Star Manufacturing sale to Robertson for over 30 million
51a Star Manufacturing Co. of Oklahoma City with a Monticello plant agrees to be sold to H.H. Robertson of Pittsburgh for more than $30 million. Star makes pre engineered structures while Robertson, a $425 million annual sales, 5000 employee builder of nonresidential products, will acquire Star with a signed contract.
MENTIONED IN THIS ARTICLE
Star Manufacturing Co
Oklahoma City
Monticello
H.H. Robertson
Pittsburgh
Star
Robertson
Bank executive named to Iowa Student Loan board
James H. Struve of City National Bank of Cedar Rapids is reappointed to the Iowa Student Loan Liquidity Corp board and re-elected president. Gov. Terry Branstad announced the appointment for the Des Moines based secondary market for student loans, which has directed over $170 million into Iowa since 1979.
MENTIONED IN THIS ARTICLE
James H. Struve
City National Bank of
Cedar Rapids
Iowa Student Loan Liquidity Corp
Terry Branstad
Des Moines
Iowa
Consumer Credit Grows Fastest in Five Months
The Federal Reserve reported that consumer credit rose by 5.4 billion dollars more in June than Americans paid off. The annual growth rate reached 10.2 percent, up from 5.7 percent in May and 7.3 percent in April, marking the sharpest rise since January’s 12.2 percent.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Consumer Credit
GM and National Car Rental discuss minority stake deal
GM and National Car Rental officials said negotiations aim for GM to acquire a minority equity share in National. GM spokesman William Winters called it a good investment. PaineWebber Group said it will sell its stake in National to Fidelco Capital Group, a partner in the 1986 buyout from Household International.
MENTIONED IN THIS ARTICLE
General Motors Corp
National Car Rental
National
William Winters
PaineWebber Group Inc
Fidelco Capital Group
Household International Inc
Banks to Test Stamp Sales via ATMs in Seattle Area
Postmaster General Anthony M. Frank announces a year long trial to sell stamps through bank ATMs in the Seattle metropolitan area. Seattle First National Bank, SeaFirst, cooperates by hosting the machines in postal lobbies during the test.
MENTIONED IN THIS ARTICLE
Anthony M. Frank
Seattle First National Bank
SeaFirst
Seattle
Payless to Lay Off 750, Close 10 Stores After Buyout
Payless Payless Cashways Inc will lay off about 750 workers and close 10 stores this year as a result of a $909 million management-led buy-out. The buy-out, at $27 a share, was approved by about 97.4 percent of shares, making the company private.
MENTIONED IN THIS ARTICLE
Payless Cashways Inc
Iowa
Payless
Agee Named Head of Morrison Knudsen Boise Firm
Agee William M agee takes over as chairman and chief executive of Morrison Knudsen Corp in Boise Idaho after a long stint on the board and succeeding William Deasy who stays as president Agee is 50 and replaces Deasy 51 who remains as president Morrison Knudsen is a major engineering and construction company
MENTIONED IN THIS ARTICLE
William M. Agee
Bendix Corp
Morrison Knudsen Corp
Boise
Idaho
Agee
William Deasy
Morrison Knudsen
Ford Recalls 15300 Ambulances for Heater Hose Flaws
Ford Motor Co. recalls 15,300 ambulances built on 1983 to 1987 Econoline E-250 and E-350 chassis to replace faulty engine heater hoses that could burst or leak and cause a fire. Ford also says to replace radiator caps and mufflers on mid 1985 to 1987 units with dual thermactor air pumps.
MENTIONED IN THIS ARTICLE
Ford Motor Co
Ford
Chevrolet to replace Nova with new Prizm in spring
The Oakland Tribune reports Chevrolet will cease Nova production next spring and introduce the Prizm. Spokesman Ralph Kramer says the new sportier model will be built at the NUMMI plant in Fremont, a GM Toyota joint venture, with the official announcement due soon.
MENTIONED IN THIS ARTICLE
Chevrolet
Oakland
Calif
Tribune
Ralph Kramer
The
United Motor Manufacturing Inc
Fremont
General Motors Corp
Toyota
Kramer
Iowa credit card rates ease as more lenders report
State Treasurer Michael Fitzgerald notes a drop in APRs across banks and credit unions as more institutions report in the semi annual disclosure. Highest rates appear at First Interstate Banks and Clinton Federal Savings. lowest at Lincoln Savings Bank and Meredith Credit Union. Affinity cards rise, while AmEx offers no interest but a $45 fee.
