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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jul 20, 1988
Page
6
Maryland dealers sold 158,420 new cars and light trucks in the first six months of 1988, up 1.3 percent from the prior year, as dealers cope with a weaker dollar by offering shorter, lower profit deals and a stronger buyers market.
Baltimore Federal Financial hired First Nationwide Robert Management Group to manage problem real estate and delinquent loans while seeking a buyer. The board approved the contract and FSLIC signaled support. The thrift, one of Maryland’s largest, posted a $120 million loss last year and $77.4 million in the red in March as talks with potential buyers continued.
Commercial Credit Group Inc reported continuing operations up 35 percent to 31.9 million in the 1988 quarter, with per-share from continuing operations at 71 cents, driven by higher consumer finance and insurance revenues. The firm, NYSE listed, posted 238.1 million in revenues, up 4.5 percent from the prior year.
Delaware independent counsel David H. Williams says the New Castle County Vocational Technical school board will hew to a wide remit as he probes alleged payroll padding tied to Superintendent Conrad C. Shuman and wife Patricia T. Shuman. Williams plans to review district files and interview staff while assessing the state auditor’s findings.
Ask Mr Foster Travel Consultants promotes dependable service for travelers of all sizes in Western Maryland. The agency emphasizes commitment to client needs and invites new customers to try their planning expertise for trips and business travel.
The Commerce Department shows housing starts at a 1.45 million annual rate in June, up 5.1 percent from May but only partly offsetting a 12.6 percent May drop. Analysts warn that rising mortgage rates and high long-term costs will curb home building through 1988, despite dry weather boosting single-family homes.
The Dow fell 20.63 to 2097.26 as fears over rate direction weighed on a day of mixed earnings. NYSE volume stood at 144.11 million shares with decliners ahead about 9 to 5. the broader indices also slipped, including the S and P 500 and Nasdaq, while IBM and Seagate among techs faced losses.
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