Southwest promotes C Webb Crockett to board member
Southwest Airlines elected C Webb Crockett, a Phoenix attorney with Fennemore Craig since 1963, to its board of directors. Crockett, who chairs and advises several local groups, brings nine board members. Also named was Kathryn Munro as president of Bank of America Arizona, replacing James Albo. A Phoenix grand jury indicted Danny Green, a former Scottsdale estate agent, on eight counts for a mortgage fraud scheme inflating property prices to secure nearly $2 million in loans.
MENTIONED IN THIS ARTICLE
Southwest Airlines
C. Webb
LDS Social Services
Crockett
Bofa
Kathryn Munro
Seafirst Bank
Seattle
Bank of America Arizona
James Albo
California
Munro
Bofa Arizona
David Hanna
Arizona
Phoenix
Danny Green
Scottsdale
Green
Beechnet Tiely
Paradise Valley
Mesa
Macy’s Plans Reorganization to Return to Public Ownership
R H Macy and Company proposed a plan to shed to restore public ownership while carrying a manageable 2 billion dollar debt load. The outline envisions repayment of 3.6 billion of nearly 6 billion in debt on emerging from bankruptcy protection and possibly another 500 million in 1997. Macy’s aims to exit Chapter 11 in January 1995.
MENTIONED IN THIS ARTICLE
R.H. Macy & Co
Macy
Spectrum chief on leave amid company probe and arrests
Spectrum Information Technologies Inc. said president Peter Caserta took an indefinite leave to clear his name after five people tied to another firm he recently sold were arrested Tuesday. Caserta could not be reached for comment and was not charged in the case.
MENTIONED IN THIS ARTICLE
Spectrum Information Technologies Inc
Ie Computer Inc
John S . Spectrum
Peter Caserta
Caserta
Banks raise prime rate as Fed tightens credit
Banks move to lift the prime lending rate for the first time in five years in response to the Federal Reserve tightening. Norwest Bank Minnesota led with a jump from 6 percent to 6.25 percent, followed by Chemical Bank of New York, Chase Manhattan, Banc One, and First Interstate Arizona. Clinton defended the move as necessary to curb inflation while saying the economy is on the rise.
MENTIONED IN THIS ARTICLE
Federal Reserve
Clinton
Fed
Norwest Bank
Minnesota
Chemical Bank of New York
Chase Manhattan
Banc One Corp
Columbus
Ohio
First Interstate
Arizona
Tom Ellis
Fed Raises Federal Funds Rate By Quarter Point
The Federal Reserve increased the federal funds rate by 0.25 percentage points as part of its efforts to slow inflation. The move signals tighter borrowing conditions, which could slow consumer spending but also curb price gains, with varying effects across households and sectors.
Survey finds smaller cars more reliable than minivans
Consumer Reports readers rate 486000 vehicles from 1991 to 1993 model years, with Japanese models topping reliability charts in most segments. Toyota Tercel and Infiniti G20 lead small and compact cars while Maxima tops mid sized.
MENTIONED IN THIS ARTICLE
Detroit
Consumer Reports
Bob Knoll
Consumer Magazine
Durable goods orders fall 2.5 percent in February
U S factory orders for durable goods declined 2.5 percent in February, the first drop since July, as a sharp fall in defense orders and volatility in aircraft and parts pulled down overall activity. Weather and temporary factors cited. analysts see potential rebound.
MENTIONED IN THIS ARTICLE
Washington
U.S. Manu
Department
Michael Niemira
Mit
Commerce Department
Advertising boom for Valley TV and radio boosts market
Local TV and radio ad sales surge as the Valley recovers from a late 80s to early 90s downturn. Executives note 10 to 20 percent gains in 1994 with high demand for prime time slots as banks housing autos and retail rebound. National firms like US West AT&T and Xerox push more ads while budgets shift to reach broader audiences.
MENTIONED IN THIS ARTICLE
Rita Sanders
Tempe
Sanders
Mike Horn
Results Media
E.B. Lane and Associates Advertising
Horn
Don Locker
KSAZ
Channel 10
Mike Dee
KPHO
Channel 5
US West Communications
At&t
Xerox
Bob Podolsky
KNIX
Also Mentioned on This Page
Airline
Spectrum
Federal Reserve Board
Alan Greenspan
White House
Caeniaah
The
Associated Press
Subishi Bank
New York City
Bruce Steinberg
Merrill Lynch & Co
Bob Reilly
Tribune
S&p 500
AMEX
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