UAW Local Rebuffs GM Concession Pact Amid Nationwide Vote
Linden New Jersey Local 595 rejects the $3 billion General Motors concessionary contract by an 88 percent margin at the Linden assembly plant. UAW officials express confidence, planning a Friday press conference as other locals vote.
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Detroit
UPI
General Motors
New Jersey
United Auto Workers
UAW
Linden
N.J
UAW Local 595
Local 595
Anthony Fernandez
Ohio
American Motors Corp
Milwaukee
AMC
Detroit Free Press
Flint
Mich
Framingham
Mass
Doraville
Lordstown
U.S. Steel freezes sheet steel prices for 1982
U S Steel Corp froze prices on its entire sheet steel line through 1982 to counter rising foreign imports. Sheet steel makes up 35 to 40 percent of the companys output.
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Pittsburgh
UPI
U.S. Steel Corp
Ford declines second quarter dividend for common stock
Ford Motor Co board votes not to pay a second quarter dividend, continuing a pause since January as the company works toward profitability. Analysts note the no-dividend policy began with the first quarter and follows Ford’s 1980 81 losses, with sales down year to date and a $1 billion UAW concession pact under negotiation.
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Detroit
UPI
Ford Motor Co
Ford
United Auto Workers
Dollar and gold surge amid crisis jitters before Easter weekend
The dollar rose sharply as traders weighed the Falklands crisis, a possible French franc devaluation, and Syria Iraq rumors ahead of the long weekend. Gold jumped about $9 on short covering with London and New York prices climbing, while silver also advanced.
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New York
UPI
Falkland Islands
Syria
Iraq
Zurich
London
New York Commodity Exchange
Comex
U.S
Milan
Paris
Tokyo
Frankfurt
Stocks rise as traders keep Easter optimism alive
UPI reports a pre Easter stock gain as the Dow climbs above to 842.94 with a 6.09 point rise and the S&P 500 up 0.76. NASDAQ up 1.24, NYSE volume over 60 million, Schlitz and Stroh tensions surface, Exxon and Mobil rise, and Braniff improves on debt talks.
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New York
UPI
New York Stock Exchange
Standard & Poor
Houston Industries
NYSE
American Motors
Reliance Group
Jos. Schlitz Brewing Co
Stroh Brewery
Stroh
Schlitz
Dome Petroleum
Gulf Canada
Horn & Hardart
National Association of Securities Dealers
Washington governor blocks Northern Tier pipeline permit
Gov. Spellman refused to issue a Washington state permit for the 2.3 billion Northern Tier crude oil line from Port Angeles to Clearbrook Minnesota citing environmental hazards to Puget Sound. Supporters plan a court challenge as other states and the federal government had approved the project.
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Olympia
Wash
UPI
John Spellman
Washington State
Pacific Coast
Midwest
Port Angeles
Clearbrook
Minn
Puget Sound
Northern Tier
U.S. Energy
James Edwards
Spellman
Northern Tier Pipeline Co
Washington
Drydock plan to save jobs at Sparrows Point yard
Bethlehem Steel submitted a 54.8 million floating drydock proposal to the Navy to avert layoffs at its Sparrows Point Maryland shipyard. The yard will run out of work by September without new contracts. the drydock would keep about 650 workers for 18 months as employment has fallen from 3,000 to under 1,809.
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Baltimore
UPI
Bethelehem Steel
Navy
Beth Steel
Sparrows Point
Bethsteel
Questions on IRAs
Washington based UPI report notes about 90 million potential IRA customers face confusion due to varying restrictions. The American Council of Life Insurance offers questions to compare IRA options including interest rate guarantees, calculation method, compounding, minimum investments, fees, annual charges, and early withdrawal penalties.
MENTIONED IN THIS ARTICLE
Washington
UPI
American Council of Life Insurance
Job worry and weather hurt March retail sales
Unemployment fears and severe March weather trimmed consumer spending across major chains. Sears, Kmart, JCPenney, Woolworth and Montgomery Ward reported mixed results while Federated and Dayton Hudson posted gains as analysts warned of continued soft demand and potential markdowns.
MENTIONED IN THIS ARTICLE
New York
UPI
Walter Loeb
Morgan Stanley Loeb
Sears Roebuck & Co
Kmart
J.C. Penney Co
F.W. Woolworth Co
Montgomery Ward
Herbert Christner
United States
Christner
Middle West
Kmart Loeb
Sears
Federated Department Stores Inc
Dayton Hudson Corp
Carter Hawley Hale
Loeb
Crackdown on toy chests urged by safety officials
Washington officials from the Consumer Product Safety Commission ordered a crackdown on toy chests whose lids can close suddenly after a review of related deaths. The plan focuses on a cheap spring hinge costing about 63 cents that would keep lids from falling and posing a risk to children.
MENTIONED IN THIS ARTICLE
Washington
UPI
Stuart Statler
Consumer Product Safety Commission
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