FMC to Close South Charleston Plant Putting 450 Jobs at Risk
FMC Corp will close its South Charleston chlorine and caustic soda plant by year end, risking about 450 jobs. Olin Corp abandoned plans to buy the chlor-alkali unit but will acquire FMC’s chlorinated bleach operation and other holdings. The company cited unmet financial goals and will phase down operations while offering severance and counseling. Mayor Robb warned of budget impact, potentially 10 percent cuts.
MENTIONED IN THIS ARTICLE
South Charleston
FMC Corp
FMC
Olin Corp
Olin
United Steelworkers Union
Bud Ward
USW
Bob Wise
D-W.va
William A. McMinn
Industrial Chemicals Group
Alec Houston
Stamford
U.S
Sun
Michigan
McMinn
Nitro
Union Carbide
Institute
Warner-Klipstein Chemical Co
Chlor-Alkali
Fairness new aim of Reagan tax plan
Washington AP report outlines Reagan tax plan focusing on fairness with aims to shrink brackets to three and shift many itemizers to standard deduction. Return free filing remains in development while elimination of deductions and caps would raise or lower taxes for various groups, sparking concern over lost fairness and complicated tables.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Internal Revenue Service
IRS
John Q
Peter Elinsky
Peat, Marwick, Mitchell & Co
White House
Elinsky
Profit-taking stalls after Friday's market record
New York stocks closed mixed as traders booked gains from Friday's record rally. Utilities and financials rose on lower interest rate expectations while energy issues fell. The Dow dropped 4.48 to 1310.93 with 125 million NYSE shares traded. bond prices rose as bills fell. Major banks expected to cut prime rates.
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NEW York
New York Stock Exchange
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Ameritech
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U.S
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E F Hutton names leader in management reshuffle
E F Hutton Group Inc. named Robert P. Rittereiser its new president as part of a top management reshuffle following the brokerage unit’s guilty plea in a mail and wire fraud scheme. He joins an office of the chairman alongside Robert Fomon Scott Pierce and Thomas Lynch.
MENTIONED IN THIS ARTICLE
E.F. Hutton
Merrill Lynch
Hutton
Robert Rittereiser
Phibro-Salomon
Minerals & Resources Corp
New York
E.F. Hutton Group Inc
Robert P. Rittereiser
Merrill Lynch & Co
Rittereiser
Robert Fomon
Scott Pierce
E.F. Hutton & Co, Inc
Thomas Lynch
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