APS offers 100 million mortgage bonds by utility
Arizona Public Service Co. offered 100 million dollars of 10 year first mortgage bonds at 99.531 par with a 6.625 percent coupon. Yield to the public is 6.69 percent. Salomon Brothers led a nationwide underwriting group with CS First Boston and Goldman. J P Morgan, Citicorp and Chemical Securities participated as underwriters. Proceeds to repay debt and for general corporate purposes per APS treasurer Nancy Newquist. APS is a Pinnacle West Capital subsidiary and Arizona’s largest utility with over 640,000 customers.
MENTIONED IN THIS ARTICLE
Arizona Public Service Co
Salomon Brothers Inc
CS First Boston
Goldman, Sachs & Co
J.P. Morgan Securities Inc
Citicorp Securities Inc
Chemical Securities Inc
Dow declines as inflation concerns deepen on Wednesday
The Dow Jones fell 19.98 points to 3891.68 after gains from Tuesday eroded as investors worried about inflation and higher rates. Greenspan signaled possible future tightening but cautioned that timing remains uncertain and price pressures appeared damped.
MENTIONED IN THIS ARTICLE
Federal Reserve
Alan Greenspan
Fed
Greenspan
Two-Year Treasury Yields Rise to 14 Month High
Treasury notes maturing in two years sold Wednesday with a high yield of 4.66 percent, the apex since December 1992. The 4 percent coupon notes of $10,000 face value traded at $9,993.40 as $17 billion were sold from $42.9 billion in bids.
MENTIONED IN THIS ARTICLE
Treasury
McDonnell Douglas talks to sell Douglas Aircraft stake to Finmeccanica
Long Beach based Douglas Aircraft is in talks with Finmeccanica, an Italian state backed group through IRI, for a deal worth about 1 billion dollars to sell 10 to 20 percent of Douglas Aircraft within two weeks. McDonnell and Douglas officials would not comment.
MENTIONED IN THIS ARTICLE
McDonnell Douglas Corp
Long Beach
Douglas
John Thom
Finmeccanica
Alenia
Chrysler awards 100% bonuses to top 200 executives
The Detroit News reports Chrysler Corp paid bonuses equal to last year’s salary to its top 200 executives for meeting goals that yielded a $3.8 billion operating profit in 1993. The award covers directors, department managers, vice presidents and above, per unnamed Chrysler executives cited by the paper.
MENTIONED IN THIS ARTICLE
Chrysler Corp
Detroit News
Chrysler
AEPCO Accused of Excessive Spending by Arizona Panel
Arizona Corporation Commission staff accused AEPCO of tax mismanagement and millions in wasteful spending. Audits cited over 200000 dollars in travel by top managers plus improper attorney payments and unbid major purchases. Officials defended AEPCO noting rate cuts and ongoing legal appeals.
MENTIONED IN THIS ARTICLE
Mesa
Arizona Corporation Commission
Benson Based
Arizona Electric Power Cooperative
AEPCO
Brouwer
Commission
Murphy and Maconachy Inc
Santa Ana
Calif
Kimball
Competitive Banking Market Stands Out Nationally
In a rare snapshot of the sector, analysts highlight one of the most competitive banking markets in the country. Institutions vie for deposits, loans, and consumer trust amid thin margins and evolving regulations shaping pricing, product choice, and customer service.
First Interstate Poised For No 1 In Arizona Banking
William S. Randall CEO of First Interstate Bank Southwest says the bank aims for the top spot in Arizona as Bank One and Bank of America Arizona compete. With 7.2 billion in assets, First Interstate moves to new offices, regional leadership, and tech oriented efficiency while stressing community focus.
MENTIONED IN THIS ARTICLE
William S. Randall
First Interstate Bank
Southwest
First Interstate
Randall
Bank One
Bank of America-Arizona
Phoenix
Tempe
University Center
MicroAge
Phoenix Suns
Sign of improved economy as bankruptcy filings drop in 1993
1993 saw 652 filings in the Phoenix district down from 827 in 1992 and about 64 850 nationally for 1992 93. Experts credit cautious corporate behavior and a housing boom with more restrained risk taking and loan restructurings easing debts while large leveraged firms already filed for bankruptcy.
MENTIONED IN THIS ARTICLE
Federal Bankruptcy Court
Phoenix
Administrative Office of
U.S. Courts
Washington
D.C
Marcia Busching
Sacks, Tierney & Kasen
Busching
Peter Sorensen
Arizona bill would expand business input on rules
A Senate panel backed SB 1236 to require agencies to notify regulated groups before drafting new rules and to give lawmakers more say in the process. The plan would allow public input early, limit counties from stricter rules without scientific need, and face concerns that local health protections could weaken. County officials warn tighter controls could raise costs and harm public health.
MENTIONED IN THIS ARTICLE
Senate
Senate Committee On Commerce and Economic Development
Regulatory Review Council
Chuck Shipley
Arizona Chamber of Commerce
Karen Heidel
Maricopa County
Heidel
Also Mentioned on This Page
APS
Tribune Wire Services
Dow
McDonnell
Deaie
Electric Co-Op
Co-Op
Mesa Electric Department
Salt River Project
SRP
Donald Kimball
Corporation Commission
Jerry Brouwer
City of
Dave Cruz
Tribune
Martha Reinke
Tribune Business
Bob Reilly
Dana Larsen
Arizona Common Cause
Nyse Index
Ste
Maur Cages
Nyse
Merck
S&p
U.S
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