28 - MANCHESTER HERALD, Fri., Nov. 26, 1982 Hasbro, W arner swap stock Liquor PM*. Could Eighth Hasbro’s net worth from $33.5 million at the end of 1982 A n actor's life Penn State wins Lego idles 13, PAWTUCKET, R!^. (UPI) — Hasbro Industries has to between $59 and $62 million. agreed to swap 40 percent of its securities to Warner Despite the Warner investment, a vot^B ^M t for h ea rin g Communications in exchange for a New Jersey toy rom- Warner stock would prevent the company from g g Ijbe consolidated "pany, a move Hasbro says will raise its net profit by To as Mark Twain showdown with Pitt\ control, Verrecchia said. “ ° ' cites video gomes percent. slated Under the preUmlnary agreement, Warner would . page 7 . page 17 . page 6 ENFIELD (UPI) — Lego Systems Penny Rlchman, media relations become owner of the largest block of common stock in - ^»BIoo"oiFF' ■ h . Inc., which makes plastic building manager for Toy Manufacturers of Hasbro, valued at $25 to $28 million, while Hasbro would HARTFORD (UPI) - A blocks, has idled 13 workers in America in New 'York City, said acquire Knickerbocker 'Toy Co., a Warner subsidiary. : An you conloinpl««ng hovlng • hearing is scheduled early Connecticut because video games there will always be a market for Knickerbocker, which has plants located in I maybo luit ■ quiot night at next month on the first are tying up the lion’s shai^e of toy Legos because the building blocks Middlesex, N.J., makes stuffed animals and dolls, in­ price fixing complaint retailers’ capital, a company are among “classic play Items.” cluding Raggedy Ann and Andy. i I !!!S ? kZ u m t o s L ^ n d Hasbro chairman Stephen Hassenfeld called the deal Connecticut has filed since spokesman says, Videogames, she said, will repealing minimum ‘There’s a lot of (videogame) become a staple of the toy market • “the, most important transaction that Hasbro has ever markups on liquor and beer stuff out there and it’s expensive," because the computer age will be a been involved in. , , , Manchester, Conn. sold in the state. “The significance is not so much the acquisition of waokand and racalva $S.OO tha r ^ i said Michael Strammiello, manager part of the home and videogames in­ prica. Thraa VH8 vidao oaaaatta movlaa oi Cold today;) Attorney General Carl R. of marketing communications. “If a volve family members of all ages. Knickerbocker as it is Warner’s involvement and Saturday, Nov. 27, 1982 Ajello brought the com­ “I think both are here to stay,” partnership in Hasbro,” he said. “I think It Will certain­ 1 your eholoa Indudod. warmer Sunday lot of your money is tied up in elec­ Do you hava your own VCR? Titan wj* plaint against Associated tronics inventory, you're going to be Ms. Richman said. ly increase the value of Hasbro Industries and offer a lot 25 Cents Buy Right Liquor Strammiello said he doubted of op^rtunities to both companies and to their tt Hj.ci.1 prty.'i!!!! — See page 2 very cautious." any waokand or thraa rantal ot two Merchants of Syossett, The layoff of 13 packing and videogames would be around in the shareholders.” waokday N.Y.. and 25 client stores warehouse employees, effective future. Knickerbocker has annual sales of |80 million last or mora movloa., in Connecticut. Nov. 12, are the first for the com­ “The video market is good for a year. Hasbro’s 1981 sales were $104 million. Coma too tho homo A hearing is scheduled in pany in Connecticut. Also, the com­ few and probably not so good for Warner also owns Atari, the nation’s largest video Hartford Superior Court game manufacturer, and the Warner motion picture ! vMoo gamo aalactlon pany will close the Enfield plant many," he said. “A number of big wa hava avallabM for Dec. 6. from Nov, 19 through Sunday and companies are taking a bath on business. Wf Ajello’s lawsuit charges “Atari would provide Hasbro with the opportunities to rant. again from Dec. 23 to Jan. 3 and will them." • / ' t ' a committee of store shut down on Mondays from Strammiello also said he believed develop toy concepts,” said Alfred J. Verrecchia, OflW eaplTM 12/1S/S2 owners meets periodically December through February. videogames were noncreative and Hasbro’s senior vice president of finance. to select items and prices Strammiello said Lego sales in the violent. “ Being tied in with the Warner Brothers movie MOVESTI firm to be featured in Buy Rite United States are still increasing, Ms. Richman, however, said business is going to assist us if you think of two major UTC advertisements listing the but the groyith rate for 1983 videogames improve eye-hand coor­ movies that toys have been developed from. Star Wars names of all 25 stores. probably won’t reach expectations. dination. and