Newspaper article St Louis Post-Dispatch (MO)
McDonnell Douglas Corp. played down Wednesday a trade journal's report that China and South Korea have chosen the European aircraft maker Aerospatiale to help build a new 100-seat airliner.
McDonnell has just launched the new MD-95, a 100-seat passenger aircraft. The company is planning on major sales for the MD-95 in Asia.
"This is a different situation. The Chinese and Koreans are preparing for an aircraft that will come on line after the MD-95," said Don Hanson, a spokesman for Douglas Aircraft Co. in Long Beach, Calif. Post-Dispatch
***** Banks Report Record Earnings In 3rd Quarter
U.S. commercial banks Wednesday reported record earnings in the third quarter, fueled by lower deposit insurance costs, strong loan growth and stable net interest margins.
The nation's 10,054 commercial banks earned $13.8 billion in the third quarter, surpassing the previous record of $12 billion in the second quarter and well above the $11.8 billion earned in the third quarter of 1994, the Federal Deposit Insurance Corp. said.
The ratio of equity capital to total assets rose to 8.14 percent in the third quarter, the highest industry average since 1941. Bloomberg
***** Two Firms Indicted In U.S. Fax Paper Probe
Two fax-paper suppliers from Japan and Wisconsin, and two industry executives, were indicted by a federal grand jury Wednesday for allegedly fixing prices in the United States and Canada.
Nippon Paper Industries Co., Appleton Papers Inc., Appleton executive Jerry A. …