Word: bonding
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...Sand declared Yonkers in contempt of court for refusing to obey his order to help private developers build 800 units of moderate-income housing. The judge began levying fines that doubled daily against the city and would leave it bankrupt later this month. Yonkers promptly lost its already poor bond rating, rendering it unable to borrow. Fines of $500 a day were imposed on the recalcitrant councilmen...
...enormous strength at home. It offers a full roster of investment services, including underwriting, money management and research. Nomura handles nearly 17% of all stock trades in Japan; its nearest rival, Daiwa Securities, has a 12% share of the market. Nomura claims an equally commanding slice of the bond market, 19%, vs. 12% for Daiwa. Nomura and Daiwa, along with Nikko Securities and Yamaichi Securities, are known in Japan as the Big Four. Says a Nomura director, with a mix of arrogance and pride: "It's not really the Big Four. It's Nomura and the Little Three...
This year the firm introduced a contemporary equivalent: a computerized home investment service. Nomura customers who connect their home computer to their telephone can press a few keys and bring to the screen the latest listings of stock and bond prices and other information. With a few more taps, customers can signal their investment choices...
General Motors' popular Chevrolet Beretta sports coupe is as hot as a pistol. In fact, it even has the same name as a pistol. GM denies any connection to the famed brand of Italian guns favored by both the fictitious James Bond and the very real U.S. Army. But last week Italy's Fabbrica d'Armi P. Beretta of Brescia fired off a $250 million suit against GM in Manhattan, charging that the automaker was guilty of trademark infraction and unfair competition...
Judge Brinkema was unconvinced. If Hudson did not have enough evidence to charge Hawamda with plotting murder, she ruled, Hawamda could not be denied bail on that charge. He was ordered released on $250,000 bond, but remained in custody pending an appeal by Hudson early this week...