5 YEARS AGO THIS WEEK: As the Japanese economy weakened, banking giant Dai-Ichi Kangyo Ltd. decided to sell 10 of its California properties, including the Ritz-Carlton Huntington Hotel in Pasadena Union Bank opened its first stand-alone check cashing and basic banking center in Huntington Park to attract working-class immigrant customers.
THE NEWSMAKER: After carving out a role as one of Hollywood’s most active movie producers, John Davis, son of billionaire Marvin Davis, launched Catapult Entertainment Inc., an interactive firm formed to sell modems to link video game players by telephone lines. Davis said he was convinced “interactive is coming, and not necessarily through cable.”
JUNE 7, 1994
Dow Jones Industrial Average 3768.52
London gold $380/oz.
Christian Dior silk tie $15.99
Motorola pager $19.99
