AARP to Close Its Credit Union by June 30 Plan
The American Association of Retired Persons plans to close its two year old credit union subject to member approval. Low interest in the group prompted the move and the closing would occur by June 30. Bank One of Columbus Ohio would issue an AARP sponsored VISA card, members would receive checks for savings, and CDs would move to Bank One.
MENTIONED IN THIS ARTICLE
American Association of Retired Persons
Bank One
Columbus
Ohio
Ford boosts rebates on six models through April 30
Ford Motor Co. raises rebates to 1500 dollars on Thunderbird and Cougar and Bronco II, 1000 on Taurus and Sable, and 750 on Aerostar minivans while offering 6.9 percent financing on other models and extending incentives to April 30 the rebates effective Thursday.
MENTIONED IN THIS ARTICLE
Ford Motor Co
Gillette to Sell European Skin and Hair Care Units
Gillette Co agrees to sell its European skin and hair care operations to Nobel Consumer Goods AB for about 107 million dollars. It will also net an additional 30 million from accounts in those businesses. Brands include Silkience Aapri Antica Erobristeria and La Toja parts in Italy and Spain.
MENTIONED IN THIS ARTICLE
Gillette Co
Nobel Consumer Goods AB
Sweden
Gillette
Silkience
Italy
Spain
GAF official sentenced for stock manipulation scheme
James T. Sherwin aged 56 and GAF Corp were convicted in December on eight counts for a scheme to boost Union Carbide Corp stock after a failed takeover bid. Sherwin received six months in prison and the company was fined 2 million dollars as penalties.
MENTIONED IN THIS ARTICLE
GAF Corp
James T. Sherwin
GAF
Union Carbide Corp
Senate panel approves Ryan for thrift regulator post
The Banking Committee narrowly backed T. Timothy Ryan Jr. to lead the Treasury Office of Thrift Supervision, 11 to 10, with two Democrats voting yes. The vote sends the nomination to the full Senate amid party-line lines.
MENTIONED IN THIS ARTICLE
Senate Banking Committee
President Bush
Savings and Loan
T. Timothy Ryan Jr
Treasury Department
Office of Thrift Supervision
Senate
Former Omaha credit union manager ruled mentally incompetent
Lawrence F. King Jr. former manager-treasurer of the Franklin Community Federal Credit Union was found mentally incompetent to stand trial on federal conspiracy fraud and tax charges. A U S magistrate recommended commitment to a federal medical center in Rochester Minnesota for treatment as regulators say $39 million was missing when the credit union closed in 1988.
MENTIONED IN THIS ARTICLE
Omaha
Lawrence F. King Jr
Federal Medical Center
Rochester
Judy Lewent Named First Woman CFO At Merck
Merck and Co appoints Judy Lewent 41 as chief financial officer overseeing about $2 billion in investments and pension funds. Lewent a MIT Sloan School graduate joins a small group of women managing finances for major U.S. corporations.
MENTIONED IN THIS ARTICLE
Merck & Co
Judy Lewent
U.S
Lewent
Massachusetts Institute of Technology
Sloan School of Management
Dain Bosworth Upper Midwest Regional Stocks Rise
The Dain Bosworth index and three of its five components posted gains this week with the composite up 2.1 to 408.84. Sector moves included weak manufacturing and utilities while food, financials, and technology advanced. over the last quarter the composite fell 1.6 percent yet led most major nationwide indexes.
MENTIONED IN THIS ARTICLE
Dain Bosworth
Large 402 carat rough diamond on display in Iowa City
A 402 carat uncut diamond, among the world largest, is shown at Hands Jewelers in Iowa City. Owned by Lazare Kaplan International, the gem was discovered in Sierra Leone. Separately Hanson PLC plans to take full control of Peabody Holding Co. by purchasing Newmont Mining Corp.'s 55 percent stake for 715 million dollars, adding to its existing 45 percent.
