Caliber Bank backs Arizona Mult iBank funding push
Caliber Bank invests 500000 dollars in the Arizona MultiBank Community Development Corp expanding funding to nearly 10 million across small business affordable housing and economic projects. Caliber CEO Lyle Knight joins the Arizona MultiBank board as the statewide group gains 41 branches and 1.8 billion dollars in assets. Nordstrom launches first women's direct mail catalog distribution next month as it tests a new direct sales arm with a 68 page offering. New Street Capital to be sold to Atlanta based Green Capital Investors L P forming merchant banking affiliate to manage Drexel Burnham Lambert assets and junk bonds post bankruptcy.
MENTIONED IN THIS ARTICLE
Caliber Bank
Arizona MultiBank Community Development Corp
Caliber
Arizona MultiBank
Lyle Knight
Nordstrom Inc
Nordstrom
Marylou Flynn
New Street Capital Corp
Drexel Burnham Lambert Inc
Atlanta
Green Capital Investors L.P
New Street
Green
Holcombe Green
Westpoint Stevens Inc
Drexel
DBL Liquidating Trust
Mirachem
James Edwards
Arizona
Edwards
Axtell Development
W.F. McWhorter
IBM project overruns push air traffic system overbudget
The FAA reports cost overruns exceed 1.2 billion on its 4 billion IBM contract to modernize the nation's air traffic control system. FAA chief Hinson orders a 45 day review to restore schedule and budget. IBM subsidiary Federal Systems Co. may be sold to Loral for 1.6 billion, unclear effect on the project. Treasury bills fall as three month rates hit 3.06 percent and six month at 3.26 percent. Fed notes one year bill yield at 3.60 percent.
MENTIONED IN THIS ARTICLE
IBM
Federal Aviation Administration
FAA
David R. Hinson
Federal Systems Co
Loral Corp
Treasury
Treasury Department
Federal Reserve
Southwest to buy Morris Air in $130 million deal
Southwest Airlines said it will acquire Morris Air of Salt Lake City for about $130 million in stock. The merger aims to extend Southwest’s West Coast reach while keeping Morris operating separately during a lengthy regulatory process.
MENTIONED IN THIS ARTICLE
Southwest Airlines
Salt Lake City
Morris
Morris Air
Southwest
Kelleher
Wall Street
New York Stock Exchange
June Morris
Phoenix
Tucson
Sky Harbor
United Airlines
S&L fraud cases head to federal court in Los Angeles
Two major savings and loan fraud cases return to federal court spotlighting Southern California as a center of white collar crime. Charles W. Knapp, former head of American Savings, faces sentence for defrauding Western Savings with a $15 million loan deception.
MENTIONED IN THIS ARTICLE
Los Angeles
California
America
Charles W. Knapp
American Savings
Western Savings
Knapp
Stockton
Calif
American
Western
Charles Keating Jr
Lincoln Savings & Loan
Keating
Bruce Dickson
Suit threatens Insurance Forum rights in copyright case
In New York the Insurance Forum faces a copyright First Amendment clash as A M Best sues editor Joseph M Belth to bar use of its rating system. Belth argues he may publish the ratings as news, while Best asserts proprietary control over their distribution.
MENTIONED IN THIS ARTICLE
New York
The
Insurance Forum
Forum
A.M. Best
Joseph M. Belth
Indiana University
Best
John Grillos
Belth
Quinn urges clear insurer ratings from rating agencies
Jane Bryant Quinn argues for transparent safety ratings of insurers by all major rating services. The Berth special ratings issue previously analyzed 1,437 insurers and details each rating from A.M. Best, Standard & Poor's, Moody's, Duff & Phelps and Weiss Research.
MENTIONED IN THIS ARTICLE
I. Berth
A.M. Best
Standard & Poor’s
Moody’s
Duff & Phelps
Weiss Research
Best
S&p and
Weiss
Tempe ventures seek capital from national investors
Nine Arizona companies including Albers Air Conditioning and Innovative Environmental Products sought 33.5 million dollars from leading venture capitalists at the Arizona Venture Capital Conference. The panel selected finalists, with investors noting a typical 90 day decision window and a rejection rate above 99 of applications.
MENTIONED IN THIS ARTICLE
Tempe
Albers Air Conditioning Corp
Innovative Environmental Products Co
Arizona
Arizona Corporation Commission
Arizona Department of Commerce
Arizona Small Business Development Center Network
Albers Air Conditioning Co
Walter Albers
Arizona Venture Capital
Arizona Biltmore Hotel
Albers
U.S
Europe
Middle East
Asia
Latin
Also Mentioned on This Page
Riers
Urris Air
Carlos Salcedo
Tribune
Sky Harbor International Airport
S&l
Associated Press
U.S. Attorney’s Office
Jane Bryant Quinn
Money Matters
Quinn
Dow Jones
Nyse Index
Murieca Aera
Nyse
S&p 500
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