BankAmerica sues for merger with First Interstate offer
BankAmerica weighing a 2.7 billion merger proposal from First Interstate Bancorp. The offer values BankAmerica at about 18 a share and would create a larger western banking group with assets around 168 billion if approved. BankAmerica has faced heavy loan losses and asset sales while considering the friendly buyout.
MENTIONED IN THIS ARTICLE
San Francisco
BankAmerica Corp
First Interstate Bancorp
BankAmerica
First Interstate
Wells Fargo & Co
Samuel Armacost
Bank- America
Goldman Sachs & Co
New York Stock Exchange
John Keane
J.J. Pinola
Armacost
FinanceAmerica
Chrysler
Arco Plaza
Los Angeles
Western
Steel output falls 1.6 percent in week
Steel production for the week ended Oct. 4 dropped to 1.283 million tons, down 1.6 percent from 1.304 million the prior week, the American Iron and Steel Institute reported. Capacity use was 53.1 percent, with year to date output at 63.229 million net tons, down 5.2 percent from last year. Regional tonnage included Northeast Coast 130000, Pittsburgh 136000, Youngstown 100000, Lake Erie 103000, Detroit 142000, Chicago 329000, Midwest 150000, Southern 133000, and Western 40000.
MENTIONED IN THIS ARTICLE
New York
American Iron and Steel Institute
Northeast Coast
Pittsburgh
Youngstown
Lake Erie
Detroit
Chicago
Midwest
Southern
Western
Creston Auction Handles 311 Consignors in One Monday Sale
Creston livestock sale sees 311 consignors offer 873 head including 10 goats and three horses and ponies. Calves fetch 45 to 67.50 dollars with crossbreds to 75, sheep lambs 51 to 56, hogs and pigs around 43 to 50. Feeder cattle and steers run 39 to 62.75 with Holstein and beef varieties. overall totals include goods and mediums in the 28 to 58 dollar ranges.
MENTIONED IN THIS ARTICLE
New York
Sat AmCan
Astrias
At&t
Andrkn
Anheus
Zbha
BellSou
Boeing
Bristo
Mascos
MerLyn
Materia Alans
Norsk N
Texaco
Tyco
Ucard
Unocal
Viaem S
Pierre R. Smith & Co
Acme Cleve
Allied Corporation Alltel
American Standard
CPC Inter
Creston
Northeast Ohio business chiefs predict recession within two years
More than half of 630 northeast Ohio executives anticipate a regional recession within two years. Respondents expect small near term downturns, with 4.4 percent predicting within six months, and 15.7 percent within a year. Most say they will cut employment this quarter.
MENTIONED IN THIS ARTICLE
Akron
Northeast Ohio
Canton
Cleveland
Akron Beacon Journal
University of Akron
Christopher Odzinski
Society National Bank
Ohio
Odzinski
Jesse Marquette
Robert DeHoff
DeHoff Realty and
Chatham Development of
First VW Jetta rolls off U.S. assembly line
The East Huntingdon Township plant near Pittsburgh began Jetta production with plans to reach about 400 daily by next year and 125,000 annually. The line runs alongside Golfs on a single shift, with 2,500 workers employed and 1,850 laid off since February 1983.
MENTIONED IN THIS ARTICLE
U.S
New Stanton
United States
Donn J. Viola
Volkswagen
Pennsylvania
East Huntingdon Township
Volkswagen of America Inc
Chet Bahn
Pittsburgh
Carl H. Hahn
T-bill Rates Hit Nine-Year Low In Week Of Declines
Washington AP reports short term Treasury rates fell for the second straight week reaching their lowest levels in more than nine years. Three month bills sold at 5.08 percent and six month bills at 5.13 percent, with actual investor yields higher. The Fed noted the one year bill yield edged down to 5.79 percent from 5.80.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Federal Reserve
Also Mentioned on This Page
Frank N. Newman
John Poelker
Newman
Creston Livestock
Ohio Business Chiefs
DeHoff
Volkwagen AG
Wolfsburg
West Germany
Hearing Aid Services Inc
John B. Simpson
Thurs
Lorain
Oberlin Ave
U.A.W
Computer System Business Week
Maserati of Fame
eMotheate
OP Werner Hoc
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