Kokomo Tribune, May 20, 1994

Kokomo Tribune

May 20, 1994

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Issue date: Friday, May 20, 1994

Pages available: 104

Previous edition: Thursday, May 19, 1994

Next edition: Saturday, May 21, 1994

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All text in the Kokomo Tribune May 20, 1994, Page 1.

Kokomo Tribune (Newspaper) - May 20, 1994, Kokomo, Indiana 267 TRIBUNE May 50 cents Chrysler to erase pension deficit early Ohio AP Chrysler coming off its best quarter told shareholders Thursday it was raising its divi dend and would erase its bil lion unfunded pension liability by the end of the Chairman Robert Eaton also told the automakers annual meet ing he expects continuing strength in the industry and Disposable income is household debt is price pressures are down consumer attitudes are unemployment is down and average work week is Eaton People have more money and fewer They also have older and the number of licensed drivers is up 19 or over 10 in the last he The nervous nellies should look at the At a news conference after the Eaton said he disagrees with General Motors presi dent Jack who said Wednesday the Federal Reserves action this week to move interest rates higher was likely to slow auto sales by making car loans more We still feel that the industry is going to be considerably stronger than many of the forecasts out Eaton adding that Chrysler expects car and light truck sales to total 16 million vehi cles this Last years total was Were very pleased with the move the Fed Eaton We think well have a longer recovery as a Chrysler employs nearly workers at its Kokomo and transmission Eaton told stockholders the company was increasing its quar terly dividend 25 or 5 cents a to 25 and said Chrysler had fattened its fiveyear plan for spending on plants and products to The dividend increase is Chryslers second in six months and follows a first quarter with profits of the most in company Shareholders approved apian to double the number of Chrysler common shares from 500 million to 1 a move that could bring a stock Chrysler has contributed million so far this year reduce its unfunded pension liability to Eatons announce ment accelerates ttve schedule for eliminating will be made in each of remaining quarters this year to erase Chryslers pension deficitstood at at the end of Chrysler said it would erase its unfunded pension liabili ty by liability reached a record billion in 199 and has been a drag on the companys bal ance sheet and borrowing costs for Chrysler In his Eaton reiterated his support for health care reform and renewed a pledge to make Chrysler more stung by recalls dur ing recent vehicle plans to spend billion through 1998 to improve Eaton ssaid Chryslers plants are operating at and that demand is greater than the com panys ability to supply all of its vehicles except large vans and LH He said the company has orders for of its new com the but can build only this Eaton said expanding capacity by adding third shifts at some fac tories was a possibility United Auto Workers agreed this to going along plan for a third shift at the Detroit plant that builds Jeep Grand After Chryslers announcement of the pension fund move and dividend Moodys Investors Service raised its rating of Chryslers debt two from Baa2 to Chrysler shares closed Thursday up cents at on the New Yprk Stock Early shares advanced another 75 Inside todays Tribune Classified Entertainment Local News of A79 A delicate situation Bomb technician Jeff left in above j shown holding pieces of potentially explosive Orville Harness and an unidentified ATF look over device which was detonated by Kirk Thursday afternoon near Chrysler main Inves tigators havent determined yet if the shown at was actually a pipe or something Tribune photos by Djavid McChesney Police detonate device at Chrysler By MIKE FLETCHER Tribune staff writer Kokomo police detonated what they said resembled a pipe bomb Thursday near the main gate at Chrysler 2401 Reed No injuries were Assistant Chief Charles Hackett said police dont know if the object was a but said it was an unidentified object with explosive Kokomo Police Emergency Response Unit arrived at the scene at blocked off a large section of the parking lot near the main gate with crime scene tape and were searching for pieces of the According to Michael Hol the object was originally found inside the plant in depart ment Police were told the object was found in a shipping container by an As an intended the employ ee placed it in another employees box of materials that both were working The surprised co thinking the object resem bled a pipe notified a super Who then took it outside in the parking lot and called Bomb technician Jeff Kirk arrived on the scene and detonated the object to eliminate any potential To do he placed the object next to a wall in the parking placed a bomb blanket over it and detonated it by putting a counter charge next it and exploding the The explosion ripped a hole through the bomb which Kirk said was made outof the same material used in the bulletproof vests worn by police Kirk said that pieces from the object flew as high as 25 feet high and approxi mately 75 feet around the detona tion Kirk wouldnt say if the object was a All I can say is that it has the appearance of a possible explosive he Special agents from the Federal Bureau of Tobacco and Firearms arrived from Indianapolis around to examine the Hackett They were called in because they are experts in examining evidence of this he The agents had no comment and refused to answer The case remains under investi gation by city police and the Anyone with information regard ing this situation should contact either Holsapple at or the KPD Hotline at Give it the sun Frederic a Purdue Uni first solarpowered electric was versity drives the Purdue Solar Rac heading to Delco Park for a Kokomo Engi ing Clubs Boilermaker Solar Special on neering Society For more on the just south of Sycamore at about 5 see Page The which is Purdues Tribune photo by Brian Reynolds Jackie Onassis is dead She captivated our nation with her grace NEW YORK AP Jacqueline Kennedy whose glamour epitomized the administration of John Kennedy and whose digni ty carried the nation through the shock of his has died of She Was The woman who craved privacy and shunned the limelight for decades died Thursday nignt with a cluster of TV satellite dish es and cameras parked outside her Fifth Avenue apartment build a testament to the publics enduring fascination with Her Caroline Kennedy Schlossberg and John Kennedy were at her along with her longtime Maurice and other family Jacqueline Kennedy Onassis was a model of courage and digni ty for all Americans and all the President Clinton said in a More than any other woman of her she captivated our nation and the world with her elegance and Even in the face of impossible she carried the grief of her family and our entire nation with a calm power that somehow reassured all of us who he Onassis disclosed in Febru ary that she was suffering from nonHodgkins a can cer of the lymph As recently as she had gone for a walk in Central After three days of treatment at New York HospitalCornell Med ical she returned to her apartment Wednesday evening to She shunned medication in her final said her friend and Nancy Tuck There was nothing more to do for Tuckerman Onassis had signed a living will requesting that no extraordinary measures be The cancer had spread to her liver and and she devel oped pneumonia and was in a coma by Thursday The New York Times Tuckerman would give no details on funeral As a priest administered last rites Thursday the Kennedy clan gathered around her Edward Sar gent and Eunice Maria Ethel Joseph Kennedy 11 and Onas sis Lee Radziwill Please see Page ;

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