IBM AT EASE ON SHARE BUYBACKS, SAYS CASH COVERS THEM.
IBM Corp, which has been regularly repurchasing shares since January 1995 - including a further $3.5bn authorized last week - may have to borrow to continue the buybacks. One analyst who follows the company closely told us that, while IBM can fund both investments (such as expanding disk drive...

IMATION COMPLETES SALE OF UNIT TO KODAK.
Imation Corp, the imaging and data storage company which has now completed the sale of its medical imaging systems business to Eastman Kodak Co (8/5/98), says it plans to use the $532m from the sale - up from an initial price of $520m - to pay down $360m of...

CENDANT SELLS SOFTWARE BUSINESS FOR UP TO $1BN.
As it announced it would in August, marketing giant Cendant Corp has sold its sizable software business for up to $1bn. The buyer is French media and advertising company Havas SA, a subsidiary of Vivendi SA, which will fork over $800m in cash and as much as $200m in...

CLIENT-SERVER HELPS CA AS MAINFRAME BASE FALTERS.
Client-server products accounted for half of Computer Associates International Inc's second quarter revenues of $1.22bn, up 10% from last year's figure. Income was up 8% to $293.92m over last year. CA claimed "another solid quarter," despite a decline in its sequential growth rate from 18% in the first quarter....

IBM CONTIUNES SHARE BUYBACKS.
IBM Corp is steaming ahead with its stock repurchase plan, having authorized another $3.5bn worth of buybacks. The latest move brings the total value of the authorized repurchases to $27.5bn since January 1995. At the end of the third quarter, the company had about $900m left under the last...

Organogenesis wins biotechnology industry award.
US biotechnology industry chiefs awarded a Best of Biotech award to Massachusetts company Organogenesis Inc for its Apligraf product for the treatment of diabetic foot ulcers. Apligraf, a cellular, bi-layered skin substitute, is the first, and only, mass-produced product containing living human cells to prove efficacy and...

The End of Shareholder Value.
Allan A. Kennedy Published by Perseus Publishing, Cambridge, Mass., 237 pages, $26.00 ALLAN KENNEDY has written an important and timely book. He has also revealed himself to be an insightful student of business history -- and a compellingly good describer of it. This...

Market Watch.
Kodak Attack New York -- In a press briefing held in conjunction with the annual investor's meeting here in late April (too late for May press time), the management of Eastman Kodak outlined their vision of the future and Kodak's growth potential through the next five years....

News in Brief.
Peso rate at P42.976 The peso reference rate remains at P42.976 to the U.S. dollar, the weighted average rate pegged at the Philippine Dealing System of the Bankers Association of the Philippines last Friday. 5 gov't directors in PNB The government will nominate...

News In Brief.
Peso appreciates to P50.075 The peso appreciated against the U.S. dollar to P50.075, the weighted average rate at the Philippine Dealing System of the Bankers Association of the Philippines yesterday from, P50.140 the previous day. The local currency closed at P50.058. Total volume reached at P108.98 million....