GM plants restart while others start layoffs in strategic shift
In Detroit, more than 30,000 GM workers at nine plants returned to work as production resumed after a parts shortage caused by a strike. Meanwhile 10,900 workers at three plants began weeklong layoffs, and 28,570 remained on layoff from last month. About 80,000 non-striking GM workers faced outages from Delco Electronics Kokomo parts stoppage. The Kokomo dispute over subcontracting and radio production transfer spurred 7,700 workers to walk off on Nov 17. the strike was settled six days later.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
John Mueller
Delco Electronics
Kokomo
Ind
Mexico
Dollar Weakens as U.S. Political Turmoil Lifts Gold
The U S dollar fell against major currencies in early European trading as political furor over U S arms dealings with Iran grew. Gold rose nearly ten dollars to around 400 dollars an ounce, with London bids near 395 and Zurich around 400 by midmorning.
MENTIONED IN THIS ARTICLE
London
U.S
Iran
Zurich
Stock market ends lower amid Iran tensions and program trading
The Dow slipped to 1912.54, down 1.69, as losers beat gainers about 3 to 2 on NYSE with volume at 133.75 million. Chesebrough Pond’s rose after a $66 tender offer by American Brands. NASDAQ fell 1.70 to 357.87 as indexes retreat.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Dow
Alfred E. Goldman
A.G. Edwards & Sons, Inc
St. Louis
Goldman
Chesebrough-Pond’s Inc
American Brands Inc
Standard & Poor
Burley quota grower applications due February 15 1987
In Tazewell Virginia the ASCS notes new grower burley quotas require applicants to own the farm and have two years of recent burley experience as operator, tenant, or sharecropper, derive at least half their income from farming, and have no other farm with a barley quota. Wool producers urged to file for incentive payments as sales finish. Initial signup for the 1987 Agricultural Conservation Program runs through January 30, 1987 with options for annual or long term agreements and cost share between 40 and 65 percent.
MENTIONED IN THIS ARTICLE
Tazewell
ASCS
GM to buy out Perot and three EDS executives
General Motors agrees to acquire all 12 million GM Class E shares held by H. Ross Perot and three top EDS executives for 33 dollars a share, totaling 400 million, plus 350 million in contingencies. Perot resigns as EDS chairman and GM board member as EDS becomes part of a new group with Hughes Aircraft Delco Electronics and GM defense units.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Electronic Data Systems Corp
H. Ross Perot
Texas
EDS
Hughes Aircraft Co
Delco Electronics
Roger Smith
New York
Perot
Gm’s
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Wheat First Securities, Inc
Col Gas
Crane
Deere
Det Ed
Disney
Dminion Res
Duke Power
Eastern
G&f
Elgin
Emrs el
Ethyl
Firestone
First Walk
Fluor
FlowrsInds
Frort Mc
Galaxy Oil
Grhart Owen
GaPacific
LTV Corp
Litton
LaPacific
LaLa & Exp
la Ruly Trst
Lowes Bha
Magnet Bank
Manor Care
MAPCO
Pennwall
Pepsico
Pittston Plantronics
Potomac el
Quak
Inds
Kmart
KaisrAl
Kopers
Bie
AMR
Krogers
AllisCh Lukens
M— McDerl
NCR
At&t
Armco
BellSou
duPont
Royld
DugSt
Scott P
Exxon
Tenaco
Texaco
Uswsts
Unocal
Ay Goodyr
William
IBM
Apple Computer
Atlantic Research
Bassett Furniture
Bluefield Supply
Burke Parsons
Cadmus Communications
Coherent
Bt Dibrell Bros
Dominion Bankshares
First Fed $ & LLC
8 & K Famous Brands
Shoneys Inc
Service Merchandise
Sovran Financial
Starr Surgical
Westmoreland Coal
Williams Industries
Fri
Thomas J. O’grady
Integrated Automotive Resources
Wayne, Pa
NBC
Bruce Goldsmith
National Business College
Logan ST
Bluefield
Charlottesville
Danville
Martinsville
Lynchburg
Roanoke
Westwood Obgyn, Inc
Everett F. Magann
Westgate Shopping Center
Virginia
L Stephen P. Meyer
Railroa
Paul S. Perfater
Edward Lilly
Greenbrier Dr
Hinton
Mercer St
Princeton
Lilly
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