Rate drop hits money market funds and auto layoffs deepen
The week saw 26 straight declines in money market mutual fund assets to 169.7 billion as withdrawals rise after new money market deposit accounts appeared. Yields edged down with seven day at 7.79 percent and 30 day at 7.83 percent. Auto workers face 300 more indefinite layoffs. car production falls 8.6 percent while major automakers report 207,850 workers on indefinite furlough. FDIC warns five Tennessee banks failed costing nearly 80 million. United American Bank collapse adds 90 million. West German tool steel underpriced with potential duties. MGIC reports 75 percent tumble in Q1 operating income. Chrysler cancels 200 million bond sale, will rely on cash for June 15 payment.
MENTIONED IN THIS ARTICLE
Investment Company Institute
Donoghue
Money Fund Report
Holliston
Mass
U.S
Ward
Automotive Reports
Chrysler
Ford
General Motors
Federal Deposit Insurance Corp
Tennessee
Alan Whitney
United American Bank of Knoxville
FDIC
Commerce Department
United States
Department
Thyssen Edelstahlwerke
Arbed Saarstadl
Edelstahlwerke Buderus
Bank Customer Rates Vary By Institution
Customer rates shown here are approximate and may differ among banks. Rates to clients can vary by lender and product, with individual terms affecting the final figure.
Area coalition warns of soaring gas prices under Reagan plan
Harold Leibovitz of the Labor Energy Coalition warned in Syracuse that President Reagan's deregulation proposal could raise natural gas prices by 67 percent over four years and cost New York 30,000 jobs. The NGCRA would roll back prices to 1982 levels and cap future increases, potentially saving consumers over $700 in four years.
MENTIONED IN THIS ARTICLE
Reagan
New York
Citizens' Group
Syracuse
Harold Leibovitz
Labor Energy Coalition
Leibovitz
Coalition
Agen
Energy Information Administration
NGCRA
Kyle Stewart
Consumer Group
House of Representatives
Richard Gephardt
D-Mo
George Wortley
Fayetteville
Anheuser-Busch opens Baldwinsville brewery with record sales
Anheuser-Busch marked the official opening of the Baldwinsville brewery. Dennis P. Long highlighted rapid capacity expansion to 7.2 million barrels next year, with 900 jobs expected and emphasis on water supply from New York state as a key factor. The ceremony included a gold-plated commemorative barrel presented to Baldwinsville and Clydesdale hitch parades.
MENTIONED IN THIS ARTICLE
Anheuser Busch
United States
Baldwinsville
Dennis P. Long
Anheuser-Busch
Long
Syracuse
Lake Ontario
Onondaga County
Daniel J. Uzelac
Dennis Rapp
New York State
Arheuser-Busch
New York States
Cuomo
Shining Star
Radisson
Jos
Schlitz
Sheehan Distributing Co
A-B
Sheehan
Massachusetts
Carrols expansion includes acquisitions and growth plan
Syracuse based Carrols Development Corp announces expansion through the Jo-Ann's Nut House acquisition and 95 Burger King restaurants. Slotnick says the group targets record revenues for the year and sees Jo-Ann's as a modest earnings contributor before a surge in following years. A $15 million credit line with Marine Midland Bank The Bank of New York and Merchants National Bank will fund the expansion across eight Northeastern states.
MENTIONED IN THIS ARTICLE
Carrols Development Corp
Jo-Ann's Nut House
Burger King
Herbert N. Siotnick
Carrols
Ja- Ann’s
Nut House
Maine
Iowa
Florida
Slotnick
Carroll
United States
Jo-Annn’s
Jo-Ann’s
Syracuse Company
Jo-Ann's
Marine Midland
Bank of New York
Merchants National Bank
Key Bank of Central New York
Bankers Trust Co
Broome County
Quantum Analysis opens Fayetteville Mall for consumer taste survey
Syracuse based Quantum Analysis Research Centers debuts in Fayetteville Mall with door to door and mall based interviews to gauge consumer likes such as chocolate over vanilla and MASH over other TV shows. Kathie Baier says the firm will test markets locally then nationally, using focus rooms and a one way mirror for observation.
MENTIONED IN THIS ARTICLE
Quantum Analysis Research Centers
Fayetteville Mall
Baier
Buffalo
Syracuse
Quantum Research
Quantum Analysis
Iterview Mall
Burt Reynolds
Ronald Reagan
Quantum
East Coast
Also Mentioned on This Page
Mgic Investment
Baldwin United
Treasury
Area Citizens’ Coalition
Tom Schwender
State Banking Department
Key Bank
Bankers Trust
Banking Department
Key Banks Inc
Vincent Tese
Madison County
Oneida
Oswego
Cortland
Cayuga
Livingston
Dale Easler
Kathie Baier
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