Fed official notes slow rise in bank deposit rates
Federal Reserve Governor Lawrence Lindsey told a House panel that savers’ rates on NOW accounts, savings deposits and money market deposits have been sticky and slower to rise than market rates. Since February the Fed lifted the federal funds rate 1.25 points to 4.25 percent, while saver rates rose only modestly.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Lawrence B. Lindsey
House Banking Consumer Subcommittee
Bank Rate Monitor
North Palm Beach
Fla
Lindsey
MCI to invest in Goeken Group in-flight phone venture
MCI Communications to buy a 5 percent stake in The Goeken Group Inc, the owner of In-Flight Phone Corp, with an option to acquire 45.1 percent for 44.2 million within three years. Goeken is based in Oakbrook Terrace Illinois. The deal positions MCI in a growing air-to-ground telecom market valued over 1 billion by 2000. Dubuque Packing to settle labor dispute with 3.5 million dollar payout to 1300 workers who lost jobs in relocation to Illinois. The settlement ends long negotiations with union and NLRB over the move from Dubuque Iowa to Rochelle Illinois. New York stock market closes mixed ahead of May wholesale price data. Dow gains 3.69 to 3753.14 with 1081 decliners to 986 advancers. NYSE volume 252.94 million shares. In Eastern Iowa, 18 stocks rose, 19 fell, six unchanged. Hon Industries down 1 to 29%.
MENTIONED IN THIS ARTICLE
MCI Communications Corp
Dubuque Packing Co
Iowa
Illinois
National Labor Relations Board
Dubuque
Rochelle
Dubuque Packing
NEW York
New York Stock Exchange
Hon Industries
FCC OKs personal-phone plan to cut costs for users
The FCC approved a broad band personal communications service plan to offer a single universal number that rings at home or work nationwide. The plan aims to boost competition, lower consumer charges, and reduce new phone costs to about 150 dollars. Availability begins in 1995 with 80 to 100 million potential subscribers in a decade.
MENTIONED IN THIS ARTICLE
Washington
United States
Federal Communications Commission
FCC
Reed Hundt
Hundt
Commission
Cedar Rapids Bowling Center unveils $300000 modernization
Cedar Rapids Bowling Center at 265 Blairs Ferry Rd NE is upgrading with Brunswick AS-90 system 16 bumper lanes and 10 new lanes. Owner Steve Benz says the overhaul, first major update in 18 years, will finish by July 1 with new leagues for children planned in fall.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Blairs Ferry Rd
New Brunswick
NationsBank aims to trim costs with employee guidance
NationsBank chairman Hugh McColl Jr. urges 60,000 employees to curb phone chatter, travel, and office spending to save 100 million dollars annually. The Charlotte bank spent 2.39 billion on non-salary costs last year, including 81 million on travel and 19 million on long-distance calls, with notable buys like 200 thousand dollars for Post-It notes.
MENTIONED IN THIS ARTICLE
Charlotte
N.C
Nations Bank
Hugh McColl Jr
NationsBank
Levels and vessels define mature entrepreneurial success
Scott Clark, Cedar Rapids based business executive, seminar leader and author, discusses two maturity levels for entrepreneurs. Level 1 is the rebellious teen stage with overconfidence, Level 2 the wise sage embracing strengths and limits. He uses a three vessel model Knowledge Capacity and Ability plus evolving Experience.
MENTIONED IN THIS ARTICLE
Scott Clark
Cedar Rapids
Also Mentioned on This Page
Subcommittee
Joseph P. Kennedy II
D-Mass
James K. Galbraith
University of Texas
Fed
Consumer Federation of America
McI
Packer
Bortom
East Coast
West Coast
FCC OK
C.R. Bowling Center
McColl
Dallas
Atlanta
HTC Group Syndicate
Collins Rd
Lindale Mall
Cosvette Vacation
VAC Pak
the Gazette
P.O. Box
Ceasette
Apt
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