Loans rescue hedge fund amid global market turmoil
Regulators brokered a bailout to avert a fire sale that could deepen the U.S. economy’s risk as banks hesitate to extend loans. Greenspan testified as the Dow plummeted nearly 6 percent and a Fed survey showed credit standards tightening for large and medium firms while small borrowers saw little change. Canada cut rates and IMF chief Camdessus urged Europe to action.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Alan Greenspan
Fed
Bert Ely
Alexandria
Greenspan
United States
Japan
Germa
Europe
Germany
Bank of Japan
Wall Street
Merger of Banc One and First Chicago Completes
The Banc One and First Chicago NBC merger creates Bank One Corp, the nation’s fifth largest bank with 240 billion in assets. Headquarters move from Columbus to Chicago ends a 180 year Columbus base, while core operations stay in Columbus. Bank One promises business as usual for customers during the integration, with leadership to shift to John McCoy as president and CEO and Verne Istock as Bank One chairman.
MENTIONED IN THIS ARTICLE
Chicago
Midwest
First Chicago
NBC Corp
Banc One
Bank
One Corp
Tom Kelly
Kelly
Bank One
Columbus
First National Bank of Chicago
First Chicago Nbc
NBC
John McCoy
Verne Istock
Airport cab fare controversy prompts rider complaint
Former North Ridgeville councilman Russ Friedrich found airport cab charges steep after a Cleveland Hopkins flight. ACE Cab supervisor Devang Bavishi says dead head miles outside Lorain County raise fares, a practice he calls standard but unfair to county residents. City officials acknowledge no set out of county rate laws and weigh possible fairer solutions. Friedrich disputed the driver did not pre-negotiate and a $12 voucher was charged back to him.
MENTIONED IN THIS ARTICLE
North Ridgeville
Russ Friedrich
Lorain County
ACE
Friedrich
Fire Circle
Cleveland Hopkins International
Cuyahoga County
Devang Bavishi
ACE Cab
Cleveland
Bavishi
Robert J. Schneider
Deanna L. Hill
Schneider
Medina County
Local Firms File Incorporation Articles in Area
Secretary of State Robert Taft reports Ohio filings Aug 17 through Sept 4 for Avon Lake North Coast Collections Inc. 850 shares. Little Baker & Go. Inc. Incorpora tor Rhonda Baker. A-Spire Inc. 500 shares. O'Keefe Casting Company 850 shares. Local incorporators and agents listed with addresses in North Ridgeville Oberlin Vermilion Avon Lake Lorain.
MENTIONED IN THIS ARTICLE
North Ridgeville
21St Century Consuling Inc
Roger Tikin
Raymond Grabow
Gayle Ferrara
Frank Scali
Pleasant St
Oberlin
Fireland Management Company Inc
Thomas Caruthers
Deborah Caruthers
Kenneth Ramsey
W. College St
Fox Competitive Inc
Katharne Abba
E. Lorain St
K 3 Enterprises Inc
Ken Kirby
Judy Kirby
Guilford Road
Vermilion
Columbus
Robert Taft
Avon Lake North Coast Collections Inc
Kenneth Frankel
Morse Road
Avon Lake
Little Baker & Go. Inc
Rhonda Baker
Ray Ave
A-Spire Inc
Robert Crumiling
Cheyenne Falls Drive
Lorain O'Keefe Casting Company
Irene O'Keefe
E. 28Th St
Lorain
Dow collapses again as markets fear recession risks
The Dow Jones slid 210.09 points to 7632.53 amid fears the U.S. economy could face a recession in 1999. Nasdaq fell 4.8 percent while Treasuries rose as investors fled stocks, with analysts citing the Fed’s rate cut and global crisis worries as the backdrop.
MENTIONED IN THIS ARTICLE
Wall Street
Fed
U.S
Asia
Russia
Latin America
New York
European
Tokyo
Treasury
Jerry H. Dombcik
McDonald & Co
Cleveland
Cisco Systems
Dell Computer
Microsoft
Also Mentioned on This Page
France
Britain
Canada
Italy
International Monetary Fund
World Bank
Robert Rubin
IMF
Michel Camdessus
Camdessus
Tim Majeske
Rouge Steel
Dearborn
Mich
Brazil
First
and Finance One
China
The
Securities and Exchange Commission
Sharon Jefferson
Chronicle-Telegram
Dow
Federal Reserve Board
Alfred Marshall
Bond
Interstate/ Johnson Lane
Charlotte
N.C
Federal Reserve Bank of New York
Treasury Securities
Michael Clark
CS First Boston
Wall
Nipwspa
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