey
well International Inc. for $45
billion in stock, in a move that
further solidifies GE as an aero-
space giant.
GE is a diversified company
that produces power plant parts,
aircraft engines, appliances and
owns the NBC television net
work. Honeywell manufactures
equipment for aerospace sys
tems, power generation, trans
portation and factory automation,
as well as specialty chemicals,
plastics, fibers and other indus
trial materials.
The hoards of both conp';
have approved the deal, whichisti
pected to be completed inei? 1
2001. The acquisition is subjeeir
regulatory approval and the:
proval of Honeywell shareowoei
GE expects the deal to boos!
earnings per share by doubledij
in the first full year, excluding
one-time charges.
“This is how GE gets a
footprint in the global marketpl:
increasing its size by nearly all
overnight and adding to its
nance in key areas,” anal®rt debtors m<
Nicholas P. Heymann ofPrudeiil The bill will
Securities Inc. said Sunday, their debts but
GE Chairman John EWelcL th . lt bankruptcy
postponed his planned retireoicT ie„Khii V f>-
untii 1 hee„dof2001,oove™| h| «
merger, which creates one ot::;,x no , ..
world's largest industrial compel ‘ a one ' 1C
Rep. George
mated losses as
nerica’s ban]
While banki
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Today! Today! Today! Today!
Tuesday, October 24 ♦ 4:30 P1VI ♦ 111 IColciiis
Experiential Education
Career Center
jf http://caieercenter.tamu.edu
209 KoJdus * 845-7725
Evolve into your
career!
Domestic violence awareness
cln family mor
1 To reduceth
While be
bill will I
help the:
ing peo i
will elin
that bai
SUSAN REDDING/Thk Battalion
Graduate students Christina Gonzalez and
Sherree Schwarz discuss their thoughts about
the domestic violence awareness T-shirts. In
recognition of domestic violence awareness
month, the Department of Student Life ran
advertisements requesting that domestic vio
lence survivors and friends of survivors paint T-
shirts to be displayed in the MSC Flagroom.
This year's shirts, as well as those from years
past, were on display Monday.
iieans system’
13 bankruptcy.
I Chapter 7 ba
|ean, while Ch
debt.
I The “means
lies or individuc
pay their debts i
will not have to
I AFL-CIO Pr
heartless attack
I Reasons for I
will undoubted!
be there.
1 President Cli
issued a stateme
Act), a debtor w
even$l above tl
ordinary circum
Instituting a;
(ris/ne bnnkruplc
Lark
Continued from Page 1
Jazz-Up-A-Jean Party
However, Lark said the Libertari
an party continues to support a strong
military and national defense.
Throughout the forum, challenges
faced by the Libertarian Party fre
quently surfaced, prompting discus
sion of the difficulties faced by the par
ty and the hurdles that have been
overcome in its 29-year existence.
“The only real way third parties can
get their message out is by using huge
amounts of money,” Lark said, citing
the 1992 presidential race in which
Ross Perot was forced to run himself
because campaign finance laws pro
hibited him from using his assets to fi
nance a different candidate.
In 1980, the party nominated
Richard Clark and billionaire running
mate David Coke for the Libertarian
presidential ticket. Clark was able to fi
nance the campaign with his wealth
and the Libertarian ticket received
more than 920,000 votes that year,
compared with the 480,000 votes re
ceived by Libertarian Harry Browne in
the 1996 presidential race.
“In some states it’s damn near il
legal to run if you’re not a Republi
can or Democrat,” Lark said, adding
that other challenges include ballot
access restrictions and poor local me
dia coverage.
Nonetheless, Lark said, party ef
forts have seen a tremendous increase
in local media coverage. He added that
problems continue with a lack of at
tention from what he called the “pres
tige press,” referring to the three major
television networks and newspapers
such as The New York Times and The
’Washington Post.
“Nader and Buchanan have made
amount of mone
‘ The legislatio
the majority party in the not-too-d:
tant future.”
The audience was supportive
the ideals and motives of the Lite
tarian Party, although some were in
terested mainly in breaking
from the establishment.
“I’m sick of the two-party system
said Chris Langford, a senior politii
I am a confi
o went to th
some pretty outrageous statements.
Those get news,” said Bill Wilder, a
Libertarian candidate for Brazos
County commissioner. “Libertarians
stay out of that stuff — that’s why we
don’t get news.”
The party’s success in overcom
ing these challenges was also ad
dressed at the forum. Currently, more
than 300 Libertarians hold public of
fice at the local and state levels. Con
gressman Ron Paul was elected on a
Republican ticket, but now serves as
a Libertarian.
“This is why you can think of the
Libertarian Party as the nation’s third
party,” Lark said. “We hope to become
OCUU V- 111 a dGlHUI puiiuw
science and sociology major “Theft iTOOt D311
mocrats and Republicans getallofll)
media attention, and I believe it’si
structive to democracy. I don’t neef }
sarily agree with [the Libertarian ft-' | ame , 15 wee
ty], but I’m here to show my support, Texas
Meanwhile, local support for'
party is increasing. Chris Jagge.d
man of the Brazos County Liberian:
Party and a technician with
Aggie E
missing
lame. What’s i
drove all th
onsin to enjoy
tigame and was
mology department, said he is intf' ^and was miss
ested in representing an altemativep | Because of
iitical view and is pleased that the la-
contingent is not ignored. Aggie LI
ertarians, the on-campus group,*:
founded in 1998 and now has seven |
dozen regular participants.
“We are here to educate about W
freedom and true diversity,” si
Stephanie Berlin, president of Agp
Libertarians, secretary for the Tea
Libertarian Party and a sophomoreg;
netics and biochemistry major.
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979/696-6600
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The opinion e
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Columns and I
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Tickets must be issued between
9 a.m. October 24 th and 3 p.m. October 28 f
Selected European Cities starting as low as $ 259 plus tax
■ i
Depart between November 1, 2000 - March 31, 2001
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Additional restrictions apply
Executive Travel & Leisure
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