Stocks Reach 55th Record of 1987 In Trading Surge
The Dow Jones industrial average hit a new high at 2722.42 as the market rallied on dollar and bond strength. Volume on the NYSE reached 213.48 million shares while the Dow and S&P indices posted fresh records, with notable gains in Dow Chemical Ford and Merck and losses in IBM and Unisys amid mixed regional moves.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Treasury
New York Stock Exchange
Tors
Metz
Hugh Johnson
First Albany Corp
Philip Mortis
RJR Nabisco
NYSE
Northeast Utilities
Dow Chemical
Ford Motor
Merck
IBM
Unisys
Alcoa
Iowa
United Fire and Casualty
Banks of
Rockwell
Quaker
General Mls
Raytheon
Durable goods orders slip as autos glut weighs on demand
Durable goods orders fell 1.5 percent in July to $107.5 billion as automakers cut output to tame bloated inventories. Non-defense capital goods rose 1.6 percent signaling firmer later spending, while transportation equipment dropped 5.7 percent.
MENTIONED IN THIS ARTICLE
Warnington
Commerce Department
New York Mercantile Exchange
West Texas Intermediate
U.S
National Association of Realtors
Michael K. Evans
Washington
Commerce
Robert Ortner
Adding names to stock certificates for estate planning
A couple asks if adding their three sons to stock certificates avoids probate and how to split three stocks. Expert advises joint tenancy with survivorship, one third per son per stock, and consulting a lawyer for structure and payout rules. Also outlines a phased investment plan and cautions on real estate.
Union and Eagle clash over wage ruling in Peoria
A union official said an arbitrator ruled in favor of Eagle Food Co workers who protested a 7 percent wage cut imposed nearly six months ago. The decision reportedly orders retroactive back pay to March 1, while Lucky Stores denies any ruling exists.
MENTIONED IN THIS ARTICLE
Peoria, II
Eagle Food Co
Joe Taylor
United Food and Commercial Workers International Union
Peoria Journal Star
Taylor
Kenneth W. Cope
Lucky Stores Inc
Dublin
Calif
Deere posts strong third quarter turnaround despite losses in core ops
Deere & Co reports third fiscal quarter ended July 31 net income of 255 million dollars or 38 cents a share, reversing a year earlier loss. Manufacturing and marketing posted a 1 million loss while finance and insurance profits lift overall earnings. Nine months show impact from a U.S. factory work stoppage and prior quarter losses.
MENTIONED IN THIS ARTICLE
Moline
Deere & Co
Deere
U.S
Deere starts mail order with John Deere Catalog Co
Deere & Co launches John Deere Catalog Co a new subsidiary in Moline to mail a 32 page four color catalog featuring 126 items from garden sculptures to rope hammocks and gloves. The first catalog mails Friday with orders filled at Deere's distribution center in Moline and a Christmas edition planned for buyers.
MENTIONED IN THIS ARTICLE
Moline, Ill
Deere & Co
John Deere Catalog Co
Jack Allgaier
Quad-City Times
Deere
Consumer Products
Moline
Northwestern Bell to build Omaha data center
Northwestern Bell plans a 500000 square foot data processing center in the Omaha area costing about 50 million dollars with 140 million dollars of equipment. The move will consolidate five state computer operations and create 150 Nebraska jobs while closing centers in Minneapolis Des Moines. Half of Des Moines and Minneapolis staff will move to Omaha and the phaseout aims to cut costs by about 10 million annually with completion by early 1989. A site committee is selecting an Omaha location.
MENTIONED IN THIS ARTICLE
Omaha, Neb
Northwestern Bell
Omaha Area
Ken Power
Nebraska
Bell
Minneapolis
North Dakota
South Dakota
Des Moines
Power
Omaha
Jim Murphy
Des Moines Center
Pension funds gain as stock market fuels investment earnings
A Census Bureau analysis shows state and local government retirement systems rely on investment earnings for a majority of receipts. In fiscal 1986 earnings reached 55.5 percent, or about 48.9 billion of 88.1 billion total, up from 48.6 percent in 1985, with contributions from employees and governments making up the rest.
MENTIONED IN THIS ARTICLE
Washinuiun
Census Bureau
Henry Wulf
Vic Miller
National Conference of Public Employee Retirement Systems
Eagen
Small Business Climate Dips. Reichhold Signals Buyout Rise
The American Express Small Business Climate Index fell 0.2 percent in the second quarter due to higher rates and costs and weak demand. Reichhold Chemicals accepts a sweetened 60 per share bid from Dainippon Ink & Chemicals valuing the deal at about 600 million dollars, with directors recommending tender. MTM Entertainment plans a 4 million share public offering at 25 to 28 dollars per share. In Cincinnati the magistrate backs GE’s 234 thousand dollar settlement over falsified vouchers on an Air Force contract, pending final court approval.
MENTIONED IN THIS ARTICLE
New York
American Express
Mnew Run (Or
Reichhold Chemicals Inc
Japan
Dainippon Inke & Chemicals Inc
Reichhold
Dainippon
Los Angeles
MTM Entertainment Inc
Mary Tyler Moore
Securities and Exchange Commission
MTM
Also Mentioned on This Page
Igher
Ef Metz
Oppenheimer & Co
Lawrence Chimerine
Wharton Econometrics
Investment Couselor
Treasury Notes
Sue
Susan Bondy
North America
Cityline
Elanties
Joe
Dave Jones
Ol 'Uart-James
Document Destruction Service
V.u. Box
Ceaar Rapi
Eagle
Allgaier
Northwestern Bell Plans
Omaha Computer Center
FDIC
FSLIC
Tes
SCI
Securities Corporation of Iowa
Second Avenue
Cedar Rapids
Iowa City
SIPC
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