TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
Wang Says Its Cash Supply Is Up: Wang Laboratories Inc. said it has built up its cash supply since filing for bankruptcy protection last month. “I think things are much better today,” Chief Financial Officer Michael Mee said. Mee said Wang had a cash balance of $35 million, compared to $9 million Aug. 18, when it filed for Chapter 11 bankruptcy protection. But the Lowell, Mass.-based company also disclosed that it lost $13.2 million in August. Wang, which collapsed mostly because of declines in its traditional minicomputer business, has said that it expects to be much smaller, concentrating on software and services rather than manufacturing.