MENTIONED IN THIS ARTICLE
Hands Jewelers
Washington
Iowa City
Lazare Kaplan International
Sierra Leone
Hanson PLC
England
United States
Newmont Mining Corp
Peabody Holding Co
NASD proposes tougher standards to drop penny stocks
The National Association of Securities Dealers proposes eliminating penny stocks from NASDAQ or new listing rules. The plan would double asset and capital requirements and raise the minimum bid and float values for listings. If approved by the SEC, changes take effect next January to curb penny stock fraud.
MENTIONED IN THIS ARTICLE
Washington
National Association of Securities Dealers
NASD
Board of Governors
The
Factory orders rebound after January plunge
Orders for manufactured goods rose 1.8 percent in February from January’s steep drop, with durable goods up 2.6 percent and shipments up 3.3 percent. Total February orders reached $231.6 billion, while inventories slipped 0.1 percent to $373.9 billion.
MENTIONED IN THIS ARTICLE
Washington
Evalina Tanner
First National Bank of Chicago
Commerce Department
Blue chip declines cap weak first quarter in 1990 market
U S stocks closed a sluggish first quarter with the Dow sliding 20.49 to 2707.21 amid wariness over rates and Tokyo market weakness. The Dow finished the quarter down 45.99 points, while East Iowa ties tracked mixed results including Banks of Iowa up and Curtice Burns leading losses. Motorola faced a court order halting sales of a widely used microprocessor.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
Tokyo
Japan
U.S
Dow Jones
Motorola
IPSCO to reopen Camache plant with 200 jobs
IPSCO Inc plans to reopen the former Central Steel Tub plant in Camache as IPSCO Steel Inc with more than 200 hires over three years. Startup work could begin within a week with about 50 workers. average pay is $8.50 per hour plus benefits. Applications are at Clinton Community College. Tubular steel will serve oil drilling and pipe products.
MENTIONED IN THIS ARTICLE
Clinton
Camanche
Ipsco Inc
Regina
Saskatchewan
U.S
Ipsco Steel Inc
Ipsco Steel
IPSCO
Kal & Co
Detroit
Clinton Community College
Clinton Area Development Corp
Tubular Products
Geneva
Neb
Brookshire
Texas
Cedar Rapids and Iowa City See Mixed February Construction
February contracting in Cedar Rapids and Linn County reached 6.1 million, up from 1.9 million a year earlier but down from January’s 12.3 million. Iowa City and Johnson County totals fell to 2.3 million in February from 15.4 million in January, with residential contracts dropping 34 percent from a year earlier.
MENTIONED IN THIS ARTICLE
Cedar Rapids Construction
Iowa City
Cedar Rapids
F.W. Dodge Division
McGraw-Hill Information Systems
Linn County
Johnson County
Banks of Iowa president resigns amid pending sale talks
Holmes Foster, interim president and CEO of Banks of Iowa Inc, says the bank will not seek a new chief executive as a sale to First Bank System progresses. Chairman Foster notes an asset purchase agreement is in place with First Bank System of Minneapolis and negotiations will begin within weeks. If regulatory approval is delayed, the deal could stall, with a possible stock swap as an alternative.
MENTIONED IN THIS ARTICLE
Baz Weer
Banks of Iowa Inc
Holmes Foster
Larry Gilb
the Gazette
Gilb
Foster
First Bank System of
Minneapolis
Iowa
First Bank
William McGinnis Jr
Blunt Ellis & Loewi
Banks
First Bank System
McGinnis
Also Mentioned on This Page
AARP
Ford
Ryan
Merck
Dain Bosworth Index
Hanson Expanding
Tribune Media
Ed Walker
Spencer
Banks of
Point — General Mills
Heartland Express
Longview Fibre
Telecom
Xusa
Curtice Burns
National Oats
American Express
Union Carbide
General Electric
Philip Morris
International Business Machines
Ource
F. W. Dodge
George C. Ford
Or Rae
Larry
C.R
Purce
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