Merchants Bank Extends Hours for IRA Deadline
Merchants National Bank & Trust Co in Cedar Rapids will stay open until midnight Monday to help last minute investors meet the IRS deadline for opening an Individual Retirement Account. D. William Coppack notes a Des Moines bank had success with a similar promotion last year. Caterpillar name change to Caterpillar Inc and charter move to Delaware aims to enable poison pill provisions. Johnson & Johnson expects first quarterly loss due to 600 million dollars in pre tax charges from Tylenol issues and restructurings.
MENTIONED IN THIS ARTICLE
Merchants National Bank & Trust Co
Cedar Rapids
D. William Coppack
Des Moines
San Francisco
Caterpillar Tractor Co
Caterpillar Inc
California
Delaware
Caterpillar
New Brunswick
N.J
Johnson & Johnson
Dunlap
Hawkeye
Continental Illinois Corp
Continental Illinois National Bank & Trust Co
First Bank System Inc
Credit Suisse
Norwest Corp
Fed plan to ease FDIC rescue for failing banks
Federal regulators proposed a plan to relax interstate banking limits to let the FDIC sell troubled banks to strong out of state buyers. They cited energy and farm loan exposure as the core risk, while insisting the overall system remains sound. about 200 banks failed in two years and roughly 120 more could fail this year.
MENTIONED IN THIS ARTICLE
Washington
Federal
Preston Martin
Federal Reserve System
Martin
L. William Seidman
Federal Deposit Insurance Corp
Robert L. Clarke
Clarke
Sun Belt
FDIC
Seidman
FDIC ease on interstate banking may not hit Iowa
FDIC proposes lowering the acquisition threshold from 500 million to 250 million and allowing out-of-state banks to buy failed or failing banks and their affiliates. Iowa experts say few banks meet the new threshold, limiting impact, though concerns rise over energy loan trouble and regional bank health.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa
Federal Deposit Insurance Corp
FDIC
Dick Berglund
Iowa Independent Bankers
Berglund
Neil Milner
Iowa Banking Association
Martin
Seidman
Clarke
Volcker mum on future Chapter 11 alternative
Federal Reserve Chairman Paul Volcker refused to discuss a published report that he will step down next year amid White House opposition to a third term. The report cited unnamed sources and Regan’s stance on Volcker’s reappointment.
MENTIONED IN THIS ARTICLE
Volcker
Hawkeye Bancorp
Washington
Federal Reserve
Paul Volcker
Central Bank
White House
Knight-Ridder Newspapers Inc
Donald T. Regan
Reagan
Fed
Stocks post modest gain amid oil upswing
The Dow rose 8.86 to 1778.62 in a volatile session as expectations of lower rates supported stocks. Oil prices turned up after a brief fall, limiting gains, while tobacco stocks surged after a Philadelphia court ruling shielded cigarette makers from certain liabilities.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
United States
Bank of Japan
Philadelphia
Philip Morris
R.J. Reynolds Industries
Exchange
Standard & Poor
S&p
Transportation Dept orders in depth review of Texas Air Eastern merger
The Department says the Texas Air Eastern Airlines merger raises serious competitive issues and will undergo an in depth analysis with oral arguments set for May 27 and a final recommendation to Secretary Elizabeth Dole by July 23. The deal would create the largest U.S. airline if approved.
MENTIONED IN THIS ARTICLE
Washington
Transportation Department
Texas Air Corp
Eastern Airlines
Transportation
Elizabeth Dole
Texas Air
Eastern
Continental Airlines
New York Air
Northeast
New York
Boston
Department
Ginnie Mae urged to raise guarantee authority
Washington AP The Mortgage securities guarantor Ginnie Mae needs to boost its authority from 65.3 billion to 100 billion dollars to meet the surge in refinancings and cover loans insured by FHA and VA. Officials warn a delay or shutdown could disrupt lenders and homebuyers waiting for FHA and VA loans.
MENTIONED IN THIS ARTICLE
Washington
Samuel R. Pierce
National Mortgage Association
Pierce
Senate
Federal Housing Administration
Veterans Administration
Congress
Silvio DeBartolomeis
FHA
Warren Lasko
Mortgage Bankers Association
Peter Knight
National Council of Savings Institutions
Also Mentioned on This Page
MONEY
Merchants
J&j
Fernand St Germain
D-R.l
Banking
Financial Institutions
Bob Moore
Hawkeye Bancorporation
Paul Dunlap
United State Bank
Banc- Texas Group Inc
Hawkeye Stockholders Meeting
Norwest Banks
Norwest Bank
Fylarion
N.A
33Rd Ave
S.W
Iil
Feds
Ginnie Mae
SCI
Ave
Tox
Rapids
Wats
Lowa City
Cable Television
S. Dubuque St
Iowa City
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