Richest of the rich hold steady wealth in Fortune list
Fortune magazine 1992 ranking shows the world’s billionaires averaging 2.7 billion dollars in wealth, unchanged from 1991. The sultan of Brunei remains first with about 37 billion, while Walton heirs of Walmart total around 24 billion, with signs of restraint and quieter living among the ultra rich.
MENTIONED IN THIS ARTICLE
Brunei
Fortune
Mecca
Rolls-Royce
Timos
USA Today
Beverly Hills
America
Wal-Mart
Sam Walton
Walton
Iroquois Pipeline to pay state $1 million in settlement
The Iroquois Gas Transmission Systems agreed to pay $1 million to fund restoration of the pipeline right of way and settle state and federal litigation over 196 environmental violations tied to building a 370 mile Can ada to Long Island pipeline. The company also provides $500,000 for a conservation fund and adds $500,000 to expand a $10 million land preservation drive.
MENTIONED IN THIS ARTICLE
Iroquois
State Public Service Commission
Iroquois Gas Transmission Systems
PSC
Canada
Long Island
Canenes
Alannes
Shelton
Amex Forms Gulf Region Credit Card Venture
American Express Co. said it has formed a joint venture with Riyadh based Mawarid Grey to operate its credit card services in the Persian Gulf. The venture will serve Bahrain Kuwait Oman Qatar Saudi Arabia and the United Arab Emirates offering the same services to Amex personal gold and corporate cardholders.
MENTIONED IN THIS ARTICLE
American Express Co
Persian Gulf
Mawarid Grey
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates
American Express
Last hour of selling drags stocks down
The stock market tumbled in the last hour of trading on Wednesday with bank and homebuilding shares leading losses. The Dow fell 22.42 points to 3,307.06 as declines outnumbered advances by about 2 to 1 at the New York Stock Exchange.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Top 10 billionaires in Fortune 1992 ranking list
Fortune magazine lists the world’s wealthiest in 1992 led by Sultan of Brunei with 37 billion from oil gas and investments. The Walton family, Taikichiro Mori and family, Forrest Mars and kin, Samuel J Newhouse Jr and family, Queen Elizabeth II, King Fahd, Anne Cox Chambers, John Werner Kluge, and Gad Rausing with fortunes from real estate, media, publishing, packaging, and other industries.
MENTIONED IN THIS ARTICLE
Fortune Magazine
Fortune
Sultan of
Brunei
Walton
Mars Inc
Samuel J. Newhouse Jr
Donald E. Newhouse and
Hawaii
Media and
John Werner Kluge
Virginia
Gad Rausing
Hans Rausing
England
Real estate tycoon Mori lives modestly despite fortune
Taikithiro Mori of Japan, who built most of his 14 billion dollars in real estate, rents subcompact cars and stays at budget motels. At 88, Mori travels to the office daily and maintains a modest lifestyle.
MENTIONED IN THIS ARTICLE
Nod
Taikithiro Mori
Japan
Mori
Ghoulish sales of life insurance policies from dying patients
Regulators in North Dakota and the NASAA flagged firms trading life insurance policies of terminally ill people as potentially illegal. They argue some outfits target specific lives for investors while others insist they are selling policies, not securities. Investors buy policies at a discount, pay premiums until the insured dies, then collect the payout.
MENTIONED IN THIS ARTICLE
North Dakota
Glenn Pomeroy
North
American Securities Administrators Association
Pomeroy
June trade shows rebound in exports and imports growth
Economists flag a notable June rise in U S exports by 7.2 percent and imports to a record 44.876 billion, narrowing the merchandise trade deficit to 6 591 billion. Analysts cite weak dollar benefits and stronger consumer demand while warning inventories may inflate import gains.
MENTIONED IN THIS ARTICLE
U.S
United States
Carol Stone
Nomura Securities International
Stone
Fewer Jobs and Pay Tied to Prolonged Slump
The Labor Department reports 5.6 million displaced workers from 1987 to 1992 with blue-collar losses totaling 1.9 million. White-collar and construction staff also fell, while only 53 percent found full-time work by 1992, down from 72 percent in 1990, signaling a broad pay and job search downturn.
MENTIONED IN THIS ARTICLE
Labor Department
Harvard University
James Medoff
Larry Mishel
Economic Policy Institute
Washington
Busch Wins Battle Over Coors Ad Claim
A federal judge lifted a week old ban on Anheuser-Busch ads mocking Coors claim of Rocky Mountain water. Coors had sued for 10 million dollars claiming the ads were false. The court found no literal falsehood and allowed the campaign to continue.
MENTIONED IN THIS ARTICLE
Coors
Rockies
Virginia
Anheuser-Busch Cos
Rocky Mountain
Colorado
Northeast
Golden
Colo
Anheuser- Busch
Airline fare war sinks profits as summer travel shocks industry
American Airlines projects a loss exceeding 48 million dollars in the July to September quarter as heavy discounting squeezes margins amid record industry traffic. Analysts warn a dismal year awaits the sector despite higher passenger volumes, with trimmed fares dampening profits for carriers overall.
MENTIONED IN THIS ARTICLE
American Airlines
American
Lee Howard
Airline Economics Inc
Washington
Michael J. Durham
Fares Cut Up To 44 Percent On U S and European Routes
Airlines report ongoing losses as a new pricing structure reduces top prices and American carriers see dramatically lower revenue per mile per passenger. This summer fares to U S cities Europe and the Caribbean have been cut up to forty four percent.
MENTIONED IN THIS ARTICLE
Durham
U.S
Europe
Caribbean
Blacks Excluded From Fashion Ads In Magazine Review
Consumer Affairs Commissioner Mark Green announced a review of 2 108 ads in 10 magazines showing only 5 2 percent of models were African American. Black models were often depicted as athletes obscured by crowds or used in corporate philanthropy ads.
MENTIONED IN THIS ARTICLE
New York City
Mark Green
Also Mentioned on This Page
The
Associated Press
Dan Padovano
Iroquois Pipeline
Harry Beach
Orwood Place
Syracuse
Anthonson
David Lassman
Nosoyre Elbridge
Brzostek
Knight-Ridder Financial News
Knight- Ridder Financial News
Commerce Department
N.Y. Times News Service
Busch
AMR Corp
Ins
N.Y. Timas News
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