Kodak top executives take 1.1 million pay cut in 1989
Eastman Kodak Co said its top officers reduced pay by 1.1 million as part of a cost cutting drive. Chairman and CEO Colby H. Chandler said the cut consisted of incentive awards for 1987 and 1988 that he and President Kay Whitmore and former Vice Chairman J. Phillip Samper would have been eligible to receive.
MENTIONED IN THIS ARTICLE
Eastman Kodak Co
Colby H. Chandler
Kodak
Kay R. Whitmore
J. Phillip Samper
Two-Year Treasury Yields Rise in Wednesday Auction
Yields on two year Treasury notes climbed to the highest level since May as the average yield reached 8.50 percent from 8.21 percent on January 24. The notes carry an 8.5 percent coupon with $10,000 face value selling at par.
MENTIONED IN THIS ARTICLE
Treasury
Icahn to shrink TWA by selling jets amid pay-cut push
Carl Icahn, owner of Trans World Airlines, pledges to shrink the carrier if pilots reject a 10 percent pay cut. He plans to sell two Boeing 747s and sell and lease back six Boeing 767s, potentially adding about $350 million to TWA's coffers, while considering more route sales.
MENTIONED IN THIS ARTICLE
Carl Icahn
Trans World Airlines
Icahn
TWA
Jaguar recalls 1988 89 cars over brake problem and cruise control
Jaguar recalls more than 38,000 US sold cars from the 1988 and 1989 model years for brake issues and 31,835 XJ12 and XJ-S models from 1979 and 1982 to 1990 for a sticky cruise control. Owners notified by mail. repairs free.
MENTIONED IN THIS ARTICLE
Jaguar
United States
Chevrolet Incentives Raised on 1989 90 Camaro Cavalier
Chevrolet Motor Division doubles the incentive on 1989 90 Camaro and Cavalier to 1000 dollars through May 2. Astro rebates drop from 750 to 500 dollars for deliveries March 8 through May 2.
MENTIONED IN THIS ARTICLE
Chevrolet Motor Division
Apple Announces 3 Percent Layoffs Amid Slow PC Market
Apple Computer Inc. will lay off about 400 workers, three percent of its workforce, as chairman John Sculley cites a slowing U.S. personal computer market that may grow no more than nine percent in 1990. Analysts blame rising customer dissatisfaction, sagging profits, management turmoil, and weak morale.
MENTIONED IN THIS ARTICLE
Apple Computer Inc
John Sculley
Apple
U.S
Digital cuts potential severance to trim DEC payroll
Digital Equipment Corp. may expand its voluntary severance program to reduce staff and cut costs. The company also reported minor bugs in its VAX 9000 mainframe, not expected to affect sales significantly.
MENTIONED IN THIS ARTICLE
Digital Equipment Corp
Sony to Start U.S. Chip Plant From AMD Buy
Sony Corp will produce semiconductor chips outside Japan for the first time at a San Antonio plant bought from Advanced Micro Devices. Sony paid 55 million dollars for the Sunnyvale based AMD facility, hiring 650 workers with potential further hiring this year.
MENTIONED IN THIS ARTICLE
Sony Corp
Japan
Sony
U.S
Advanced Micro Devices Inc
San Antonio
Sunnyvale
Calif
AMD
Harnischfeger Reports Strong First Quarter Results
Harnischfeger Industries, once running a Cedar Rapids plant, announced first quarter results through January 31 with sales up 32 percent to 419 million and net income up 42 percent to 17.6 million or 54 cents per share.
MENTIONED IN THIS ARTICLE
Harnischfeger Industries
Cedar Rapids
TI Improves Memory Capacity with 16 Million Bit Chip
Texas Instruments says its Dallas facility produced the first 16 million bit memory device last week, a milestone built on a trend toward larger memory chips. Last year vendors began shipping 4 million bit memory chips now appearing in products.
MENTIONED IN THIS ARTICLE
Texas Instruments Inc
Dallas
GM transfers 57138 acres of Louisiana timberland
General Motors Corp. will transfer more than 57,138 acres of farmland wetland and hardwood timberland in Louisiana to two conservation groups. The land has been owned by GM through its Fisher Lumber Corp. subsidiary since 1926.
