Ford to Sell Aerospace Subsidiary
Ford Motor Co plans to sell its Ford Aerospace subsidiary to focus on core businesses amid potential Pentagon defense cuts. Ford Aerospace employs about 17,000 workers and derives roughly two thirds of its revenue from defense contracts, a move echoed by Chrysler Technologies and Gulfstream Aerospace in recent weeks. GMC also unveils early retirement incentives, hiring limits, and lower ad spending as GM seeks cost cuts in a weak industry. The program lacks a target or deadline and sits alongside the 1987 Action Plan to reduce up to 13 billion in costs by year end.
MENTIONED IN THIS ARTICLE
Ford
Detroit
Ford Motor Co
Ford Aerospace Corp
Pentagon
Ford Aerospace
Chrysler Corp
Chrysler Technologies Corp
Gulfstream Aerospace Inc
GMC
General Motors Corp
Jerry Sullivan
UAL Chairman Continues Buyout Talks
UAL Corp. Chairman Stephen M. Wolf remains on the board as discussions continue. The board has not ruled out Wolf leading an ESOP proposal and encourages the process, according to spokesman Rob Doughty on Friday.
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UAL
UAL Corp
Stephen M. Wolf
Wall
Wolf
Rob Doughty
Former Boeing executive jailed for passing classified Pentagon files
A 64 year old former Boeing marketing executive Richard Lee Fowler was sentenced to two years in prison for providing more than 100 classified Pentagon budget documents to Boeing and other defense contractors. In a second case a San Diego defense consultant received one year for participating in a bribe scheme involving a Marine Corps procurement official.
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Alexandria
Boeing Co
Pentagon
Richard Lee Fowler
Air Force
Boeing
San Diego
Calif
Marine Corps
Soviets Buy Additional Wheat From U S
The Soviet Union purchased 497750 metric tons of U S wheat at subsidized prices for the coming month under a long term grain supply accord. F Paul Dickerson of the Foreign Agricultural Service announced the move noting Export Enhancement subsidies. The report also covers India supporting petitions challenging Union Carbide's 470 million settlement over the 1984 Bhopal disaster.
MENTIONED IN THIS ARTICLE
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U.S. Washington
Soviet Union
U.S
Agriculture Department
F. Paul Dickerson
Department
Foreign Agricultural Service
Union Carbide
New Delhi
India
Prime Minster
Singh
Union Carbide Corp
Bhopal
Law and Justice
Dinesh Goswami
Rajiv Gandhi
New York Stock Exchange At Week's End
New York stock actions aired from the week’s end with brief quotations on selected issues. Prices show mixed moves as trades closed with unclear highs and lows.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
NEW York
Eis New York
American ‘Stock Exchange
Taree
Coron
Goa
Toe Associated
Traffic jams cost drivers nationwide in 1986 study
A study by the Texas Transportation Institute found jam packed roads in 29 US cities cost drivers 24.25 billion dollars in 1986 due to delays wasted fuel and higher insurance premiums. Los Angeles topped the list as the most congested city, while New York Chicago and Boston were notably congested but not the worst.
MENTIONED IN THIS ARTICLE
Dallas
Texas Transportation Institute
Los Angeles
New York
Chicago
Boston
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