John H. Dasburg, the former president of Marriott's lodging group, was named president and chief executive of NWA Inc., parent of Northwest Airlines. Dasburg left Bethesda-based Marriott a year ago to become executive vice president at NWA. He replaces Frederick B. Rentschler, who resigned after four months at NWA, citing personal and family reasons.
Mortgage rates fell this week. Rates on 30-year fixed mortgages fell to an average 10.09 percent from 10.13 percent last week, while adjustable-rate notes fell to 8.09 percent from 8.15 percent, the Federal Home Loan Mortgage Corp. said.
The Big Three automakers said they will continue a series of temporary factory closings next week resulting in nearly 50,000 one-week layoffs.
USF&G was accused of misleading investors by promising continued high dividends on company stock. The allegations were made in lawsuits filed by three stockholders in U.S. District Court in Baltimore. The insurance company announced this week that it had a third-quarter net loss and would cut its dividends.
Equitable Real Estate Investment Management, which holds a $332.6 million mortgage, began foreclosure proceedings against developer John C. Portman Jr.'s holdings in downtown Atlanta's Peachtree Center.
The FTC will seek a court order blocking Ingersoll-Rand's proposed acquisition of Universal Bearings on antitrust grounds.
Federal regulators shut down Freedom National Bank of New York, a black-owned bank in Harlem with about $100 million in deposits, and Florida Federal Savings Bank, a St. Petersburg thrift with $2.5 billion in deposits that was convicted in May on charges of defrauding the government by filing false student loan default claims.
CenTrust Bank officials may face fines of more than $250 million stemming from charges of mismanagement filed by the Resolution Trust Corp. David Paul, the failed thrift's former chairman, and 15 other former officers and directors are accused of breach of fiduciary duty, waste and mismanagement.
Campeau Corp. appointed Stanley H. Hartt, a former chief of staff to Canadian Prime Minister Brian Mulroney, as chief executive and president.
Apple Computer named chief operating officer Michael H. Spindler president in a move that changes no one's responsibilities but endorses his leadership role.
Czechoslovakia was granted most-favored-nation status when President Bush signed legislation sharply reducing tariffs on imports from the East European nation.