IRA Fees Drop For Banks As Self Directed Options Rise
IRA fees fall at banks as many waive annual charges for IRAs while brokerage and mutual fund IRAs charge modest fees. Self directed IRAs offer tax sheltered trading with low minimums, enabling buy or sell flexibility and potentially higher long term growth. SEP plans allow self employed savers to cut 1993 taxable income with contributions up to limits, but require employer contributions for employees.
MENTIONED IN THIS ARTICLE
The
IRA Reporter
Mutual Funds
Markets register little reaction to credit tightening
Washington AP reports the Federal Reserve signals tighter credit to curb inflation, hinting at higher interest rates ahead. Analysts expect banks to raise the prime rate from 6 percent, with small-quarter moves likely as the Fed maintains a gradual approach to sustain the expansion. The Dow dipped marginally while 30-year Treasuries fell to 6.85 percent.
MENTIONED IN THIS ARTICLE
Fed
Washington
Federal Reserve
Alan Greenspan
Paul Getman
Regional Financial Associates
West Chester
Demand slows for big ticket U S durable goods orders
U S factories notched a 2.5 percent February drop in durable goods, the steepest since July, reversing January’s 4.4 percent gain. Transportation equipment fell 9.2 percent while excluding transport, orders were flat. Excluding defense, durable goods slipped 1 percent.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Defense
GMAT adds essay section to assess communication
Los Angeles Daily News reports that starting this October the GMAT will include two essay questions added to verbal and math sections. The Graduate Management Admission Council says the change aims to better measure communication, with essays graded 1 to 6. Some test takers can still sit March 19 or June 18 with possible late registration and a $25 walk-in fee.
MENTIONED IN THIS ARTICLE
Los Angeles Daily News
William Broesamle
Graduate Management Admission Council
Broesamle
GMAT changes add essay but shorten verbal and math
The GMAT will keep its four and a half hour length with an added essay section. Verbal and math parts will be shortened and the test price will rise from 52 dollars to 72. About 175,000 test takers annually. Linda Baldwin of UCLA and Annette Loschert of USC argue essays reveal candidate abilities beyond writing.
MENTIONED IN THIS ARTICLE
Annette Loschert
University of Southern California Graduate School of Business
Interstate banking bill gains broad House support
Washington AP report notes the interstate banking bill has cleared major hurdles with a quick House passage and a Senate committee vote. Supporters argue it aligns banking laws with modern electronic payments and serves residents near state borders. Critics fear future expansion into securities and insurance remains unresolved.
MENTIONED IN THIS ARTICLE
Washington
Congress
House
Senate Banking Committee
Senate
Stephen L. Neal
D-N.c
Met Life and Travelers discuss health care alliance
Metropolitan Life Insurance Co and Travelers Inc confirm exploratory talks on a health care alliance that could form one of the nation’s largest health insurance and managed care operations. They warn it is premature to speculate on outcomes. Visa joins firms to develop a universal do it all card for tolls calls and vending machines. An international nine firm group plans shared tech specs to create a global card standard for cross platform use.
MENTIONED IN THIS ARTICLE
Metropolitan Life Insurance Co
Travelers Inc
Visa
International
Financial Companies
Spectrum staffers arrested by feds
Federal authorities arrested one Spectrum Information Technologies employee and four from a related investment firm once owned by Spectrum’s president Peter T. Caserta. They face conspiracy and mail and wire fraud charges for a boiler room scheme allegedly raking in up to 1.7 million dollars annually from companies seeking financing. USAir launches spring fare sale with 198 298 and 398 round trips. other major airlines match on competitive routes.
MENTIONED IN THIS ARTICLE
Apple Computer
John Sculley
Spectrum Information Technologies Inc
Spectrum
Peter T. Caserta
Usair
Northeast
Florida
Midwest
Local Stocks and Market Update Note
Local stocks update and stock market numbers appear in the Journal World. Dial for local quotes and watch for the complete market wrapup in Saturday edition.
MENTIONED IN THIS ARTICLE
Journal-World
Midland and regional livestock and commodity quotes
As of this morning Midland Elevator Lawrence lists wheat at 3.31, corn 2.75, milo 4.41, soybeans 6.84. Omaha market shows hogs weak to lower with 1 3s at 43.50 to 44.25, cattle and calves in light supply, and sheep none. St Joseph reports feeder cattle receipts 4,200 with steers and heifers mostly steady to down. hogs weaker. Dodge City notes active feedlot sales and steady slaughter prices. New York metals and precious metals quotations listed with spot and futures prices. Rates from Commerce Bank of Kansas City.
MENTIONED IN THIS ARTICLE
Midland Elevator
Lawrence
Omaha, Neb
USDA
Omaha
U.S
St. Joseph Livestock
St. Josept
Dodge City
Kansas
Also Mentioned on This Page
Ersonal Finance
Jane Bryant Quinn
U.S. Dept. of Commerce
Linda Baldwin
Anderson Graduate School of Management
University of California, Los Angeles
Insurers Mulling Alliance
Feds
AlliedSig
Office Depot
Sealright
Goodyear
Sears Sesaneeseny
Hercules
Sthwest Bell
Kmart
TRW
Kroger
Trinova
Labone
UtiliCorp
Wal-Mart
Western Res
Williams
Omaha Livestock
Commodities
New York
London
Comex
Handy & Harman
Mercury
N.Y
Commerce Bank of
Kansas City
N.A
Commerce Bank
Canada
France
Germany
Great Britain
Italy
Japan
Mexico
Switzerland
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