AT&T and unions discuss early retirement plan
AT&T and its unions say they have opened talks on offering early retirement to non management employees as part of a downsizing push. Details on eligibility numbers and incentives remain unavailable as discussions are in early stages. Continental Airlines meanwhile announced its first schedule expansion in two years, adding 100 daily flights to 1417 and launching service to Panama and Costa Rica along with several U.S. cities.
MENTIONED IN THIS ARTICLE
At&t
American Telephone and Telegraph Co
Continental Airlines
Panama
Costa Rica
U.S
Continental
Money supply rises with M2 M3 and M1 gains
The Federal Reserve reported week ending Wednesday gains in three money measures. M2 rose by 5 billion to 3,269.3 billion, M3 increased by 2 billion to 4,074.7 billion, and M1 advanced by 2 billion to 807 billion.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Des Moines Highlighted as a Prime Real Estate Investment Market
The National Association of Realtors lists Des Moines among 31 markets ripe for investment into the early 1990s citing central Midwest location quality of life infrastructure and low relocation costs. Des Moines is described as insurance dominated with some of the nation’s lowest housing costs. Shearson Lehman Hutton agrees to sell Lehman Management Co to Salomon Inc for 28 million, doubling Salomon’s money management scale and adding five equity mutual funds and 550 accounts.
MENTIONED IN THIS ARTICLE
Des Moines
National Association of Realtors
Midwest
Record High 5 Million Tons of Newsprint Recycled in 1989
Newsprint recycling reached a record 5 million tons in 1989, up 43 percent since 1983, per the American Paper Institute. The 1989 figure accounted for 37 percent of all newsprint used in the United States.
MENTIONED IN THIS ARTICLE
American Paper Institute
United States
Scott Paper Co. Fraud Case Charged in Maine and Michigan
A federal prosecutor in Portland said Scott Paper Co was cheated of up to 1 million dollars by two Michigan businessmen and three controlled companies. They allegedly bribed a Scott engineer and had his wife hired at a Westbrook Maine mill to push overpriced purchases. Two individuals and three companies were charged.
MENTIONED IN THIS ARTICLE
Scott Paper Co
Michigan
Scott
Westbrook
Maine
Portland
Major accounting firms barred from thrift reorganizations
Six big U.S. accounting firms Ernst & Young Deloitte Touche Coopers Lybrand Peat Marwick Arthur Andersen Grant Thornton are banned by the Resolution Trust Corp from thrift restructuring work, risking about 100 million dollars in lost business. RT has sold 50 of more than 380 savings and loans under government control. The report also notes leadership moves at Maytag and SBA appointments in Kansas City and KG Retail Stores expansion across 22 states.
MENTIONED IN THIS ARTICLE
U.S
Resolution Trust Corp
New York
Resolution Trust
Ernst & Young
Deloitte & Touche
Coopers & Lybrand
Peat Marwick
Arthur Andersen & Co
Grant Thornton
Maytag
Leonard Hadley
Newton
Daniel Krumm
Krumm
Hadley
Gary Cook
Federal Small Business Administration
Kansas City
Ronald Abreu
KG Retail Stores of
Denver
Westdale Mall
Cedar Rapids
Dundee Cement Rebrands as Hotham Inc and Expands
Dundee Cement Co and Ideal Basic Industries merge, creating Hotham Inc the North American arm of Holderbank Financiere Glaris. The deal adds Denver Colorado assets and 15.2 million tons annual capacity expanding operations across most western U S regions and Canada while NYSE ticker HLN defines the new entity.
MENTIONED IN THIS ARTICLE
Dundee, Mich
Dundee Cement Co
Iowa
Denver
Colo
Hotham Inc
Holderbank Financiere Glaris
Switzerland
Ideal Basic Industries
Washington
Texas
Utah
Oklahoma
Mississippi River
Hotham
Dundee Cement Administration
Dundee
St. Lawrence Cement
Canada
Northwestern States Portland Cement Co
Mason City
Blair's Ferry Road
Iowa City Bank Names New Chief Executive Officer
Robert Sierk, longtime First National Bank and First Financial Bancorporation leader, is named chief executive officer of both the bank and holding company succeeding Clark Houghton who retires. Houghton’s era saw assets climb from 12 million to nearly 300 million with extensive civic and university involvement. Sierk becomes president and chief executive officer of both firms.
