Indicator Signals Slow Market Snapback Ahead
A Merrill Lynch study of 134 institutions reports cash reserves at 10.2 percent the second quarter, a four-year low, with only 26.1 percent planning to increase equity exposure. Many intend to reduce holdings, a record high, suggesting limited near term buying and potential for sharper market downsides. The analyst warns the market may be near a cyclical peak and vulnerable to negative surprises if cash reserves stay depleted.
MENTIONED IN THIS ARTICLE
Merrill Lynch
Hans J. Schueren
Schueren
Sumter Industry To Unionize
The United Furniture Workers of America plans to unionize Korn Industries Inc. in Sumter with about 500 workers. UFWA reports about 80 percent signed cards and expects a NLRB secret ballot within 45 to 60 days.
MENTIONED IN THIS ARTICLE
National Labor Relations Board
Winston- Salem
N.C
Korn
Rudd
UFWA
W.M. Tisdale
Sumter Cabinet Co
Sumter Hardwood Co
Korn Industries
Sumter
Georgia-Pacific
All Savers Act Aims to Boost Home Loan Funds
Congress passed the All Savers Act enabling tax exempt savings certificates paying 70 percent of one year Treasury yields up to 1000 dollars per individual. The act, effective Oct. 1, could raise funds for mortgages and help up to 750000 American families buy homes by increasing savings flows to S and L associations.
MENTIONED IN THIS ARTICLE
Congress
All Savers Act
Savings and Loan Associations
H. Earle Holley
Palmetto Federal Savings and Loan Association of
Aiken
Treasury
Holley
U.S. League of Savings Associations
T. Clifton Weeks
Security Federal Savings and Loan
S&ls
Security Federal
Weeks
State workers riffed as 7 percent payroll cuts loom
Robert Mayben of the state Personnel Department coordinates the Reduction In Force effort and helps riffed workers find new state jobs. He notes 354 have asked to stay on file for a year and that most rehired have been general office staff while critical roles like electronic technicians and nurses remain in demand.
MENTIONED IN THIS ARTICLE
Columbia
Robert Mayben
Mayben
State Personnel Department
Hidden Dangers as Wires Can Turn Ladders Into Tragedy
A safety alert describes common objects that contact power lines leading to severe shocks or deaths. It lists aluminum ladders antennas kite strings and other items as risk factors and urges keeping lines clear and calling SCE&G for digging or downed wires.
MENTIONED IN THIS ARTICLE
Sce&g
Also Mentioned on This Page
Louis Rukeyser
Williams Furniture Division
David Tomlin
Associated Press
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