AT&T to cut 40,000 jobs in major corporate overhaul
AT&T unveils a sweeping plan cutting about 40,000 jobs as it splits into three firms amid deregulation. Workers in Chicago react with shock and concern while Wall Street cheers, sending the stock up and signaling a tougher year ahead for the telecom giant.
MENTIONED IN THIS ARTICLE
Chicago
At&t
Wall Street
Midwest
America
Tlinois
U.S
Robert E. Allen
Connie Luecke
Duff & Phelps
Congress
Treasury Auctions Show Mixed Short Term Rates
The Treasury sold 14.1 billion in three month bills at 3.04 percent, and 14.0 billion in six month bills at 5.03 percent. Three month bills cite 5.19 percent yield with a 9872.60 price for a 10000 bill. six month at 3.25 percent with 8744.30 price. The Fed reported one year bill yield dropping to 1 percent from 2.30 percent.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
The
Federal Reserve
LeBow Icahn push to split RJR Nabisco spurs proxy fight
New York AP LeBow formally seeks shareholder support to force an immediate breakup of RJR Nabisco Holdings Corp as Carl Icahn allies with him. RJR calls the bid a ploy to gain control and extract a large profit at shareholders' expense.
MENTIONED IN THIS ARTICLE
New York
Bennett LeBow
RJR
Nabisco Holdings Corp
Food and Tobacco Company
LeBow
Carl Icahn
Manufacturing slows in December amid overall economic weakness
New York AP reports manufacturing activity slowed for the fifth straight month in December. The National Association of Purchasing Management index edged up to 47.5 from 46.0 in November, with new orders down and inventories rising at some industrial firms.
MENTIONED IN THIS ARTICLE
New York
National Association of Purchasing Management
Budget impasse trims airline taxes saving fliers
Airlines pass 10 percent savings to passengers as three taxes expired December 31. United and Southwest may alter fares by market, while American and Delta refund pre-year purchases. IRS guidance for refunds cited. refunds vary by airline and cash flow. Total revenue from taxes was about 15 million dollars daily.
MENTIONED IN THIS ARTICLE
Washington
Congress
Clinton
American Airlines
Delta
Usair
Continental
Southwest Airlines
United Airlines
United
Southwest
Internal Revenue Service
American
The
Air Transport Association
IRS
Association
Wilson Fadley
Ginger Hardage
Bill Horn
Edmond
Okla
Senate Finance
House
Ways and Means
Judge dismisses Nasdaq brokers suit in best execution ruling
A New Jersey federal judge dismissed a class action by investors against Merrill Lynch PaineWebber and Dean Witter Reynolds over alleged failure to obtain best execution for Nasdaq trades. The judge found the SEC had not defined best execution and noted proposed Nasdaq rule changes could address the issue.
MENTIONED IN THIS ARTICLE
Los Angeles
New Jersey
Wall Street
Los Angeles Times
Merrill Lynch & Co. Inc
PaineWebber Group Inc
Dean Witter Reynolds
U.S
Dickinson R. Debevoise
Federal Securities and Exchange Commission
SEC
Also Mentioned on This Page
At&t Corp
Tokyo
Mitsukoshi
Sao Ps
Sayer
Ate
UrPac
Poet
Soto
de Sox
Esa
Eatty Quotation
Hanson Iss
Pete Say Co
Invacare
Acme Deve
Lear
Barco
Amercan Greetings
Lesco Inc. Cadar Far
Mec-Am. Inc
Certenora Noxdison
Chrysler
Sawnas
CoBancora Inc
Hic Edison
Columbia Gas
P.N.C
CPE
Inter. Inc
Parker Hannifin Eaton Com
Royal Appliance
Emerson
Shemwin Willams Englehard
Smuckers
SJMA
FirstMerit
Sunrse
Ford
Texas Utlites
General Motors
USK
Geedach
Woodworth
F.W
York International
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