Word: deposit
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...placed in New York City newspapers by Citibank last week, is among a growing number of signs that the battle for consumers' savings is heating up again. Starting in October, federal regulators will let U.S. banks and savings and loans pay whatever interest they want on certificates of deposit. The yield on most CDs is now tied to U.S. Treasury bill rates; a six-month certificate, for example, currently pays about...
...from the First National Bank of Midland (assets: $1.5 billion), whose loans to oil and gas producers turned sour. Earlier this month, the bank reported a second-quarter loss of $109.3 million. Many banks are now teetering on the brink of collapse. At the end of July, the Federal Deposit Insurance Corporation listed 540 "problem" banks, ranging from small state-chartered ones with too many weak agricultural loans to nationally chartered banks with bad business loans. Among the 540, the FDIC secretly lists dozens as likely to fail unless they are soon merged with healthier financial institutions. Says John Downey...
...travel companies, has been churning out strategies for solvency ever since he assumed the L.A.O.O.C. presidency in 1979. To create start-up money, Ueberroth squeezed the biggest plum he had: TV rights. Five interested bidders, including the three major networks, were each required to put up a $750,000 deposit, refundable later without interest. "We had no funds, no office, no telephone," says Ueberroth, whose staff will swell from 425 currently to 35,000 by next July. "We needed an income source." The winner, ABC, will ante up $225 million, nearly three times what NBC paid for Moscow. Says...
...assets: $7.4 billion), Michigan's second largest bank holding company, employees can tailor their benefit packages to help pay for child care. At Baker Packers, a unit of California-based Baker International (1982 revenues: $2.5 billion), workers can cash in up to a week of vacation and deposit the proceeds in company-sponsored savings plans that invest in stocks and other securities...
Ultraviolet radiation has less obvious but even more pernicious effects. By altering proteins in the lens of the eye, it causes a gradual deposit of yellowish pigment. As with the tan, this pigmentation is beneficial up to a point; it helps shield the delicate retina from UV damage. But the dense accumulation of pigment after years of sunning is the main cause of cataracts...