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Newspaper
Mesa Tribune
Location
Mesa, Arizona, United States of America
Date
Feb 08, 1994
Page
13
The Teamsters and United Parcel Service reached a late settlement on a package handling dispute while a damages hearing proceeded. The agreement limits to 70 pounds without aid and requires labeling for packages over 70 pounds. Members are ordered back to work.
The Salt River Project board approved 57,500 in contributions to civic groups and arts. The Phoenix Symphony receives 25,000, Celebrate Nature at the Phoenix Zoo gets 10,000 in cash and services, Desert Botanical Garden 10,000, and Valle Del Sol Inc. 12,500 for counseling and treatment programs.
The Treasury sold 12.7 billion in three month bills at 3.24 percent, up from 2.99 percent, and 12.7 billion in six month bills at 3.40 percent, up from 3.16 percent. The three month rate was the highest since 3.26 percent on December 14, 1992, and the six month rate the highest since 3.43 percent on that date. Discount rates imply returns of 3.31 percent for a 10,000 bill and 3.51 percent for a six month bill.
U S borrowing climbed at an 11.2 percent annual rate in December aided by holiday shopping. The Federal Reserve said the late-1993 surge pushed total consumer debt to about 780.8 billion dollars, revising November’s rise to 10.7 percent from 10.6 percent.
The Blue Chip Economic Forecast shows Arizona’s population rose 7.4 percent from 1990 to June 1993, placing seventh nationally. Nevada led with 15.6 percent, Idaho 9.1, Alaska 8.9, Colorado 8.3, and Washington and Utah at 8.0. Arizona gained about 250000 residents, with 2.7 percent growth between June 1992 and June 1993.
The Associated Press reports Western Arizona led growth with the Yuma metro area in Yuma County gaining 10 percent from 1990 to July 1, 1992. Phoenix rose to No 8 among big cities with 1,012,230 residents as of July 1, 1992. Arizona's population reached 3.96 million by July 1, 1993.
John Sculley, ex-Apple chairman, quits Spectrum Information Technologies and sues for 10 million, alleging Caserta duped him. Spectrum stock plunges more than 50 percent on Nasdaq as SEC probe and accounting issues surface and volume surges to 36 million shares.
America West Airlines and SkyMall Inc. announce a partnership to expand in flight shopping and concierge services. A 136 page SkyMall catalogue will be offered on Boeing 757 and A320 planes with seat telephones for toll free orders. Passengers can order dinners, theater tickets, or make hotel deliveries, with airport or hotel delivery in major cities and a SkyMall Factory Outlet in Phoenix.
New York stocks rallied Monday led by cyclicals as investors weighed the Fed rate move. Dow Jones gained 34.90 to 3906.32 while decliners slightly outpaced advancers. volume was 346.8 million shares. General Motors up 1 percent and International Paper up 0.5 percent amid signs of recovering economy.
The piece weighs cash-value life insurance as a private pension, noting tax shelters and tax free loans, but warns about agent omissions. It urges using employer matches in 401 k plans first, then IRAs or Keoghs for higher growth, while highlighting tax implications of withdrawals. It ends with a referenced note about Quinn Ba.
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