E.T,” he said. He said the practice is il­ Verrecchia said the transaction would increase ISSoBSlf** 646-141 legal because the stores are privately owned and state law prohibits com­ (1 I f on 'final offer' petitors from “agreeing to Bank merger OK’d fix, rnaintain or stabilize NEW BRITAIN (UPI) — ’The expected merger of prices." • 4 ' related grievances. The union from layoffs by enlarging job Ajello said Wednesday Burritt Mutual Savings Bank of New Britain and By Paul Hendrle Mechanics Savings Bank of Hartford, approved by Herald Reporter charges the company offer does not groupings and, in East Hartford, by he would ask the court to 2 4 ? do enough to guarantee job security. reducing the number of plant temporarily block the directors this week, will produce one of the five largest savings-banks in Connecticut. Al£i VERNON — Union represen­ The Pratt & Whitney workforce has seniority areas. advertising practice, pen­ The merger still must be approved by state and tatives of 17,(X)0 Pratt & Whitney declined from 23,000 to 17,000, most­ ding a ruling on the law­ employees presented a counter \N EARI.Y retirement proposal federal regulatory agencies but John C. Jaynes, presi­ ly in the last two years. by the company would supplement suit. •wm-'. proposal to company negotiators at However, the company proposal Buy Rite’s owner and at­ dent and chief executive officer of Burritt, said he am*-'. expected no problem with federal or state approval. a Friday afternooil bargaining ses­ would protect long-term employees I’U-uHi' turn lo paRc 10 torney argued the adver­ sion, but said the company did not tising practice is legal and The new bank, to be called “ Mechanics Savings f Bank,” would have assets in excess of $800 million. budge from its "final offer.” allows smaller stores to If there is no progress in offer low er prices by Mechanics has assets of $475 million. Burritt assets total $360 million. negotiations by the time Machinists pooling their advertising I ilf ^ Union members meet Sunday, the It would serve 13 communities in the greater Hartford resources. union's bargaining team is likely to Negotiations: area, including Avon, Bloomfield, East Hartford, “The conduct of Buy recommend a strike, 'said Rite is pro-competitive, Glastonbury, Hartford, Hebron, Newington, New Bri­ tain, Rocky Hill, Simsbury, West Hartford, spokesman Louis Kiefer. A two- not anti-competitive,” said" thirds vote is required to strike. Leslie Byelas, a Fairfield Wethersfield and Windsor. Jaynes and Mechanics President Jack Myles said the Talks between union and manage­ lawyer. “How it hurts the ment were scheduled to resume at consumers of the state is a merger will mean larger financial resources, more ser­ UPI photo a chronology vices and a larger staff of experts for fund manage­ 10 this morning at the Quality Inn. question the attorney Pratt & Whitney operates four general ought to answ er" ment. FIREFIGHTERS POUR WATER ON SMOULDERING RUINS Connecticut plants: in East Hart­ But Assistant Attorney Mechanics and Burritt, like other thrift .institutions, . Police tracking rumors that expensive blaze was set ford, Middletown, Southington and By Raymond T. DeMeo technological changes, shifting of General Robert M. Langer “were hard hit in 1981 by high interest rates on deposits .North Haven The East Hartford Herald Reporter work to other P&WA spokesman disagreed. and large lowrate mortgage portfolios. Frank Giusti charges that the p lan t is th is a r e a ’s la rg e st At 1 p.m. Sunday at the Hartford employees. proposals seek to "shackle the Civic Center, union members at company’s ability to do business,” The organized workers, members Pratt & Whitney Aircraft’s four of the International Association of and says job security "comes from Fire in Minneapolis Connecticut plants will vote to ratify the company’s ability to get Machinists;, will meet at 1 p.m. Sun­ or reject the final offer of a new con­ day to ratify a contract or declare a orders." tract from P&WA’s parent com­ * Oct. 5-14: U n io n -U T C strike. pany, United Technologies Corp. meetings continues. Both sides FK \ \ k 1 <;IUSTI, a spokesman If the workers vote to reject the report no progress, and accuse worst in city's history for Pratt ic Whitney’s parenLfirm, offer, union leaders will inunecUate- each other or Mtng unreasonable United Technologies Corp., called ly call for a strike vote. A two-thirds and intrangisent. Giusti charges SUNDAY the offer made Wednesday by the majority of union members is that the union’s "voluminous" set by bank guards about 5 p.m. water on the old department store at company “a superior package all necessary to approve a strike.