News Briefs

Regis Corp.; Tyco retrials; Symbol Technologies and Telxon; junk-bond mutual funds.

  • Regis Corp., swimming against the tide of companies that are splitting their two top jobs, elected president and chief executive officer Paul Finkelstein to succeed Myron Kunin as chairman of the board. Kunin was elected to the newly created position of vice chairman.
  • A New York judge announced that he will delay, for at least a month, scheduling the retrial of former Tyco International Ltd. executives Dennis Kozlowski and Mark Swartz.
  • Symbol Technologies Inc. announced that a judgment has been entered against its wholly owned subsidiary, Telxon, in favor of Smart Media for about $218 million plus interest. Last September, according to reports, an Ohio jury awarded the damages for claims made in a 1999 lawsuit; Smart Media had maintained it was harmed when Telxon failed to form a business alliance with it and provide funding to develop its “Smart Handle” product. Symbol bought Telxon in 2000.
  • Investors yanked out $201 million from U.S. junk bond mutual funds in the week ended Wednesday, the fourth straight week of outflows, according to AMG Data Services.

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