BUSINESS NOTES BANK PLUS IN DEAL WITH LIKELY BUYER.Bank Plus Corp. announced Monday that it is negotiating with a potential acquirer after the company's stock rose 19 percent Friday. The Los Angeles-based company has not signed a letter of intent or definitive agreement, Mark K. Mason, president and chief executive officer, said in a statement released Monday. Bank Plus is the holding company for Fidelity Federal Bank, whose branches are located in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Orange counties. - Daily News ProActive eases database storage CANOGA PARK - The database management software White Sands White Sands, uninhabited desert area, S central N.Mex. It is a center for U.S. military-weapons research and testing. On July 16, 1945, the first atomic bomb was exploded at Holloman Air Force Base (formerly Alamogordo Air Base). Technology sold to Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. Corp. last year is now being used in conjunction with the aerospace giant's Space Based Infrared An invisible band of radiation at the lower end of the visible light spectrum. With wavelengths from 750 nm to 1 mm, infrared starts at the end of the microwave spectrum and ends at the beginning of visible light. Systems program. The software, ProActive DBA, helps consolidate large amounts of information by streamlining the method in which data are stored. David Cherin, chief executive officer of Canoga Park-based White Sands said a traditional database functions like a sports car because it requires maintenance on a regular basis to ensure performance. However, the ProActive DBA reduces the size of the database and needs less overall maintenance, he said. - Daily News Vitesse to acquire Exbit Technology CAMARILLO Camarillo (kă'mərē`yō), city (1990 pop. 52,303), Ventura co., S Calif.; inc. 1964. It is the center of a fertile farm area where citrus fruits and flowers are grown. - Vitesse Semiconductor Corp. has announced plans to acquire Exbit Technology, a developer of high-speed chip sets and accessories for the communications and networking industry, based in Herlev, Denmark. In connection with the acquisition, Vitesse will issue approximately 4.4 million shares of its common stock in exchange for all outstanding Exbit common shares. In addition, up to about 2.5 million shares of Vitesse common stock will be reserved for future issuance to the stockholders and warrant holders of Exbit upon achievement of certain performance goals. The transaction is expected to be completed in the quarter ending June 30, subject to regulatory approval. - Daily News Claydan's founder on Cetalon board Los Angeles-based Cetalon Corp. announced Monday that John Danylowich has been retained as a full-time consultant and has also been appointed to its board of directors. In 1984, Danylowich founded Claydan Enterprises and introduced the ``store within a store'' retail concept to the vitamin, mineral and supplement category in Canada. - City News Service Ford vehicles The following is a list of vehicles manufactured by the Ford Motor Company under the Ford marque. Cars
DETROIT - Ford Motor Co. has tapped a former DaimlerChrysler AG executive to guide its Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the vehicle-selling venture now running in nine states with more to follow. FordDirect has been rolled out in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Delaware, Georgia, Massachusetts, Nevada, New Jersey, Tennessee, Texas and Washington - states that together account for 35 percent of Ford's annual U.S. vehicle sales. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Short-term T-bills down to 4 percent WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction to their lowest point in more than two years. The Treasury Department sold $9 billion in three-month bills at a discount rate of 4.125 percent, down from 4.2 percent last week. An additional $8 billion was sold in six-month bills at a rate of 4.02 percent, down from 4.12 percent. The three-month rate was the lowest since Oct. 26, 1998, when the bills sold for 4.07 percent. The six-month rate was the lowest since Oct. 19, 1998, when the rate was 3.865. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , rose to 4.19 percent last week from 4.17 percent the previous week. - Associated Press |
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