Tighter rules to govern banks fund sales
Washington banks face new rules on mutual funds to prevent customers from assuming FDIC coverage. Comptroller Eugene Ludwig plans disclosures clarifying that funds are not insured, with possible statements for investors and tighter advertising rules as bank mutual fonds assets grow and consumer concerns rise.
MENTIONED IN THIS ARTICLE
Washington
Comptroller
Eugene A. Ludwig
Treasury Department
Federal Deposit Insurance Corp
Ludwig
Comptroller’s Office
Lee Cross
Liberty Financial Companies
Cross
Local Market and Stock Briefs
Midland Elevator quotes Wheat 2.95 corn 2.26 mile 3.71 and soybean 6.75 in a morning ledger. Omaha livestock quotes show hogs steady to higher. cattle and calves mix lower. sheep little changed. New York stocks drift narrowly with Dow 3518.85 and indices mixed ahead of inflation data. Nasdaq off slight after Intel earnings. QVC up on merger talk. gold shares volatile.
MENTIONED IN THIS ARTICLE
Midland
Lawrence
Omaha, Neb
USDA
Omaha
U.S
New York
Wall Street
New York Stock Exchange
NYSE
American Stock Exchange
Tokyo
London
Financial Times-Stock Exchange
Paris
Frankfurt
Sunshine
Echo Bay
Amex
Intel
QVC
Home Shopping
Northwest and Machinists reach tentative agreement
Northwest Airlines and its Machinists union announce a tentative pact to curb bankruptcy fears and buy time to repay debt. President John Dasburg says the step is necessary to save the company and preserve jobs while union leaders urge ratification this month.
MENTIONED IN THIS ARTICLE
Minneapolis
Northwest Airlines
John Dasburg
Northwest
John Massetti
Machinists
Trial begins over fare cuts in antitrust case
Houston AP reports a jury will decide if last summer’s cheap tickets by American Airlines were a fair sale on fares or an illegal bid to drive rivals out. Continental and Northwest filed a $500 million lawsuit accusing American of predatory pricing. Trial set to begin today, expected to last five weeks.
MENTIONED IN THIS ARTICLE
Houston
American Airlines
Continental
Northwest
American
Agreement would restructure debt and grant equity stake
If ratified, the debt would be rescheduled rather than forgiven. Employees could receive up to 37.5 percent ownership and three seats on the board.
Also Mentioned on This Page
American Association of Retired Persons
IBM
Igame
Ye New York
Kmart
AbtLab
Luzclab
AMD
Marriot
Alco Ltd
Masco
Martyn
At&t
BankAm
NewsCp
Va Norwats
Ya Baxter
Sears
Deere
Disney
SouthCo
Sprint
Exxon
Texaco
GM E
Unisys
WaiMrt
Welcom N
Omaha Livestock
Allied Sig Seseneeneener
Metropolitan Financial Natl Pizza Suanetes Duevass Raceunes Sevens
JC Penney Saege
Quaker Rere
Sallie Maesaeee
Santa Fe
Man Cela Investor Index
Money Funds
The
Federal Reserve, Investment Company Institute
Lehman Bros
Lipper Analytical Services
Merrill Lynch
Money Fund Report
Morgan Stanley Capital International
National Association of Real Estate Investment Trusts
Prudential Asset Management
Standard & Poor's
Robert Stanger & Co
World Gold “Oun
Money Magazine
Indiana
KU Medical Center
Bob Dole
Journal-World
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