US settles old dispute with Martin Marietta
The US Attorney’s Office announced a 63 million settlement resolving a defense contract dispute involving Martin Marietta Corp. The case traces back to a 1990 deal tied to General Electric’s defense units and a 1990 King of Prussia subsidiary’s criminal conviction. GE paid 20 million to resolve related charges, with prior fines totaling 10 million and two managers sentenced for misleading cost disclosures.
MENTIONED IN THIS ARTICLE
Martin Marietta Corp
General Electric Bo
Aerospace
King of Prussia
Martin Marietta
Bethesda
Giarammita
Damel Wilkins
Chester
Federal Defense Criminal Investigative Service
Wilkins
Defense Giant
Pennsylvania
Marc Martin Marietta Carp Central New York Plants
Marc Martin Marietta Carp operates two Syracuse and Utica plants in Central New York employing about 3,800 workers. The firm researches and manufactures ocean radar and sensor systems for defense and commercial markets.
MENTIONED IN THIS ARTICLE
Martin Marietta Carp
New York
Syracuse
Utica
AST unveiling color-only laptops market shift
Ast Research Inc of Irvine California introduces its first color only portable notebook and updated color models aimed at consumers and budget businesses. The move follows rival reductions to monochrome lines as color portable computing expands with aggressive pricing.
MENTIONED IN THIS ARTICLE
AST Research Inc
Irvine
Calif
Cotor
Consumers pile up debt defying savvier reforms in credit boom
Americans accumulate more than $10 billion in new installment debt each month March through May driving a 187 percent annualized growth, with credit cards leading the charge. Bankers push back, noting improved financial management and lower loan losses, while discretionary borrowing fuels the surge and risks of high-cost debt return to 1980s levels.
MENTIONED IN THIS ARTICLE
Federal Reserve
Credit card debt and rising rates shift consumer habits
RAM Research president Robert McKinley cites 32 percent of bank card holders paying in full monthly, up from 29, with trends likely to rise but still well below 55 percent a decade ago. About 70 percent of cards have variable rates, quarterly adjustments, and July statements may bring rate hikes. The average rate sits at 17.66 percent, influencing strategies like paying balances in full or “card churn” to chase lower introductory rates.
MENTIONED IN THIS ARTICLE
Robert McKinley
RAM Research
Frederick
North Palm Beach
Fla
Susswein
Ruth Susswein
Bankcard Holders of
America
McKinley
Hybrid ARMs spark renewed lender interest nationwide
Adjustable rate mortgages regain traction after the refinancing boom as lenders introduce hybrids like 10 1s and 7 1s with fixed periods and caps. Rates rose slowly while fixed loans climbed faster, making ARM products attractive to borrowers seeking lower initial costs and easier qualification.
MENTIONED IN THIS ARTICLE
Federal Housing Fiance Board
HSH Associates
Butler
Treasury
Keith Gumbringer
Gumbinger
Also Mentioned on This Page
Knight-Ridder Newspapers
Marc
The
Associated Press
Herald-Journal
Malcolm Berko
New York Times News Service
Ruth Sussweim
Bankcard Holders of America
Salem
Eure
Fie Fey
NY Times
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