class=Section1>
class=MsoNormal>Congressional
Republicans Now
Looking
at Late
October
Adjournment
Date
Due
to the
heavy
work load,
GOP
sources indicated
that
congressional
Republican leaders
have
started planning
for an
Oct. 20
adjournment rather
than
Oct. 6 as
the
appropriations
process
drags
out in
the waning
days of
fiscal
year
2000, according
to the
White
House
Bulletin.
style='mso-spacerun: yes'> The extra time may increase the
chances of
reaching
an accord
on the
bankruptcy
bill.
As Republicans
struggle
to respond
to the
increased
spending
demands
of the
Administration,
GOP
Conference
Chairman
JC Watts
scolded
President
Clinton
for criticizing
Republicans for
spending
too much.
class=MsoNormal>“If
President Clinton
is a
fiscal conservative,
then
I’ll believe
Al Gore
really
invented
the Internet,”
he
said.
style='mso-spacerun: yes'> “If we were willing to spend as much
as the
President wants
to
spend, Congress
would
adjourn
tomorrow; we’d
having
nothing
to
discuss.
But the
President wants
to spend
and we
want to
protect
the
surplus.
And we’ll
stay
here as long
as it
takes to
get the
job done
right.”
style='mso-spacerun: yes'> Watts concluded, “From 2,800 new tax
collectors
for the
IRS to
$8.8
million for
animal
and plant
health
inspection
services
for invasive
species,
the Clinton-Gore
budget
is nothing
more
than a big
government spending
spree.”
class=MsoNormal>Geneva
Steel
Extends
Voting
Deadline
Geneva
Steel Company
announced yesterday
that the
time
for
voting on
the
company's
proposed
chapter
11
reorganization
plan has
been
extended
by the
U.S.
Bankruptcy
Court
for the
District
of Utah,
according to a
newswire
report.
style='mso-spacerun: yes'> All objections to confirmation of the
plan
must
still be
filed
with the
Clerk of
the U.S.
Bankruptcy Court
for the
District
of Utah
on or
before
Oct. 6.
A
hearing
on
confirmation
of the
plan has
been set
for Oct.
13.
style='mso-spacerun: yes'> Geneva Steel is an integrated steel
mill operating
in
Vineyard, Utah.
The
company manufactures
steel
plate, hot-rolled
coil,
pipe and
slabs
for distribution
primarily in the
western
and central
United
States.
class=MsoNormal>Acme
Steel
Receives
Guarantee Offer
from
Emergency
Steel
Loan Guarantee
Board
Acme
Steel Company
announced yesterday
it has
been informed
that the
Emergency
Steel
Loan Guarantee
Board
has extended
an offer
of guarantee
for the
$100 million
loan
application
filed on
its behalf
by
Citicorp USA,
according to a
newswire
report.
The
guarantee
is
subject to
certain
conditions,
including execution
of an
acceptable
guarantee.
style='mso-spacerun: yes'> Acme Metals Inc., based in Riverdale,
Ill.,
is the
parent
company
of Acme
Steel
Company
and is a
fully
integrated producer
of
steel, steel
strapping and
strapping products,
and
welded steel
tubing.
On Sept.
28,
1998, Acme
Metals
and its
subsidiaries filed
separate
voluntary
petitions for
protection and
reorganization
under
chapter
11.
class=MsoNormal>All-Star
Cafe to
be Replaced
with
Planet Hollywood
The
sports-themed
All-Star
Café
has
joined a star-studded
lineup
of fame-and-food
joints
that arrived
in New
York with
initial
fanfare
and a
subsequent
shut
down, according
to a
newswire
report. Others include the Fashion Cafe, Television City and
illusionist
David
Copperfield's
place,
which lost
millions
without
even
opening.
style='mso-spacerun: yes'> Senior executives reportedly marched
into the
official
All-Star
Café in
Times
Square
on Tuesday
night
while patrons
were
watching
Olympic
boxing
and
broke the
news
that the
place
was closing.
style='mso-spacerun: yes'>
class=MsoNormal>The
All-Star
Café
is to be
replaced
by a
Planet Hollywood,
a
restaurant that
has a
movie motif
and a
roster of
entertainment
industry
backers
that
includes
Bruce
Willis and
Sylvester Stallone.
style='mso-spacerun: yes'> Planet Hollywood is moving to the
Times Square
spot
from its
current
home on
West
57th Street.
style='mso-spacerun: yes'> The company, which owns both
restaurants and
is
emerging from
chapter
11 bankruptcy
protection, decided
that the
Times
Square
site would
work
better as
a Planet
Hollywood.
class=MsoNormal>Judge
OKs
Repayment
Plan for
Bankrupt
Hospital
After
months of
delays,
U.S. Bankruptcy
Court
Judge
Gerald
Schiff
approved
bankrupt
South
Cameron
Memorial
Hospital's
repayment plan
Tuesday,
according
to
The Baton
Rouge
Advocate.
Schiff
had
delayed final
approval
of the
repayment several
times to
allow
the
Health Care
Finance
Administration
(HCFA)
to review
the plan
and decide
whether
or not
to
accept it.
HCFA's
acceptance of
the plan
during
a brief
hearing
cleared
the way
for
Schiff to
confirm
the chapter
9
bankruptcy of
the
Lower Cameron
Hospital
Service
District
Board
of
Commissioners.
style='mso-bidi-font-size:10.0pt'>The
Opelousas, La.
hospital
owes
HCFA
between $7
million
and $12
million
because
of
Medicare overpayments
in 1997
and 1998
and also
owes
the
Louisiana
Department of
Health
and Hospitals
about
$100,000
and an
estimated
$240,000
to more
than 100
other
unsecured creditors.
