Banks Cut Prime Rate to 15 Percent After Fed Cut
Citi bank Chase Manhattan Chemi cal Bank and Morgan Guaranty Trust lowered their prime lending rate a half point to 15 percent in response to a Federal Reserve discount rate cut. Stocks opened higher on the New York Stock Exchange as the Dow added 0.96 point to 809.55 after Friday’s decline of 3.61 points.
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New York
UPI
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Managers Seminar on Effective Listening at Lorain County College
A seminar for managers on effective listening will be held at Lorain County Community College on August 19 from 9 a.m. to 4 p.m. The session costs $40 and covers listening habits techniques that improve listening effectiveness and skills to resolve conflicts.
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Lorain County Community College
Record set for repairs
Americans spent a record 46.4 billion dollars last year on home improvements says Reader's Digest August issue. For future buyers, best bets include updating kitchen bathroom modernization insulation aluminum siding and adding a family room if no garage is traded.
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Reader’s Digest
Reader's Digest
SBA to Help Exporters Expand Foreign Sales
The SBA created a revolving line of credit loan guarantee for exporters. Eligible borrowers include manufacturers wholesalers and export management companies at least one year old seeking bank loans. Funds may finance preexport purchases working capital and market development abroad. Administrator James C Sanders says the aim is to boost small business exports.
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U.S. Small Business Administration
SBA
James C. Sanders
S&Ls See Two Bright Spots in Crumbling Industry
Washington input notes two potential lifelines for the crisis battered thrift sector. Declining interest rates offer relief, while a Senate Banking Committee draft bill aims to restructure regulation and broaden income sources beyond mortgage lending. The industry faces record losses and rising mergers as it awaits relief.
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UPI
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Roy Green
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S&ls
Jake Garn
Utah
Mobil Tests Cash Discount Across Five Midwest Cities
Mobil Oil Co starts a four cent cash discount for gas in Chicago Detroit Milwaukee Minneapolis St Paul and St Louis to attract dealers to participate. The move lowers wholesale prices and adds a 3 percent service fee for handling credit card purchases to stations. If successful the program may roll out nationwide beyond the current markets served by Mobil outside the Rocky Mountain region.
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Standard of Indiana
Amoco
Standard
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Grain price report from Ohio elevators shows mixed soybeans dip
The Columbus grain report lists Ohio elevator prices after Friday close with Northeast values for wheat and corn at 2.308 and 2.29, central figures for shelled corn at 2.37 and soybeans at 5.91, and trend notes with No 2 wheat and shelled corn unchanged while soybeans fall.
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UPI
Ohio
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