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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Aug 05, 1985
Page
5
Maryland officials move to align 19 thrifts with federal FSLIC rules by issuing bond anticipation notes to cover future net worth requirements. The state will gain liens via net worth certificates, while avoiding upfront funds. If a thrift fails, notes may be covered by bonds and remaining assets.
Washington AP reports the IMF faces pushback from Third World nations seeking debt relief options beyond strict austerity. Cuba's Fidel Castro urges delay in repayments. Peru's Alan Garcia proposes minimal payments. Debtor leaders in Latin America explore plans to divert funds for home investments while maintaining some creditor appeasement. Nigeria, Sudan, and others resist devaluation and debt rescheduling efforts. Banks fear loses but rely on IMF backed packages to preserve monetary stability.
Two couples take over Walkersville Wine and Spirits Ltd on Frederick Street Keating Clark and Mary and S Michael Rasberry and Carlyle operate the shop The store offers beer wine and liquor and will relocate to Walkers Village Shopping Center this fall Opening hours are 10 am to 10 pm Monday to Wednesday and 10 am to 11 pm Thursday to Saturday Contact number 845 2222 for details
In Tennessee Spring Hill GM pursues a greenfield Saturn plant to compete in subcompact market amid a union workforce. Past lessons from Lordstown show worker involvement in quality control and rising expectations for new plant practices. The Vega failure lingers as GM bets on lower costs and new management in a retooled factory setting.
Economists remained divided on how quickly the economy will improve into the second half of the year. Some forecast robust growth near 5 percent annually in late 1983, while others warned growth may slow to about 3.5 percent in the period. The latest reports showed a 1 percent rise in the Leading Indicators in June, steady unemployment, 245,000 new jobs, and a 1.9 percent rise in factory orders, with manufacturing up and imports boosting the June trade deficit to 13.4 billion dollars.
New figures show mutual funds sold 46.2 billion dollars of new shares in the first half of 1985, a record, with net inflows around 6 billion monthly. Most money went into government and municipal bond funds, while equity funds reduced share of assets, prompting analysts to say investors seek income and safety amid stock market uncertainty.
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