Iowa banks cut passbook rate to five percent amid deregulation
Iowa's American Federal Savings and Loan lowered its passbook rate to 5 percent from 5.5 percent as nationwide deregulation spreads to thrifts. Security Pacific and Southeast Banking Corp. also trimmed rates while Wachovia reduced its passbook rate to 4.75 percent. Banks cite lower funding costs and a continuing low-rate environment as justification.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Passbook Savings
Iowa
American Federal Savings and Loan
Lee Griffin
Des Moines
Bill Bucy
Security Pacific Corp
Security Pacific National Bank
Fed
Money Center
Griffin
American Federal
Security Pacific
Los Angeles
Southeast Banking Corp
Miami
and Wachovia Bank and Trust
Winston-Salem
N.C
Wachovia
James T. Brewer
Retail Banking Administration
Brewer
Bucy
Bank Rate Monitor
Nonfarm Productivity Falls 0.5 Percent in Q2 1986
U S government data show nonfarm business productivity sliding at an annual rate of 0.5 percent in the April to June quarter, the first drop since the 1981-82 recession end. Output declined 0.3 percent from the prior quarter while hours worked rose 0.2 percent.
MENTIONED IN THIS ARTICLE
Washington
Bureau of Labor Statistics
Bureau
Commerce Department
GNP
John Hagens
Chase Econometrics
Bala Cynwyd
Hagens
Cary Leahey
Shearson Lehman Bros
New York
Trailways to End I-80 Bus Service Through Iowa
Trailways Lines Inc will discontinue its Chicago to Denver route via Iowa and end I-80 service on April 1. The company will cut one of two daily round trips Monday, leaving Greyhound Lines to provide five daily I-80 trips. Trailways will retain the Cedar Rapids to St. Louis route.
MENTIONED IN THIS ARTICLE
DES Moines
Trailways Lines Inc
Iowa
Trailways
Chicago
New tax law hailed as major anti poverty measure
The reform expands the standard deduction personal exemptions and the earned income credit aiding the working poor. Experts say about 6 million may drop from tax rolls and 10.2 million families could qualify for the earned income credit in 1988 as inflation indexing is added.
MENTIONED IN THIS ARTICLE
Washington
Doug Besharov
American Enterprise Institute
Mary Bourdette
Children’s Defense Fund
Joint Committee On Taxation
Bourdette
Stocks steady as oil shares lead activity in market
The New York stock market held steady in moderate turnover after a rally that left major indices near records. The Dow rose 0.28 to 1,904.53 while the NYSE composite and S and P indexes posted gains, with oil stocks advancing and Amoco and Exxon among active movers.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Texaco
Mobil
Occidental Petroleum
Chevron
Philips Petroleum
Exxon
Amoco
NYSE
Farmland Foods Plant Reopens in Iowa Falls
Farmland Foods in Iowa Falls reopened Monday, bringing over 300 workers back to jobs after a stand by period since July due to low hog numbers. Kill operations began Monday and cutting shifts started Tuesday with a full night shift to follow next month as capacity grows.
MENTIONED IN THIS ARTICLE
Iowa Falls
Farmland Foods
Ed Randall
IC Sells Off Kentucky Line to CGT Industries
Illinois Central Gulf Railroad sold its 305 mile western Kentucky line from Paducah to Louisville to CGT Industries for 70 million dollars. The sale reduces IC Industries holdings to a 3000 mile north south railway from Chicago to the Gulf of Mexico, leaving Illinois Central with 3729 miles.
MENTIONED IN THIS ARTICLE
Chicago
Illinois Central Gulf Railroad
Western Kentucky
Cg&t Industries Inc
Paducah
Louisville
IC Industries Inc
Gulf of Mexico
Kentucky
Illinois Central
Cessna to Close Hampton Plant in 130 Jobs Move
United Hydraulics, a Cessna subsidiary in Hampton, will shut down Jan 1 and transfer operations to Hutchinson Kansas. The plant makes hydraulic cylinders for commercial machines and has a $3 million annual payroll. the closure follows Maytag’s previous exit from Hampton.
MENTIONED IN THIS ARTICLE
Hampton
United Hydraulics
Cessna Aircraft Co
Cessna
John Moore
Hutchinson
Kaw
Moore
Maytag Corp
Also Mentioned on This Page
Iowa Thrift
Associated Press and Gazette
Reagan
Besharov
Big Board
At&t
IBM
Standard & Poor
S&p
American Stock Exchange
Incedar Rapids
Bob McDowell
J Nova University
Nova University
Commission On Colleges of the Southern Association of Colleges and Schools
Rockefeller Brothers Fund
InfoGraphics
News America Syndicate
Dial
IBM Personal
IBM PC
North Bay Computer
WARE
E. Second St
Iowa City
Pittsburgh
Cedar Rapids
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