Retailers Report May Sales Surge Led by Durable Goods
Major chains across the United States posted gains in May with durable goods such as appliances and furniture driving the upturn. Sears and Kmart reported strong, year over year increases, while J C Penney and Woolworth showed smaller gains amid store renovations and discontinued lines.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Jeffrey Edelman
Dean Witter Reynolds Inc
Levitz Furniture Corp
Edelman
Jeffrey Feiner
Merrill Lynch & Co
May
Kmart
Bernard. Fauber
J.C. Penney
Penney
F.W. Woolworth Co
Sears
Federated Department Stores
Associated Dry Goods
F.W. Woolworth
Atlantic Metro
Boeing
Northwest Airlines
Black & Decker
Standard & Poor
S&p
American Stock Exchange
Foudree calls unisex law unacceptable in Iowa
Iowa Insurance Commissioner Bruce Foudree denounces a proposed federal unisex rate law as a dangerous gamble that could threaten insurer financial health. He warns retroactive pension boosts for women could bankrupt firms, and argues aging and other factors should be state-regulated rather than federally mandated.
MENTIONED IN THIS ARTICLE
Judy Daubenmier
Gazette
Des Moines
Iowa
Bruce Foudree
Foudree
Robert Hauser
Banker’s Life of Des Moines
Montana
Missouri
Illinois
Michigan
Oregon
Massachusetts
California
Maryland
Connecticut
Washington D.C
Hawaii
North Carolina
Unemployment claims edge up as weeks differ across programs
First time claims for unemployment benefits rose slightly in the week ending May 21 to about 455,000, while the Federal Supplemental Compensation program drew 1.54 million recipients. Regular state benefits fell by roughly 90,000 from May 7 to May 14, with total unemployment compensation across all programs at 5.65 million.
MENTIONED IN THIS ARTICLE
Washington
Employment and Training Administration
Congress
Reagan
U.S. Treasury
Puerto Rico
Virgin Island
U.S
U S Auto Production Dips Week Over Memorial Day
Ward's Automotive Reports shows U S car production this week at 128 866 units, down 8 6 percent from last week, with trucks at 41 993 down 8 9 percent. Year to date car output up 24 9 percent, Canadian plant output rises with 23 746 cars and 12 409 trucks planned this week.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Industry Journal
Ward
the Trade Journal
Canada
Ward’s
Small breweries face shrinking market as Dubuque Star closes
Dubuque Star Brewing Co. Iowa's only brewery shuts, illustrating the squeeze on small brewers in a market dominated by a few giants. Industry views show top 10 firms control 98 percent of beer. only 42 of 750 breweries remain since Prohibition repeal. Owner Joseph Pickett remains optimistic, urging resilience and big ideas with small operations.
MENTIONED IN THIS ARTICLE
Dubuque
Dubuque Star Brewing Co
Iowa
Newsweek Magazine
U.S
Joseph Pickett
Agri Industries
West Des Moines
Pickett
AMC extends incentives on two Jeep models and Renault Alliance
AMC extends purchase incentives for two Jeep models and the Renault Alliance in a Southfield press release. Alliance 36 month loans at 10.9 percent shift to 37 to 48 month terms at 11.9 and 12.9 percent in July, while Jeep CJ and Scrambler loans hold 9.9 percent through July with 11.9 percent for 37 to 48 months. GM and Ford cut small car and truck rates to 8.8 percent through June then 9.9 percent in July.
MENTIONED IN THIS ARTICLE
Southfield
Mich
American Motors Corp
Jeep
Renault Alliance
Alliance
AMC
General Motors Corp
Ford Motor Co
Lucite plant's future uncertain after Clorox deal
Fort Madison Iowa faces uncertain future for its Lucite paints plant as Clorox agrees to buy U S exclusive Lucite trademark rights from DuPont. Production will move to Olympic Stain sites over a two year transition, affecting about 415 workers. DuPont provided no definite plans beyond the agreement.
MENTIONED IN THIS ARTICLE
Fort Madison
Clorox Co
U.S
E.I. DuPont de Nemours & Co
Clorox
Olympic
DuPont
Wilmington
Del
Late buying lifts stocks as economy steadies
The market closed higher after a late buying spree with the Dow up 9.23 to 1211.44 as optimism grew on a strengthening economy and fading rate fears. Major gains led by retailers and tech, while Boeing and Northwest reported notable moves and volume rose.
MENTIONED IN THIS ARTICLE
New York
MNB to Change IRA Interest to Monthly Basis
Merchants National Bank of Cedar Rapids will switch IRA interest from quarterly to monthly effective July 1. A letter to IRA holders outlines the plan with rates set at 1 percent over the Treasury Bond auction rate on the last Monday of each month, starting June 27.
MENTIONED IN THIS ARTICLE
Merchants National Bank of
Cedar Rapids
MNB
Merchants National Bank
Calvin Coquillette
Treasury
Bishop Buffets Expands to Cedar Rapids and North Kansas City
Bishop Officials sign lease for a 33rd cafeteria to be housed at Antioch Shopping Center North Kansas City. The Forum Cafeteria site will be remodeled and the facility slated to open in fall next year. BishopBuffets now operates 31 buffets in eight states with No 32 due next spring in Bloomington Normal Illinois.
MENTIONED IN THIS ARTICLE
Bishop Buffets Inc
Cedar Rapids
Antioch Shopping Center
Kansas City
Bishop
E.C. Bartz
Forum
Antioch
Bartz
Bloomington- Normal
Also Mentioned on This Page
Sears, Roebuck and Co
Edward Telling
Federated Department Stores Inc
Montgomery Ward
Dayton Hudson Corp
May Department Stores Co
Monte Gordon
Dreyfus Corp
Newton Zinder
E.F. Hutton & Co
Oriental Rugs
Consumer Price Index
Salomon Bros. Infographics
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