Defeasance era reshapes corporate debt options
Wall Street hails a new defeasance strategy where firms swap old cheap debt for higher yielding new bonds and place government securities in trust to erase liabilities. Critics warn it inflates profits, may mislead lenders, and raises costs if bonds default or ratings fall.
MENTIONED IN THIS ARTICLE
Michael Blumstein
New York Times
New York
Securities and Exchange Commission
Wall Street
John H. Erdman
Morgan Stanley & Co
Randolph Westerfield
Wharton School of the University of Pennsylvania
Exxon Corp
America
United States
Exxon
The
Financial Accounting Standards Board
SEC
Bear, Stearns & Co
Atlantic Richfield Co
Prof
Weil
Tellerless bank branches gain momentum in banking shift
A Bank Systems and Equipment survey shows 19 percent of bankers plan tellerless branches within three years, with large banks more open to the model. Banks increasingly rely on hardware and software, expanding systems rather than replacing them, as 60 percent eye new personal computers and 58 percent target ATMs in the next 24 months.
MENTIONED IN THIS ARTICLE
Christopher Lindsay
Associated Press
New York
Bank Systems and Equipment Magazine
Market Tidbits From Stock Shifts and Splits
Stocks show varied moves with Amer Medical Intl Lifemark Care rising from .15 to .? Amer Water Works up from 35 to 40 while others like Chase Manhattan and Continental Group edge higher. Multiple dividend changes, stock splits, and earnings figures appear, highlighting broad market activity and notable company adjustments across sectors.
MENTIONED IN THIS ARTICLE
Amer Medical Int
Amer Water Works
Bundy Corp
Burlington Inds
Chase Manhattan
Chesebrough Ponds
Columbia Gas
Continental Group
Donaldson Lutkin
Dow Jones & Co
Fairfield Communities
Hartmarx Corp
Iowa Illinois Gas&e
Iowa Public Service
Media General
NCR Corp
Potomac Elec Power
Ralston Purina
Republic NY Corp
Equitable Bancorp
Merry Land&Envest Spc
Unitel Video
Condemco Inc
Svc
Indiana
Detrex Chemical
Emulex Corp
Engraph Inc
First Alabama Boonshares
Interpublic Group
Lawson Products
Mangood Corp
Southern Calif Edison
Third National Corp
United Banco Arizona
Wash Federal S&l
Am South Bancorp
Abbott Labs
Alcan Alum Ltd
Amer Elec Pwr
Amer
Champion Intl
Manhattan
Chicago
Wstra
Citizens First
Bncp
Cent
Illinois
Dayton Pwr & Lt
Donaldson Lufkin Jen
Eagle Picker Indust
Excello Cp
Fed! Ntl Mtge Assoc
Atlanta Cp
Chicago Corp
Tricky tax questions on phone stocks arise
Chet Currier reports that as AT and T splits into seven regional firms, 3 million plus stockowners face tax questions. Holders of AT and T shares as of 1983 end will receive one new share from each regional company for every 10 old shares, creating complex tax implications going forward.
MENTIONED IN THIS ARTICLE
Chet Currier
New York
American Telephone & Telegraph Co
Internal Revenue Service
Bell System
At&t
AT&T divestiture corrections and tax implications outlined
The Gazette corrects a prior error on deposits and explains the AT&T breakup effective January 1. Investors face various tax outcomes depending on exchanges or sales of new regional stocks and telephone unit trusts, with some transactions largely tax free and others creating taxable events. Shareholders will receive a midyear pamphlet with worksheets to compute retroactive purchase prices.
MENTIONED IN THIS ARTICLE
Wall Street
At&t
IRS
Pacific Telesis
Ron Matthews Named President of West Liberty State Bank
Ron Matthews aged 52 has been named president of West Liberty State Bank replacing Bob Rehmke who retired December 31 after a decade in the role. Matthews, a bank vice president, previously spent 16 years at First National Bank in Iowa City before joining West Liberty in 1976. The bank holds about 39 million dollars in assets and serves an eight mile radius around West Liberty.
MENTIONED IN THIS ARTICLE
Ron Matthews
West Liberty State Bank
Bob Rehmke
Matthews
First National Bank
Iowa City
West Liberty
Arizona State University
Graduate School of Banking
Madison
Wis
Also Mentioned on This Page
Treasury
Roman L. Weil
University of Chicago
Roy Taub
Standard & Poor’s Corp
Suzanne W. Wright
First Boston
Denver
Plaza
Rreville Pstgre Bonca
First
Wisconsin
Florida Progress Cp
General Bandsh
General Electric Cp
General Tire Rubber
Gibraltar Fnel Calif
Gri Nrtha Nekoosa
Great Wsth Fncl
Hillenbrand Incl
Hilton Hotels Co Out
Hunt Mfg
Insilo Corp
IBM
Irving Bank Corp
John H Harland
Kentucky Utils Cp
Sennor Cp
Lydell Inc
Manufactrs Hanover
Marine Midland Bks
Mayflower Pore
Mission West Proper
Pere Cp
Norwest Cp
Orange &Rockland Util
Outbord Marine Co
Owens Corning Fibreglass
Pacific Lighting Co
PanAmer Banks
Pennwall Corp
Pfizer Inc
Pneumatic Scale Co
Pneumo Corp
Potomac el Pwr
PubSve el & Gas
Repub NY Cp
Russell Corp
Security Pacific Cp
Smith AO Cp
Stan Calif, Ed
Sterling Extruder Cp
Technitrol Inc
Texas Commerce Brishs
Texas Poc Land Trust Ao
Transamer Co
Tultex Corp
Utd
United Jersey Bks
Utah Power and Light
Wells Fargo & Co
Bandexas Grp Inc
Bankamerica Co
Dover Corp
First City Encep Texas
Kimberly Clark
Lt & N Housing Corp
Nil Distill & Chem
Pacific Gas and Elec
Raytheon Co
Republicbank Corp
Sthwst Bakshrs
Stone & Webster Inc
Texas Amer Bkshrs
Tolheim Cp
Westinghouse Electric
Williams Electronics
Amer Medical Intl
Lifemark Care Equity
Grp
Hidgs
Fst Jersey
Natl
Guarantee Banco New Listings
Nyse Alabama Power Ads of
el Torito Restaurants
Leucadia Nail Coadj Pt
Pandick Inc
Gulf Oil - Gulf Corp
Linn County
mTeeh
Chevrolet
Keller“Hull Co
Furniture C& Supplies
Keller “Hull
Furniture Bs Supplies
S.E
Cedar Rapids
Oopen Office Systems Interior Design Service
the Gazette
Perpetual Savings and Loan Association
Ameritech
Bell Atlantic
Bell South
Nynex
Southwestern Bell
U.S. West
Iowa
Dubuque
Wisconsin Capital Inc
Wisconsin Capital
Tri -State
Wisconsin Capital, Inc
P.O. Box
SIPC
Iname
City
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