Retail chains report double digit June sales gains across major outlets
New York AP reports big retailer sales rose in June as warmer weather, improved employment, and low inflation boosted demand. Sears up 10.3 percent to 2.0 billion, Kmart 15.5 percent to 1.8 billion, JCPenney 7 percent. Federated 19.1, Dayton Hudson 27.4, May 19.8.
MENTIONED IN THIS ARTICLE
New York
America
Wall Street
Sears, Roebuck & Co
Sears
Kmart
Bernard Fauber
Penney
Penney’s
Federated
Woolworth
John Lynn
Dayton Hudson
B Dalton
Montgomery Ward
May
Carter Hawley Hale Stores Inc
Cedar Rapids
Waldenbooks
Allied Stores Corp
R.H. Macy & Co
Lincoln Mark VII Redesign For 1984 Unveiled
Ford announces a redesigned 1984 Lincoln Mark VII lighter and smaller by 350 pounds 13 inches shorter and 8 inches narrower. Steitzer Lincoln-Mercury Cedar Rapids expects the new model in November with electronic air spring suspension and flash mounted aerodynamic headlights. Prices not announced. The car will come in three versions including a standard model.
MENTIONED IN THIS ARTICLE
Ford Motor Co
Cedar Rapids
Steitzer
Collins Road
Ford
Fed ponders higher interest amid White House pressure
The Reagan administration told the Fed not to raise the discount rate as rates edge higher, amid concerns the tightening could slow the economic recovery. Officials note a possible half point rise from 8.5 to 9 percent, with analysts warning of broader rate increases and inflation risks. The Fed defers comment while discussing policy tools and meeting in Washington next week. In Stamford, Peabody International to acquire Deak-Perera's currency and metals operations for an undisclosed cash sum.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Federal Reserve Board
Fed
Central Bank
White House
Larry Speakes
Speakes
Federal Reserve System
Washington Post
Federal Reserve
Treasury
Donald T. Regan
Martin Feldstein
Regan
Feldstein
Joseph Coyne
Paul Volcker
Federal Open Market Committee
Federal Reserve Banks
Stamford, Conn
Peabody International Corp
Deak-Perera
United States
Canada
Guam
Saipan
Reagan nominates Cox to SEC seat in 1980s pick
President Reagan named Charles C. Cox chief economist at the SEC to become a commissioner. The move ends weeks of speculation over John R. Evans’s fate and presents Cox as a conservative Republican with experience at Ohio State and Texas A&M. Evans faced mixed support and Shad’s opposition.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Charles C. Cox
Securities and Exchange Commission
White House
John R. Evans
Commission
Evans
Congress
John S.R. Shad
Cox
Texas A & M University
College Station
Texas
Senate
Senate Banking Committee
Ohio State University
Texas A&m University
Agency
Market Down But Metals Up on Earnings and Debt Worries
The Dow fell 10.21 to 1210.44 as the session closed amid rate and debt jitters. Gold rose to 430.50 an ounce and silver climbed to 12.26 as precious-metals stocks gained. bank equities mostly fell.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Treasury
Brazil
Commodity Exchange
ASA Ltd
Homestake Mining
Campbell Red Lake
Sunshine Mining
Hecla Mining
Citicorp
Chase Manhattan
J.P. Morgan
Prime Computer
McGraw-Edison
Exchange
Standard & Poor
S&p
Banks of Iowa announces leadership change at Cedar Rapids unit
Banks of Iowa Computer Services in Cedar Rapids says president Brian Phillips resigns to take a similar post with Allied Bancshares Inc. Brian C. Scott, formerly vice president of marketing, elected to succeed him. Banks of Iowa, with 1.6 billion in assets and 11 subsidiaries, plans to acquire three more banks pending regulatory approval.
MENTIONED IN THIS ARTICLE
Banks of Iowa Computer Services
Cedar Rapids
Brian Phillips
Allied Bancshares Inc
Houston
Brian C. Scott
Scott
Des Moines
Banks of Iowa
Holmes Foster
Banks of
Wilson Foods faces Chapter 11 with 700 claims and $200 million debts
Wilson Foods Corp and three subsidiaries filed for Chapter 11, listing about 700 claims and more than $200 million in debts. Largest unsecured creditors include Mellon Bank and Citibank. secured claims total $27 million from Continental Illinois. Priority debts amount to $30.2 million, with wages and benefits at $23.4 million.
MENTIONED IN THIS ARTICLE
Oklahoma City
Wilson Foods Corp
Wilson
Kenneth Griggy
Mellon Bank of
Pittsburgh
Citibank of
New York
Manufacturers Hanover Trust Co
First City Bank of Dallas
International Business Machines Corp
Continental Illinois Bank & Trust Co. of
Chicago
Northwestern National Bank of Minneapolis
Jobless Claims Edge Higher in June Says Economists
New unemployment claims rose to 416000 for the week ending June 25, up from 400000. Analysts say the uptick is minor amid a broader downward trend, with the June unemployment rate likely near 9.9 to 10 percent. About 3327000 Americans drew basic 26 week benefits in the week ending June 18.
MENTIONED IN THIS ARTICLE
Robert Ortner
Commerce Department
Labor Department
Allen Sinai
Sinai
of Data Resources Inc
Lexington
Mass
Puerto Rico
Virgin Islands
Also Mentioned on This Page
Securities
Phillips
Texas Bank
Judd
United Featu
S Syndicate, Inc
Judd 183
United Feature Syndicate, Inc
Seichow and Righter Co
Scrabble
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