MENTIONED IN THIS ARTICLE
Iowa City
Robert Sierk
First National Bank
First Financial Bancorporation
Clark Houghton
Houghton
First National
Sierk
Revco reports strong interest in stores for sale
Revco D S Inc says it has received multiple expressions of interest from potential bidders for more than 700 outlets in 17 states put up for sale six weeks ago. Lazard Freres is advising. no suitors named. The stores in 17 states account for about 36 percent of Revco's 2.7 billion dollar annual sales.
MENTIONED IN THIS ARTICLE
Cox News Service
Mesa, Ariz
Revco D.S. Inc
Revco
Insider trading case settles without admission
In Washington, an Aurora Ohio investment banking firm secretary and her estranged husband settled insider trading charges over Revco stock. Federal officials said the husband earned 52839 in illegal trading profits.
MENTIONED IN THIS ARTICLE
Washington
Aurora, Ohio
Revco
Federal
Iowa Stocks Rally as Market Edges Up
Eastern Iowa stocks led gains as the market posted a small advance. General Mills and Banks of Iowa rose, while Eastman Kodak fell. International stocks like IBM and GM moved higher, with Glaxo gaining on profits and Mortgage & Realty Trust dropping on a missed payment. The Wilshire index showed a 0.31 percent market rise.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
General Mills
Banks of
AEGON
Heartland Express
Glaxo Holdings
Mortgage & Realty Trust
Xtra
Joint care center planned near Huntsville Electronics Complex
The UAW and Chrysler Corp will break ground on a jointly operated on site child care and training center on a 14 acre site near Chrysler's Huntsville Electronics Division Complex. The facilities cover 24,000 square feet for child care and 60,000 square feet for training serving over 3,000 workers and their families.
MENTIONED IN THIS ARTICLE
Huntsville
Ala
UAW
Chrysler Corp
Chrysler
Huntsville Electronics Division
Construction contracting climbs after winter slump in 1989
F.W. Dodge data show Cedar Rapids and Linn County fell from 12.6 million in October to 5.7 million in December 1989. January contracts surged to 12.3 million, an 89 percent rise from January 1989. Iowa City and Johnson County also rebounded with 15.4 million in January. Overall 1989 totals reached 96.4 million for Cedar Rapids area, up 6 percent from 1988, while Iowa statewide contracts rose to 1.8 billion through year end.
MENTIONED IN THIS ARTICLE
Gazelle assaliGialeunur
Cedar Rapids
Iowa City
F.W. Dodge
McGraw-Hill Information Systems
Industry Observer
Linn County
Johnson County
Iowa
Citicorp Takes Stake in Information Resources Inc
Citicorp POS Information Services Inc buys 900000 IRI common shares at 16 dollars each totaling 14.4 million. Citicorp will get a warrant for more shares and a software license. IRI becomes exclusive licensee to market certain Citicorp data.
MENTIONED IN THIS ARTICLE
Chicago — Information Resources Inc
Citicorp Pos Information Services Inc
IRI
Citicorp
Lands' End reports 20 percent sales gain for year ends Jan 31
Lands' End Inc a direct marketing company of casual clothing reports fiscal year results with total sales of 545 million up from 456 million and net income of 29.1 million down from last year 1.45 per share versus 1.61. Fourth quarter sales reach 201 million up 7 percent with quarterly earnings 83 cents compared with 80 cents a year ago.
MENTIONED IN THIS ARTICLE
Dodgeville
Wis
Lands’ End Inc
West Union
Iowa City
Also Mentioned on This Page
Shearson
Tripune Media All Rights
Ed Mulhaney
Dundee Cement
Hotnam
New England
Holham Common
New York Stock Exchange
Ideal
Holnam
Ideal Stock
Holderbank
NYSE
Iowa City Bank
Lazard Freres
Alabama
Arizona
Arkansas
Colorado
Florida
Ilinois
Indiana
Kansas
Kentucky
Louisiana
Mississippi
Missouri
New Mexico
Tennessee
Boake Sells
Kathy Obert
Twinsburg
Ohio
Cleveland
Sells
Eastman Kodak
General Motors
American Telephone & Telegraph
General Electric
Philip Morris
F. W. Dodge
Midwestern
Five Seasons Center
Aes Business Ihd
DOE DS
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