BIZWATCH : MARKETS.MARKET LOGIC: The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. briefly jumped above the 5,900-mark Monday, just one session after its first move over 5,800, as Friday's record-setting rally drew more investors back into the market. The Dow ended 50.68 higher. MEMO DROP IN INTEREST: Interest rates on short-term Treasury securities fell in Monday's auction to the lowest level in several weeks. The Treasury Department sold $11.1 billion in three-month bills at an average discount rate of 5.07 percent, down from 5.17 percent last week. Another $11.1 billion was sold in six-month bills at an average rate of 5.19 percent, down from 5.30 percent. BANK BUY: Ventura County National Bancorp, which operates four branches in Ventura County, has been acquired by City National for $47 million in stocks and cash. The purchase is the second in less than a year for Beverly Hills-based City National, which is now the largest independent bank headquartered in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . HOME PLANS: Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box representatives will be at a meeting with the North Hills Homeowners Association to discuss a proposed new site for the chain. The meeting will be held at 7 p.m. Thursday at the Airtel Plaza Hotel The Plaza Hotel in New York City is a landmark 19-story luxury hotel with a height of 250 feet (76 m) and length of 400 feet that (122 m) occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan. , 7277 Valjean Ave., Van Nuys. The 120,000-square-foot store, part of a planned 236,000-square-foot shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , is proposed for a 19-acre site at Roscoe Boulevard and Woodley Avenue. The project is opposed by the homeowners committee. MAYBE A MERGER: Pac Rim Holding Corp. has received a proposal from Superior National Insurance Group regarding a possible merger or sale to Superior National Insurance Group. The Woodland Hills firm stated that while no final terms have been agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy and no definitive agreement has been executed, the proposal would involve a total cash consideration of $54 million, resulting in a receipt by common shareholders and other interest holders of approximately $3 per share. SMART STUDY: Merchants are attracted to ``smart cards'' as a way to gather information about customers, says a survey released by a group promoting the plastic cash cards embedded with a computer chip. Results were released Monday at the opening of a two-day convention of the group, the Smart Card Forum, which also is trying to convince the public that smart cards are protected and confidential. FINES: Four retailers have agreed to pay fines and change their advertising to settle a probe by 23 states into zero-interest loans the companies offer. Best Buy, CompUSA, Montgomery Ward and Tandy have agreed to pay a total of $925,000 to the states to end the investigation, Florida Attorney General The Florida Attorney General is an elected official in the U.S. state of Florida. The position has a four year term of office with a two term limit. Attorney General Term of Service Joseph Branch 1845 - 1846 Augustus E. Maxwell 1846 - 1848 James T. Bob Butterworth said in announcing the settlement Monday. The companies didn't admit wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do . HOT POTATO: One potato, two potato, three potato, four. Commodities traders today are to begin barking out orders for potato futures in the pits of the New York Cotton Exchange New York Cotton Exchange (NYCE) Commodities exchange in New York trading futures and options on cotton, frozen concentrated orange juice, and potatoes, as well as interest rate, currency, and index futures and options. , the first speculative buying and selling of potatoes since it was tried in 1979. That trading lasted less than a year because of supply shortages. MISCELLANEOUS: The Tarzana Improvement Association will sponsor a meeting Wednesday to discuss the creation of a downtown management district. The meeting will be held at 7 p.m. at 5655 Vanalden. . . . The California Korea Bank Plaza in Van Nuys has been acquired by Kyong Su Kim of Santa Ana for $4.55 million. The 86,000-square-foot center is located at 7400 Van Nuys Blvd. CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS T HE GAP Index of average worker and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. pay in selected advanced countries, 1994 Knight-Ridder Tribune Graphics Network |
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