Northview’s Hotel Income Drops Steeply in 1st Half

Northview Corp. reported a $2.7-million loss on its hotel and investment activities for the second quarter ended June 30, contrasted with net income of $3.4 million over the same period last year. For the first half of the year, Northview’s loss stands at $3.4 million, contrasted with a profit of $4.5 million over the same six months last year.

The company attributed the loss to the absence of income from arbitrage-related investment activities that Northview terminated in late 1986 after former chairman Ivan Boesky was implicated in a massive illegal insider-trading case.