U of Iowa Credit Union Faces 319000 Loss From Penn Square Failure
The University of Iowa Credit Union expects a loss of about 319600 from its Penn Square Bank investment, based on FDIC estimates of uninsured deposits. The credit union plans to pursue a bond claim for recovery and awaits a DOJ inquiry into Penn Square. insured deposits remain protected.
MENTIONED IN THIS ARTICLE
Iowa City, Iowa
University of Iowa Credit Union
Penn Square Bank
Federal Deposit Insurance Corp
Oklahoma City
Okla
Federal Insurance
US Credit Union
Fred Krause
Krause
U.S. Justice Department
Penn Square
FDIC
Credit Union
Peat, Marwick, Mitchell & Co
William Dudley
Iowa
Klinkhardt
Help Wanted Ad Index posts largest gain in three years
The Help Wanted Advertising Index rose seven points in May to 88, its biggest monthly rise in over three years, signaling potential improvement in labor market conditions. Gains occurred in eight of nine regions led by Mountain and West North Central areas, with economists noting rising output and potential for reemploying jobless workers.
MENTIONED IN THIS ARTICLE
Help Wanted
New York
Conference Board
Kenneth Goldstein
The
East South Central
Alabama
Tennessee
Kentucky
Mountain
Colorado
Arizona
Utah
West North Central
Missouri
Minnesota
Nebraska
South Atlantic
Virginia
Georgia
Maryland
Carolinas
Florida
Washington, D.C
Pacific
Middle Atlantic
Pennsylvania
New England
West South Central
Texas
Oklahoma
Louisiana
ConAgra to buy Armour Food Co from Greyhound
ConAgra Inc and Greyhound Corp announced a deal for ConAgra to purchase Armour Food Co, Greyhound’s meat processing unit. Armour operates about 21 facilities with roughly 6,500 workers and $2 billion in annual revenue, while Greyhound would take 3.4 million ConAgra shares valued at $92 million and cash for the rest. The agreement includes stock sale restrictions and post three year disposal options, with Armour branding transferring to ConAgra and some labor terms to be renegotiated.
MENTIONED IN THIS ARTICLE
Omaha
Neb
ConAgra Inc
Greyhound Corp
ConAgra
Greyhound
Armour Food Co
Armour Food
Armour
United Food and Commercial Workers Union
Phoenix
Ariz
Armour-Dial Inc
Armour International Inc
Con-Agra
Charles W. Harper
Teets
Wall Street
America
Stocks Turn Higher as Volume Remains Light
The Dow rose 4.61 to 1,213.84 with light NYSE volume of 81.58 million shares. Leading indicators rose 1.2 percent in May while investors remained cautious about rates. Merrill Lynch led gains on 1.6 million shares. IBM, GE, GM, AT&T, and Kodak rose, Dover Corp fell sharply with a 30 percent earnings drop anticipated.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Dow Jones
Reagan
Merrill Lynch
General Electric
General Motors
American Telephone & Telegraph
Eastman Kodak
Paine Webber
American Can
Withholding Still Up in Air in Cedar Rapids
A Perpetual Savings and Loan spokesman says the tax withholding on interest and dividends has been delayed to August. Depositors may file exemption forms now and Perpetual will accept them. Despite Senate and House opposition, filing may prep for a possible repeal with a rush of last minute filings if withholding takes effect.
MENTIONED IN THIS ARTICLE
Perpetual Savings and Loan Association
Cedar Rapids
Auga
U.S. Senate
House of Representatives
IBP Fort Dodge plant workers approve contract
Production employees at the idle IBP Inc plant in Fort Dodge ratified a new contract but no reopening is planned. spokesman Charles Harness said the facility shut Feb 20 due to cattle shortages and remains so. About 70 percent of voters approved a wage rollback from 9.55 to 8.20 per hour.
MENTIONED IN THIS ARTICLE
Fort Dodge
IBP Inc
Charles Harness
Strike relief payments planned for Friday at UFCW hall
United Food and Commercial Workers Local P-3 will issue strike assistance pay Friday from 8 a.m. to 5 p.m. at the union hall, per President Garry Zimmerman. He denied layoffs for returning workers and cited the meat pipeline as the reason some staff were sent home. By Monday all workers should be back on the job after a three week strike against Wilson Foods began resolving.
MENTIONED IN THIS ARTICLE
United Food and Commercial Workers
P-3
Wilson Foods
Garry Zimmerman
Zimmerman
UFCW
Chrysler offers jobless car payment aid in three cities
Chrysler Corp will cover monthly payments on new 1983 Chrysler Plymouth and Dodge cars for buyers in Tucson Rochester and Louisville who lose their jobs within a year of delivery. Payments up to 300 dollars monthly for up to 12 months or 3600 dollars total if unemployment occurs. No repayment required and payments continue until employment resumes or vehicle sale.
MENTIONED IN THIS ARTICLE
Tucson
Ariz
Chrysler Corp
Chrysler
Plymouth
Dodge
Rochester
N.Y
Louisville
Joe Tetherow
Los Angeles
Tetherow
Also Mentioned on This Page
U of Credit Union
First United Fund of New York
Phil Klinkhardt
Sheshunoff & Co. Inc
Austin
Tex
General Mail Order Companies
Mai
Insurance Companies
Source
Council of Better Business Bureaus, Inc
Better Business Bureaus
Roofing Contractors
Armour Meatpacking
Mason City
John W. Teets
Hoover Universal
Dover Corp
Standard & Poor
S&p
Coe
Coe College
American Bell
Bell
Ed Informatic
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