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ministration.
U.S. District Judge Harold H. Greene did not set a date for sentencing.
Rates expected to fall
RICHMOND — Most financial experts expect mortgage interest rates to fall, but are unsure of the size of the decrease, saying that international pressures will have a lot to do with the drop.
Rates fell sharply in the spring, then blipping up a full percentage point in June, and recently have begun easing, said bankers.
Applicants for 30-year loans can get fixed rate of about 10.125 percent instead of 10.5 or 11 percent.
Dairy co-op for sale
LAUREL, Md.— High’s Dairy Products Inc. has put its 352 convenience stores, an ice cream plant in Laurel, Md., and a milk plant in Frederick, Md., up for sale, but not without added safeguards for employees.
The company, which is a division of Capitol Milk Products Cooperative Inc., is requiring bidders to make assurances that current employees will be retained.
“Negotiations will take into account the interest of our people,” William R. Kiser, chief executive officer of Capitol Milk Products, the parent company, said Friday. “Whoever buys us will buy us intact, including management.”
Mr. Kiser told the Northern Virginia Daily of Strasburg, Va., he will not consider bids under $50 million. In addition, bidders must guarantee to continue buying milk from member farmers for 10 years.
High’s, which is privately held, is now owned by 154 member farmers who supply dairy products for the company to process and sell. When membership was at its height, 267 farmers belonged to the cooperative Mr Kiser said.
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