Retail sales rise 9.1 percent in 1983 despite modest December gains
The Commerce Department reports 1983 retail sales climbed 9.1 percent from 1982, led by autos and durable goods as the year ends with only a 0.1 percent December gain. Economists note cold weather and early holidays may have dampened final purchases while long term trends show a slowing economy.
MENTIONED IN THIS ARTICLE
Washington
Ago Ambre
Commerce Department
Ambre
Sandra Shaber
Chase Econometrics
David Berson
Wharton Econometrics Associates
Adren Cooper
Cooper
Allen Sinai
Lehman Brothers Kuhn Loeb Inc
Sinai
Judge rules Rath pact would force Rath Packing liquidate
Federal bankruptcy judge William Thinnes dissolved Rath Packing Co. collective bargaining terms with United Food and Commercial Workers Local 46, saying preserving the contract would have compelled liquidation and hinder Rath's reorganization. The ruling, in a 53 page opinion, notes the wage and benefit provisions were overly generous and that the union may appeal while a strike threat looms.
MENTIONED IN THIS ARTICLE
Vanessa Shelton
Cedar Rapids
Rath Packing Co
Rath
United Food and Commercial Workers Local 46
William Thinnes
Thinnes
Waterloo
Roth
Auto sales jump 32 percent in early January
Domestic auto sales rose 32.2 percent in the Jan 1-10 period from a year earlier, reaching 149,146 cars as Ford led gains with 43.9 percent. GM rose 25.6 percent, Chrysler 32 percent, AMC 3.3 percent, and VW 27.2 percent, with Honda posting higher shares and Renault Alliance noted for AMC.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Ford Motor Co
General Motors Corp
Chrysler Corp
American Motors Corp
Volkswagen of America Inc
American Honda Motor Co. Inc
Ford
Chrysler
AMC
Ted Kade
Volkswagen
Honda
Marysville
Ohio
Dow Ends Week Lower After Sharp Selloff in Retail Stocks
Stocks slumped after an early rally faded as December retail sales rose only 0.1 percent. Dow fell 9.21 to 1270.10, posting a weekly loss of 16.54 points. volume reached 101.79 million on the NYSE. Retailers J C Penney Kmart Sears Federated saw declines amid broad declines in major indices.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Dow Jones
J.C. Penney
Kmart
Sears Roebuck
F.W. Woolworth
Federated Department Stores
Exchange
Standard & Poor
S&p
Kmart to test certificates and funds in Florida stores
Kmart Corp plans to test market certificates of deposit and a money market fund at three Florida stores and to expand financial services by opening 50 insurance centers in Florida and Texas. The company will offer Kmart Certificates for 12 months or less with a $1,000 minimum and 13 months or more with $250, and the Kmart Fund will be a daily interest money market with bonuses at high balances.
MENTIONED IN THIS ARTICLE
Detroit
Kmart Corp
Florida
Texas
Michigan
Standard Federal Savings and Loan Association
Kmart
Robert Brewer
Brewer
St. Petersburg
Margate
Fern Park
Fla
Sears, Roebuck & Co
U.S
Kmart Insurance Services Inc
Dallas-Fort Worth
Sears
Dean Witter Reynolds
Allstate Insurance
Sears Savings Bank
Coldwell Banker
Cedar Rapids
Bishop's Buffets
Midwest
West Union eyes $750K grant for expansion and relocation
West Union seeks a $750,000 Community Development Block Grant to seed a revolving loan fund. West Union Industries would manage the fund to back low interest loans, repaid to replenish the pot. A Deere dealership relocation could add four to five workers. H and H Distributing plans a 10,000 square foot freezer expansion to the existing warehouse.
MENTIONED IN THIS ARTICLE
West Union
West Union Industries
Clermont
Highway 150
Robert Bodensteiner
John Deere
Fort Atkinson
H&h Distributing
Mike Eischeid
H&h
Clermont Implement
American Express completes IDS takeover for about 750 million
American Express Co. says it completed its acquisition of Investors Diversified Services Inc. from Alleghany Corp for about 750 million, with IDS to be renamed IDS American Express. Walter D. Scott of IDS becomes chairman of IDS American Express.
MENTIONED IN THIS ARTICLE
American Express
IDS
NEW York
American Express Co
Investors Diversified Services Inc
Alleghany Corp
Alleghany
Acquisi
Court upholds federal funeral pricing rules ruling
A 4th U.S. Circuit Court of Appeals upheld new FTC funeral industry rules citing substantial evidence of unfair practices. The decision supports requiring itemized price lists and limits on embalming and casket requirements, with some provisions effective immediately and others set for April 30.
MENTIONED IN THIS ARTICLE
Richmond
U.S. Circuit Court of Appeals
Federal Trade Commission
FTC
National Funeral Directors Association
Supreme Court
Also Mentioned on This Page
Internal Revenue Service
Lewis Anderson
International Union
Anderson
Dow
The
Gazette
Fireman’s Fund Insurance Co
Shearson/American Express
Money Market
Ira
Larry Marak
Larry
Office
Tommy Tucker
Realtors
2Nd Ave
Iowa
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