Mortgage Savings Rates Rise Amid Treasury Moves
Savings institutions may pay up to 9.0 percent on six month certificates and banks up to 8.785 percent. Three month certificates offer as much as 8.434 percent. Government six month bills averaged 8.535 percent. Minimum deposits for short terms set at 2,500 dollars, 24 year certificates without government minimum. Corporate profits in 1982 fell over 20 percent, with pre tax profits at 175.6 billion and after tax at 117.5 billion. Fourth quarter profits showed slight declines but hints of recovery. General Mills and Levi Strauss reported quarterly earnings changes with peso-related losses and gains from new strategies and higher sales.
MENTIONED IN THIS ARTICLE
Treasury
Commerce Department
Department
Treasuries
General Mills
H.B. Atwater Jr
Mexico
Levi Strauss & Co
Kerin
Bank Customer Rates Vary by Institution
The rates to customers may vary from bank to bank. Customer rates listed here are approximate.
Bonds ease crunch in municipal budgets
Local governments face budgeting strain yet access capital markets through tax exempt bonds. Demand from individual investors keeps bond sales high with 1982 activity 62 percent above 1981 and early 1983 totals near 9.2 billion dollars. Yields remain attractive at 9 to 10 percent though down from 12 to 14 percent earlier. insurers MBIA and AMBAC back bond safety, while banks provide loan backing. Analysts warn recovery may not fully ease long term pressures from low tax bases and growing service demands.
MENTIONED IN THIS ARTICLE
Moody's Investors Service
Peter J.d.gordon
T. Rowe
Price Associates
New York State
Municipal Bond Insurance Association
New York
Washington
MBIA
American Municipal Bond Assurance Corp
Merrill Ring
Bank of America
United States Treasury
Treasury
New York City
Democrats push for more Fed control in 1984 budget
Congressional Democrats seek nonbinding instructions to the Federal Reserve in the 1984 budget to report on Fed objectives for growth inflation and unemployment and to explain differences with budget assumptions. Fed Chair Volcker objects to reporting on objectives, not assumptions, as Republicans falter in amending the measure.
MENTIONED IN THIS ARTICLE
Federal Reserve
Congress
House
Fed
Paul A. Volcker
House Budget Committee
Presi
Dent
Congressional Budget Office
Volcker
Washington
Delbert Latta
Ohio
Jack F. Kemp
Upstate
New York
Central Bank
Kemp
Robert Johnson receives fourth annual Construction Industry Citizen award
Robert B. Johnson, president of B. R. Johnson Inc, was honored by the Syracuse Builders Exchange with the C. J. Pollatsek Construction Industry Citizen of the Year Award at the group's annual dinner. He led the SBE as president in 1971 72 and now serves as National President of the ASA American Subcontractors Association, shaping chapters in Central New York and New York State and representing the SBE on the Building Industry Employers of New York board.
MENTIONED IN THIS ARTICLE
Robert B. Johnson
B. R. Johnson Inc
C. J. Pollatsek Contraction Industry
Syracuse Builders Exchange
Hotel
Syracuse
Johnson
ASA — American Subcontractors Association
ASA
Trav
United States
Central New York
New York State
SBE
Albany
Building Industry Employers of
New York
Tax refunds lag 1982 levels amid IRS mystery
Analysts note refunds this year may fall short of the 1982 peak as Treasury plans to scale funding, while withholding changes and IRA expansions loom. The pace of filings holds near 1982, average refunds shrink, and the Farm 1040 E-2 form gains traction with ten million users of the 44.28 million filers.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
Wall Street
Treasury
Braniff to sell 20 Boeing 727-200s to People Express
Braniff Airlines plans to sell 20 Boeing 727-200s to People Express Airlines for 80 million dollars and lease a 747-200. The move, pending bankruptcy court approval, aims to raise funds for creditors while Braniff tools toward a smaller ground services operation. People Express will use the 727s to expand to Florida and the Northeast, with the leased 747to Newark to London service proposal awaiting CAB ruling.
MENTIONED IN THIS ARTICLE
People Express
Braniff Airways
People Express Airlines
Braniff
Dallas
Howard D. Putnam
PSA Inc
Putnam
Robert McAdoo
Florida
Newark- London
People
Civil Aeronautics Board
Morten
Beyer
Avmark Inc
Mortgage lending upswing continues in February
The Savings Association League reports six months of rising mortgage lending, nearly doubling to 1.36 billion from 701 million. Rates averaged 12.5 percent for adjustable mortgages and 13.5 percent for fixed. The rebound spurs first time buyers amid a wider housing market recovery and rising resale costs.
MENTIONED IN THIS ARTICLE
State Savings Association League
League
William Foley
Foley
Paul Schosberg
U.S. Commerce Department
Northeast
Godfather's Pizza to acquire Pizza Ventures in stock swap
Godfather's Pizza Inc. tentatively agrees to acquire Pizza Ventures Inc. of Wayzata Minnesota owner of 117 Godfather's restaurants in a stock swap valued at about 107 million dollars. Pizza Ventures shareholders will receive 1.5 Godfather's shares for each 3.7 million common shares. It will be a tax free transaction.
MENTIONED IN THIS ARTICLE
Godfather’s Pizza Inc
Pizza Ventures Inc
Wayzata, Minn
Godfather's
Pizza Ventures
Godfather’s
Also Mentioned on This Page
Onit
Cage
Ap Chan
Sourte
California
Morgan Guaranty Trust Co
Robert Johnson
Oas
Chicago Tribune Graphic
Source Commerce
Claanng House
Godfather’s Pizza
The
Associated Press
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