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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Mar 05, 1999
Page
7
Freddie Mac reports the 30 year fixed rate averaged 7.06 percent this week, the highest in nine months, up from 6.89 percent prior week. Fifteen year mortgages avg 6.7 percent and one year adjustable rates 5.74 percent. Points average 1 percent.
Dell Computer Corp will buy 816 billion of equipment from IBM under a seven year deal and jointly develop new computer technology. The plan includes Dell sourcing disk drives, memory chips and flat panel displays from IBM while pursuing broader technology sharing and co developing see products.
Democratic lawmakers propose bills requiring card issuers to show in writing how long to pay off balances and the total cost at minimum payments. The measure would also clarify teaser rates, revocation conditions, and restrictions for under 21s, amid rising bankruptcies and consumer debts.
NationsBank ranks first in SBA lending in the Baltimore District covering most of Maryland and also tops the Washington area. It marks the second year at the top and is the nation’s largest lender to small businesses. The bank merged with BankAmerica in September and will operate as Bank of America with assets totaling $618 billion.
A new independent agency named Employersedge of Maryland launches from a partnership of Riggs, Counsel man, Michaels and Downs United States Insurance Services and Fireman's Fund Insurance Co. It targets about 45 000 Maryland employers with 5 to 99 workers and offers low cost workers compensation coverage. Further details are on its website at wwwemployersedge.
Frederick contractor Morgan-Keller moves forward on its new two story tilt up concrete headquarters off Thomas Johnson Drive. A large crane was in place positioning rail sections for the 30 000 square foot building. The company spokesman said this is the first two story tilt up concrete construction project in the county.
A trustee sale is scheduled for 0 30 am Friday March 19 at the Fredenck County Courthouse 100 W Patrick St for the former Johnny Ys Diner property and improvements off Spectrum Drive The sale will be followed by a personal property sale and an equipment and accessories sale near the FSK Mall For more information call Harold Kuliman CTS Capital Corp 732 646 1500
Frederick Community College’s marketing and public relations office earned a gold medal in the 14th annual Admissions Advertising Awards, with a first place poster for Schools over 10,000 students and a second merit in the same category. The winning high school posters feature a senior with a skateboard and urge youths to consider higher education.
The Edward Jones office at 201 Thomas Johnson Drive Frederick will host a live broadcast with Jack Welch chief executive of General Electric on Monday March 8. For information call 301 694 7770.
Mason-Dixon Chapter of the Institute of Management Accountants will meet at 6 30 pm on Thursday March 18 at the Fireside Inn Hagerstown. Cost 10 for students 25 for members. Speaker Steve Klick of Allegheny Power will discuss deregulation of utilities. Meeting may qualify for one hour of professional education. Reservations 301 735 4300. Circuit City reports February 1999 and fiscal year 1999 sales up 25 percent to 892.7 million and 22 percent to 10.80 billion respectively.
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