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The article explores the plans created by Turner Corp., a New York City-based general contractor, to maintain its earnings growth average of 11% amid a shrinking market. Turner's profits declined 40% as of the second quarter of 1986 to $3.8 million and its return on equity dropped to 5.6 percent due to competition and few completion of construction jobs. In preparation for the worst, its management has taken special takeover premium bylaws to prevent two-step takeover.

The article focuses on Andrew Kalotay, director and manager of an investment firm Salomon Brothers Inc. in New York. It mentions the great contribution of Kalotay which have made Salomon Brothers a significant player in the finance market by obtaining a dominant share of the $70 billion market. It discusses how his computer program that factors in interest rates have brought great advantages to several companies in the U.S.

Focuses on efforts to reform the New York Stock Exchange (NYSE) by Chairman Richard Grasso and the implications to the exchange's auction process. Changes in other exchanges and trading technology; Background on Grasso's career at NYSE; Results of Grasso's growth campaign; Issue of integrating electronic systems.

Discusses MBIA, a New York-based company and insurer of municipal bonds. Effect of interest rate hikes on the financial sector; Comments of MBIA executives Gary Dunton and Jay Brown; MBIA financial status and stability; Efforts to set up a secondary market; Outlook.

Reports on developments related to economic conditions in the United States as of January 17, 2000. Includes the initial public offering fraud committed by Melville, New York-based Milan Capital; Stock markets' record performance; David Glass' resignation as chief executive officer of retailer Wal-Mart.

Reports that the initial public offering (IPO) of the medical supply division of Ronkonkoma, New York-based Quality King Distributors Inc. faces bad timing. Inheritance tax bill facing the heirs of company founder Bernard Nussdorf; Balance sheet figures; Uses of the IPO proceeds; Michael Sosnowik's appointment to run the division.

Reports on stock index mutual fund managers' use of cross-trading practices in stock purchases at the New York Stock Exchange to avoid brokerage costs. United States Department of Labor (DoL) Pension and Welfare Benefits Administration's evaluation of cross trade practices; Manipulation of mutual funds' value through cross trades.