Hijackings in Beirut Ciose Road
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Waddell principal recalls For Father’s Day, kids Coventry wins describe their own dads Class S title his early years at school ... page 3 page 11 ... page 15 Manchester, Conn. Sunny today; Saturday, June 16, 1984 fair tonight Single copy: 25C — see page 2 lEanrljfHtpr Hrralft Hijackings U.S. refuses in Beirut to back loan for Argentina ciose road Bv Denis G. Gulino United Press International WASHINGTON — The U.S. government refused By David Zenlan Friday to extend a $300 million loan guarantee to United Press International Argentina, bowing out of an agreement made with four Latin American governments to prevent paper BEIRUT, Lebanon — A spate of truck hijackings losses to U.S. banks. closed the only crossing between the Christian and ■iwi The Treasury Department said it would consider Moslem sectors of Beirut for an hour Friday and extending a new loan offer if Argentina ever reaches snipers wounded four people going from one side of agreement on an austerity program with the the capital to the other. International Monetary Fund. The Christian Voice of Lebanon reported Israeli The decision raises the possibility several of the warplanes flew reconnaissance missions over Leba largest American banks, including ailing Continental nese territory and Syria put its troops on the highest Illinois of Chicago, could end the quarter June 30 state of alert in the eastern portion of the country. having to report lower — in some cases sharply lower \ The radio said a number of Israeli warplanes — earnings. "m ade more than a pass” over Beirut and the Bekaa Argentina, which Friday informed more than 300 Valley in east Lebanon where Syria has thousands of banks it cannot pay $750 million due separately on a troops facing Israel’s army. $1.1 billion loan, has a choice of reaching agreement Christian militiamen blamed their Moslem west with the fund, paying off Mexico, Venezuela. Brazil Beirut rivals for sniper attacks in Beirut that wounded and Columbia itself, or forcing some of its lenders to four motorists. Y f reclassify its debts. The two sides blamed each other for sporadic While bankers disagreed on the long-range clashes across other sections of the Beirut confronta- significance of the Treasury action, it was assumed to Uon lines. The sound of exploding shells and sniper be a calculated warning by the United States to bullets in sporadic fighting in the city’s center echoed Argentina that its long delay in making repayment across the capital late Friday. arrangements was not appreciated. Police reported as many as 19 trucks hijacked by The loan guarantee was first extended March 30 in a the rival militiamen before halting traffic for an hour last minute arrangement that avoided a first quarter across the Green Line, which divides Christian east blot on U.S. banks earnings reports. The loan from Moslem west Beirut, allowing a factional guarantee was extended again on April 28 and May 31. security committee to step in to deal with the new “ While the U.S. government regrets that Argentina phenomenon. was unable to reach agreement with the IM F during ■ r They had no immediate explanation for the the previously agreed upon period, we recognize that h ija ctogs, which involved trucks loaded with food, progress has been made toward a resolution of gas and other supplies. outstanding issues and that negotiations over an itot a aource close to the negotiators said, Argentine economic program that the IM F could '^'^m1lnI'Sttt^''(>D tk$i' west side of the Green Line approve are continuing," n department statement hijacked a trudk loaded with sand, saying the other said. side would fill the sand into bags and use it in s i The Treasury Department stands ready to fortifications, entertain a request from Argentina for a new swap "W ord got to the east side, and they stopped and arrangement once the agreement on a letter of intent hijacked a westbound truck full of gravel for the same has been reached with the IMF. it said. reason.” Earlier Argentina informed international banks Rival factions blamed each other for starting the w that it cannot pay $750 million due June 15 on a $1.1 billion bridge loan, banking sources said Friday. hijackings, and each demanded the other release the Herald photo by Pinto trucks it was holding before they release the trucks Citibank informed Argentina’s more than 300 captured by their gunmen. creditor banks in a telex sent late Thursday of Police manning the Green Line buffer zone made no Fascination Argentina’s inability to meet a June 15 deadline for effort to stop the hijackings. Instead, they closed the payment on the loan signed Dec. 31, 1982 and aready corridor to ail traffic for an hour, but reopened it later extended several times. after assurances that more trucks would not be Kari Whiting, 2%, of 199 Dunn Road, Friday evening. The bazaar begins its Citibank's message to the other creditor banks said hijacked, a militia source said. Coventry, and her