Bond funds face lower returns after 1993 gains
Bond fund investors enjoyed double-digit gains in 1993 amid falling rates and an improving economy, led by target maturity and junk bond funds with 19.92 and 19.25 percent returns respectively. World income funds rose 17.03 percent, while mortgage-backed securities lagged. Rising rates may curb future performance, cautions Lipper analysts.
MENTIONED IN THIS ARTICLE
A. Michael Lipper
Lipper
Robert Peck
American Capital Management & Research
Europe
Japan
Market wrapup preview for Saturday Journal World
The Saturday Journal-World teases a complete market wrapup with latest stock quotes and market sentiment. Readers are invited to check the upcoming issue for full performance details, notable movers, and a comprehensive price snapshot.
MENTIONED IN THIS ARTICLE
Journal-World
Market quotes from Midland Elevator and Kansas CT cattle sales
This morning quotations show Midland Elevator Lawrence: Wheat 3.80, corn 2.93, milo 4.82, soybeans 6.77. AP market notes Hog prices at Omaha 135 for U.S. 220-260 lb and 44.00-44.50, sow declines. St Joseph reports hogs at 43.00-43.50 for 230-270 lb, 41.50-42.50 for 270-290 lb. Kansas City feedlot sales thin, 94,100 head week to date, steers 73.50 dressed basis, heifers 73.00-73.50, with purchase rates and shrinkage noted.
MENTIONED IN THIS ARTICLE
Midland Elevator
Lawrence
Dana, Neb
Usda
Omaha
U.S
St. Joseph
St. Joserh
Food Barn in merger talks with main supplier
Kansas City area chain Food Barn Stores negotiates selling its 41 stores to Associated Wholesale Grocers, risking 2400 jobs as union wage cuts stalled. CEO Hodges says agreement aimed for today’s bankruptcy hearing, while AWG and union stance remain unclear.
MENTIONED IN THIS ARTICLE
Kansas City, Mo
Kansas City
Food Barn Stores Inc
Associated Wholesale Grocers Inc
Kan
Larry Hodges
Food Barn
U.S
Frank W. Roger
Hodges
Frank DeRiso
United Food & Commercial Workers Local 576
Retail sales rebound to pre recession growth in 1993
December sales rose 0.8 percent to 180.6 billion, capping a 6.2 percent annual gain to 2.08 trillion. Auto dealers led with a 12.4 percent rise, furniture 10.7 percent, building supplies 9.8 percent, and hardware 7.3 percent, as consumer spending benefited from low interest rates and an ongoing recovery. Unemployment claims fell to 354,000 for the week ending Jan 8, the lowest since Christmas.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Labor Department
Tower Plaza finally open with 13 tenants in Lawrence
Tower Plaza Shopping Center in the 2500 block of South Iowa Street is finished and fully leased to 13 tenants including Pride Cleaners Blimpies Sunkissed Tanning Microtech Computers Maggie MOO Sally Beauty and more. Applebee’s Restaurant opened nearby joining the strip center. Ribbon cutting set for Friday at 11:30 a.m. Hopkins notes weather and subcontractor shortages delayed construction by a year. He may pursue further Lawrence developments despite a soft economy in California.
MENTIONED IN THIS ARTICLE
Tower Plaza
Bob Hopkins
Iowa Street
Applebee’s
Lawrence Chamber of Commerce
Hopkins
el Cajun
Calif
Volkswagen
Pride Cleaners
Blimpie’s
Sunkissed Tanning
Microtech Computers Inc
Maggie Moo’s
Post Net
America’s Rent To Own
Countrywide Funding Corp
School Specialty Supply
Sally Beauty Supply
Hill's Furniture
Kopp’s Carpeting and Lighting
Colorport Inc
Lawrence
Paramount urges rejection of Viacom bid in merger with QVC
Paramount Communications Inc. board urges shareholders to spurn Viacom Inc. and back a merger with QVC Network Inc. The decision follows a four month bidding war with a Feb. 1 deadline set, guided by Paramount Chairman Martin Davis who earlier favored a friendly deal with Viacom.
MENTIONED IN THIS ARTICLE
Paramount Communications Inc
Viacom Inc
QVC Network Inc
Paramount
Martin Davis
Viacom
Amex Unveils First New Card in Seven Years
American Express introduced the Corporate Purchasing Card to capture a share of the $250 billion annual small purchases market. The new card targets routine buys under $1,000 such as stationery and computer paper, aiming to streamline procurement in large corporations.
MENTIONED IN THIS ARTICLE
American Express Co
American Express
Corn harvest forecast cut again amid drought and floods
The U S Department of Agriculture reduced its 1993 corn crop estimate to 6.34 billion bushels, 33 percent below the 1992 record and 2 percent under last November’s forecast, reflecting severe drought and flood impacts.
MENTIONED IN THIS ARTICLE
U.S. Department of Agriculture
Department
USAir targets funeral industry with cargo promotion
USAir pursues funeral industry business by offering a free round trip domestic ticket to funeral directors for every 30 corpses shipped. Since the October launch, 12 tickets have been given, spokeswoman Andrea Butler said. Bodies account for about 5 percent of USAir cargo.
MENTIONED IN THIS ARTICLE
Usair
Andrea Butler
AlliedSignal to cut jobs at Olathe plant
About 100 workers in Olathe face layoffs as AlliedSignal Aerospace phases out several departments including sheet metal, printed circuit boards, plating, paint, panel decorating and molding. Union officials plan a formal protest while management cites cheaper outside contractors and higher productivity. The firm also operates a Lawrence plant and plans to consolidate Lawrence and Ottawa production there this year.
MENTIONED IN THIS ARTICLE
Olathe
AlliedSignal Aerospace
AlliedSignal
Kevin O'Hara
O'Hara
O’hara
Haskell
Lawrence
Bendix/King Radio Mobile Communications
Ottawa
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