Credit worries trigger stocks' steep eight week drop
The New York stock market posted its sharpest fall in eight weeks as fears of Federal Reserve credit tightening unsettled traders. The Dow fell 20.24 to 1209.23, with volume rising to 82.73 million on the NYSE. Nasdaq slid 8.47 to 315.87 as IBM, Chrysler, Teledyne, TI, and GE led losses while some gas stocks rose on a court ruling.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
New York Stock Exchange
Fed
Treasury
American Stock Exchange
International Business Machines
Chrysler
Teledyne
Texas Instruments
General Electric
Supreme Court
Equitable Gas Co
Equitable
Wilson Foods plants return to full operation after strike
Wilson Foods says Cedar Rapids Iowa and Albert Lea Minnesota plants resumed hog kills Monday night with continued kills and cutting Tuesday as the company moves back to normal. Seven plants should be fully running by week end after a three week UFCW strike resolution and a new wage package ratified by 55 percent of the membership.
MENTIONED IN THIS ARTICLE
Gary Peterson
Wilson Foods
Cedar Rapids
Albert Lea
Minn
United Food and Commercial Workers Union
Dave Thompson
Thompson
UFCW
Wilson Foods Corp
John Mancuso
Washington, D.C
National Labor Relations Board
U.S. District Court
Oklahoma City
Mancuso
Kenneth
Griggy
Oklahoma City Times
Cherokee
Iowa
the Times
Bill Wynn
IBP
Stanwood
Wilson
Airlines end discount era as July 1 fare rules tighten
New York AP report notes U S airlines will drop their 20 percent category discounts starting Friday with the end of the promotional fare. Super Saver options offering up to 50 percent off require seven days advance purchase and a 14 day stay. Airlines say further reductions remain for planned trips while urging customers to book ahead. Eastern plans a 5 percent rise effective July 16, but may back off if rivals don’t follow.
MENTIONED IN THIS ARTICLE
New York
Bruce Hicks
Continental Airlines
Trans World Airline
David Venz
Chuck Novak
United Airlines
Eastern Airlines
Eastern
Ida Roberts
Volkswagen recall probes brake system on Rabbits and Sciroccos
About 650000 vehicles, including 1975 79 Sciroccos and 1976 78 Rabbits, face inspection after 51 complaints citing possible hydraulic brake line corrosion. Owners will get letters. dealers will check brake hoses during service.
MENTIONED IN THIS ARTICLE
Detroit
Volkswagen
National Highway Traffic Safety Administration
Volkswagen of America Inc
Jay Amestoy
Money gifting to child via custodian income property strategy
A tactic to transfer income producing property to a child or grandchild while using a custodian to direct earnings. The parent pays tax on the income at the child’s lower bracket, with expert notes on gift tax exclusions and estate concerns if the custodian dies before the child is grown.
MENTIONED IN THIS ARTICLE
Commons
Prentice-Hall
P H
Prentice- Hall
Trade Deficit Reaches A Record May $6.9 Billion
The May foreign trade deficit rose to a record $6.9 billion as imports climbed 8.7 percent to $22.5 billion while exports slipped 3.2 percent to $15.6 billion. Analysts expect 1983 deficits to widen with stronger domestic recovery and higher import demand abroad.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Department
David Lund
U.S
Malcolm Baldrige
IH Now Can Afford To Pay Deere Judgment
International Harvester Co says it can pay the 28.5 million judgment if upheld by the appeals court. A 2-1 decision in Washington affirmed Deere & Co rights in the adjustable cornhead dispute dating to 1976. Harvester may appeal. bankruptcy is not sought.
MENTIONED IN THIS ARTICLE
Chicago
International Harvester Co
Deere & Co
U.S. Court of Appeals
Washington
Moline Based Deere
Harvester
U.S
Deere
Seafirst Holders Approve BankAmerica Merger
Seafirst Corp. won shareholder approval to merge with BankAmerica in the largest interstate banking deal in U.S. history. About 79 percent of Seafirst's 16.2 million shares voted in favor as the merger nears effect this Friday. Regulators had already approved the deal citing Seafirst’s precarious finances.
MENTIONED IN THIS ARTICLE
Seattle
Seafirst Corp
BankAmerica Corp
U.S
Seafirst
Richard P. Cooley
Federal Reserve Board
Also Mentioned on This Page
Energy
el Paso Co
Columbia Gas System
Baldwin United
Maryland Cup
Fort Howard Paper
Fort Howard
Essex Chemical
Exchange
Standard & Poor
S&P’s
Consumer News
Airlines
Dean Witter
Sears
Triler
Sears Financial Network
Oe Y Ber
Tno
Sears Trust
Dean Witter Reynolds Inc
Collins Road
N.E
Lund
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