HUIZENGA BUYS ELWAY DEALERSHIPS: Billionaire H. Wayne Huizenga, who owns three sports franchises including the Miami Dolphins, now has Denver Broncos quarterback John Elway on his team. Republic Industries announced Tuesday that it has signed an agreement to acquire the John Elway auto dealerships for about $82.5-million in stock. Elway will sign a long-term employment agreement with Republic for the Denver dealerships, the company said. Republic Industries of Fort Lauderdale is controlled by Huizenga, who also owns baseball's Florida Marlins and hockey's Florida Panthers.
PRUDENTIAL COMPLAINT DISMISSED: Prosecutors in New York said that they have dismissed a criminal complaint against Prudential Securities for securities fraud after the firm completed three years of probation. The period was imposed on Prudential for advice it gave customers about risky investments in the 1980s.
ABC APPEALS DAMAGE AWARD: Even though the jury's punitive damage award in the Food Lion case has been slashed by more than 90 percent, ABC News is following through on its promise to appeal the verdict. The company filed the notice of appeal to the 4th U.S. Circuit Court of Appeals in Richmond, Va. This summer, the trial judge reduced the punitive damages awarded in January to the North Carolina supermarket chain from $5.5-million to $315,000.
COKE CHIEF SEES NO BIG CHANGES: In his first public appearance since his appointment as chairman and chief executive of Coca-Cola Co. last week, Douglas Ivester announced no major changes Tuesday in the strategy of the company. He does not anticipate any "left turns or right turns," he said at a New York leadership conference of the National Soft Drink Association.
UTILITY DIVISION GETS CHIEF: Florida Power Corp. said Roy A. Anderson will be promoted to senior vice president of its energy supply division effective Jan. 1. Anderson, 49, was hired in January to oversee the operations of the St. Petersburg-based utility's Crystal River nuclear power plant. The reactor, which has been shut down for more than a year, is scheduled to start up by the end of the year. Anderson will replace John A. Hancock, 57, who is retiring after 30 years with the company.
TWO JAILED IN WORKERS' COMP CASE: Owners of a Tamarac painting contractor firm were arrested Tuesday on charges by a statewide grand jury that the company underreported its payroll and the number of its employees to avoid paying more than $200,000 in workers' compensation premiums. An indictment by the statewide grand jury charges John S. Roth, 58, of Boca Raton and James Yaccarino, 49, of Tamarac with organized fraud, workers' compensation fraud and grand theft.
HEALTHPLAN SERVICES CORP.: The Tampa provider of services for benefit programs said Tuesday that net income for the third quarter was $4.3-million before previously announced restructuring, integration and contract start-up costs of $1.2-million. Earnings per share were 29 cents before the charge and 24 cents after the charge. Revenue was $69.1-million, compared with $67-million for the same quarter in 1996.
INFORMATION MANAGEMENT RESOURCES: The Clearwater software services company said net income for the third quarter was $3.5-million, or 15 cents a share, compared with $591,000, or 4 cents a share, in the same quarter a year ago. Revenue more than tripled to $23-million from $7-million a year earlier.
Because of incorrect figures provided by the Nasdaq Stock Market, the Associated Press erroneously reported how much Larry Ellison of Oracle Corp. and Michael Dell of Dell Computer Corp. lost on their principal stock holdings Monday. The drop in Ellison's holdings of Oracle was $610.2-million. The drop in Dell's holding of Dell Computer was $321-million.
DOW DOLLAR YIELD
30 INDUSTRIALS VS. JAPAN'S YEN 30-YR. U.S. BOND
7498.32 120.47 6.28
+337.17 -1.41 +0.14