RV industry group selects Eisner
A coalition representing 5,000 recreational vehicle manufacturers, dealers, campgrounds and parts suppliers has selected Baltimore-based Eisner & Associates Inc. to conduct a nationwide marketing campaign.
The Recreation Vehicle Industry Association considered 22 agencies from throughout the country before picking Eisner. Billings for the account are expected to total $5 million the first year.
Eisner, a marketing, advertising and public relations agency, has offices in Baltimore and Washington, and its billings exceed $90 million.
Managed-care shares fall
Shares in some managed health care companies fell yesterday amid investor concern that rising costs will result in disappointing earnings.
The stocks slid one day after Nashville-based Coventry Corp. to slash its earnings estimates, warning that several factors are causing medical costs to rise, and that other companies were likely to be affected.
Among the losers yesterday was Rockville-based Mid Atlantic Medical Services Inc., whose stock closed down $1, at $19.25 a share.
2-year notes yield 5.69 percent
Yields on two-year Treasury notes fell in yesterday's auction to the lowest level in more than year.
The high yield was 5.69 percent, down from 6.17 percent at the last auction on May 23. It was the lowest rate since two-year notes sold for 5.59 percent on April 26, 1994.
Chrysler tender initiated
Billionaire investor Kirk Kerkorian's Tracinda Corp. said yesterday it that began its $700 million tender offer for up to 14 million shares of Chrysler Corp. common stock at $50 a share.
Tracinda, which announced the offer Monday, just weeks after it abandoned a $22.8 billion hostile bid for all of Chrysler, said its cash tender offer will expire July 25 unless extended.
Shares of Chrysler rose 37.5 cents, to $47.75, on the New York Stock Exchange.
Travelers appoints Miller
Travelers Group Inc. named Heidi G. Miller chief financial officer and senior vice president.
The New York-based insurance and financial services company said Ms. Miller, 42, will replace President and Chief Financial Operating Officer James Dimon as manager of the company's corporate accounting, treasury and financial planning and analysis.
Mr. Dimon will remain Travelers' president and chief operating officer.
Travelers is the parent of Baltimore-based Commercial Credit Co.