Bally chief presses on after tough year on Las Vegas Strip
Bally Manufacturing chief Robert Mullane surveys a 23 acre parcel on the Las Vegas Strip as he forecasts a better 1988. Bally, the world’s largest gaming company, faced a 1987 with Trump buyout costs and legal entanglements but expects renovations and expansion at Bally’s Park Place Atlantic City and the Las Vegas Reno properties. The company’s assets reach 2.56 billion with first three quarters 1987 revenue at 1.29 billion. Mullane cites completion of an 800 room tower at Park Place and continued investment to upgrade Bally’s Las Vegas property, including expansion on adjacent land.
MENTIONED IN THIS ARTICLE
Associated Press
Las Vegas
Nev
Robert Mullane
Bally's
Las Vegas Strip
Bally Manufacturing Corporation
Bally
Mullane
Donald Trump
Trump
Six Flags Amusement Park
Wall Street
Park Place Resort
Atlantic City
Reno
MGM _ Grand
Kirk Kerkorian
Nevada
Steve Wynn
Bally’s
Week Ahead Economic Updates and Local Meetings
This week outlines U S economic reports on retail sales and consumer spending, manufacturing output, and trade deficits with schedules for Monday through Friday. Local business association meetings in Cedar Rapids include IAFP sessions and ABAW chapter events with speakers on finances and purchasing approaches.
MENTIONED IN THIS ARTICLE
Labor Department
International Association For Financial Planning
Cedar Rapids
Banc Iowa
Marabwa
American Business Women’s Association
Longbranch
Jo Moore
Tri State Tours
Society of Manufacturing Engineers
Sirlein & Brew
Roger Klouda
MSI Mold Builder
Retailers anticipate 1988 market with cautious outlook
Retailers gathering in New York after a tough Christmas expect 1988 to resemble 87 with slow growth. Analysts foresee 6 to 7 percent sales rise, tight consumer spending first half, possible pickup later, and continued inventory discipline to protect profits.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Monroe H. Greenstein
Bear Stearns & Co. Inc
Philip Hawley
Carter Hawley Hale Stores Inc
Kmart Corp
Michael Wellman
Discount Chain
Wellman
Christ
Wine market 1988 outlook favors premium labels over imports
Wine will stay big business in 1988 with stable overall sales around 575 million gallons. Premium wines rise while generic and imports dip. wine coolers recover slowly. California jug wines weaken as coastal premium varieties grow, led by Sutter Home and Korbel Champagne.
MENTIONED IN THIS ARTICLE
San Francisco
United States
Wines & Wines
U.S
Gomberg, Fredrikson & Associates
California
San Joaquin Valley
Napa Valley
Sutter
Jon A. Fredrikson
Gomberg Fredrikson
Wall Street Faces Friday Fallout After Major Dow Drop
The Dow Jones fell 140.58 points 6.9 percent to 1911.31 the Wilshire index dropped 5.67 percent as traders fear a repeat of Black Monday. Analysts cite program trading rising rates and a December unemployment drop as drivers while some expect further declines Monday.
MENTIONED IN THIS ARTICLE
John C. Given
Associated Press
New York
Wilshire Associates
New York Stock Exchange
Labor Department
Federal Reserve
U.S
Presidential Study Commission
Commission
Federal Reserve Board
Your Money IRAs still pay in some ways
The 1988 IRA season may be quieter due to tax law changes. Anyone with wage income can contribute up to 2000 dollars, but deductions are limited if covered by a pension and earning above thresholds. The tax-free growth remains a key advantage for nondeductible contributions. Rollovers and gifting to children to fund their IRAs are suggested strategies.
MENTIONED IN THIS ARTICLE
New York
Outlook
Standard & Poor’s Corp
S&p
Coopers & Lybrand
Computer programs threatened by virus in Tampa spread
A self propagating computer program, described as a virus, infected more than 20 Tampa Amiga User's Group floppy disks and spread to members. IBM's Tampa regional headquarters also slowed by the chain letter virus. Experts warn damage potential remains uncertain.
MENTIONED IN THIS ARTICLE
Tampa
Fla
IBM
Jeff White
Amiga
White
International Business Machines Corp
Hebrew University
Jerusalem
Yisrael Radai
Radai
Tampa Tribune
Frank Gobes
Also Mentioned on This Page
Bally Chief
By Robert Macy
Telerate Systems Inc
Telerate
Federal Funds
Treasury
National Retail Merchants Association
Jeffrey B. Edelman
Drexel Burnham Lambert Inc
Bill Rinderknecht
Millhiser Smith Agency. Inc
Oakland Road
Steve King
Jim
Cole
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