Word: banker
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...said they had property values and tax increases on the mind. Though the average value of a house in Weston is currently $228,000, home owners could pay an additional $546 in property taxes under the recently-passed tax increase, said William T. Sandalls Jr., a 41-year-old banker on Weston's finance committee...
...average new mortgage rate has dropped from 17.7% to 11.6% during that time, credit-card interest in most areas has remained at a sky-high level of more than 18% annually. That is a rate once associated with local loan sharks rather than with your friendly neighborhood banker...
Nonetheless, U.S. bankers are now considering whether to reduce their card rates in response to Manufacturers Hanover's move. Said Leo Mullin, executive vice president of First National Bank of Chicago, which charges 19.8%: "We are always looking at the variable features of the card business." In California, Bank of America, which also charges 19.8%, said its rates were under review. But one Midwestern banker privately doubted that many institutions would reduce their charges soon. "Why should they?" he observed. "They're growing fat on interest income, and until competitive pressures force a cut, they're not going to give...
...Federal Reserve increasingly challenged. Last week the Reagan Administration announced the nomination to the Fed board of two conservatives who might diminish his policy clout. As expected, the President chose Manuel Johnson, 36, an Assistant Treasury Secretary and supply-side advocate, and Wayne Angell, 55, a Kansas banker, economist and farmer, to fill vacancies on the seven-member board. Their selection, coupled with two earlier Reagan appointments, will produce a majority of the board less likely to toe the Volcker line on monetary policy...
Fortunately, "the people from Saks were really sympathetic and cute," Banker said, noting that she made a few new friends in the boisterous atmosphere backstage...