Greenspan backs phased deregulation mix for banks and securities
Greenspan urged Congress to delay wholesale bank deregulation and pursue a measured step by repealing the Glass-Steagall Act to allow holding companies to own both banks and securities firms. He endorsed Wirth Graham and D Amato Cranston proposals, with cautions on rigidity and a supervisory coordinating body.
MENTIONED IN THIS ARTICLE
Washington — Federal Reserve Co
Span
Congress
Ing
Moe
Prmcipie Su
William D-Wis
Jake Garn
Tren mi
Am Bank
Seto
Aelo
U P
Beth
Sens
Tumot
Wirth
Dcolp
Bob Craham
Dfpra
Federal Reserve Bank of New York
E. Gerald Corrigas
Wirth-Graham
Financial Services Oversight Commission
Dean Witter
Sears
Alfonse D'Amato
R-N-Y
Alan Cranston
D-Calif
D'Amato
Greenspan
Proxmire
Retailers report steady post-Thanksgiving sales in New York region
Statewide retail sales from Nov 22 to 29 rose about 3 to 4 percent year over year with some weekend gains up to 8 percent. Syracuse merchants reported strong in-store traffic on Salina Street and Armory Square as stores extended weekend hours. Local retailers credited mall events at The Galleries and heavy weekend foot traffic for optimism despite unemployment fears.
MENTIONED IN THIS ARTICLE
Retail Council of
New York State
Mark Alesse
Alesse
Syracuse
Laurie Reed
Downtown Committee
Salina Street
Armory
Addis Co
Desirian Causeway
Armory Square
Reed
Eureka Studios
Ghost Rider Antiques
Stewart Andrews
Clinton Square
Dan Padovano Named Executive Business Editor
Dan Padovano has been appointed Executive Business Editor with the 470-2297 number for day coverage starting December 2, 1987. He assumes responsibilities across the newspaper’s business desk and will oversee daily financial reporting and market news.
MENTIONED IN THIS ARTICLE
Dan Padovano
Fanam Strikes Pilot deal as unions press buyer efforts
A deal with Fanam pilots could undercut a yearlong union bid to find a buyer for the carrier. A creditors panel approved an interim Texaco Penzoil pact and declined to disclose terms. A new Southland buyout financing plan emerged with warrants to buy stock, funded by General Motors and AT&T, totaling $2.1 billion organized by Morgan Stanley.
MENTIONED IN THIS ARTICLE
Fanam
Texaco
General Motors
At&t
Morgan Stanley
Stocks of Local Interest At Midday on Major Exchanges
Local stocks quoted at midday on both the New York and American Stock Exchanges with some trades over the counter. Dean Witter Reynolds provides quotations and market commentary for these prices.
MENTIONED IN THIS ARTICLE
New York
Dean Witter Reynolds
Trade ministers fear crisis as stock rout hits GATT talks
In Geneva, Sosuke Uno warned the free trading system faces a grave crisis due to October stock collapses and volatile exchange rates. Clayton Yeutter urged long term reforms while discussions focus on agriculture subsidies and expanding multilateral talks under GATT.
MENTIONED IN THIS ARTICLE
Geneva
Japan
Tues
Sosuke Uno
Clayton K. Yeutter
U.S
Uno
GATT
Willy de Clercq
European Economic Community
United States
EEC
Shearson Agrees to Buy E R Hutton for About 1 Billion
Dow Jones News Service reports Shearson Lehman Brothers Holdings plans to acquire E F Hutton Group in a deal valued around $1 billion. The tentative merger would create a massive retail brokerage, with Hutton assets and staff based in Syracuse. simultaneous talks with Dean Witter and other bidders are noted.
MENTIONED IN THIS ARTICLE
Shearson Lehman Brothers Holdings Inc
E.F. Hutton Group Inc
Dow Jones News Service
Financial News Service
Aiggest Investment
Hutton
Syracuse
Atrium
Dan Johnston
Shearson
Witter Financial Services Group
Sears, Roebuck & C
Dow Jones
Dean Wiiter
Merrill Lynch & Co
Equitable Life Assurance Society
United States
Bright farm future seen for U S agriculture
Washington report from the USDA outlook conference projects farm income up to a record 44 to 46 billion for 1988, exports rising, grain prices firm, and food prices up 2 to 4 percent. Secretary Lyng cautions past accuracy doubts but notes improvements.
MENTIONED IN THIS ARTICLE
Washington
Department of Agriculture
America
Agriculture
Richard Lyng
Rying
Lyng
GSDA
Ietals
James Donald
World Agricultural Outlook Board
Dean Kleckner
American Farmeal Federation
Also Mentioned on This Page
Alan Greenspan
Syracuse Herald-Journal Business & Real Estate
Charles Chappell Jr
Chappell’s Department Stores
Chappell
Treasury
Genenahran
Stock Exchange
Goulds
Allied Sug
Seervvien
Irving
Kemper
Key Corp
Hase Manhattan
Marne Mi
Chrysler
Norstar
Gant Info
NYNEX
Fa Cooper
Bank Syst
Paymond
Skaneateles
New Syracuse Supply
Saserraii
Clayton Yeutter
General Agreement On Tariffs and Trade Assembly
Switzerland
E.R Hutton
New York Stock Exchange
American Express Co
Laurel Fry
Dean
Tom Webb
Total
Germany
Taante
United
Ce En Iertzerund
Portugal
Bers
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