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Businessweek Archives

...Is The Physician Named Rich Doctor?

In Business This Week


He began his career as a counselor for disturbed children, but it was as a banker that he made a name for himself. As of June 5, Independent Bank Corp. in Ionia, Mich., has a new president: Charles Van Loan.

Some people's names and jobs are combinations made in heaven. The new associate pastor at Central Presbyterian Church in Denver is Amy Miracle. San Franciscan Les Plack is an advertisement for himself: He's a dentist. Michelle Magazine is senior vice-president of, yes, magazine publishing at Scholastic Inc. Reece Overcash is chairman of The Associates, a profitable financial firm. And CNN Washington Bureau Chief William Headline must have interviewed Joseph Coyne, public relations chief at the Federal Reserve.

Some names, though, are almost too right. The head of Hughes Aircraft's cloak-and-dagger computer-security business? Morgan Death.Edited by Harris CollingwoodReturn to top


Ross Perot's Presidential campaign is spooking investors in Mexico. The once-booming Mexican Bolsa de Valores, which had held steady for three months, took a nosedive in mid-June, losing 15%, when Perot's campaign heated up (page 46). The Texas billionaire doesn't like the proposed North American Free Trade Agreement.

To make matters worse, investors got wind that the Mexican telephone workers' union plans to sell its stake in market leader Telefonos de Mexico. And the U.S. Supreme Court's June 15 ruling that the American government could kidnap Mexican nationals chilled bilateral relations. Investors now wonder if their fiesta is over.Edited by Harris CollingwoodReturn to top


Tyco Toys was flying high until a June 17 sell-off drove the stock down 11.1%, to 16. Industry sources say that investors got a case of the jitters when they heard that Kenneth Heebner, a money manager with Boston's Capital Growth Management, was unloading as many as 1.4 million shares. Heebner's response: "I don't know what all the fuss is about. Maybe I didn't sell."

Some speculate that Heebner may have reacted to a report by investment analyst Thomas Kully of William Blair & Co. "The only thing we said is that a couple of [Tyco's] products were a touch slower," says Kully. Tyco Chief Executive Richard Grey shrugs off the stock drop. "A short-term weakness in a couple of categories is not significant to our overall results," he says.Edited by Harris CollingwoodReturn to top


Intel is closer to stopping rival Advanced Micro Devices from selling clones of Intel's most popular chips. On June 17, a federal jury in San Jose, Calif., decided that AMD didn't have the right to use proprietary Intel software embedded in AMD's clone of the Intel 287 chip. The verdict also affects AMD's clone of the widely used Intel 386 chip and could delay by several months AMD's plans to introduce a 486 clone by yearend.

AMD has one more legal worry. An arbitrator has ruled that AMD can sell its version of the 386, but another Intel suit argues that AMD can't use Intel software in it.Edited by Harris CollingwoodReturn to top

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