Wall Street discounting sparks brokerage upheaval after rate end
As the SEC ended fixed stock commissions effective May 1, Wall Street sees strong institutional discounts up to 50 percent amid brokers' reluctance to discuss. Traders report a broad scramble as institutions seek best execution while individual charges largely hold. Banks and trusts turn to small firms for cheap order execution, paying as little as 15 cents a share versus 80 cents pre May 1.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Securities and Exchange Commission
SEC
Joe DiMartino
Dreyfus Corp
At&t
Ernst & Co
Cattle-raising judge to rule on meat grades
Omaha federal judge Robert V. Denney weighs the USDA beef grading revisions on marbling thresholds for choice and prime. Opponents fear higher prices for lower quality meat, while supporters cite potential lower costs and faster grading. Hearings spanned 10 days with extensive testimony and exhibits. a ruling is due late next week with an appeal planned to the 8th Circuit.
MENTIONED IN THIS ARTICLE
Omaha, Neb
America
U.S. Department of Agriculture
USDA
Robert V. Denney
Omaha
U.S. 8Th Circuit Court of Appeals
Independent Meat Packers Association of Omaha
American National Cattlemen’s Association
Denney
8Th Circuit
GM to Introduce New Small Car To Challenge Imports
GM announced plans for a 1976 model year small car, aimed at outperforming imports in fuel efficiency and modern design. The car, likely the American version of the Chevette Kadett Gemini, would be assembled after Wilmington plant conversion and target a late September debut, with production capacity boosted to over 2.5 million units for compact and smaller cars.
MENTIONED IN THIS ARTICLE
General Motors
Brazil
Great Britain
Detroit
General Motors Corp
Thomas A. Murphy
America
West Germany
Japan
Argentina
Australia
England
Murphy
Indi
Cate
Wilmington
Del
Ing
Grand jury ends state payroll padding probe
The Franklin County Grand Jury wrapped up a three month inquiry into payroll irregularities tied to the Rhodes era after the November election. County Prosecutor George C. Smith said the results would be public Tuesday and noted indictments were a possibility while confirming discussions with as many as ten former state employees to plead guilty to misdemeanor charges and make restitution.
MENTIONED IN THIS ARTICLE
Grand Jury
Ohio Highway Patrol
Rhodes Administration
Joseph J. Sommer
John J. Gilligan
Sommer
First French Coal Mine in North America on Cape Breton
National Geographic notes the first commercial coal mine in North America was operated by the French in 1720 on Cape Breton Island, Nova Scotia.
MENTIONED IN THIS ARTICLE
North America
Cape Breton Island
Nova Scotia
National Geographic Says
Ford to operate all U.S. plants next week amid recalls
Ford Motor Co announced it will run all 83 U.S. plants next week, lifting most layoff totals to 19,750 the lowest in over six months. The move ends temporary shuts and recalls 14,900 workers, restoring production across major plants for the first time in about six months. Indefinite layoffs drop, while May output remains forecast below last year’s.
MENTIONED IN THIS ARTICLE
Detroit
Ford‘Motor Co
U.S
Ford
Also Mentioned on This Page
Center For the Sightless, Inc
Oberlin Road
Elyria
Ohio
Myris Seba
Leet
James
Tracey
Jack Lesnick
Whitman Blvd
Democrat
James P. Henderson
ST. Mary’s Grade School
Elyria High School
OSU
Richard E. Coughlin
Hartford Eee
Re Ossen Ee
Convenient Food Mart
Lorain County
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