Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Steady As She Goes: Profit Is Up For S&Ls

Profit at the nation's savings and loans rose in the second quarter and should remain steady despite rising interest rates, regulators said Friday.

"Earnings are really pretty steady," said Jonathan Fiechter of the Office of Thrift Supervision. "I don't see anything on the horizon" to disrupt the trend.

Second-quarter profit totaled $1.29 billion, up from $750 million in the first quarter, even though the rise in short-term interest rates increased the cost of S&Ls' deposits. Only one S&L has failed so far this year. AP

***** Even Diehard Computer Users Like To Get Out Of The House

People may shop 'til they drop, but they probably won't use a computer to do it.

That's the verdict from a survey of 300 computerphiles who love using on-line networks such as CompuServe and America Online.

The survey, by market researcher Dataquest, found that people want on-line services so that they can chat using electronic mail, not shop using computers. Less than 10 percent of the respondents use on-line services for home shopping or home banking, the survey said. Contra Costa (Calif.) Times

***** Union Carbide Sells Indian Unit

Union Carbide Corp. will sell its stake in an Indian subsidiary to McLeod Russel Ltd. of Calcutta for about $90 million.

Eveready Battery Co., a division of Ralston Purina Co. of St. Louis, had been expected to bid on the subsidiary, which is India's largest producer of dry cell batteries.

The sale represents Carbide's exit from India, the site of one of the world's worst industrial accidents. In December 1984, a deadly gas leaked from Union Carbide India's plant in Bhopal, killing more than 3,000 people. …

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