Private rescue attempt for Continental Illinois rejected
In Chicago and Fort Worth the Continental Illinois bank rescue faltered as Bass Brothers Enterprises was deemed not an active participant. Hut Edward S Bottom of Continental Hhnes Corp said the private bid did not fit needs, leaving federal regulators as the sole remaining negotiator amid reports a federal agency may own 80 percent.
MENTIONED IN THIS ARTICLE
Chicago
Continental Illinois National Bank & Trust
Bass Brothers Enterprises Inc
Texas
Continental
Hut Edward S Bottom
Continental Hhnes Corp
Bass Brothers
Bass
Viki
Fort Worth
Hass Brothers
FDIC plan eyed to take Continental loans, wipe equity
The New York Times reports the FDIC has a plan to assume Continental's problem loans in exchange for control, potentially wiping out 80 percent of shareholders equity and likely changing management. The plan would require no new cash from the FDIC and aims to shrink losses to 10–20 percent. Meanwhile Murdoch bids to acquire controlling stake in St Regis, offering 524 a share for about 870 million with approval by St Regis board.
MENTIONED IN THIS ARTICLE
The
New York Times
Federal Deposit Insurance Corp
Continental
FDIC
Alan Whitney
Washington
Times
Contnental
Alastair Davie
NEM York Iar
Nuptrt
St Reis
St Regis
John Rourke
Murdoch
Peter Rosenthal
Evadna Lynn
St Regas
Merl Lynch & Co
St Regs
New York
Dachenge Murdoch
New York Past
Chicago Sun Times
Boston Herald
San Antonio
George Adler
SA Regis
Smith, Barney, Harris Upham &C
No Market Delayed By AP Transmission Technical Issues
The stock market did not open today as trading was delayed due to technical problems with the Associated Press transmission facilities. Officials warned that normal operations would resume once communications were restored and a full update would follow.
MENTIONED IN THIS ARTICLE
Associated Press
Renovation of Historic District Business Underway in City
Plans call for interior and exterior remodeling of Ge Bendoriah Tha as tetan. Frederick Contractors Inc leads the project with J Hernard Vallandingham and Archie Rogers among the team. Mayor Ronald N. Young and Historic District Commission chair G Bernard Callan attend the briefing as work expected to finish in about eight weeks with normal business hours maintained.
MENTIONED IN THIS ARTICLE
Ge Bendoriah
Frederick Contractora
Sam Yu
Also Mentioned on This Page
Treilench
St. Regis
Dow Lunes Industrials
Dondon
Avemco Corp
SX Corp
Comsat
Exxon i
Fairchild Ind Wii
Hy P&m Bancorp
Bits
Fst
MD Bac
Otis Gen Motors Btss Ay Genex
GenStar Tita
Aly
IBM MoTim
Kmart
Litton
Lowes Tae Se Mack
Marnott Corp
MD Natl Cp
Mercantile Bnokshr
Murphy
Penney
Plania
Fotom Elzanchyd Ryan Homes
Tin Safeway
Sears Jats
Standex
Tandy
Ronald Z. Sulchek
Certified Public Accountant
Mt. Aetna
Hagerstown
Dick Kessler
Frederick
Crete
Betes
LYNX
MacPharson
DuraSpark
Ford Credit
Ford Credit Red Carpet
Humber
Ford Crow
Ford Motor Credit Company
Lincoln
Evergreen Point Frederick
Dcimle
Tynx
At&t Information Systems
At&t
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