A group of 57 former Frontier Airlines...
A group of 57 former Frontier Airlines employees said it filed a $52-million suit in Denver against Texas Air’s People Express unit and Frontier Airlines claiming breach of an October, 1985, no-furlough agreement, among other charges . . . Ciba-Geigy said it controlled 95% of the shares of Spectra-Physics Inc. following the expiration Wednesday midnight of its $36.50-a-share cash tender offer for the laser-making company . . . Great American Bancorp of Century City said it signed a letter of intent to sell its Great American Bank subsidiary to a private investor group. Great American Bancorp and the subsidiary are not affiliated with the much-bigger Great American First Savings Bank, based in San Diego . . . The World Bank cut its interest rate for loans to developing countries to 7.76% from 7.92% . . . Giant retailer J.C. Penney Co. said it will relocate its national headquarters to an Electronic Data Systems Corp. business park in a Dallas suburb, ending months of speculation on the site. Penney’s officials earlier announced that the company would move to Dallas from New York, their permanent headquarters since 1913 . . . Fortune Systems of Belmont completed the sale of its computer hardware operations to SCI Systems and changed its name to Tigera Group.
