Mellon Bank to buy Dreyfus in $1.85 billion deal
Mellon Bank will acquire The Dreyfus Corp in a 1.85 billion transaction, signaling banks expanding into nontraditional financial services. The merged group would surpass 3 billion in revenue and 215 billion in funds under management, creating a diversified financial services firm.
MENTIONED IN THIS ARTICLE
Mellon Bank
Dreyfus
Prodigy Forms Media Alliances for Online Newspaper Editions
Prodigy, the IBM and Sears joint venture, partners with Media General to launch online editions of The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal. It debuts an online edition of Advertising Age and forges ties with Cox Enterprises for The Atlanta Journal-Constitution and Valley Tribune titles.
MENTIONED IN THIS ARTICLE
Prodigy
Media General Inc
Tampa Tribune
Richmond Times-Dispatch
Winston-Salem Journal
Advertising Age
Crain Communications
IBM
Sears, Roebuck
Cox Enterprises Inc
Atlanta Journal-Constitution
Cox
Tribune
Scottsdale Progress Tribune
Times Mirror Co
Los Angeles Times
Newsday
New York
Treasury yields slide across three maturities on calm week
Three month bills yield 3.15 percent with a 3.10 percent discount. Six month notes yield 3.34 percent with a 3.26 percent discount. One year bills yield 3.55 percent with a 3.43 percent discount. Fed notes one year yield at 3.62 percent after a 3.61 percent prior week. 30 year bond price up $3.75 per $1,000, yield 6.20 percent down from 6.23 percent.
MENTIONED IN THIS ARTICLE
Treasury
Federal Reserve
Sales tax hike faces business opposition in Arizona NFIB poll
A survey of Arizona NFIB members shows 61 percent oppose a proposed half-cent sales tax to fund freeways, 22 percent in favor and 17 percent undecided. NFIB State Director Tim Mooney cites tax fatigue as a factor while overhauls slow freeway miles. NFIB nationally claims 607,000 members with nearly 8,000 in Arizona employing more than 90,000 residents.
MENTIONED IN THIS ARTICLE
Arizona
National Federation of Independent Business
NFIB
Tim Mooney
United States
Motorola to expand 52nd Street facility in Phoenix
Motorola plans a $100 million redevelopment to expand its 52nd Street semiconductor site in Phoenix. The project adds a 185,000 square foot water fabrication building on the 100 acre campus, supporting hundreds of new jobs and a phased start in early 1994. A public hearing will be held to discuss plans.
MENTIONED IN THIS ARTICLE
Motorola
52Nd Street
McDowell Road
Tommy George
Motorola’s Worldwide
George
Phoenix
Survey finds lowest homeowners' insurance rates in Mesa
The Homeowners' Insurance Premium Comparison Survey from the Arizona Department of Insurance shows Pacific Employers Insurance Co offering the lowest Mesa premiums at 230 dollars yearly for a masonry home and 242 dollars for a frame dwelling. National Fire Insurance Co. has the highest rates at 584 dollars for masonry and 625 dollars for frame homes. Susan Gallinger notes the guide answers common consumer questions, and the department offers copies by calling 912-8444.
MENTIONED IN THIS ARTICLE
Ae Ts Stiama SM Ee Mum Ee Aarvasi Premium Insurance Company
Masonry Frame Ptoprcemporici Pe Ee Bae
Economy Premier Assurance Co
Transamerica Indemnity Co
United Services Automobile Assn
Penn
Colonial Penn IC
American Fire & Casualty IC
Federated Mutual IC
Prudential Property & Casualty IC
Royal Inerinity
Arizona
Twin City Fire IC
American Family Mutual IC
Grain Dealers Mutual IC Wh
Federal IC
National Fire IG Res Ok Het
Pacific Employers Insurance Co
Mesa
Arizona Department of Insurance
National Fire Insurance Co
National Fire
Susan Gallinger
Department of Insurance
Bell Atlantic's HopeLine aids homeless job search locally
Bell Atlantic Mobile will bring its HopeLine voicemail service to Valley shelters within a month to help homeless individuals contact employers. The program, already in nine states, allows 24/7 messages to assist job searches and housing needs, with case workers regulating eligibility and message forwarding.
MENTIONED IN THIS ARTICLE
Bell Atlantic Mobile
HopeLine
Benjamin Scott
New Jersey
Telephone Company
Bell Atlantic
Providence
R.I
Steve Fleischer
Salvation Army
Central Arizona
Dave Wiley
Wiley
la Mesita Family Emergency Services Center
Mesa
Mary Orton
Central Arizona Shelter Services
Don’t be had by hype over tax-free unit trusts
New York reports warn investors to be wary of brokers touting 7 percent yields from tax-free unit trusts. Many trusts hold high rate municipal bonds issued in the early 1980s, which can trigger capital losses when called, lowering total returns. The SEC requires disclosure of current and long-term returns, and investors are advised to compare with tax-exempt mutual funds for clarity.
MENTIONED IN THIS ARTICLE
New York
Unit Trust
Securities and Exchange Commission
Anit-Trust
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