Ruling narrows protection for repo loan customers in Iowa bank case
The FDIC ruled that repurchase agreement holders have no priority over depositors when Mount Pleasant Bank and Trust Co. fails. Repo customers lose indirect claims to government securities backing the deals, affecting individuals, utility firms, a county, and nonprofits.
MENTIONED IN THIS ARTICLE
Washington
UPI
Federal Deposit Insurance Corp
FDIC
Iowa
Mount Pleasant Bank and Trust Co
Mount Pleasant
Healthy Bank
L.W. van Winkle
Mount Pleasant Utility Co
Manchester Federal Land Bank reports loans at 128.4 million
In a report to members David R. Dudley says loans outstanding reached 128.4 million as of June 30 and 23.7 million was lent to farmers in Buchanan Delaware and Dubuque counties. The association owns 1 543 member borrowers and operates from a new office with the Northeast Iowa Production Credit Association.
MENTIONED IN THIS ARTICLE
Manchester
David R. Dudley
Federal Land Bank Association of Manchester
Worthington
James Ward
Masonville
Ward
Charles McCullough
Bernard
Manchester Association
Northeast Iowa Production Credit Association
Buchanan
Delaware
Dubuque
Wendy's Sues Burger King for 25 Million Over Ads
Wendy's International files a 25 million lawsuit in Columbus Ohio claiming Burger King Corp ran false misleading and deceptive nationwide advertising. The suit highlights alleged competitive harm amid related litigation at McDonald's.
MENTIONED IN THIS ARTICLE
Wendy's
Burger King’s
Wendy's International
Hamburg
Columbus, Ohio
UPI
Wendy’s International Inc
Burger King Corp
Burger King
McDonald's
Rockwell workers ratify 34 month contract
Rockwell International announces that United Auto Workers members in its Heavy Vehicles Components Operations ratified a new 34 month contract. The agreement covers about 5,200 workers across Allegan and Battle Creek Michigan Knox Indiana Oshkosh Wisconsin Chicago Marysville Newark Ashtabula Ohio and Winchester Kentucky.
MENTIONED IN THIS ARTICLE
Troy
Help Wanted Ads Decline Sharply Across Nation in August
The Conference Board reports August Help Wanted Advertising Index fell to 78 from 83, signaling rising unemployment likely to top 10 percent in coming months. Regional declines hit 11.8 percent in East South Central and 8.7 percent in West North Central. The Gazette notes August totals rose slightly due to five Sundays but September looks weaker.
MENTIONED IN THIS ARTICLE
New York
UPI
Help
Conference Board
Kenneth Goldstein
Goldstein
Alabama
Tennessee
Kentucky
Kansas
Minnesota
Nebraska
Missouri
D.J. Carpenter
The
Gazette
the Gazette
Carpenter
Personal finance tips to cope with inflation era
A reader urges careful shopping and credit vigilance amid inflation and unemployment. The piece highlights checking prices and sales, clipping coupons, understanding credit terms under Truth in Lending, avoiding risky contract clauses, cutting unnecessary spending, and resisting manipulative ads to protect personal finances.
Market Plunge Hits Major Exchanges Amid Rate Fears
New York stocks fell sharply as DaTen Dow slipped 13.06 to 906.27 amid profit taking and rate hike worries. NYSE composite down 0.92 to 69.78. S&P fell 1.61 to 121.63. Nasdaq down 0.78 to 188.26. Caterpillar dropped 44% after predicting a Q3 loss. IBM off 14% as tech shares led the decline.
MENTIONED IN THIS ARTICLE
New York
UPI
DJIA
Bankers Trust
Standard & Poor
NYSE
U.S
American Stock Exchange
National Association of Securities Dealers
Caterpillar Tractor
John Deere & Co
ASA Ltd
Campbell Red Lake
Homestake
IBM
Sory Corp
Digital Equipment
Gold Falls Below 400 Level After Sharp Drop
Gold slid to about 393.5 an ounce in New York as dealers cited Fed steps and European selling pressure. Bankers noted yen support from the Bank of Japan and analysts pegged 388 as a key technical support while copper and silver also declined across London and New York markets.
MENTIONED IN THIS ARTICLE
New York
Fed
Bank of Japan
Martin McNeill
Sinclair Securities Trading Firm
Zurich
London
New York Commodity Exchange
Comex
McNeill
Europe
Federal Reserve
Luis Vigdor
Manfla Tordella Brookes
Also Mentioned on This Page
Iowa Bank
Allen Motor Co
First Ave. SE
Business News
Business Exchange
Larry Waller
Cedar Rapids-Marion Area
Greater Downtown of
Cedar Rapids Inc
Roosevelt Hotel
Cedar Rapids
Wendy’s
Sylvia Porter
Universal Press Syndicate
Penncorp Financial
American Can
Seiscom Delta
Veta Grande Cos
Seiscom
Wang Laboratories
Amex
United Press Internatic
Judd
United Featu: Syndicate, Inc
Rks
Seichow and Righter Co
Scrabble
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