S&L Brokerage Network Wins Federal Backing to Grow
Washington approves Investment Services for America a brokerage arm owned by 29 large savings and loans with 340 more expressing interest. The plan aims to surpass Merrill Lynch within a year with 4 000 branches after two years. Daniel McConnell will lead the consortium offering stocks bonds and mutual funds nationwide.
MENTIONED IN THIS ARTICLE
Washington
UPI
Savings and Loan
Wall Street
Merrill Lynch
Federal Home Loan Bank Board
America
Savings and Loans
Stephen Ege
Daniel McConnell
Greenshields Inc
McConnell
Recommenda
Foreign flower imports surge as U.S. market grows
The Washington Post Service outlines how foreign growers supply the booming U.S. flower market, led by Colombia, Israel, and the Netherlands. Rising imports cut domestic shares, while tariffs and industry consolidation reshape production, with 1980 figures showing a shift in growers and prices across regions.
Few Foreign Flowers Sold in Cedar Rapids Says Florist
Bob Pierson of Pierson's Wholesale Florist Inc. says about 90 percent of flowers sold locally are domestic with Florida and California origins. Holidays may raise foreign shares. imported blooms come from Central America Israel Holland and Hawaii with many iris and exotic varieties cut locally in spring.
MENTIONED IN THIS ARTICLE
Howard “Suds
Gilliams
Claymore C. Steck Inc
Washington Area
Colombia
Israel
Netherlands
Mexico
South Africa
Bob Pierson
Cedar Rapids
Beverley Duffy
United States
Florida
California
Pierson
Wholesale Florist Inc
Central America
Holland
Hawaii
Two Cedar Rapids firms plan further workforce cuts today
Square D Co. will lay off 35 production workers at day’s end, bringing total cuts to about 300 while maintaining around 700 employees. Universal Engineering will trim five to six staff, with 140 already laid off and about 250 employed. Officials cite uncertain economy and order volumes.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Kit Segriff
Square D Co
Universal Engineering
Bob Coffin
Universal
Stocks Jump on Budget Talks and Falklands News
UPI reports U.S. stocks rally sharply as budget plan critics fade and the Falkland Islands crisis moves toward mediation. Dow gains 8.75 to 863.20 amid heavy NYSE, NASDAQ activity with Pan American and Exxon among mov ers. volume soars across exchanges.
MENTIONED IN THIS ARTICLE
New York
UPI
Falkland Islands
Standard & Poor
Senate Budget Committee
Britain
Argentina
United Nations
NYSE
U.S
National Association of Securities Dealers
Pan American World
SEC approves computerized national market experiment
The SEC authorizes a six month pilot linking major stock exchanges and OTC trading affecting 30 stocks with plans to expand to about 200 and eventually most stocks. Commissioner Barbara Thomas warns of internalization risks and increased off-board trading while Bevis Longstreth cites potential gains in pricing efficiency.
MENTIONED IN THIS ARTICLE
Washington
UPI
Securities and Exchange Commission
Commission
Barbara Thomas
Miss Thomas
Bevis Longstreth
Nationa Association of Security Dealers
SEC
Dollar and gold stumble as rates eyed lower
The U S dollar weakens across markets as expectations grow that U S interest rates may be cut. Bonds rise on the same view while gold slides past key support, with prices around 334 to 336 dollars in Zurich London and New York. The pound strengthens on hope of a Falklands settlement amid currency moves.
MENTIONED IN THIS ARTICLE
New York
UPI
Stuart Robbins
Paine Webber Mitchell Hutchins
Sears, Roebuck & Co
U.S
No. 2 K-Mart
J.C. Penney
F.W. Woolworth
United Press Internatv
Zurich
London
New York Commodity Exchange
Comex
Marc Berkowitz
Sinclair Group
Falkland Islands
Tokyo
Also Mentioned on This Page
Congress
Savings
Fritz Elmendorf
American Bankers Association
Securities Industry Association
SIA
Edward O’brien
Investment Services For
Value Line Investment Survey
Richard Pratt
California Federal Savings and Loan Association of
Los Angeles
Coast Federal Savings and Loan Association of
Sarasota, Fla
Perpetual American Federal Savings and Loan Association of Washington
City Federal of
Elizabeth
N.J
Washington Post Service
James Krone
Roses Inc
Canada
Krone
International Trade Commission
Equator
Don Hook
Pittsburgh
Society of American Florists’ Wholesalers Council
Northeast
Midwest
Its Gazette
Duane Crock
C.R
Segriff
Coffin
Bell
DES Moines
Northwestern Bell Telephone Co
Iowa
Iowa Commerce Commission
Princess
Wall Street Journal
Falkland News
Airways
Exxon
Texaco
Midland
Texas
General Dynamics
Aerospace-Defense
Amnex
Dome Petroleum
Weatherford International
Washington Post
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