Quinn presses Honda for California assembly plant
California official Tom Quinn met Honda Motor executives Masami Suruki and Kazuo Nakagawa near Tokyo as he pursues a possible Honda car and motorcycle assembly factory in California. Honda will study sites in the United States, including California, amid ongoing U.S. talks on farm policy and global food security. Quinn plans visits to Nissan, Toyota, and Toyo Kogyo later this week.
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Masami Suruki
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Nissan Motor
Toyota
Japan
Toyo Kogyo
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Bob Bergland
World Food Council
Philippines
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Market mixed as rally loses steam
New York stocks closed mixed as gains faded from Friday momentum. Dow Jones industrial average slipped 2.29 points to SX trade volume eased while CitiBank kept prime rate at 6 percent amid speculation of a rate rise next day.
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IRS probe finds 418 dubious slush funds
Washington AP report says a tax probe of U S corporations uncovered 481 possible slush funds, 71 potentially tied to criminal fraud, from audits of about 1,200 major firms since April 1975. IRS officials say 88 answered the questionnaire by March, 43 spouses flagged slush fund issues, and 71 cases were sent to intelligence for possible fraud prosecutions. Commissioner Jerome Kurtz calls the probe productive and promises continuation.
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