Frank Borman to relinquish control of Eastern Airlines
Col. Frank Borman steps down after an 11 year tenure as chairman of Eastern’s board amid a turbulent period for the carrier. He plans semi retirement in Las Cruces New Mexico to write memoirs and pursue a possible business venture, with son Fred owning a car dealership.
MENTIONED IN THIS ARTICLE
Andrew
Miami
Eastern Airlines
Frank Borman
Borman
Eastern
Las Cruces
N.M
Fred
Col. Borman
Jerry Cosley
Cosley
Ohio
Dayton
Dad
West Point
U.S. Air Force
NASA
National Aeronautics and Space Administration
Texas Air Corp
Charles Bryan
International Association of Machinists
Robert Callahan
Transport Workers Union
Callahan
Larry Schulte
Economic indicators and Friday money rates report
National money rates Friday show Telerate index 6.789 for call rates and a 8.50 prime rate. Other figures include Federal funds high 6.8125, low 6.75, commercial paper around 6.7, bank acceptances near 6.6 to 6.77, and Treasury yields 6.40 to 7.64. Meetings listed for Tuesday and Wednesday include financial planning chapters and business associations.
MENTIONED IN THIS ARTICLE
New York
Telerate Systems Inc
Telerate
Federal Funds
Finance Company
Bankers Acceptances Dealer
Treasury
Ginnie Maes Face Losses From Early Mortgage Payoffs
The GNMA mutual funds fall as investors incur declines in principal value. Early payoff by borrowers refinancing high coupon loans drags down yields, despite government backing. High coupon GNMA pools lose capital and see reduced total returns when rates fall.
MENTIONED IN THIS ARTICLE
National Mortgage Association
GNMA
Prudential-Bache
Smith Barney
Ginnie Maes
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Cedar Room
Armstrong's
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Peoples Bank
Peoples
Eoples Bank and Trust Company
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People Bank
Bank West
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