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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 22, 1983
Page
22
Detroit AP reports 1984 model domestic small cars likely to hold near current prices while large luxury autos may rise by over 200 dollars this fall. Analysts cite sagging small-car demand, stabilized gasoline prices, and excess small-car capacity as drivers behind the mixed outlook.
Automotive News reports most 1984 GM vehicles go on sale Sept 22, with Cadillac deVille Buick Electra and Olds 98 delayed past Jan 1. Ford lines, minus Lincoln Mark VII, also hit Sept 22. Mark VII debuts Nov 3. AMC, Chrysler, VW plan Sept 29 or Jan 1 introductions.
The House Energy and Commerce Committee approved by 26 to 16 a bill to require foreign auto makers to build factories in the United States. It advances to the Ways and Means Committee for 30 days before a House floor vote. Proponents include the United Auto Workers and House leaders. over 150 lawmakers are co sponsors. Eckart expects action after Labor Day, but the bill faces slim Senate prospects.
A rally lifts major indices to new highs with four key measures posting records. The Dow climbs from a two-year low, while the NYSE composite, Amex value index, S and P 400, and S and P 500 end higher as investors weigh growth signals and steady rates.
U S manufacturers saw a 0.2 percent rise in May durable goods orders led by non-defense gains, offset by a slide in military aircraft demand. Total orders reached 83.6 billion dollars with shipments up 3.2 percent to 83.1 billion, as defense orders fell and non-defense capital goods declined.
IBM will provide 40 million in computer systems to 20 universities in 14 states and the District of Columbia to boost manufacturing systems education at engineering schools. Five more schools will receive 10 million in cash to upgrade graduate programs in manufacturing systems this summer.
American Bell Advanced In 1 3887 Com CALL THE SMALL BUSINESS CONNECTION OF AMERICAN BELL 119 396-3811 Ext. 999N.
IBP stated hourly pay cuts of 11 to 12 percent will affect about 1,750 workers at the Emporia Kansas plant starting next Monday. The company cited eroded competitiveness after months of industry realities and noted similar salary reductions for plants in Denison Iowa West Point Nebraska and Laverne Minnesota.
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