Short Reports

Fri., April 30, 1999

From Staff

Caterpillar Inc. and the Machinists union reached a tentative agreement Thursday, averting a potential strike at the company’s Joliet, Ill., factory.

Richard de J. Osborne, 65, retired Thursday as chairman and CEO of Asarco Inc. after 13 years in that post. He will be replaced by Francis McAllister, who was Asarco’s president and chief operating officer. The New York-based company operates the Galena mine in Idaho’s Silver Valley in a joint venture with Coeur d’Alene Mines Corp.

Unleaded gasoline futures rose sharply Thursday, pulling crude higher on the New York Mercantile Exchange amid fears oil producer cutbacks could lead the spot shortages during the peak driving season.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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