Union Carbide Corp. (paint company finances)

Union Carbide Corp. reported a fourth quarter before-tax special charge of $70-million ($46 million after-tax, or 36 cents per common share primary), representing additional severance and facility consolidation costs associated with the company's previously announced profit improvement program, as well as costs associated with the proposed spinoff of the company's industrial gases business. Including the charge, the company reported a preliminary net loss for the fourth quarter of 1991 of $63 million, or 49 cents per common share primary. In addition to the special charge, fourth-quarter 1991 results included a before-tax charge of $13 million ($8 million after tax, or 6 cents per common share primary), …