Page 81: of Maritime Reporter Magazine (September 1996)

/wood Casino ounces License Renewal iinois llywood Casino Corporation has

Dunced that the Illinois Gaming rd has voted to renew the ler's license of Hollywood iino-Aurora, Inc., its wholly- led subsidiary. The owner's nse permits Hollywood Casinos- rora to operate two riverboats on ; Fox River in Aurora, 111. lollywood Casino opened for busi- ss in June 1993. Under Illinois w, the owner's license was origi- dly issued for a three-year period id is renewable for successive one- jar periods.

Hollywood Casino Corporation wns and operates Hollywood- hemed casino entertainment facili- ies under the service mark lollywood Casino in Aurora, 111.; ind Tunica, Miss.; and through its 30.1 percent ownership of Pratt

Hotel Corporation.

Coastal Corporation

Announces Increase In

Earnings

The Coastal Corporation recently reported that earnings increased 16 percent in the second quarter to $66.1 million, or 58 cents per share, compared to $57.2 million, or 50 cents per share, during the same quarter a year earlier. It also showed a 31 percent increase in earnings per share, climbing to $148.6 million, or $1.32 per share, compared to $114.8 million, or $1.01 per share for the same period a year earlier. "Coastal is on track toward reach- ing its goal of increasing earnings per share by more than 15 percent this year," said David A. Arledge,

Coastal's CEO. "I am especially pleased with the performance of our

Exploration and Production group, where lower costs and production volume increases coupled with stronger prices, have resulted in dramatically improved profitabili- ty," Mr. Arledge added.

Cascade Adopts New Labor

Agreement

A new labor contract has been rat- ified between Portland Shipyard's prime contractor, Cascade General,

Inc., and the 1,500 shipyard work- ers represented by the Metal Trades

Council of Portland. Cascade

General President and CEO

Frank Foti said the contract includes several radically differ- ent approaches to wage and juris- diction issues he anticipates will enable Cascade to compete more effectively for foreign and domes- tic ship repair business. "The con- tract will change the way we work to assure the survival and success of the ship repair industry in

Portland," Mr. Foti predicted.

The four-year contract, effective

July 1, 1996, through June 30, 2000, allows a worker from any

Metal Trades union to perform any craftwork at the shipyard he or she can do safely and efficient- ly It also provides an hourly wage based on skill, ability and perfor- mance. The Metal Trades Council of Portland is a bargaining unit comprised of shipyard craft locals, including boilmakers, teamsters, carpenters, painters, electrical workers, machinists, pipefitters, sheet metal workers, asbestos workers, operating engineers and laborers.

For more information

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September, 1996 Circle 134 on Reader Service Card 83

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