COMPANY TOWN

Labor: The long-feuding International Brotherhood of Teamsters and the International Alliance of Theatrical Stage Employees signed a “mutual aid and assistance pact” promising to “recognize the necessity to promote harmonious relations and achieve the fullest cooperation” between members working in the entertainment business. The two-paragraph statement contains virtually no specifics about how that will be accomplished, but the action nonetheless bodes well for efforts to improve the rocky relationship between the unions. The pact was signed in Washington by Teamsters President Ron Carey and IATSE International President Tom Short.

Film: Producers Edward R. Pressman and Ken Lipper, who worked together on “Wall Street” and the upcoming “City Hall,” are forming a partnership to produce movies from New York-based literary, theatrical and magazine sources. Lipper is a former Salomon Bros. investment banker who now heads the investment management firm Lipper & Co. He also was deputy mayor of New York under former Mayor Ed Koch. Pressman also produced “Reversal of Fortune” and “The Crow.”