The Regions
DESPITE A FAIRLY ROSY 1996 for John Nuveen & Co., two minority shareholders on Friday criticized the hefty bonuses awarded to the firm's top executives. Page 2
LOUISIANA GOV. MIKE FOSTER and his advisers are compromising by agreeing to use a $318 million surplus to defease state bonds over six years, rather than cram it into a juicy one-year windfall. Page 3
IN THE WAKE OF A "SUCCESSFUL" BOND DEAL, the San Antonio City Council Thursday dropped co-manager Howard Gary & Co. from its underwriting syndicate amid concerns about the Miami-based firm's business practices. Page 5
U.S. REP. DAN SCHAEFER SAID FRIDAY he expects his electric power deregulation bill to be voted on by the House Energy and Power subcommittee as soon as July. Page 26
AFTER WEEKS OF WAITING, the Pennsylvania Intergovernmental Cooperation Authority on Friday closed on a novel transaction that combines a forward purchase agreement with a "European option" to recapture more than $5 million of accumulated losses on reinvestment of bond proceeds. Page 27
Washington
A NATIONAL ASSOCIATION OF BOND LAWYERS COMMITTEE is urging bond counsel to send clients letters that identify the client, outline which services will be provided and which will not, clarify the length of the engagement, describe any conflicts of interest, and explain the basis for fees. Page 4
From the Wire
HEATED DEMAND FROM INSTITUTIONS for $111.3 million of Massachusetts Port Authority special facilities revenue bonds Wednesday prompted the introduction of five new term bonds at the repricing and restructuring, according to an underwriter on the deal. Page 2
Retail
RETAIL INVESTORS WILL FAVOR NEW ISSUES this week that satisfy the demand for high-yielding or high-quality paper at a time when finding either is a challenging task in many regions. Page 6
Derivatives
THE EXUBERANCE THAT GREETED the Port Authority of New York and New Jersey's recent $932 million bond sale for the new International Arrivals Terminal at New York's John F. Kennedy International Airport spilled over into the bidding for the deal's two reinvestment contracts, market participants said. Page 28
Northeast
AFTER A YEAR AWAY from the municipal market, Maine will reappear tomorrow with a $42.7 million general obligation bond issue. Page 30
Listings
New-Issue Calendar Page 10
Notices of Sale Pages 15-16
Executive Placement Page 18
Bond Redemptions Pages 23-25
Market Statistics Pages 32-35
