Caterpillar outlines 20 percent cost cut plan in 1986
Caterpillar president Robert E. Gilmore and chairman Lee L. Morgan revealed a plan to trim costs by 20 percent by 1986. The move focuses on global sourcing, inventory reduction, and shrinking white collar staff while stressing no plant closings in East Peoria Mapleton and Mossville but considering outside suppliers and overseas plants. Local UAW leader Jack Bremer warns of job loss risks amid mass meeting with 500 leaders.
MENTIONED IN THIS ARTICLE
Peoria, Ill
United Auto Workers Union
Caterpillar Tractor Co
Jack Bremer
UAW
Caterpillar
Bremer
Robert E. Gilmore
Lee L. Morgan
Gilmore
Frank Manfredi
Dataquest Inc
Alexander M. Blanton
Merrill Lynch Pierce Fenner and Smith
New York
Blanton
Morgan
East Peoria
Mapleton
Mossville
Cooling costs lag normal year despite August heat
The AP reports that Americans spent about 1.28 billion dollars on air conditioning in the first two weeks of August, with costs 12 percent above normal nationally. Year-to-date cooling costs remain 1 percent below normal at 6.01 billion, aided by a cool spring, as NOAA notes regional variances across the United States.
MENTIONED IN THIS ARTICLE
Washington
National Oceanic and Atmospheric Administration
Pacific
Oregon
California
New England
Mid-Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Harvester to Ask Lenders for Third Debt Plan
International Harvester plans to request a third debt restructuring in as many years to gain flexibility amid a hoped-for farm equipment upturn. The plan, reported by the Wall Street Journal, would convert portions of the loan into equity, pay cash and convert remaining debt, with a $100 million dividend to aid debt repayment. Analysts say IH’s fate could reshape the troubled farm equipment industry.
MENTIONED IN THIS ARTICLE
Chicago
International Harvester Co
Harvester
Wall Street Journal
Bill Greenhill
The
Nestle loses Toll House trademark in cookie language ruling
U.S. District Judge M Joseph Blumenfeld ruled Toll House cookies have become a generic term, ending Nestle's bid to claim exclusive rights to the name. Nestle had sued Saccone's Toll House restaurant in Whitman Mass and Chester's Market in East Windsor amid plans to market Toll House cookies.
MENTIONED IN THIS ARTICLE
Hartford
Blumenfeld
Nestle
Saccone
Toll House
Whitman
Mass
Nestie Company
Ruth Wakefield
Chester’s
East Windsor
Stocks rally weak after mixed Wall Street slide
New York stocks ended a two day decline with a small rally but breadth remained weak. Dow rose to 1185.06 as volume topped 70 million shares while many blue chips fell or held, and the NASDAQ and S&P indices declined.
MENTIONED IN THIS ARTICLE
NEW York
indi __cators
New York Stock Exchange
Safe deposit boxes remain secure despite bank failures
Despite rising bank failures, FDIC and FSLIC assure safe content access of safe deposit boxes. No reported losses from box contents due to closures or mergers. read contracts, keep inventory, and verify protection limits with your institution. In 1983 through July, FDIC-insured bank failures reached 32, with most from loan losses.
MENTIONED IN THIS ARTICLE
Federal Deposit Insurance Corp
Federal Savings & Loan Insurance Corp
S&l
FDIC
FSLIC
Controller of Currency
S&ls
New York State
Jobless Claims Rise for Second Week Amid Strike Delay
U S unemployment figures show first-time claims up 46,000 to 427,000 for the week ended Aug 13, suggesting possible leveling after a drop from 10.8 percent to 9.5 percent. Labor official cites Consolidated Edison strike as a factor. analysts, including Michael K. Evans, warn against overinterpreting one week’s swing.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Consolidated Edison Co
New York
Michael K. Evans
Evans Economics
U S House Resales Dip 4 Percent In July
The National Association of Realtors reports single family existing home resales fell 4.4 percent in July to an annual rate of 2.81 million, from 2.94 million the prior month, while prices rose to a median of 71,600 dollars.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
Steel firms announce 7 percent price hike on sheet and strip
U S Steel Bethlehem Steel and Republic Steel say they will lift published prices on sheet and strip steel about 7 percent effective Sept 1. National Steel does not plan an immediate base price increase. Prices target cold rolled sheet at 563 dollars per ton and zinc coated galvanized at 606 dollars per ton.
MENTIONED IN THIS ARTICLE
Pittsburgh
U.S. Steel Corp
U.S. Steel
Bethhelem Steel Corp
Republic Steel Corp
Cleveland
Ohio
Jean Corbetts
National Steel Corp
American Metal Market
Bethlehem
Also Mentioned on This Page
U.S
Dean Witter Reynolds Inc
Fuji
Japan
Kodak
Sen
John
American Stock Exchange
Sylvia Porter
Iversal Press Syndicate
Jack Carlson
Association
Commerce Department
Cedar Rapids
Marion
Iowa City
Anamosa
Elsewhere
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