Masonry Magazine February 1988 Page. 26
Washington Wire
Securities groups claim these provisions grant the SEC too much power and still leave the insider-trading rule vague.
CONGRESS WILL CONSIDER REPEALING the 54-year-old Glass-Steagall Act, which has separated commercial from investment banking since the Thirties. Repeal has now won the endorsement of all of the bank regulatory agencies with the new Federal Reserve Chairman, Alan Greenspan, backing such action. The Fed feels banking can be tied to securities-underwriting without risks to Federally-insured bank deposits that are inherent in stock market swings.
But the measure faces intense opposition from the securities industry, which says conflicts of interest are sure to result.
THE VETERANS ADMINISTRATION SEEMS SURE TO GET CABINET STATUS in 1988. The House has approved a new department, the Department of Veterans Affairs. The Senate seems likely to do the same early in the new session of Congress. Some in Washington worry that this new department will be a budget-buster. There will be a Secretary at Cabinet meetings wanting more veteran benefits.
The White House now backs the legislation because it is self-financing. All beneficiaries would pay an additional $4 each month for the basic coverage. A supplemental premium would be paid by those elderly persons who currently pay income taxes.
Management Group Buys Koehring
"Sky Trak" rough terrain forklifts today became the product of an all-American company. It did so when the assets of Koehring Construction Equipment were purchased from Canadian-based AMCA International Corporation by TRAK International, Inc., a new company created by former Koehring and AMCA executives.
Koehring-now TRAK International-designs, manufactures and markets Sky Trak rough terrain forklifts and Scat Trak skid steer loaders. "These products put us in a high-growth niche market," says Dean Axtell, TRAK International president and chief executive officer, "and one that is growing faster than the overall construction equipment market. Our Sky Trak product line replaces many rubber-tired cranes and straight-mast forklifts, due primarily to their forward reach advantages and the versatile Scat Trak market is continuing to expand with the addition of more attachments and applications.
Joining Axtell at TRAK International is Eldon J. McDonald and P. E. (Enoch) Stiff, former AMCA executives, who are executive vice presidents of the new firm; Reggie Holderfield and Jim York, vice presidents-Sales; and Paul Freedy, vice president-Engineering.
Axtell also emphasized that the company would be headquartered in Wisconsin and continue to operate with the present staff and work force.
TRAK International started out as the Kwik-Mix Concrete Mixer Company in 1923 and was part of Koehring Company until 1980 when the Wisconsin corporation was purchased by AMCA International, a broad-based corporation providing manufactured products and engineering/construction services in the areas of pre-engineered buildings, industrial products, machine tools, energy production and steel fabrication.
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