S P assigns AA rating to Aegon USA Group
Standard & Poor’s assigns a AA claims paying ability rating to Aegon USA Group and its nine life insurers including Investors Life in Cedar Rapids. The rating notes a strong life insurance organization with leading market positions and a multisegment distribution system targeting niches. Also Stotler and Co. plans outside investment as it trims accounts to restore books and comply with CFTC cash-on-hand rules.
MENTIONED IN THIS ARTICLE
Standard & Poor’s
Aegon USA Group
Cedar Rapids
S&p
Aegon
Chicago Board of Trade
Stotler and Co
Karsten Mahlmann
Stotler
Board of Trade
Commodity Futures Trading Commission
Examiner criticizes Revco leveraged buyout in preliminary report
The Akron Ohio bankruptcy court examiner Barry L Zaretsky reports the Revco LBO may have left the drugstore chain under capital stress and exposed it to fraudulent conveyance and state tort claims. He also flags possible actions against professionals involved in the deal.
MENTIONED IN THIS ARTICLE
Revco
U.S
Akron
Ohio
Barry L. Zaretsky
Ford Escort incentives and Xerox price hikes announced
Ford offers $500 rebates on 1991 Escort Tracer and Capri to new Ford buyers through Aug. 8, plus dealer incentives and a $50 test drive coupon. Xerox warns 3 to 9 percent service price increases on five high volume electronic printing systems effective Sept. 1, with a 5 percent rise for the 4090. Chrysler touts refined APR financing with zero percent for 12 to 4 month loans on select 1989 1990 models, 7.9 percent for 25 to 48 months, and 10.9 percent for 49 to 60 months.
MENTIONED IN THIS ARTICLE
Ford Motor Co
Ford
Xerox Corp
Chrysler Corp
Rockwell Earnings Dip in Q3 Despite Strong Cedar Rapids Units
Rockwell International reports Q3 1990 earnings of 171.2 million dollars or 71 cents per share, down from 178.1 million or 70 cents a year earlier, with sales at 3.1 billion. The company cites a stock buyback program and strong electronics and graphics segments based in Cedar Rapids, while nine month figures show continuing solid operating earnings and increased electronics profits.
MENTIONED IN THIS ARTICLE
EL Segundo
Calif
Rockwell International Corp
Cedar Rapids
Space Systems
Donald Beall
Electronics
Graphic Systems
Beall
Defense Electronics
Avionics
Allen-Bradley
Miehle
Graphics
Norwest Reports 70 Million Q2 Net Income
Norwest Corp reports a 70 million net income for the quarter ended June 30, a 12 percent rise from 1989. Earnings per share were 68 cents, with a 19.9 percent return on equity and 1.05 percent return on assets. First six months net income reached 138.4 million, up 12.4 percent, with per-share income at 1.33.
MENTIONED IN THIS ARTICLE
Minneapolis
Norwest Corp
Iowa
Lloyd Johnson
Norwest
Norwest Financial
National Community Banking
Bondy on Money Should retirees pay off mortgage or keep CD
Retirees with 20 000 annual income should pay off their 43 000 mortgage now. A 75 000 CD maturing in September offers about 9 percent pre tax, about 7.65 percent after tax, while the mortgage costs about 11.05 percent after tax. If cash reserves are ample, paying off the mortgage is advised. otherwise consider future fixed-rate options and loan timing.
MENTIONED IN THIS ARTICLE
Hho Hadéaw
United Telecom suspends GTE stake buy amid earnings drop
United Telecommunications reports a 55.1 percent fall in second quarter earnings and indefinitely delays its planned purchase of GTE's 20 percent stake in its US Sprint long distance unit. Chairman William T. Esrey cites high overhead and one-time costs and signals potential layoffs.
MENTIONED IN THIS ARTICLE
Kansas City, Mo
United Telecommunications Inc
GTE Corp
Sprint
United Te
Lecom
William T. Esrey
United Telecom
GTE
Dow closes at 2999.75 after volatile trading
The Dow Jones average hovered around 3000 for a third straight session before ending at 2999.75 unchanged from Monday and a record. Among Eastern Iowa stocks United Technologies led gains while Raytheon and Wal-Mart fell amidst mixed earnings news and computer-driven trading.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
United Telecommunications
US Sprint
United Technologies
Banks of
Raytheon
General Mills
Wal-Mart
Nash Finch
Sam's Wholesale opens new club amid expanding Wal Mart plans
The Bentonville group launches a Sam's Wholesale Club outlet on Blairs Ferry Road NE with a 109000 square foot facility by mid September and plans to recruit 120 to 125 staff. Craig Wimsatt named general manager as Wal Mart targets small business members for bulk pricing across 3500 items.
MENTIONED IN THIS ARTICLE
Sam's Wholesale Club
Wal-Mart
Blairs Ferry Road
Collins Plaza Hotel
Craig Wimsatt
Bob Cheyne
Bentonville, Ark
Cheyne
Sam Walton
Sam's
Blairs Ferry Rd
Wimsatt
Walton
Trade deficit widens to 7.73 billion in May
The Commerce Department reported May’s U.S. trade deficit at 7.73 billion, up 5.8 percent from April. Oil and foreign car imports rose sharply while exports stayed near record highs, bolstering economists’ view that overseas growth supports ongoing U.S. demand.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Also Mentioned on This Page
Xerox
Chrysler
Tribune Media
Boone Rese
Rockwell
C.R. Strong
Twin Cities
Investment Company Institute
The
National Association of the Mutual Fund Industry
M St
N.W
Washington, D.C
Susan Bondy
North America
UPS Systems
Paulson Electric Company
Fifth Avenue SE
Esresees DX
Center Pt. Rd
Terry Smith
Sam’s Wholesale
C.R
Kmart
Securities Corporation of Iowa
Second Avenue
Sipc
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