Regulators Seek New Treasury Auction System
Experts from Wall Street and academia gather in Washington to design a reform of Treasury auctions that finance the national debt. Treasury Secretary Brady is due to speak at a conference sponsored by the Treasury and Federal Reserve Board on moving auctions to the computer age while avoiding higher borrowing costs.
MENTIONED IN THIS ARTICLE
Wall Street
Treasury
Nicholas Brady
Federal Reserve Board
Salomon Brothers Inc
Salomon
Congress
Delta raises discount fares amid Northwest and AA price war
Delta Air Lines boosts discount ticket prices by 10 to 20 dollars per round trip after a fare war with Northwest Airlines and American Airlines. Prices apply to trips under 750 miles or over 750 miles and take effect at midnight, with the sale running through Friday.
MENTIONED IN THIS ARTICLE
Delta Air Lines
Northwest Airlines
American Airlines
Delta
Glens Falls firm to repay SEC over misused investor funds
Silver Bow Resources and Chemical Corporation agreed to repay 485000 dollars plus 171000 in interest to investors after SEC claims the Glens Falls company diverted funds for owner use. The deal, reached with the SEC, requires court approval in Syracuse and involves 94 investors in Texas and Illinois oil and gas partnerships from 1983 to 1989.
MENTIONED IN THIS ARTICLE
Securities and Exchange Commission
Silver Bow Resources and Chemical Corporation
SEC
U.S. District Court
Syracuse
Amy C. Reich
Silver Bow
Raymond J. Whalen
Warrensburg
Texas
Illinois
Dow slides as health stocks drag market
Tuesday stock prices fell with health care shares hurting the market while the Dow Jones declined 17.11 points to 3396.10 after Monday’s record close. Bristol-Myers Squibb led the list of most active NYSE issues with heavy trading amid weak sales growth.
MENTIONED IN THIS ARTICLE
Dow Jones
Dow
NYSE
Bristol-Myers Squibb
Automakers push production as economy improves
U S automakers plan to build 18.3 percent more cars and trucks in the third quarter as inventories tighten and demand returns. Analysts forecast continued gains through year end, with January-September output near 76 million units, up 15.7 percent from the prior nine months.
MENTIONED IN THIS ARTICLE
U.S
Bristol-Myers Squibb stock slides after weak forecast
Bristol-Myers Squibb shares fell as much as 7.75 to close at 66.875 amid a disappointing forecast. The company projected second quarter sales under 5 percent growth and mid single digit earnings per share for the quarter and year, surprising analysts. The move shook drug stocks across the market and reflected broader concerns about revenue momentum. The company staffs about 2,200 workers across DeWitt and related divisions.
MENTIONED IN THIS ARTICLE
Bristol-Myers Squibb
Bristol-Myers Squibb Co
New York Stock Exchange
Michael E. Autera
Bristol
DeWitt
Bio/Chem
Pharmaceutical Research Institute
Banker admits he funneled money to Iraq
Former Atlanta bank manager Christopher Drogoul pleaded guilty to 60 counts of a 347 count indictment for secretly loaning 5.5 billion dollars to Iraq between 1985 and 1991. Judge Shoob warned of possible life imprisonment and set sentencing for August 13 amid questions over profits from the scheme.
MENTIONED IN THIS ARTICLE
Plpa Hiad
Iraq
Christopher Dragoul
Atlanta
Italy
Banca Nazionale del Lavoro
Dragon
Marvin H. Shoob
Dragoul
Shoab
Drogoul
Shoob
U.S
Cuba
Ministry of Industry
Hydra Co withdraws Connecticut plant project after delay
Hydra Co Enterprises of Syracuse ends plans for a wood burning plant in Killingly Connecticut after five years and millions. It will receive 310 million to 13 million from Connecticut Light and Power for not building. Hydra Co to pay Killingly about 750000 for opposition costs. Governor signature pending.
MENTIONED IN THIS ARTICLE
Hydra-Co Enterprises Inc
Syracuse
Killingly
Conn
Hydra-Co
Connecticut Light and Power
Connecticut General Assembly
Lowell Weicker
Connecticut
Department of Public Utility Control
Ron Hosie
Hydro-Co
CPUC
Hosie
Connecticut Light & Power
Southland stock speculation and debt turnaround
Southland Corp. once highflying with 7 11 stores collapsed in 1987 88 after a costly bid to privatize. It filed for bankruptcy in 1999 and restructured by 1991 receiving funds from Yokoda and 7 11 Japan. By 1992 revenues were fading but 1993 looked brighter as debt fell and core changes began. The piece weighs a 10 000 share bet against bonds yielding strong returns. Malcolm Berko advises diversification into 4.5 percent debentures and notes potential 15.4 percent yield to maturity over 12 years while cautioning readers to research investments.
MENTIONED IN THIS ARTICLE
Southland Corp
7-11
Iself
Southland
SLCMC
SLOMC
o-Yokoda
Japan
SEJ
S&p
Also Mentioned on This Page
The
Associated Press
Fed
Glens Falls Company
Prime Tate Federal
Murcia
Jay Leopold
Legg Mason Wood Walker Inc
Baltimore
Leopold
General Motors Corp
Charmiies Technologies
Lincolnshire
David Lassman
Stall Photograp
New York State Fairgrounds
Earnings News
New York Times News Service
Niagara Mohawk Power Corp
TV and Sev
United States
Canada
Malcolm Berko
Creators Syndicate Inc
Herald-Journal
Berko
Syracuse Herald-Journal
P.O. Box
Lauderhill
Fla
Malcolm Berkg
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