Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Bankers' Group Sees Mortgage Rates At 10%

The Mortgage Bankers Association said Wednesday it expects interest rates to rise by at least one percentage point this year and to keep climbing in 1995, putting a damper on house buying and construction.

The MBA, the nation's largest house lending group, expects 30-year fixed-rate mortgages to rise to 9.8 percent by the fourth quarter of next year, compared with 8.89 percent last week. Reuters

***** Angelica Buys N.Y. Laundry

Angelica Corp. has bought a laundry plant in Buffalo, N.Y., that serves 32 hospitals and nursing homes in upstate New York.

Terms weren't disclosed. It is the second laundry Angelica has bought in two weeks: On Sept. 29, the firm bought Rice Laundry Inc. in Houston.

The Buffalo business, operated as Pendrick Laundry Inc., should add about $9 million a year in sales to Angelica. The laundry has 140 workers.

***** Trucking Firm Gets New Chief

Oliver Transportation Inc. of Mexico, Mo., has a new president and chief executive.

Wayne M. Sampson, the trucking company's chief financial officer, has replaced Tony Meador in the top spot. Meador, who was hired in 1990 and led a public offering in June 1993, has reduced his management duties "for personal reasons" and is now vice chairman, the company said.

Founder John "Pete" Oliver remains the company's chairman.

***** THE LINE FORMS AT 30,000 FEET Female Travelers Get A New Perk

Midway Airlines will redesign restrooms on its five aircraft to make one available for women passengers only.

One restroom on each of the 100-passenger, Fokker 100 jetliners will be redesigned to be lighter and airier in appearance, and will have carpeting and hand lotion dispensers, Joanne Smith of Chicago-based Midway said. …

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