Economy slows as GDP grows 2.6 percent in Q1 1994
Washington report shows first quarter growth at a moderate 2.6 percent annual rate, with exports, home building, and business construction softness driving the slowdown. Clinton officials call the pace healthy and inflation tame, while analysts note weather and the Los Angeles quake may skew figures. Labor, factory orders, and inventories also shift, with Fed rate expectations rising.
MENTIONED IN THIS ARTICLE
Washington
Commerce Orparneen
United States
Clinton
Allen Sinai
Lehman Brothers
New York City
Stephen §. Roach
Morgan Stanley & Co
New York
Commerce Department
Commerce
Ron Brown
Europe
Japan
Rcent
Federal Reserve
Los Angeles
David Orr
First Union Corp
Charlotte
N.C
Fed
Labor Department
Detroit
Mr. Roach
Dow Drops as Bond Rout Triggers Market Slide
New York stocks fell sharply as bond prices plunged and rates surged. The Dow Jones Industrial Average dropped 31.23 to 3,668.31 with more decliners than advancers on the NYSE, while the Nasdaq Composite slipped 2.52 and major indices ranged lower across the day.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Standard&Poor
Dow Jones
Marriot Gu
Loraleee
Avemco
Marriott Torus Corp Bell Atl
BioWhittaker
Mercantile Jack Dr
Unchgd Bakshr
Citizens Bank
Moore Cor
Kcsx Cor
Nations Bank
Coca Cola
H Penney
Comsat
Pepsico
Rown Amer
Potomai
Exxon
Sears
Fcnb Corp
USF
F&m Bancorp
Wash Gs
First United
Weis
Giant Foods
Ferris Gte Corp
USF&G Q1 earnings fall 62 percent in 1994
Baltimore AP reports USF&G Corp. says first quarter earnings dropped 62 percent due to a one-time benefit booked in Q1 last year. Net income totaled 23 million dollars, 13 cents per share, down from 62 million dollars, 58 cents a share a year earlier.
MENTIONED IN THIS ARTICLE
Baltimore
Usf&g Corp
Open forum on tax policy led by Rep Armey in Rockville
An open meeting led by Rep Dick Armey R Texas will be held at 7 p m Tuesday May 3 at the Holiday Inn Crowne Plaza Rockville The session is free and open to the public presented by the National Policy Forum a Republican Center for the Exchange of Ideas For more information call 202 544 2900
MENTIONED IN THIS ARTICLE
Dick Armey
R-Texas
Holiday Inn
Crowne Plaza
Rockville
National Policy Forum
Republican Center For the Exchange of Ideas
Software piracy costs billions in 1993 losses worldwide
A 54 country survey places business software piracy losses at 12.8 billion dollars for 1993. The Business Software Alliance notes the piracy rate fell slightly while dollar losses rose, contrasting with a separate 7.4 billion estimate from the Software Publishers Association. Both exclude operating and entertainment software and rely on different methods and country counts.
MENTIONED IN THIS ARTICLE
Washington
Robert Holleyman
Business Software Alliance
The
Software Publishers Association
Grace first quarter earnings rise on healthcare profits
Boca Raton AP report shows W. R. Grace & Co. posting a 35 percent earnings rise in Q1 aided by higher health care profits while specialty chemicals lagged. Grace earned $38.2 million or 41 cents a share versus $28.3 million or 31 cents a share a year ago. Revenue grew 9 percent to $1.08 billion from $986 million.
MENTIONED IN THIS ARTICLE
Boca Raton, Fla
W.R. Grace & Co
Grace
Frederick bank earns highest Bauer five star rating
Farmers and Mechanics National Bank in Frederick receives Bauer Financial Reports five star rating for safety and soundness. The Florida based evaluator cites the bank as among the strongest and most creditworthy institutions in the United States based on financial data analysis.
MENTIONED IN THIS ARTICLE
Farmers and Mechanics National Bank
Frederick
Bauer Financial Reports
Florida
F&m Bank
U.S
Prudential to Cut Jobs at Frederick Mortgage Center
Prudential Home Mortgage operations in Frederick plan layoffs as the mortgage market shrinks. Senior VP Doug Rossbach says the Frederick site, largest for the company, will see unspecified cuts aimed at 12 percent nationwide. About 1,500 local workers may be affected. May will bring exact numbers and outplacement aid.
MENTIONED IN THIS ARTICLE
Prudential
Frederick
Doug Rossbach
Edison
270 Technology Park
Rossbach
MD. 355
Residential Services Corp of America
Prudential Home Mortgage
Technology and Operations Group
Rossbache
Mack wins UPS contract for 600 engines in Hagerstown
UPS ordered 600 new trucks with engines built at Mack Trucks in Hagerstown. It follows two other big bets in seven weeks, including Matlack’s 759 Mach CH tractors and a joint Renault VI venture for 300 French military tank transports. Employment impact at the 2,1 worker plant remains undecided.
MENTIONED IN THIS ARTICLE
Renault VI
Mach
John Mies
Hagerstown
Mack
Better Business Bureau Luncheon With Orioles Owners
The Better Business Bureau of Greater Maryland will hold its annual luncheon at noon on Wednesday May 25 at the Sheraton Inner Harbor Hotel in Baltimore. Speakers include Peter Angelos and Governor William Donald Schaefer. For more information call (416) 347-3990.
MENTIONED IN THIS ARTICLE
Better Business Bureau of
Greater Maryland
Sheraton
Peter Angelos
Baltimore Orioles
William Donald Schaefer
Also Mentioned on This Page
Dow
Standard&Poor's Industrials
Yalich
Mark Fedorczyk
Rockledge Plaza RT. 40 West
First General Mortgage Company
First Virgina Bank
Alliance
Diane Smboldo
Silbiger and
Coleman
Law Westminster
Elizabeth O. Segal
Kristine Slagle
Doctor’s Optical
Doctor's Optical
Middletown
Valley Bank
A.P.R
East Main St
Jeff'n
Pika
W. Main St
FDIC
ED Waters JR
News-Post
Toam
National Bank Region
Farmers & Mechanics National Bank
State OF
Maryland
Cain
Federal
U.S. Treasury
Equity Capital
Kenneth M. Sabanoah
Kenneth M. Sabanosh
Albert H. Cohen J. Richard Crouse
Martha E. Church
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