Indicted Cleveland Firm in Ohio Securities Case
A Cuyahoga County grand jury charged Shearson Lehman Brothers Inc and two former Cleveland staffers, Sheldon Strauss and Stephen Weinberg, with defrauding investors through unauthorized trades. Strauss allegedly placed clients in highly speculative margined stocks, prompting 42 counts amid a broader probe of about 150 complaints.
MENTIONED IN THIS ARTICLE
Cleveland
Cuyahoga County
Weinberg
Corporation
Shearson Lehman
Strauss
Holderman
Oil futures rise on Friday as Middle East stalemate drags on
Wholesale gasoline and crude oil prices gained in trading as buyers returned despite the ongoing Middle East stalemate. Light sweet crude rose 55 cents on the New York Mercantile Exchange to close the week at 27.32 dollars per barrel for October delivery.
MENTIONED IN THIS ARTICLE
New York
Middle East
New York Mercantile Exchange
Oil shortage avert plan by IEA amid Gulf crisis
Paris AP reports members of the International Energy Agency agreed to work together to avert oil shortages from the Persian Gulf crisis. IEA senior officials said the threat to supplies had eased as OPEC production hikes expected to counteract the U N boycott of Iraq and Kuwait.
MENTIONED IN THIS ARTICLE
Paris
International Energy Agency
IEA
OPEC
U.N
Iraq
Kuwait
Gas Prices Rise but Fuel Demand Holds Steady
Drivers head to family barbecues this Labor Day weekend despite higher pump prices. Bud Case paid 26.13 to fill a camper in Charleston West Virginia as AAA cites self serve regular at 1.307 per gallon. The group notes a 2 percent drop in travel but blames no single fuel cost.
MENTIONED IN THIS ARTICLE
Bud Case
Charleston
W.va
American Automobile Association
AAA
Union can collect fair share dues at University of Cincinnati
A federal judge allows the University of Cincinnati union to keep full dues from six non union secretaries and clerks while arbitration is sought. The six allege payroll deductions fund lobbying. about 1,280 workers are covered with 850 members and 115 non members qualify for a 10 percent reduction.
MENTIONED IN THIS ARTICLE
Cincinnati
University of Cincinnati
Rubin
Service Employees International Union
Don Mooney
Mooney
Former P G top executive to lecture at Miami University
Retired Procter & Gamble chairman John Smale will co teach marketing strategy and administrative policy at Miami University in Oxford Ohio He will present six lectures to two classes this semester Smale earned a Miami degree in 1949 and will not be paid for teaching He remains P G s executive committee chair and faced a P G Folgers coffee boycott issue in class
MENTIONED IN THIS ARTICLE
Oxford, Ohio
Procter & Gamble Co
John Smale
Miami
Smale
Fortune 500
P&g
John Walton
Walton
Folgers
Ex-Lobbyist wins suit against cable TV operator
A Cuyahoga County jury awarded Greg Groves 5.4 million in damages from North Coast Cable of Cleveland. Groves charged CEO Lee C. Howley Jr. reneged on a 5 percent stake for securing Cleveland's cable franchise. The verdict was described as a vote for truth and minority investors. North Coast vowed to appeal.
MENTIONED IN THIS ARTICLE
Cleveland
Cuyahoga County
Lee C. Howley Jr
North Coast
Groves
Richard Markus
RTC to hire contractor cops to watch S and L sales
The Resolution Trust Corp plans a special 20 member contractor police team this fall to oversee hundreds of failed thrift sales. Spokeswoman Kate Spears said the group will watch for possible corruption as RTC sells billions in S and L assets.
MENTIONED IN THIS ARTICLE
Washington
Resolution Trust Corp
RTC
S&l
Kate Spears
Chrysler workers accept buyouts in mass exit
Hundreds of Chrysler Corp. union workers took buyouts aimed at cutting costs and avoiding layoffs. The Friday reduction, likely around 600 employees, occurs during negotiations for a new national labor contract with the United Auto Workers as Chrysler battles financial difficulties.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
Chrysler
United Auto Workers Union
Gulf crisis hits shipping industry stocks worldwide
The Persian Gulf crisis has battered shipping stocks as insurers raise war zone premiums and crews seek hazardous duty pay. Analysts report a confused market with some indexes down about 25 percent since Iraq invaded Kuwait on August 2.
MENTIONED IN THIS ARTICLE
Oslo
Norway
Iraq
Kuwait
Lloyd’s List International
London
Travel rush strains airline reservation systems
Travel agents nationwide faced unprecedented grid lock as a autumn fare deadline and higher jet fuel charges slowed or crashed reservation computers. Tens of thousands of callers jammed lines while some systems jammed or refused service and wait times exceeded 30 minutes to access booking information.
MENTIONED IN THIS ARTICLE
New York
Penney under fire over anti-hunting kids clothing
Michigan's largest conservation group attacks J C Penney for marketing boys' apparel with an anti-hunting message. Executive director Thomas Washington calls the ad outrageous while Penney says a decision on the merchandise will be made next week.
MENTIONED IN THIS ARTICLE
Lansing, Mich
Michigan
J.C. Penney Co. Inc
Thomas Washington
Michigan United Conservation Clubs
Penney
Duncan Muir
AT&T workers in Kuwait amid Iraq invasion crisis
AT&T workers in Kuwait were targeted by security measures as the U S and White House scrambled for information during Iraqs invasion. AT T crisis center prepared an escape plan for dozens of employees amid the sudden crisis.
MENTIONED IN THIS ARTICLE
Newark
White House
Iraq
Kuwait
At&t
American Telephone & Telegraph Coemployees
U.S
Kuwait City
Herb Linnen
Markets Slip Slow Amid Labor Day Weekend Trading
The Dow Jones Industrial Average rose 21.04 to 2,614.36 as markets slowed for the Labor Day weekend. Bond prices were mixed in a quiet session, currencies mostly firmer, gold down, and various futures across commodities showing mixed movements.
Also Mentioned on This Page
Steve Fagan
Carl B. Rubin
W. James Young
National Right To Work Legal Defense Foundation
Brenda Mossberger
General Foods
Evansville
Indiana
Tang
Miami U
William Blomquist
Egy
School of Business Administration
Moss
Lee Iacocca
Joe Seibert
Hi Salvador
el Salvador
Ley
Council
Markus
Thrifts
J.C. Penney
Hunters
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