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Business in brief
By Staff, wire reporters © St. Petersburg Times, published September 26, 1998 * * * NEW NAME FOR NEW BANK: NationsBank Corp. plans to complete its merger with BankAmerica Corp. next Wednesday and unveil a new name for what will be the country's largest bank that evening with an ad airing on ABC's Nightline news show. NationsBank has hired the New York corporate identity firm Anspach Grossman Enterprise for advice on the bank's new name. The bank's parent company will be called BankAmerica. Its stock will begin trading Oct. 1 on the New York Stock Exchange under the symbol BAC.
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BR PLANS STOCK BUYBACK: A day after its stock price plunged, ABR Information Services Inc. said it would buy back as many as 3-million shares of its common stock. ABR has about 29-million shares of common stock outstanding. Its share price hit a 52-week low of $14.183/4 Thursday after the company said it would take a onetime $13.8-million charge in the first quarter for discontinuing a software service. ABR closed Friday at $14.121/2, down 61/4 cents.
