Hutton and Shearson discuss merger amid reviews
In New York AP reports E F Hutton Group discussed a possible merger with Shearson Lehman Brothers after reviewing other takeover proposals. The talks would create the nation's largest investment firm, with Hutton's market value over 920 million and Shearson showing strong expansion potential.
MENTIONED IN THIS ARTICLE
NEW York
E.F Hutton Group Inc
Shearson Lehman Brothers Holdings Inc
Hutton
Shearson
New York Stock Exchange
American Express Co
NYSE
Salomon Inc
Capital
Securities Industry Association
Shearson, Lehman
Cedar Rapids
Stocks Inch Higher Amid Budget Talk And Merger Hints
Stocks posted a small advance in quiet Monday trading as investors weighed plans to narrow the federal deficit. The Dow added 9.45 to 1 923.08 while volume eased to 143.16 million shares. Gainers included Philip Morris and McDonald s, with Hutton rising on takeover talk and a possible merger with Shearson Lehman.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Philip Morris
McDonald’s
American Telephone & Telegraph
DuPont
General Electric
E.F. Hutton Group
Hutton
Shearson Lehman Brothers Holdings
Market gains across major indices and Iowa stocks in 1988 start
BMW models added to 1988 stocks with Salomon Inc rising 14 to 18 percent Merrill Lynch up 11 to 22 PaineWebber 18 to 23 and First Boston up to 241 percent. Banks of Iowa climbs 1 to 49 while Longview Fibre rises to 42 United Fire and Casualty falls to 23. Wilshire index gains 9.6 billion 0.41 percent. NYSE up .57 to 136.13 S P 400 278.01 up 1.20 S P 500 242.99 up .99 NASDAQ 313.13 up .64 ASE 243.81 up 1.23.
MENTIONED IN THIS ARTICLE
Salomon Inc
Merrill Lynch
PaineWebber
First Boston
Iowa
Banks
Longview Fibre
United Fire and Casualty
Wilshire Associates
American Stock Exchange
Inflation and hotel room prices in New York a long view
A writer recalls Park Lane hotel rates rising from 36 dollars in 1973 to 245 in 1987, totaling 281.46 with taxes. He argues that inflation surged in the 1970s and notes the hotel opened in 1971 with a 32 dollar single room.
MENTIONED IN THIS ARTICLE
New York City
Park Lane Hotel
New York
Park Lane
Manhattan
United States
America
New York State
Gerald Ford
Jimmy Carter
U.S
Chrysler to raise output 1.4 percent in 1988 Q1 with layoffs
Chrysler Corp will lift overall vehicle production 1.4 percent to 575,000 in the first quarter of 1988 while cutting shut four plants temporarily and reducing production at three. Layoffs total 10,200 for one to three weeks in January with 2,200 placed on indefinite layoff in Michigan Delaware and Missouri.
MENTIONED IN THIS ARTICLE
Highland Park
Mich
Chrysler Corp
Chrysler Motors
Gerald Greenwald
Chrysler
Illinois
Michigan
Delaware
Missouri
Greenwald
Employers Grant Two Day Paid Thanksgiving Holiday
A private survey of 256 employers finds 73 percent observing both Thanksgiving Day and the following Friday as paid holidays. Manufacturers lead with nine of ten offering the Friday off, while about half of nonmanufacturing firms and public entities do. Larger companies also show higher adoption than smaller ones.
MENTIONED IN THIS ARTICLE
Washington
Bureau of National Affairs
BNA
Ford Boosts Rebates On Cars And Trucks Through January
Ford Motor Co expands incentives with up to 600 cash rebates on 1987 88 Taurus Thunderbird Sable Cougar and 400 rebates on 1987 88 Escort Lynx Tracer. The $500 truck rebates extend to 1987 88 F series pickups Bronco II and Ranger through January 12.
MENTIONED IN THIS ARTICLE
Dearborn
Mich
Ford Motor Co
Ford
General Motors Corp
Chrysler Corp
Cable rates rise 6.7 percent in six months
A National Cable Television Association survey shows basic service up 10.6 percent while overall cable bills climbed from 21.59 to 23.04 dollars between December 1986 and June 1987. Premium channels dropped 2.3 percent as deregulation progressed.
MENTIONED IN THIS ARTICLE
Washington
National Cable Television Association
CNN
ESPN
C-Span
Treasury bill yields climb for 3 and 6 month bills
Auction results show 3 month bills at 5.70 to 5.88 percent and 6 month bills at 6.11 to 6.41 percent. The Treasury Department announced actual investor returns. The Federal Reserve reported one year bill yields averaging 7.01 percent, up from 6.96 percent.
MENTIONED IN THIS ARTICLE
Treasury Department
Federal Reserve
Treasury
Maxus Sues Boesky and Kidder for 300 Million Over Takeover Plans
Maxus Energy Corp sues Ivan Boesky Kidder Peabody Co and a former Kidder executive for at least 300 million in Dallas alleging secret takeover disclosures. The case cites Martin Siegel sharing plans about Maxus 1983 Natomas acquisition. An Edelman led group extended Telex tender to midnight Wednesday amid ongoing talks for settlement.
MENTIONED IN THIS ARTICLE
Maxus Energy Corp
Ivan Boesky
Kidder Peabody & Co
Kidder
Maxus
Dallas
Martin A. Siegel
Boesky
Natomas Co
San Francisco
New York
Asher Edelman
Telex Corp
Also Mentioned on This Page
Compo Arts
Compo Arts Printing Co
33Rd Ave
Hupp Electric Motors
Casey Hupp
Corpo Arts
Hutton, Shearson
American Iron and Steel Institute
Shearson Lehman Brothers
E.F. Hutton
Lawrence Eckenfelder
Prudential Bache Securities Inc
Associated Press and Gazette
BMW
North America
York
Bob Greene
Tribune Media Service
Ward
Automotive Reports
Honda
Mazda
Ward’s
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