Load versus no load funds split over half a century
The mutual fund battle between load and no load funds endures after more than 50 years of growth. No-load funds hold about one third of assets in long term stock and income funds, with shares and class structures complicating the choice. Industry leaders defend choice, while critics argue charges undermine simplicity and push investors toward no-load DIY options.
MENTIONED IN THIS ARTICLE
Sheldon Jacobs
Investment Company Institute
Washington
Don Phillips
Morningstar Mutual Funds
Chicago
Phillips
Industrial output climbs again led by autos in December
U S industrial production rose 0.7 percent in December marking the seventh gain in a row as auto plants boosted activity. The year 1993 saw output up 4.2 percent from 1992 with capacity use at 83.5 percent, while inventories rose 0.6 percent and sales surged 1.1 percent in the fourth quarter.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Commerce Department
GTE to cut 17000 jobs amid tech shift in sector
GTE Corp plans to lay off about 25 percent of its phone related workforce over three years and take a 1.8 billion dollar charge to keep pace with rapid tech changes. Citicorp sets aside 425 million for restructuring and aims for 2.2 billion in 1993 earnings while pursuing Quotron asset sales to Reuters. Alaska Airlines and flight attendants reach a three year labor settlement, terms similar to a Southwest pact, disclosed by Ray Vecci and Gail Bigelow.
MENTIONED IN THIS ARTICLE
GTE Corp
GTE
Citicorp
Quotron
Reuters America Holdings Inc
Alaska Airlines Inc
Ray Vecci
Gail Bigelow
Association of Flight Attendants
Southwest Airlines
Rise in mobility as economy improves prompts more moves
The Census Bureau reported a rising number of Americans moving homes as the economy strengthens. About one in six people relocated between March 1991 and March 1992, totaling 42.8 million Americans who changed residences.
MENTIONED IN THIS ARTICLE
Census Bureau
Global oilseed output forecast for 1993 94
The Agriculture Department projects world oilseed production at 223 million tons for 1993 94, down 3.6 million from last year s record. Foreign output is seen at 165.4 million tons, up 1.2 million from last month and 7 million from a year ago, with gains in China the European Union and Brazil. Soybeans drive the rise while sunflowerseed and cottonseed prospects slip. U S production is 57.7 million tons, down 10.1 million from last year. U S soybean output is 49.2 million tons or 1 809 million bushels, down 25 million bushels from last month.
MENTIONED IN THIS ARTICLE
Agriculture Department
Department
China
European Union
Brazil
U.S
Local Stocks Market Update Line Prompts Dial In
The Journal World invites readers to dial 865 5000 and enter 9100 for a stock market update and 6730 for the latest local quotes. A complete market wrapup appears in Saturday’s Journal World.
MENTIONED IN THIS ARTICLE
Journal-World
Commodity and livestock quotes from Midland to Kansas City
Market notes list Midland Elevator wheat at 3.81 corn 2.98 milo 4.91 and soybeans 7.02. Livestock quotes cover Omaha and St Joseph hogs and sows, with gilt and barrow prices, cattle and calves, and weekly Kansas City area slaughter data. Rates reflect bids and weights, with weekly totals and bank-provided reference.
MENTIONED IN THIS ARTICLE
Midland Elevator
Lawrence
Omaha Livestock
Omaha, Nec
Usba
Omaha
U.S
Inventories and sales rise in November
Washington reports inventories rose 0.6 percent to $875.1 billion in November, the strongest gain in nearly three years, while sales climbed 1.1 percent to $606.9 billion. The inventory to sales ratio edged to 1.44, with retail inventories up 1.4 percent, factory stocks up 0.1 percent, and wholesale stocks rising 0.5 percent.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Food Barn may offer new wage package
Food Barn Stores Inc moves in bankruptcy court to sell its 41 stores to Associated Wholesale Grocers Inc. The deal could keep the chain intact while union leaders say a concessionary wage and benefits package may be presented to 2,300 United Food and Commercial Workers Local 576 members by month’s end.
MENTIONED IN THIS ARTICLE
Kansas City
Food Barn Stores Inc
Larry Hodges
Food Barn
Associated Wholesale Grocers Inc
Associated
Missouri
Wichita
St. Joseph
Derby
el Dorado
Kingman
Kan
Frank DeRiso
United Food & Commercial Workers Local 576
DeRiso
Hodges
Gore hosts first computer based news conference from White House
Vice President Al Gore led a 45 minute online news conference from the White House as about 900 computer users across the country and even France participated. He read typed questions scrolling on screen while responding, with questions focused on the national information infrastructure and its impact on daily life. The event, tied to U S News & World Report, used Compuserve Information Service with brief technical glitches and minimal in person interruption.
MENTIONED IN THIS ARTICLE
Washington
al Gore
White House
Gore
California
France
Bosnia
Larry H. Lewis
Alta Loma
Calif
Hello
Reynoldsburg
Ben Huntoon
Ohio
West Wing
U.S. News & World Report
Compuserve Information Service
C-Span
Also Mentioned on This Page
Aurce
Federal
Ve Board
Allied Sig Applebee’s
Buckle Inc
CommBancsh
Dayton-Hud
Fleming
Goodyear
Hercules
HORL
Kmart
Kroger Feehe Ay Nee Ove
Lone Star Sticks
Mercantile
Merck
Natl Pizza
Sealright
Sears
Sthwest Bell
TRW
Trinova
UtiliCorp
Wal-Mart
Western Res
Williams Fore
Edward D. Jones & Co
Dodge City Livestock Dance City
Kansas
Commerce Bank of
N.A
Commerce Bank
Canada
Germany
Great Britain
Italy
Japan
Mexico
Switzerland
Terrace
Douglas County
West
le Kansas
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