MENTIONED IN THIS ARTICLE
General Motors Corp
Louisiana
Fisher Lumber Corp
Ertl Seeks Growth Amid Toy Industry Shifts
Ertl in Dyersville eyes growth after a strong 1989 as Batman toys and Dick Tracy lines loom. Gary Roop notes diversification across tractor kits and diecast military items helps weather slump. expects continued momentum with new releases tied to upcoming Dick Tracy movie and other product lines.
MENTIONED IN THIS ARTICLE
Ertl Toy Company
Dyersville
Gary Roop
Roop
New York
Ertl
Dick Tracy
Stocks tumble at open then steady market recovers
The Dow Jones fell 13.29 to 2 583.56 as early declines reversed with bargain-hunter buying. The Nasdaq and NYSE shares showed more losers than gainers, with volume around 159 million on the NYSE and the Tokyo market dropping sharply on computerized selling. The CPI rose 1.1 percent in January, suggesting higher rates and limiting Fed easing.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Tokyo Stock Exchange
Iowa
Tokyo
U.S
Labor Department
Federal Reserve
Philip Morris
Wilshire Associates
Four firms form Sky Cable in $1 billion satellite plan
Four media giants General Electric NBC News Corp Cablevision and Hughes Communications join to create Sky Cable a 1 billion project delivering 108 channels via high power satellites to home dishes. Launch planned for 1993 with rural reach and digital HD delivery announced.
MENTIONED IN THIS ARTICLE
New York
Sky Cable
Drexel creditors seek probe of year end bonuses
Creditors led by First City Bancorp demand a Bankrupt cy Court investigation into as much as 350 million dollars in bonuses paid days before Drexel Burnham Lambert collapsed. They seek details from executives during bankruptcy proceedings while Congress also plans scrutiny.
MENTIONED IN THIS ARTICLE
New York
Drexel Burnham Lambert
Drexel
William G. Schopf Jr
First City Bancorp. of Texas Inc
Schopf
Edward J. Markey
D-Mass
House Energy and Commerce Committee
New York asks probe of shuttle fare hikes
New York consumer protection chief calls for federal inquiries into rising air shuttle fares in the Northeast. Richard Kessel says Trump and Pan Am shuttles gouge captive riders on New York to Boston and Washington routes with large increases since 1986.
MENTIONED IN THIS ARTICLE
New York
Northeast
Richard Kessel
Consumer Protection Board
Trump
Pan Am
Boston
Washington
Kessel
Moon
Trump Shuttle
New York-Washington
Donald Trump
Eastern Airlines
McGraw Hill to Publish Russian Edition of Business Week
Business Week magazine will publish a Russian language edition in the Soviet Union. A spokesman said a letter of intent was signed with a unit of the State Committee for Publishing Printing and Book Trade. It will be the first major Western business magazine in the USSR.
MENTIONED IN THIS ARTICLE
New York
McGraw- Hill Inc
Business Week
Soviet Union
State Committee For Publishing, Printing and
Sale Hearing Set for Iowa National Mutual Shell
A court hearing is scheduled for March 1 in Des Moines to decide converting Iowa National Mutual Insurance Co to stock property and selling its corporate entity and licenses as part of liquidation. Proceeds would go to creditors. objections must be filed five days before the hearing. The firm now exists only as a shell with no policies or property and a small staff.
MENTIONED IN THIS ARTICLE
Iowa National Mutual Insurance Co
Cedar Rapids
Polk County District Court
Des Moines
Iowa National
Also Mentioned on This Page
Jaguars
Chevy
U.S. Plant
Bruce Fishwild
Gazette Financial Editor
Dukes of Hazzard
Mexico
Orient
Quaker
Fisher-Price Toy
Raytheon
General Mills
Square D
American Telephone & Telegraph
American Express
IBM
General Motors
General Electric
General Electric Co
National Broadcasting Co
Rupert Murdoch
News Corp. Ltd
Cablevision Systems
U.S.S.R
Iowa National ‘Shell
Don
Don Pfeifer
ERA
Heritage Realtors
Brenton Financial Center
Iowa City
Oelwein
Marion
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