Word: discount
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Dates: during 1980-1989
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...elder Masselli in prison, may have ordered the death of his son as a message to keep quiet. Masselli is also co-owner of Jo-Pel Contracting & Trucking Corp., which has been named in a half-million-dollar New York City landfill and excavation scandal. But investigators tend to discount this as a possible motive for Nat Masselli's murder...
...there are some genuinely hopeful signs. The towering interest rates that virtually every economist has identified as the most daunting hurdle to recovery have come tumbling down faster than al most anyone would have dared to predict a few weeks ago. The Federal Reserve Board last week dropped its discount rate, the amount it charges banks and other financial institutions that borrow funds, for the fourth time since July 19. The discount rate now stands at 10%. Mean while, the prime rate that banks charge their most creditworthy business customers has dropped to 13½%, down three points since midsummer...
...take on all entrants to this market. It just means the competition is going to get a little heavier." Bank-America, which must still receive the approval of the Federal Reserve Board for its own bold move out of traditional banking, the purchase of the Charles Schwab & Co. discount brokerage firm, is not expected to oppose the Federal Reserve's Sept. 4 review of the Citicorp takeover...
...Watt returned West to become the first president of the Denver-based Mountain States Legal Foundation, a "public interest" law firm underwritten by conservative Western businessmen. Under Watt, Mountain States went to court to fight against discount utility rates for elderly and disabled people in Colorado, federal strip-mining regulations, a plan to designate part of a Wyoming oilfield a protected wilderness area and a National Park Service ban on motorized rafts in the Grand Canyon. "When Jim believes he's right, he's a man of action," says Lawyer William Mellor III, who worked for Watt...
Occidental's action, plus a drop in the Federal Reserve's discount rate from 11% to 10.5% and the prime rate by some leading banks from 15% to 14.5%, provided an upbeat ending to a gloomy week. The financial community had earlier been rocked by the sudden bankruptcy of Lombard-Wall, Inc., a New York City firm that specialized in trading government securities. Though Lombard-Wall had only 55 employees, it had run up staggering debts, including $45 million owed to Chase Manhattan Bank. Chase was already reeling from an after-tax loss of $117 million that resulted...