mother, Leslie, are last day today at noon. Story and the loan would be renewed day by day until further The trucks hijacked in Beirut by late Friday were fascinated by the amusement rides at another picture on page 10. notice and that interest charges on the rollover, yet to still missing, but their drivers had been released. the 11th annual St. Bridget Bazaar be decided, would begin accruing Friday. Some truck traffic was also restored, witnesses said. "There was some sniping and sporadic clashes, but honestly, the brief closure was more because of the truck hijackings than the fighting,” a police Corporate restructuring approved spokesman said. "The four-member cease-fire committee is dealing with the truck hijackings today ... It is better than arranging cease-fires,” the spokesman said. Voice of Lebanon radio reported the Syrians along Hospital plans profit-making subsidiary the confrontation line with the Israeli troops and inside the plain will stay on the highest state of alert until Monday. Bv Sarah E. Hall Internal Revenue Service as Gallacher as walk-in centers, surgical clinics and will continue to control it then, Syria has some 40,000 troops in east and north Herald Reporter says he expects it will be, would allow Health Maintenance Organizations are according to Gallacher. Lebanon and Israel maintains an estimated 10,000 the holding company to pursue' ven threatening hospital finances state He maintained that the restructuring troops in the southern part of the country. To provide a hedge against competi tures ranging from nursing homes and wide, according to many experts. entails no risk to the hospital's tion and increasingly stringent regula laundry or data-processing services to Corporate restructuring is seen as a financial security. 'Some (of the walk-in health centers. No actual uses way to strike back. tion, the Manchester Memorial Hospi ventures) could be money-losers -and tal Board of Incorporators Thursday have been identified for any of the three But “ it’s going to beslow,” Gallacher be discontinued," he said. But "there’s approved a plan that may lead to the subsidiaries other than the hospital, said. " I can’t imagine us getting into Iran defectors no way. if one of them fails, that it will formation of a profit-making however. any real get-rich-quick activities... My be a direct dollar drain on the subsidiary. "W e ’re going into this for flexibility, guess is there will be only one activity, hospital." seeking asylum Called corporate restructuring, the to. compete against ail the forces that the hospital, for some tim e.” plan would MIow creation of an are competing against us, and to build Gallacher made it clear that any Even though the hospital could not umbrella comirany — the Manchester capital,” Gallacher said. venture which would compete with lose money under the set-up, Gallacher Memorial Corporation — with four MMH itself would not be chosen. "W e said, it could gain some. But while any CAIRO, Egypt (U PI) — An Iranian plane carrying THE REORGANIZATION would are not inclined to chop things away profits would be channeled into the eight people, including military officers, landed at the subsidiaries. One would be the hospital itself; two others would be tax-exempt; probably allow some holding company from the hospital that already exist," hospital by the holding company, they southern city of Luxor Friday and all those aboard and the fourth would be a taxable, activities to escape regulation by the he said. would not go directly into MMH's asked for political asylum in Egypt but were money-making outfit. state Commission on Hospitals and operating budget. Instead, profits apparently denied their request, officials said. "W e’re still at the infancy stage, Health Care, which holds the reins on B Y JAN UARY, Gallacher ' said. would be tucked into an investment The defectors negotiated for nearly six hours with hospital finances statewide. The com MMH will probably have assigned fund, used for capital expenses as they Egyptian military authorities at Luxor, about 350 quite frankly,” Michael Gallacher, MMH assistant director and former mission would continue to regulate the people to boards that will oversee each crop up. miles south of Cairo, but their request for asylum acting director, said at a news hospital, however. of the four subsidiaries that are “ This will have no immediate effect appeared to have been rejected, said the officials, who conference Friday. This week, Warren Currently, Gallacher said, 21 of forseen. The same people who control asked to remain unidentified. on room rates,” Gallacher said. But L. Prelesnik — reportedly an expert in Connecticut’s 36 general hospitals the hospital now — the executive The officials said two Iranian army lieutenants since the fund would mean the hospital corporate restructuring — took over as either have undergone the restructur committee, the Board of Incorporators emerged from the plane, an F-27 Fokker Friendship, would have less need to borrow money, the hospital’s executive director.