AT&T outlines plan to break up Bell System under 1984 deadline
AT&T filed a detailed breakup plan with a federal judge showing the 22 Bell System firms will form seven regional companies on January 1 1984. Stockholders will receive one share in each region for every 10 AT&T shares and retain AT&T stock in the surviving company. The plan shifts long distance and sales to AT&T, with regional firms handling local service and a central staff of about 8 800 to coordinate services.
MENTIONED IN THIS ARTICLE
Washington
American Telephone & Telegraph Co
Justice Department
At&t
Bell System
Giant Corporation
Virginia Dwyer
U.S
Harold H. Greene
Dwyer
Bell Companies
Bell
Howard Thenens
Greene
Western Electric Co
Bell Laboratories
William F. Baxter
IH reports record $822 million loss for year
International Harvester announced a fiscal year loss of $822 million ending October 31, down from 1981 results and below prior forecasts. The company posted $4.3 billion in sales with 43,290 employees, including 24,035 U.S. workers, and recorded $444 million restructuring costs and $394 million in discontinued operations losses.
MENTIONED IN THIS ARTICLE
Chicago
UPI
International Harvester
Harvester
United Auto Workers
Wisconsin Steel
U.S
Dow hits two month low as volume thins on a drift
The Dow Jones fell to 990.25 the lowest since October 8 as volume declined. Analysts warned of a possible pullback but some see potential for a year end rally. NYSE composite eased while Nasdaq slipped, with Allied and Kodak among most active issues.
MENTIONED IN THIS ARTICLE
New York
Vpi
Barry Berlin
Shearson
American Express
Standard & Poor
Allied Corp
Allied
Bendix
Blue Chip Eastman Kodak
Chrysler
Labor Dept reports weekly unemployment claims near record lows
The Labor Department said initial claims for unemployment benefits for the week ending Dec 4 totaled 590,000, 8,000 below expectations and near the 598,000 level that fed November's 10.8 percent national rate. Unadjusted claims rose 135,100 to 709,200 before seasonal adjustments. West Virginia posted the highest jobless rate at 10.3 percent.
MENTIONED IN THIS ARTICLE
Washington
UPI
Labor Department
Department
Steve McManus
McManus
West Virginia
Factory use hits all time low in November
U S manufacturers operated at 67.8 percent of capacity in November, the lowest on record. The drop followed a 0.4 percent fall in industrial production, signaling ongoing recession impacts with auto and business equipment sectors leading cutbacks. Capacity declines raise layoffs and unemployment.
MENTIONED IN THIS ARTICLE
Gazette Wire Services
Washington
U.S
Federal Reserve Board
Federal Reserve
U.S. trade deficit widens to 4.2 billion in third quarter
Commerce Department reports the current account shows a 4.2 billion deficit led by a surge in merchandise trade and a drop in farm exports. Oil imports rose while services trade barely improved, with the dollar strengthening and mystery funds hitting a quarterly high.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
Department
Anthony J. DiLullo
United States
Bureau of Economic Analysis
U.S
Mexico
Squeeze toy recalls issued by two makers over choking fears
The Consumer Product Safety Commission reports voluntary recalls of Popeye and Squeeze Me animal head toys amid choking death concerns. Crib Mates Inc recalls about 19,000 Popeye and Olive Oy! figures from Hollis New York sold in the last two years. Baby World Company and Grafton recall about 64,800 Squeeze Me animal heads from 1980 81 sold nationwide.
MENTIONED IN THIS ARTICLE
Washington
UPI
Consumer Product Safety Commission
Crib Mates Inc
Hollis
Baby World Company Inc
Great Neck
N.Y
Grafton
W.va
Winnebago earnings rise in first quarter
Winnebago Industries Inc reports first quarter net earnings of 2,044,000 or 8 cents a share on sales of 37,759,000 for the quarter ended November 27 1982. The prior year quarter earned 928,000 or 4 cents a share on sales of 27,877,000 with an extraordinary item reducing taxes by 219,000. President Ronald Haugen cites higher sales volume and stronger large motor home sales as the earnings boost.
MENTIONED IN THIS ARTICLE
Forest City
Winnebago Industries Inc
Winnebago Industries
Winnebago
Ronald Haugen
Treasury sells 5 billion four year notes at 10.10 percent
The Treasury Department sold five billion dollars in four year notes with an average yield of 10.10 percent. The issue matures December 31, 1986 and is issued December 31 with a 10 percent coupon, a rate more than two points below the previous offering.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury Department
Openings rise in Iowa despite national recession
Openings in Iowa grew 3 percent in 1982 according to the Iowa Development Commission. Industries announced 5,982 new jobs from Dec 1, 1981 to Nov 30, 1982, up from 5,806 the previous year.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa
Iowa Development Commission
Also Mentioned on This Page
American Telephone and Telegraph Co
Dow
IBM
American Telephone & Telegraph
Champion Home Builders
Wang Laboratories
Mphaemaebe
EMV
Akem
Ilemre
Bare
Reina
Money Market
Bank & Trust
Tame
FDIC
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