MENTIONED IN THIS ARTICLE
Harrison Weber
Iowa Newspaper Association
Des Moines
Michael Fitzgerald
Motor Club of
Iowa
Fitzgerald
First Interstate
Lincoln Savings Bank
Reinbeck
Iowa Savings and Loans
Clinton Federal Savings and Loan
Clinton and
DeWitt
Home Plan Savings and Loan
Johnston
AmeriTrust Co
Cleveland
Peterson, Harned, von Maur
Davenport
Iowa Aaa Personal Credit
Spirit Lake and
Spence Credit Union
Spencer
Meredith Credit Union
West Des Moines
Associates National Bank
Pleasanton
Calif
American Express
Salt Lake City
Utah
State Capitol
Varied Industries
SSA expands lines for personalized benefit estimates
Social Security Administration adds 100 phone lines to handle high demand for personal earnings and benefit estimate statements. Commissioner Dorcas Hardy notes capacity rising to 15 000 calls per hour and 24 hour toll free access.
MENTIONED IN THIS ARTICLE
Washington
Social Security Administration
Social Security
Dorcas R. Hardy
Baltimore
Hardy
Ates
Quaker Oats posts record year and quarterly gains
Quaker Oats Co. reports a 32 percent rise in net income for the last quarter and a record fiscal year ended June 30. Net income was 94.1 million dollars in Q4 and 255.7 million for the year, with sales rising to 1.49 billion and 5.33 billion respectively.
MENTIONED IN THIS ARTICLE
Chicago
Quaker Oats Co
Quaker
U.S
Cedar Rapids
Fisher-Price
Gazette Teleconnect form CITYLINE joint information venture
The Gazette and Teleconnect Directory Co announce a CITYLINE joint venture to expand information services in Cedar Rapids and Iowa City. The service will use audiotex and fiber optic links, offering callers timely local reports with free Iowa City access via Teleconnect.
MENTIONED IN THIS ARTICLE
Cityline
Cedar Rapids
Gazette and Teleconnect Directory Co
Gazette- Teleconnect Cityline
Iowa City
Midwest
Gazette
Teleconnect
John Beaver
Teleconnect Directory Co
Joe Hladky III
Stocks slide as rate fears weigh on market
The Dow fell 7.47 to 2119.13 as weak trading amid continued strong job growth kept rates higher. NYSE volume reached 113.40 million shares with 566 advancing, 846 declining, and 538 unchanged. Eastern Iowa stocks showed mixed results with Quaker Oats down and Raytheon down slightly, while GM and AT&T rose modestly.
MENTIONED IN THIS ARTICLE
Iowa
Quaker Oats
Raytheon
Quaker
Ford Motor
General Electric
International Business Machines
American Express
General Motors
American Telephone & Telegraph
Bargaining Dims After Short Caterpillar Talks
In Bridgeton Missouri negotiators for the United Auto Workers outlined proposals for a national contract with Caterpillar Inc. and adjourned for two weeks while local talks begin. The session ended in under an hour.
Doskocil Wins Round In Wilson Tender Fight
A Delaware Chancery Court judge issues a temporary restraining order preventing Wilson Foods Corp from issuing new convertible exchangeable preferred stock. Doskocil Cos of Hutchinson Kansas claims the stock would dilute Wilson common shares as it seeks to buy Wilson at 12.50 a share total about 115 million for 90.4 percent of the company. Wilson sues alleging improper disclosures in the tender materials and seeks to halt the offer until proper disclosures are made. Cedar Rapids brokers note rising stock interest though Wilson closed Friday near 13 dollars. Wilson formerly ran a Cedar Rapids pork plant now owned by Farmstead Foods still a major Wilson supplier.
MENTIONED IN THIS ARTICLE
Delaware
Wilson Foods Corp
Doskocil Cos
Hutchinson
Kan
Wilson
Doskocil
Deskocil
Delaware Chancery Court
Cedar Rapids
Farmstead Foods
Wilson Foods
Also Mentioned on This Page
Struve
Consumer Credit Up
National Trades Owners
Chevy
Nova
Associated Press and Gazette
Oelwein
Marion
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