Wal-Mart profits surge in first quarter sales rise
Wal-Mart Stores Inc posted record first quarter profits of 387 million dollars or 34 cents a share, up from 307 million or 27 cents. Sales climbed 28 percent to 11.6 billion as the retailer benefited from trends in Easter timing and strong gadgetry investments.
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Wal-Mart Stores Inc
May Department Stores Co
May
Nordstrom Inc
Wal-Mart
Local and national stock roundup with cattle and hog quotes
Midday stock notes cover Midland Elevator wheat corn miln and soybeans. AP reports from St Joseph and Omaha hog and cattle quotes, plus New York and international market movements and a Kansas retirements fraud case involving Kenneth H. Koger.
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Midland Elevator
Lawrence
Trade gap to shrink in 1992 says Bush admin
The Bush administration predicted a gradual decline in the U.S. trade deficit in 1992 despite potential risks from Europe and Japan. The semiannual report cites modest U.S. growth, stronger Latin American demand, and a shift toward exports to Latin America and East Asia as factors supporting a smaller deficit, while warning of possible reversals if conditions worsen. The report notes 1991 deficits fell to 74 billion dollars, with exports up and imports down, and singles out China for alleged exchange-rate manipulation. It also flags concerns about Korea’s exchange and capital controls.
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GAO flags investor arbitration flaws in brokerage cases
A two year GAO review finds arbitration programs lack independent arbitrator recruitment and training, risking competence and impartiality. With fivefold growth in cases since 1980s, many investors face industry run panels and no avenue for review or appeal. The report, released by Dingell and Markey, urges reforms.
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General Accounting Office
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Supreme Court
Offeci
John D. Dingell
D-Mi
Edward J. Markey
D-Mass
Lawrence Chiropractor Wins 1992 Chiropractor of the Year
John H. Hill of Lawrence, practicing since 1980, was named 1992 Chiropractor of the Year by the Kansas Chiropractic Assn at its annual convention in Overland Park. He led the KCA as president in 1984 85 and chairs the legislative committee since 1986 while serving on education. Hill holds a KU degree and credentials from Cleveland Chiropractic College. His father, also John H. Hill, was the 1979 Chiropractor of the Year.
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Ds Ed
Treasury rates dip on short bills amid global markets
In Monday trading, U S Treasury sold 11.6 billion in three month bills at 3.64 percent, 11.7 billion in six month bills at 3.74 percent, both down from last week. The Fed reported one year T-bill yields at 4.2 percent, easing from 4.44 percent prior week as markets reassess rates. Phillips Petroleum cuts 1992 capital budget by 175 million, split between upstream and downstream investments amid softer oil prices.
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Bartlesville
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