Coleco ceases Adam computer line amid 1984 losses
Coleco Industries said it will stop producing Adam home computers and sell remaining inventory, forecasting large losses for the fourth quarter and all of 1984. The firm expects 1984 revenues above 800 million with 80 percent from toys, after a 13.4 million loss in the first nine months. An unnamed retail buyer purchased Adam inventory with monthly 1985 payments and a 1986 settlement, while Coleco continues software development and support for Adam owners.
MENTIONED IN THIS ARTICLE
West Hartford
Adam Home
Coleco
Barbara Wruck
Wrack
Adam Home Computers
Affordability Index Shows Modest Gain for Homes in November
The National Association of Realtors reports November affordability at 85.6 with 12.89 percent mortgage rates. Median family income is 26157 enabling an 80 percent loan on 62100. About 35 percent of homes sell below 60000 and half exceed 72500. The typical family falls $4400 short of qualifying for an 80 percent loan on a 72500 home.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
Kodak holds line on 1985 prices for Kodakolor and discs
Eastman Kodak Co kept 1985 suggested list prices steady for its top selling Kodakolor 35mm and disc formats. Some amateur films will rise 4 to 7 percent on orders after January 25. Overall consumer film prices edge up about 1 percent based on an average weighted by brand sales.
MENTIONED IN THIS ARTICLE
Rochester
N.Y
Eastman Kodak Co
Kodak
Henry Kaska
Kaska
AT&T cuts Hawaii mainland long distance rates
AT&T announced new lower long distance rates between Hawaii and the mainland taking effect January 1. The first minute rate stays the same for most routes while minutes after the first are reduced by 2 cents for calls over 3,000 miles. A five minute day call from New York to Honolulu drops to 2.74 dollars. Night and weekend discounts rise to 60 percent from 55 percent.
MENTIONED IN THIS ARTICLE
New York
Hawaii
American Telephone & Telegraph Corp
At&t
Honolulu
College urges move of White Farm to Charles City Iowa
North Iowa Area Community College joined a push to relocate White Farm Equipment to Charles City. The Mason City college offered 500000 to 900000 depending on jobs and wages. White Farm would consolidate Hopkins Minnesota and South Bend Indiana plants with its Charles City tractor plant, aided by 9.5 million in industrial development bonds.
MENTIONED IN THIS ARTICLE
Charles City
White
Iowa City
Construction spending rises nationwide while Cedar Rapids dips
National construction spending increases 1.1 percent in November to 322.2 billion as non residential gains offset a residential decline. Cedar Rapids spending falls 3.4 percent to 2.338 million with Linn County up 18.2 percent, aided by a $1.3 million fire station project.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Commerce Department
Cedar Rapids
Linn County
Central Fire Station
Robert Ortner
Moving expense tax relief expands deductions for movers
The Treasury proposes raising indirect moving cost deductions to 10 000 from 3 000 and 3 000 from 1 500 to aid workers on relocations. It cites inflation and rising 10 000 indirect costs as justification and notes direct moving costs remain deductible if reasonable. A separate Tax Court case limits deductions for travel by hockey players and treats a taxpayer home as the team city. A widow may roll over her deceased spouse’s IRA with IRS limits, and a Pittsburgh couple fail to deduct a stolen ring loss or hair care costs as non deductible personal expenses.
MENTIONED IN THIS ARTICLE
Washington
Treasury Department
Treasury
Pittsburgh
Dana E. Totin
Totins
IRS
Totin
Allegheny Airlines
Tax Court
Wall Street Opens 1985 Cautious After Yearend Selloff
Stocks fell in light trading as 1985 began with caution amid rising bond rates. The Dow slipped 12.70 to 1,198.87 while NYSE volume dipped to 67.82 million shares. Analysts noted yearend tax selling ended and traders returned, but uncertainty lingered about profits in 1985.
MENTIONED IN THIS ARTICLE
NEW York
Wall Street
New York Stock Exchange
Castle elected president of Donaldson, Lufkin and Jenrette
John K. Castle of Marion is named president and chief executive officer of the New York Wall Street firm Donaldson, Lufkin and Jenrette, succeeding Richard H. Jenrette who becomes chairman. Castle has led the firm as president and COO since 1979 and is credited with steady earnings growth and profitability.
MENTIONED IN THIS ARTICLE
New York
John K. Castle
Marion
Donaldson, Lufkin and Jenrette
Wall Street
Castle
Richard H. Jenrette
Jenrette
Equitable Life Assurance Society
United States
Equitable
DLJ
Stockholders fare better in 1984 despite fewer dividend boosts
Standard & Poor's reports 1984 saw 2,267 dividend actions up, 5 percent from 1983, and 181 cuts or omissions down 22 percent. Arnie Kaufman notes profits and cash flow rose but fear of recession led firms to hoard cash.
MENTIONED IN THIS ARTICLE
New York
Standard & Poor's Corp
Business, Financial and Investment Reporting Company
Arnie Kaufman
Outlook
Standard & Poor's
Kaufman
Oil prices sink to five year low as OPEC drift continues
Prices for crude and refined fuels plunged on the New York Mercantile Exchange after OPEC ended its Geneva meeting without clear action. Analysts say lack of progress to stabilize markets drove oil below 1979 lows, while currencies and gold also slid.
MENTIONED IN THIS ARTICLE
NEW York
New York Mercantile Exchange
OPEC
Edward Dellamonte
Prudential Bache Securities Inc
West Texas
U.S
Mercantile Exchange
Mary Ann Matlock
Exchange
Geneva
William Randol
First Boston Corp
Organization of Petroleum Exporting Countries
Switzerland
Nigeria
Algeria
Also Mentioned on This Page
Adam Computer
C.R
Michael Sumichrast
The
National Association of Home Builders
Sumichrast
Jim Luther
Garnet E. Bailey
Detroit Red Wings
St. Louis Blues
Bailey
Detroit
St. Louis
Baileys
Red Wings
Blues
Lynnfield
Mass
Massachusetts
Internal Revenue Service
Tax
Merrill Lynch
E.F. Hutton
First Boston
Phibro-Salomon
Harvard Business School
E.B. Castle
Joseph Krob
Solon
Clyo
King Castle
Bo Peep
Skogman Ralston
Wes Ralst
Skogman Ralston Insurance Inc
First Avenue
Iowa
33Rd Ave
S.W
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