Dow crosses 1100 before narrowing gains in mixed session
The Dow Jones Industrial Average rose to 1,100.07 at 2:30 p.m. but closed down 0.18 at 1,083.61 as traders booked profits. The NYSE index and NASDAQ reached new highs while analysts noted possible programmed selling at the milestone and predicted another test of 1,100. IBM held strong, signaling expectations of solid earnings next week.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
New York Stock Exchange
Standard & Poor
IBM
Monte Gordon
Dreyfus Corp
Newton Zinder
E.F. Hutton
Zinder
Keith Pinsoneault
Blunt Ellis & Loewi
Milwaukee
Pinsoneault
Credit unions free to define family under new rule
The National Credit Union Administration removed the same house hold requirement for membership, letting local boards decide who counts as family. The move could include unmarried heterosexual and homosexual couples, though officials stressed it was not the main aim.
MENTIONED IN THIS ARTICLE
Dallas
UPI
National Credit Union Administration
P.A. Mack Jr
Washington D.C
P&G Stockholders Approve 2-for-1 Split to 250 Million Shares
Procter and Gamble Co. announced stockholders approved increasing authorized common shares from 100 million to 250 million and converting each issued share into two. The two-for-one split becomes effective after the close of business January 21.
MENTIONED IN THIS ARTICLE
Cincinnati
UPI
Procter & Gamble Co
Fare cuts widen Ozark Sioux City reach across the east
Ozark Airlines will start another round of fare reductions Thursday, expanding the Q discount to about 25 destinations from Sioux City. The move aims to make Sioux City airfares competitive with Omaha to the same cities, boosting local business.
MENTIONED IN THIS ARTICLE
Sioux City
Ozark Airlines
Omaha
Chrysler UAW sign new contract for Detroit workers
In Detroit UPI reports Chrysler Corp and the United Auto Workers signed a pact giving 43 000 hourly workers immediate 75 cent raises and a total $2 250 increase by contract expiration a year later The agreement effective December 13 was ratified by 70 percent of hourly workers on December 17 It marks the final major deal for UAW President Douglas Fraser who voiced nostalgia at the signing ceremony In New York Richard L Anderson resigned as Woolworth Co president and COO to become executive vice president of Melville Corp Anderson had led Woolworth since 1980 after the chairman died in October and John W Lynn was named chairman
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
United Auto Workers
UAW
Douglas Fraser
New York
Richard L. Anderson
F.W. Woolworth Co
Melville Corp
Harrison, N.Y
Anderson
Woolworth
Edward F. Gibbons
John W. Lynn
Bell wins two as Iowa commission halts full rehash of rate case
DES MOINES Iowa The Iowa Commerce Commission refused to throw out Northwestern Bell Telephone Co s request for an 8.2 percent rate hike but urged staff and Bell to meet by Feb 1 to settle issues and avoid lengthy hearings. Chairman Andrew Varley rejected claims the filing was inadequate and urged cooperative talks to save time and funding.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa Commerce Commission
Northwestern Bell Telephone Co
Commission
Bell
Andrew Varley
Varley
Christine Hansen
AT&T antitrust ruling overturned by appeals court
The 7th Circuit vacated a $1.8 billion MCI judgment against AT&T and sent the case back for a new trial on damages from interconnection refusals. It upheld no predatory pricing findings but faulted AT&T for failing to interconnect and for bad faith negotiations. A later note reports a Pinto case settlement with Ford totaling $6.6 million out of court in Los Angeles.
MENTIONED IN THIS ARTICLE
Chicago
UPI
American Telephone & Telegraph
United States
7Th Circuit
U.S. Court of Appeals
Microwave Communications Inc
At&t
U.S
District Court
MCI
Los Angeles
Ford Motor Co
Los Angeles Times
Amoco launches big credit card offer with prizes
Amoco Oil Co. unveiled a major credit card promotion offering free gasoline coupons worth 3 5 or 10 dollars and a chance to win five 1983 Chrysler LeBaron cars. Applications will be mailed to 10 million non cardholders with a potential drawing entry available without applying. The card carries no annual fee and works at 20 000 Amoco stations and many others.
MENTIONED IN THIS ARTICLE
New York
UPI
Amoco Oil Co
Chrysler
Amoco
Standard Oil Co
Indiana
Sam G. van Sickle
U.S
Capital spending to shrink again in 1983
Washington reports the Commerce Department projects a 5.3 percent decline in capital spending for 1983 after inflation, following a 4.8 percent drop in 1982. Manufacturing and nonmanufacturing sectors both expect cuts, with durable goods down 3.5 percent and immediate consumption goods down 7.6 percent.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
Capitol Hill
Reagan
December drop in retail sales signals weaker Christmas period
Washington reports a 0.4 percent fall in U.S. retail sales in December led by a drop in auto sales after November highs. 1982 total retail sales reached $1.07 trillion, up 3 percent from 1981, with inflation likely inflating part of the gain.
MENTIONED IN THIS ARTICLE
Washington
U.S
Also Mentioned on This Page
Dow
Nabisco Brands
First Charter Financial
Financial Corp. of America
Financial Corp
Tandy Corp
Teledyne
Merrill Lynch
NBI Inc
Dome Petroleum
Wang Laboratories
Stephen Raver
Mack
Elizabeth Burkhart
Houston
Edgar Callahan
White House
Charles Filson
Renaissance Center
Aetna Life & Casualty Co
Ford Motor Land Development Corp
McNeilab Inc
Johnson & Johnson
Tandy Corpo
Cat
Eto
Computer Center
Cedar Rapids
First Ave
S. E
Metro
Gazette
Susie Lesbeau
Magic Associates
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