Manufacturers Hanover may soon have company in the bridge fund market.
Manufacturers Hanover also announced plans for a $500 million stock offering.
Manufacturers Hanover currently charges 17.8 percent on its credit cards.
Only Manufacturers Hanover, at 17.8 percent, offers a lower rate.
Manufacturers Hanover has created a global services group, the first step of its promised reorganization.
Manufacturers Hanover is getting out of the institutional money management business.
For all of 1987, Manufacturers Hanover expects to lose $1.05 billion.
Manufacturers Hanover announced a reorganization of its business into four major groups.
For the full year, Manufacturers Hanover reported a loss of $1.14 billion.
Manufacturers Hanover has also announced plans to cut 1,400 workers.