Met-Coil settles patent suit over sheet metal system
Met-Coil Systems Corp and CTI reach a multimillion dollar settlement after a 1991 jury verdict found Met-Coil Lockformer and Mechanical Data liable for patent infringement. CTI will receive about 12 million dollars with 2.5 million paid over two years and 9.5 million over 16 years. Lockformer will license the Vulkan system with CTI royalties, and Met-Coil issues 200,000 restricted shares.
MENTIONED IN THIS ARTICLE
George C
U.S. District Court
Southern District of New York
Met-Coil
Lockformer
MetCoil
CTI
Mechanical Data
Met Coil
Ray Blakeman
Regulatory proposals aim to help small firms raise funds
The SEC proposed easing disclosure forms and standards to aid small companies in selling stock, loosen mutual fund investment rules for small cap stocks, and allow securitized lending to small businesses. Caterpillar and UAW face talks in Bridgeton Mo after months of stalemate amid a 10,000 worker idled dispute. Treasury rates rose as three and six month bills advanced, while the Fed noted a steady one year yield. The University of Iowa Community Credit Union eyes a new branch on Mormon Trek Boulevard, with a land option near Westwinds Drive, potentially two to three years away. Southgate Development owns the land and may host nearby shopping plans, with more details due next week.
MENTIONED IN THIS ARTICLE
Washington
Securities and Exchange Commission
Richard Breeden
Breeden
Peoria, Ill
Caterpillar Inc
United Auto Workers Union
St. Louis
Bridgeton
Treasury
Treasury Department
Federal Reserve
University of Iowa Community Credit Union
Mormon Trek Boulevard
Westwinds Drive
Fred Krause
Southgate Development
Iowa City
Southgate
Younkers Parent Posts 1991 Profit Boom Amid Gains
Equitable of Iowa and its Younkers unit report 1991 net income of 40.5 million up 75 percent from 1990, aided by 11.2 percent revenue growth to 730.5 million. Younkers earnings reach 12.6 million with 3.2 percent same store sales rise. total 332.5 million.
MENTIONED IN THIS ARTICLE
Equitable of Iowa Cos
Younkers Inc
Des Moines
Equitable
Iowa
Fred Hubbell
Reve
Nues
Younkers
Hubbell
Equitable of
Equitable Life Insurance Co
USG Annuity and Life Co
Locust Street Securities
Equitable Investment Services
Lindale
Westdale
Cedar Rapids
Old Capitol Center
Iowa City
Fed lowers bank reserve requirements to boost lending
The Federal Reserve Board on Tuesday cut reserve requirements from 12 percent to 10 percent effective April 2, freeing about $8 billion for new loans and marking the first change in 12 years. Banks will hold $10 of every $100 in deposits as reserves, releasing $2 for lending per $100 deposited. If in effect last year, the move would have freed $8 billion by reducing reserves from $50 billion to $42 billion.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Fed
Savings and Loans
Market slips after late sell off on Wall Street
The Dow Jones average fell 21.24 to 3224.73 as nervous trading ended with a late sell off after bond price declines. Volume rose to 233.78 million, with 10-to-7 declines over advances and notable drops in Abbott Labs and Merck. Disney announced a 4-for-1 stock split.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
New York Stock Exchange
Iowa
General Mills
Gillette
Procter & Gamble
Pennzoil
Wal-Mart
W.R. Grace
Federal Reserve
Cost Basis Methods for Mutual Fund Shares
Susan Bondy explains three main cost basis methods FIFO Specific Identification and Average Cost for mutual fund shares and shows how choice affects taxable gains. Readers are advised to maintain careful records and consult IRS Publication 564 for details.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
IRS
XYZ Fund
Susan Bondy
Cedar Rapids
P.O
Iowa
Movie Ticket Sales Fall 7 Percent Across North America
North American movie ticket sales dropped 7 percent in 1991, with receipts down 4.4 percent to about 4.8 billion dollars. The Motion Picture Association of America notes a rare drop in average production cost to 26.1 million dollars per feature, as prices rose to offset fewer tickets.
MENTIONED IN THIS ARTICLE
Los Angeles
North America
Motion Picture Association of America
Also Mentioned on This Page
the Gazette
Blakeman
UAW
Dow
Abbott Labs
Merck
Syntex
OPEC
AMR
Delta
UAL
Texaco
Atlantic Richfield
Mobil
Guaranty Bank and Trust Co
FDIC
Main Bank
Third Ave
Third St. S.E
42Nd Street
42Nd St. N.E
Cedar Hills
Jacelyn Dr. N.W
Marion
7Th Ave
25Th St
Bondy
Qpg
Federal National Mortgage Association
SIPC
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