Orders Boost Durable Goods Signal Economic Recovery
The government reported a 12 percent December rise in new orders for durable goods, led by military hardware, seen as confirmation that the recession is ending. Officials noted gains in housing, autos, and non military capital goods, with overall 1982 orders down from 1981 but improving.
MENTIONED IN THIS ARTICLE
Robert Furlow
Washington
U.S
Commerce
Malcolm Baldrige
Michael K. Evans
Labor Department
Martin Feldstein
President's Council of Economic Advisers
Baldrige
Layoffs Hit Rockwell-Collins Cedar Rapids Area
Rockwell-Collins plans a 27 worker layoff in Cedar Rapids with 25 of 52 posted positions to be retained. all in production. The firm also says the Switching Systems Division remains unaffected as its Downers Grove consolidations proceed. Ertl Co. in Dyersville will pause assembly for Feb 7–11, affecting 300–325 assembly workers amid excess inventory and slow orders. prior staffing was about 660 with 470 in plant.
MENTIONED IN THIS ARTICLE
Rockwell-Collins
Cedar Rapids
Ertl Co
Dyersville
Switching Systems
Downer’s Grove
Ill
Ertl
Pany
Dukes of Hazzard
AMT Co
Baltimore
Money supply jumps on new Super-NOW accounts cited
The money supply rose by 6.9 billion in the week to Jan 12 led by a surge in new Super-NOW accounts included in M1. Analysts say the rise reflects special timing, as Fed officials consider pausing easing while money growth and the economy gain momentum.
MENTIONED IN THIS ARTICLE
New York
UPI
David M. Jones
Aubrey G. Lanston & Co
Fed
Paul Volcker
Treasury
Sullivan
GM to phase out the X-Cars after 1984 model year
Reports say General Motors will stop producing the front wheel drive X-Cars after 1984, with the Omega and Phoenix first to disappear. Citations and Skylark may follow after 1986 unless plans change, as GM expands similar size models and other automakers enter the segment.
MENTIONED IN THIS ARTICLE
Detroit
America
General Motors Corp
Stan Hall
Chrysler Corp
Horizon
Utility begins investment plan for customers
Puget Sound Power & Light Co. expands its Stockplan to nine-county western Washington, allowing customers to buy common stock in increments as small as 25 dollars with quarterly limits up to 5000 dollars. No purchase fees, broker commissions apply on sale. Dividend reinvestment offers 5 percent discount and tax deferral on income.
MENTIONED IN THIS ARTICLE
Bellevue, Wash
UPI
Puget Sound Power & Light Co
Washington
Market plunges as Volcker warns rates stay high
Wall Street tumbled on Volcker's warning that high rates will persist to cut the budget deficit, with Dow down 17.84 to 1052.98 and the NYSE index slipping to 83.18. IBM fell 3 percent to 94, Exxon slid after a rating downgrade, and NASDAQ<OTC> dropped 2.02 to 243.97 as volume eased.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
Paul Volcker
Wall Street
IBM
Standard & Poor
Volcker
National Association of Securities Dealers
IBM reports higher profits in 1982 and Q4
IBM posted a 27.9 percent rise in Q4 profits on a 23.1 percent revenue gain from the prior year. For 1982 earnings rose 22.1 percent and revenues 18.2 percent, with Q4 net income at a record 1.5 billion dollars and 2.50 a share on 11.074 billion in revenue.
MENTIONED IN THIS ARTICLE
Armone
N.Y
UPI
International Business Machines Corp
Also Mentioned on This Page
Armand Hammer
Occidental Petroleum Co
Cities Service Co
Roger E. Anderson
Continental National Bank and Trust Co
Chicago
Llewellyn Jenkins
Manufacturers Hanover Trust Co
Ertl, Collins
Exxon
American Telephone & Telegraph
Seafirst Corp
DJIA
American Express
DuPont
Eastman Kodak
General Electric Co
Goodyear
INCO
Merck
Minnesota Mining & Manufacturing
Procter & Gamble Co
United Technologies
RCA
Wang Laboratories
Dome Petroleum
Lord Byron
Dale
Tucker
Coldstream
Alma NW
16Th St
17Th St
2Nd Ave
West Post Rd
Tommy Tucker Realtors
Ily
Seichow
Righter
Judd
Rademark Scrabble
Ed Feature Syndicate, Inc
Sap
Hal
United Feature Syndicate, Inc
Sheraton’s
Sheraton Inn
33Rd Ave
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