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Pasadena-based Parsons Corp. said Ray W. Judson will retire from his positions as chairman and chief operating officer, effective Jan. 2. James McNulty, Parsons chairman and chief executive, was elected chairman. Judson was asked by the board to come out of retirement for a transition period following the death of Leonard J. Pieroni, Parsons’ former chairman and CEO who was killed along with Commerce Secretary Ron Brown in an April 1996 plane crash in Croatia. . . . Charleston, W.Va.-based City Holding Co. said it agreed to acquired Torrance-based Del Amo Savings Bank for about $11.9 million. . . . Shareholders of Calabasas-based Diana Corp. agreed to change the company’s name to Coyote Network Systems Inc. . . . Digital Equipment Corp. could agree to sell its computer-networking equipment business to Cabletron Systems Inc. as early as Monday, sources said. DEC is expected to get about $500 million for the business. The San Francisco Examiner and San Francisco Chronicle have reached a tentative 7 1/2-year contract agreement with eight of their 10 unions. The pact calls for yearly pay raises of 3% for 2,000 union employees.
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