Americans shy on asking for raises and credit incentives grow
A Lutheran Brotherhood survey shows only 22 percent of 1,000 workers asked for a raise, with 52 percent of those receiving one. Women more often request raises (24%) than men (20%), but men succeed more (59% vs 45%). Other findings include debtors citing other obligations as top reason for late bills, and unemployment ranking second. American Express offers $55 yearly credit and 30 free MCI minutes monthly to cardholders who enroll with MCI, while Chase Manhattan closes its futures brokerage unit over the next 3 to 6 months. A Dallas lawyer, J Marc Hesse, is acquitted of defrauding Victoria Savings, and Sallie Mae seeks privatization authorization from Congress as it shifts toward a direct loan model.
MENTIONED IN THIS ARTICLE
Lutheran Brotherhood
New York
American Express Co
American Express
MCI
Washington D.C
San Antonio
Dallas
Victoria Savings Association
J. Marc Hesse
Hesse
David Schick
Robert Mark Pitzer
Ronnie Eldon Collins
Pitzer
Collins
Financial sector outlook features Fed signals and market players
Money Magazine through AP reports on the money market landscape with input from Bank Rate Monitor the Federal Reserve Investment firms and rating agencies including Lehman Brothers Lipper Merrill Lynch Morgan Stanley Standard & Poor's Prudential Asset Management and World Gold Council.
MENTIONED IN THIS ARTICLE
Bank
the Federal Reserve, Investment Company Institute
Lehman Bros
Lipper Analytical Services
Merrill Lynch
Money Fund Report
Morgan Stanley Capital International
National Association of Real Estate Investment Trusts
Prudential Asset Management
Standard & Poor's
Robert Stanger & Co
World Gold Council
Policy review keeps foundation solid for homeowners
Financial advisers urge homeowners to annually review home insurance. Check for holes in coverage, consider replacement cost with inflation guard, and assess special items like art or jewelry. Look for premium savings, possibly by raising deductibles, while ensuring essential protections remain intact.
MENTIONED IN THIS ARTICLE
New York
Murray Schwartzberg
American Institute of Certified Public Accountants
Schwartzberg
Golden years retirement study warns boomers not saving enough
A Stanford study funded by Merrill Lynch says baby boomers save only about one third of what they need, risking lower living standards in retirement. The model shows couples earning 75 000 a year would need 65 000 by age 45 and 325 000 by 65, with many groups far short of targets.
MENTIONED IN THIS ARTICLE
Florida
Stanford University Economics
B. Douglas Bernheim
Merrill Lynch & Co
Wall Street
Socia
Bernheim
Irene
Roger C. Hindman
Price Waterhouse
Road to Retirement Thesis Sparks Debate on Saving Boomers
The piece notes many baby boomers may only receive small inheritances and face higher needs, with Social Security and Medicare cutbacks looming. Bernheim warns of severe savings gaps if Social Security falls 35 percent, while critics urge caution over alarmist scenarios and costly incentives. Gary Burtless counters that broad deficit reduction could raise growth and living standards.
MENTIONED IN THIS ARTICLE
Bernheim
Cena
Gary Burtless
Choosy banks raise deposits and fees to lure affluent customers
Banks push higher deposit minimums and charge for teller service to boost profits. They target affluent households earning $75,000 or more, while mass market customers face lower revenue figures. Data from Vanes Inc. of Tampa shows revenues by income group.
MENTIONED IN THIS ARTICLE
Ter
Les Dinkin
NEW Consulting Group
Westport
Conn
Tampa
Fla
Banks shift to select customers as old fashioned service fades
New York banks raise deposit minimums raise fees and push electronic banking to prize higher income clients. Banks justify by higher branch costs and teller pay, while critics warn small savers lose access. Citibank converts a low fee account for a Bronx borrower, limiting free withdrawals and threatening closures for excess use. Affluent customers generate far more revenue, driving core product pricing and service choices.
MENTIONED IN THIS ARTICLE
New York
Joe Gabris
Bronx
Citibank
Citicorp
Gabris
Also Mentioned on This Page
Western Union Financial Services
Chase Futures Brokerage
Chase Manhattan Corp
Chase
Chase Manhattan Futures Corp
Victoria Savings Trial
Sallie Mae
Washington
Student Loan Marketing Association
Congress
Lawrence A. Hough
Clinton
Money Magazine
NYSE
Policy Review
KRT News
Vanes Seems Inc
Tampa, Fla
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!