Dow closes near record as rally boosts major indices
The Dow Jones average rose 20.33 to 1,087.75, its second highest level, as optimism about stable interest rates and oil prices spurred broad buying. The NYSE index hit 85.10, S&P 500 up 2.59 to 147.50, and NASDAQ up 3.39 to 254.77 amid strong volume and institutional activity.
MENTIONED IN THIS ARTICLE
New York
UPI
New York Stock Exchange
Standard & Poor
Michael Metz
Oppenheimer & Co
Trude Latimer
Evans & Co
Federal Reserve
New IRS tip reporting rules for restaurants outlined
A UPI summary explains the Tax Equity and Fiscal Responsibility Act of 1982 requires bars and restaurants with 10 or more employees to allocate tip income if tips fall below 8 percent of gross sales. Employers file annual reports with IRS form 8027 and provide employees a W-2 with allocated tip income.
MENTIONED IN THIS ARTICLE
Washington
UPI
Internal Revenue Service
Tax Equity and Fiscal Responsibility
IRS
Standard Oil weighs moving Illinois HQ to Sunbelt
Standard Oil of Indiana chief John E. Swearingen says the firm should seriously consider shifting its headquarters and about 8,000 Illinois jobs to the Sunbelt due to Illinois business taxes. He notes Illinois taxes profits earned outside the state and cites plans’ potential impact on 60,000 worldwide employees, while denying any definite move to Tulsa.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Standard Oil of
Indiana
John E. Swearingen
Illinois
Sunbelt
Chicago Sun-Times
Swearingen
Standard of Indiana
U.S
Standard Oil
Lake Michigan
Tulsa
Okla
Houston
Texas
Oklahoma
Wyoming
Seasonal layoff at Wilson Foods plant in Cedar Rapids
Cedar Rapids Wilson Foods plant faces a seasonal lull as employment drops from a peak of 2,000 to about 1,800. Plant manager Forrest Mykleby cites completed Easter ham prep, reduced plant speed, and ham canning layoffs. Hog shortages push prices up, affecting farmers and consumers.
MENTIONED IN THIS ARTICLE
Wilson Foods
Cedar Rapids
Forrest Mykleby
the Gazette Thursday
Mykleby
Retail sales inch up in January as auto slump weighs on recovery
UPI reports Commerce Department data showing January retail sales rose 0.1 percent to 91.5 billion, with non auto sales up 0.8 percent excluding autos. Auto purchases fell 2.75 percent for January, while building materials climbed 6.3 percent and general merchandise stores rose 0.9 percent as analysts called the modest gain a sign of a gradual US recovery.
MENTIONED IN THIS ARTICLE
Washington
UPI
America
Commerce Department
Sandra Shaber
Chase Econometrics
Bala Cynwyd
Commerce
Malcolm Baldrige
Mid-Continent loses RC brands gains 2 others
Mid-Continent Bottlers Cedar Rapids will drop three RC brands on April 1 and add two new lines by April 16. It will stop distributing Royal Crown Cola in Cedar Rapids area to focus on Seven-Up Like and test market Pepper Free from Dr. Pepper, while retaining RC products in other regions. Universal Foods expects promo support to lift volumes back by Oct 1.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Royal Crown Cola
Seven-Up Co
Mid-Continent
Des Moines
Universal Foods Corp
Milwaukee
Royal Crown
Atlanta
Wayne Caskey
Universal
Seven-Up
Mid- Continent
Caskey
Saginaw
Mich
Jackson, Miss
St. Louis
Omaha
Kansas City
George Horrigan
Horrigan
Perrier
A&w
All-American Bottling Corp
Coral Gables
Fla
All-American
Nash Finch reports earnings for year and quarter
Nash Finch Co. posts fourth quarter op revenue of 264 342 thousand and net income of 4 376 thousand, per share 1 30, with full year 1982 op revenue 1 120 101 thousand and net income 11 559 thousand, per share 3 40. The Cedar Rapids distribution center and eastern Iowa store network are noted.
MENTIONED IN THIS ARTICLE
Op.Rev
Nash Finch Co
Nash Finch Co., A Diversified Foods
Cedar Rapids
Iowa
United Fire declares quarterly dividend. ADM ends Lane offer
United Fire and Casualty Co of Cedar Rapids says a 22 cent quarterly dividend will be paid March 15 to record holders as of March 1. Archer Daniels Midland Co will not extend its bid to Lane Processing Inc for about 1.75 million Valmac Industries shares. the signed letter of intent approved by a bankruptcy court expired February 1.
MENTIONED IN THIS ARTICLE
United Fire & Casualty Co
Cedar Rapids
Decatur
Archer Daniels Midland Co
Lane Processing Inc
Valmac Industries
Lane
ADM
Farmland Foods Plant in Iowa Falls to Close for Weeks
AP reports Farmland Foods in Iowa Falls will shut hog killing and processing operations on Monday as an economy measure. Plant manager Red Tierney says the closure will last about 21 to 28 days and idles 340 workers.
MENTIONED IN THIS ARTICLE
Iowa Falls
Farmland Foods
Red Tierney
Tierney
Also Mentioned on This Page
Dow Industrials
Paul Volcker
Exxon
Mesa Offshore Trust
Phillips Petroleum
Mobil
Atlantic Richfield
California Standard
Ohio Standard
Indiana Standard
Getty
Owens-Corning-Fiberglas
American Express
Electric
Hewlett-Packard
Honeywell
IBM
Motorola
NCR
Texas Instruments
Mesta
Pittsburgh
Aetna Life & Casualty
Securities and Exchange Commission
Mary Kay Cosmetics
Wang Laboratories
Roma Corp
Lloyd’s Electronics
National Association of Securities Dealers
OTC
Western Maryland Railway
Western Maryland Co
Naperville
Oak Brook
Joliet
Lombard
Wilson
Nash Finch
Sylvia Porter
tyoe _niversal Press
In the Gazette
IRA
Keogh
Porter
Treasury
The
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!