1.   Brown Inc. last month said it would shutter muni operations after agreeing to be bought by Bankers Trust New York Corp.

2.   In the past, the cost of major bank acquisitions has roughly been equaled by the costs that were eliminated as duplicate operations were shuttered, he said.

3.   Investors have fewer bidders for their bonds, too, as some securities firms shutter their operations.

4.   Overseas, Scholastic will shutter its operations in France, combine its operations in the U.K. and expand its businesses in Canada, Australia and New Zealand.

5.   Quietly, some marginal state-owned operations are being shuttered.

6.   The bank was hit especially hard after it shuttered its operations in the United States in February under orders of U.S. banking regulators.

7.   The company improved its bottom line by cutting workers and shuttering inefficient operations.

8.   Its board of directors decided to shutter the operation.