Derivatives risk explodes as pro traders collapse
The piece explains how derivatives, CMOs and complex securities derived from mortgages can amplify losses when rates rise. It notes a Proctor & Gamble treasurer losing 157 million, pension funds, panic selling, and fire sale bond prices. It warns against direct investments in CMOs and abusive high yield claims, urging better disclosure by the SEC.
MENTIONED IN THIS ARTICLE
Themelves
Proctor & Gamble
David Askin
Wall
Wall Street
Securities and Exchange Commission
New York Muni Fund
Legislators urge Fed to halt rate rises now
Forty four members of Congress urge Federal Reserve Chair Alan Greenspan to stop raising short term rates, saying no inflation signals justify higher rates. They warn further hikes would curb economic growth and job creation, while markets react with declines.
MENTIONED IN THIS ARTICLE
Washington
Congress
Federal Reserve
Alan Greenspan
Central Bank
Fed
Greenspan
Clinton
Stocks of local interest update noted
Local stock listings appear in a brief market update urging readers to call for quotes and to watch for the complete market wrapup in Saturday's Journal Word.
MENTIONED IN THIS ARTICLE
Journal-World
Midland Market Quotes and Livestock Prices Across Regions
Morning market rundown shows Midland Elevator Wheat 3.34, corn 2.56, milo 4.12, soybeans 6.69. Omaha market hogs mostly 50 lower, 215-260 lb 42.50-43.00. sows weaker. cattle and calves insufficient for testing. St Joseph quotations list feeder cattle declines and various weights with mixed price ranges. Dodge City reports slow trade with slaughter cattle down 50-1.00, week totals and weights noted. nonferrous metals and precious metals prices provided by AP and Metals Week. rates from Commerce Bank of Kansas City.
MENTIONED IN THIS ARTICLE
Midland
Dana, Nes
Usba
Omaha
U.S
St. Joseph
Dodge City Livestock Donae Cay
Kansas
New York
London
Comex
Disney posts 16 percent rise in quarterly earnings
Walt Disney Co reports a 16 percent jump in earnings for the January to March quarter, its second in fiscal year, with a record 248.4 million dollars in net income or 45 cents a share. Strong video releases and thriving consumer products offset weaker theme parks and several box office disappointments.
MENTIONED IN THIS ARTICLE
Walt Disney Co
Disney
Merrell Dow Q1 profits rise on Cardizem sales boost
Marion Merrell Dow Inc reports a 16 percent rise in first quarter profits to 86 million dollars, or 31 cents a share, on 708 million dollars in sales, up 15 percent from last year as Cardizem cardiovascular products drive growth. Merck names Martin Wygod as potential successor to Vagelos. Vagelos retires Nov. 1.
MENTIONED IN THIS ARTICLE
Marion Merrell Dow Inc
Merck & Co
Martin J. Wygod
Dr. P. Roy Vagelos
Wygod
Medco Containment Services Inc
Merck
Vagelos
NAFTA countries plan permanent currency swap mechanism
At a news conference hosted by Treasury Secretary Lloyd Bentsen, the United States Canada and Mexico announced plans for a permanent currency swap mechanism and regular economic consultations to help Mexico withstand a financial crisis.
MENTIONED IN THIS ARTICLE
United States
Canada
Mexico
Treasury
Lloyd Bentsen
Tenneco to sell 35 percent Case unit stake
Tenneco Inc plans a public stock offering to divest 35 percent of its Case farm and construction equipment division as it reports a 1994 first quarter earnings rise of 12 percent. The move comes as banks push interstate expansion and Senate changes reshape banking rules since 1956.
MENTIONED IN THIS ARTICLE
Tenneco Inc
Case Farm and Construction Equipment
Senate
Chrysler to Promote Natural Gas Vehicles in Joint Push
Chrysler Corp teams with utilities to market compressed natural gas vehicles to fleet buyers in major cities. Washington Gas Light and Chrysler hosted a regional conference to explain fueling and operations, aiming to solve the chicken or egg problem by lowering barriers to both vehicles and refueling stations. The gas fueled Dodge Caravan costs about 4800 dollars more than the gasoline model.
MENTIONED IN THIS ARTICLE
Washington
Chrysler Corp
Chrysler
Chrysler and
Washington Gas Light Co
Mike Clement
Clement
Ajit Ratra
U.S
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Lg Alo Ust As
Jane Bryant Quinn
Bee Gatas
Ee Renin
AlliedSs
Applebee's
Buckle Inc
Casey's
Dayton-Hud
FMC Fleming
Goodyear
Hercules
Kmart
Kroger
Labone Seaneevaenenes
Lone Star Sticks
Itihensae Eee
Mercantile
OMA
Office Depot
O'Reilly Auto Payless Cash
JC Penney
Pepsico
Quaker
Railroad Fin
Sallie Mae
Santa Fe
Sealright
Sears
Sthwest Bell
TRW
Trinova
Seeee
UtiliCorp
Wal-Mart
Western Res
Williams
Woolworth
Edward D. Jones & Co
Omaha Livestock
Handy & Harman
N.Y
Commerce Bank of
Kansas City
N.A
Commerce Bank
France
Germany
Great Britain
Italy
Japan
Switzerland
Marion
World Bank
Latin America
Asia
Africa
East Europe
The
Metropolitan Federal Office
Meta Federal Bank
Lawrence
Ene
Vermont Street
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