Word: mergers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
These problems have been too much for many thrifts. During 1981 a record 256 S and Ls and savings banks slid into mergers with other institutions. Last month, for example, the Harlem Savings Bank announced its union with the Central Savings Bank on the other side of Manhattan. The marriage had been arranged by federal banking authorities to save failing Central, which had a third-quarter operating loss of $8.3 million against a net worth of $17.7 million. To bring off the merger with Harlem, the Federal Deposit Insurance Corporation took over a package of Central's weak loans...
...condition of thrifts is perhaps worst in New York City. Federal officials are now trying to find a merger mate for the venerable (founded 1819) New York Bank for Savings, which has assets of $3.6 billion. At least eight other New York institutions are also in trouble. Says Muriel Siebert, the state's superintendent of banking: "The problems are extremely serious. These are institutions that survived the Civil War and the Great Depression and never missed an interest payment. This is air unprecedented phenomenon...
...agency, though, was unable to find a merger partner last summer for Economy Savings and Loan in Chicago, and that bank was forced to close. But its 8,054 depositors did not lose any money because their accounts were insured up to $100,000 by the Federal Government...
...supply-side test, a financial shake-up and merger mania...
Perhaps Gaddafi's most brazen use of force was his invasion of neighboring Chad in November 1980 in support of President Goukouni Oueddei. Barely a month later, Gaddafi declared a merger of the two countries and kept up to 10,000 Libyan troops in Chad as a virtual occupation force. Then, just as abruptly, Gaddafi removed his troops last November after the Organization of African Unity asked him to do so. But he may not stay out: much of Chad is marked on Gaddafi's own maps as part of a greater Libya that also includes sections of Niger...