MEMO: 3M QUITS VIDEOTAPE BUSINESS

3M of Minneapolis is quitting the videotape business, a field the company helped invent almost a half century ago, eliminating 5,000 jobs in a bid to boost profits. It also is spinning off its data storage and imaging systems businesses, chief executive L.D. DeSimone said last week. The company's best-known products, including Scotch tape and Post-it notes, are not affected by the restructuring...