Commission rejects Bell profit rise in Iowa rate case
The Iowa Commerce Commission ruled Northwestern Bell cannot raise its rate of return from 14.75 percent, denying a 24 to 4 point increase. The decision trims about 29 million dollars from Bell's proposed 67.3 million dollar annual hike for 675,000 Iowa customers. The case continues with potential appeals and a two-step rate process under new utility law.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa Commerce Commission
Northwestern Bell Telephone Co
Bell
Iowa
Commission
Andrew Varley
Varley
Northwestern Bell
Scott County
Stocks Rally Then Fall Back Amid Middle East Tensions
UPI reports a midday rally failed as stocks slid to an 11-week low on Monday due to Middle East tensions and high rates. Key indexes moved modestly, with the Dow near 804, and Mesa Petroleum and Cities Service in a takeover battle.
MENTIONED IN THIS ARTICLE
New York
UPI
Middle East
Palestine Liberation Organization
Lebanon
Mesa Petroleum Cities Service
Dow Jones
Standard & Poor
Out-of-pocket Costs for Volunteers Deductible
The article explains volunteers can deduct out-of-pocket expenses for church or charity work. Allowable costs include transportation by car, with 9 cents per mile allowed, excluding depreciation. Proof of mileage and travel purpose is required.
MENTIONED IN THIS ARTICLE
Prentice-Hall
Iowa Beef workers vote to strike at Dakota City plant
About 2,000 members of United Food and Commercial Workers Local 222 voted to strike Iowa Beef Processors Inc. in Dakota City over a contract dispute. The union backed a two year pay freeze with open cost of living clause and rejected a seven day work week and hours cut.
MENTIONED IN THIS ARTICLE
Dakota City
Neb
United Food and Commercial Workers
Iowa Beef Processors Inc
Lewie Anderson
International Union
Sioux City
IBP
Federal Mediation Service
Philadelphia bank raises prime rate to 16 percent
Continen tal Bank of Philadelphia increased its prime rate to 16 percent, after a prior move to the same level two weeks earlier. Economists anticipate little near term change, noting banks keep a cushion between funding costs and lending rates while the yield curve stabilizes. Citibank and First National Bank of Boston also show a 16 percent rate, with others at 16 1/4.
MENTIONED IN THIS ARTICLE
New York
UPI
Continental Bank of Philadelphia
David M. Jones
Aubrey G. Lanston & Co
Richard C. Rishel
Continental
Citibank
First National Bank of Boston
Krall's Shoe Store to Close Downtown Cedar Rapids Shop
Krall's Shoe Store in downtown Cedar Rapids, in business 96 years, will close in September and consolidate operations at the Lindale Plaza store. Owners Dwayne and JoAnn Bourret say the downtown lease ends then and four downtown employees will transfer to Lindale. A Sioux City location has already closed.
MENTIONED IN THIS ARTICLE
Krall’s
Cedar Rapids
Lindale Plaza
Dwayne
JoAnn Bourret
Sioux City
Economy sinks in May as manufacturing shows large job losses
UPI reports the National Association of Purchasing Managers survey found May orders and production at five month lows with unprecedented employment declines. Only inflation relief appeared favorable as executives warned improvements hinge on the 1983 budget, rate cuts, and the July tax cut.
MENTIONED IN THIS ARTICLE
New York
UPI
National Association of Purchasing Managers
NAPM
Bell and Boeing form teaming for vertical lift aircraft
Bell Helicopter and Boeing Co announce a teaming agreement to enter the Joint Services Vertical Lift Aircraft Program. The effort aims to produce a new entry for Marine Corps Army and other services with improved transport, electronic warfare, search and rescue, and special operations capabilities. Bell's XV-15 tilt rotor prototype hints at the project scope.
MENTIONED IN THIS ARTICLE
Hurst, Texas
UPI
Bell Helicopter
Boeing Co
Bell
Textron Inc
Boeing Vertral Co
Boeing
U.S
Tion
Marine Corps
Army
Navy
Air Force
Defense Department
Mesa Petroleum bids $45 per share for Cities Service stake
Mesa Petroleum goes directly to Cities Service stockholders with a 45 per share tender to buy at least 15 percent of Cities Service. Mesa also rejects Cities Service 17 per share offer as inadequate and seeks 12.1 million Cities Service shares.
MENTIONED IN THIS ARTICLE
Mesa Petroleum
Cities Service
Mesa
IBM
American Telephone & Telegraph
Middle East
New York
ASA Ltd
Campbell Red Lake
Dome Mines
Homestake
Nucor
Tulsa
Okla
UPI
Securities and Exchange Commission
John Boros
Amarillo
Texas
Cities Service Board of Directors
Kent Young
Chrysler raises prices on K-cars Omni Horizon and more
Chrysler Corp. announced 1982 model year price hikes for the Omni Horizon four door hatchback and the Reliant Aries two door sedan by 200 and 249 dollars respectively. The base Miser and base K car will sell at 5699 and 6239 dollars with engine options up 61 and 98 dollars. Destination charges rise 15 dollars.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
Automaker
Chrysler
GM raises 1982 car prices and shipping charges
General Motors Corp said its first price increase of the 1982 model year would add about 36 dollars to the price of new cars with an average 15 dollar rise in shipping charges. The hike, effective June 14, follows cost pressures and mirrors moves by Ford and Chrysler. GM notes stronger May sales after a slow spring.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors Corp
Automaker
Ford Motor Co
Chrysler Corp
Caterpillar Lets 1600 Plus Workers Go in Illinois Cutbacks
Caterpillar Tractor, Peoria’s largest private employer, laid off more than 1,600 workers effective Monday across four central Illinois plants. The totals bring the firm’s indefinite lay offs in the Peoria area to just over 5,300 workers.
MENTIONED IN THIS ARTICLE
Caterpillar
Peoria
UPI
Caterpillar Tractor
Central Illinois
Also Mentioned on This Page
By Roger Munns
Shearson-American Express
Tonka Corp
Bramah Ltd
Tonka
Torin Corp
Cleveoak Corp
Torin
Cleveoak
Dome Petroleum
Heizer Corp
Kallestad Laboratories
National Association of Securities Dealers
Board of Trustees
Gazette Wire Services
Philadelphia Bank
Mesaspar
Bloom County
Berke Breathed
Pais
Tandy Corporation
Radio Shack
Tandy Corp
Consumer
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