Yields on five-year Treasury notes rose in Wednesday's auction to the highest level in more than three years. The high yield was 7.55 percent, up from 7.18 percent at the last auction on Sept. 28. The notes will carry a coupon interest rate of 7.5 percent. A total of $11-billion in notes was sold out of bids totaling $33.1-billion.
Ford's earnings soar to record
Ford Motor Co. said Wednesday it more than doubled third-quarter earnings, setting a company record and bringing Big Three automakers' profits to more than $2.3-billion for July through September.
Combined earnings a year ago for Ford, General Motors Corp. and Chrysler Corp. were about a third of that _ $773-million,including GM's $113-million loss.
Ford's $1.1-billion third-quarter profit was 143 percent above the 1993 period, breaking an $856-million third-quarter record set in 1988. Earnings per share were $1.04 vs. 40 cents a year ago, when Ford earned $463-million.
COMPANY MOVING TO TAMPA. Able Telcom Holding Corp. announced that it is moving its corporate headquarters from Fort Lauderdale to Tampa on Nov. 1. The transfer affects fewer than six employees, the company said. The new offices at 8875 Hidden River Parkway are close to Transportation Safety Contractors Inc., a subsidiary that was acquired in June. Able Telcom maintains, sells, distributes and installs telecommunications equipment in the United States and Latin America. The company, which is traded over the counter, reported revenues of $16.6-million for the nine months ended July 31.
Fiesta Falls Adventure Golf in Indian Rocks Beach is owned by a limited partnership whose general partner is Lobdell Management Services Inc. of Traverse City, Mich. David Shepherd, who once managed the miniature golf course, has never been a part owner and did not help design the course. A June 12 story about miniature golf included incorrect information about Shepherd's role and also misspelled his last name. Shepherd also provided incorrect information about the course's revenues and profit, according to Lobdell.
U.S. companies that consumers scored highest for quality, friendliness, concern for their needs:
Hershey Food 92%
Campbell Soup 89%
SOURCE: Promotional Products Association survey of 22,500 consumers regarding 150 companies; research by PAT CARR
DOW DOLLAR YIELD
30 INDUSTRIALS VS. JAPANESE YEN 30-YEAR U.S. BOND
3848.23 96.85 8.06
-2.36 +0.02 +0.02