Stocks Close At Another New High On Bull Market Push
UPI reports a sustained stock surge on Tuesday with the Dow rising 18.09 to 1,130.71 and the NYSE index at a record 86.93, as analysts cite optimism, lower oil prices, and inflation outlook drawing investors into equities. The Nasdaq gained 1.15 to 261.82, while Sears and IBM topped activity lists amid broad market strength.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Dow
Keith Pinsoneault
Blunt, Ellis, Loewi
Milwaukee
Standard & Poor
Monte Gordon
Dreyfus Corp
David Polen
David M. Polen & Co
OPEC
Sheik Ahmed Zaki Yamani
American Airlines
Pan American
Pan Am
American
Wang Laboratories
Dome Petroleum
Ultimate Corp
National Association of Securities Dealers
Steel union ratifies 41 month pact with concessions
United Steelworkers vote 169 to 63 to approve a 41 month contract covering 266000 workers. The agreement ends a prior wage gains fight, cuts wages by 1.25 per hour and ends some vacation time, with savings redirected to modernize mills and fund plant improvements.
MENTIONED IN THIS ARTICLE
Pittsburgh
UPI
United Steelworkers Union
USW
J. Bruce Johnston
U.S. Steel Corp
Joseph Odorcich
Lloyd McBride
Odorcich
Stamats pressroom shutdown ends. workers recalled
Stamats Publishing Co. of Cedar Rapids announced a temporary shutdown of its pressroom on Feb. 22 will end today. Eight workers were affected and told to report back to work, restoring employment at the plant to about 95 100. The backlog of confirmed orders is higher than a year ago and the company foresees a strong 1983.
MENTIONED IN THIS ARTICLE
Stamats Publishing Co
Cedar Rapids
Stamats
Larry Zirbel
Zirbel
February auto production up 51 percent from 1982
Domestic automakers report February car output at 490,807, up 51.6 percent from February 1982, with trucks rising 19.3 percent to 161,638. Year to date auto production totals 938,331 cars, while truck output for 1983 stands at 288,399. Highlights by maker show GM cars at 281,663, Ford cars 125,285, Chrysler cars 64,428, American Motors 14,107, and VW cars 5,324, with mixed truck results and one notable VW first truck production in months.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors
Volkswagen
Theft losses and tax deduction dispute with IRS
A burglary leaves a taxpayer wondering if theft losses are deductible when no insurance claim is filed. Courts split, with Tax Court siding with taxpayers and two appeals courts split. The latest Eleventh Circuit decision in Atlanta favored taxpayers, suggesting potential for a deduction despite not reporting to police or insurer.
MENTIONED IN THIS ARTICLE
IRS
Tax Court
Courts of Appeal
Ilth Circuit Court of Appeals
Atlanta
Coca Cola lifts fructose share boosting corn market hopes
Coca Cola plans raise high fructose corn syrup in fountain drink syrup to 75 percent, expanding use from 50 percent. ADM Corn Sweeteners and Iowa officials foresee a larger corn market, potentially 244 million bushels more in Iowa, and a national 100 million bushel higher demand if major bottlers adopt fructose.
MENTIONED IN THIS ARTICLE
Gazette News Service
Coca-Cola Bottling Co
Iowa
ADM Corn Sweeteners
Ed Nissen
Coca-Cola
Nissen
ADM
Cedar Rapids
Clinton
Hubinger
Keokuk
Coca- Cola
Iowa Corn Promotion Board
Coca. Cola
Atlanta
Robert Martin
Lucy Norton
Martin
Norton
Pepsi
Royal Crown Cola
Pepsi-Cola
Utility asks letter blitz to protest Iowa Illinois bill
Iowa Illinois Gas and Electric Co. asks shareholders to write Iowa officials to oppose a bill moving through the legislature. President Dean R. Stichnoth says the measure would cut company earnings, hurt stock appeal, and impede Iowa’s economic development by blocking returns on a major portion of investment in generating plants. Shareholders are urged to contact lawmakers, Gov. Terry Branstad, and Lt. Gov. Robert Anderson to seek changes.
MENTIONED IN THIS ARTICLE
Iowa-Illinois Gas and Electric Co
Iowa
Dean R. Stichnoth
House of Representatives
Iown-Illinois
Illinois
Stichnoth
Terry Branstad
Robert Anderson
Ford recalls 140000 cars over transmission fault
Dearborn based Ford Motor Co recalls 140000 1983 cars and trucks that could roll from park to neutral due to faulty transmission parts. About 100000 built between December 14 and February 18 with automatic overdrive need inspection and replacement of parking pawl actuating rod. Models include Crown Victoria Thunderbird LTD Mercury Marquis Cougar Grand Marquis Lincoln Town Car and several Ford and Lincoln trucks. An additional 40000 built between November 29 and December 17 require steering column retainer clip replacement in 1983 Crown Victoria LTD Grand Marquis Zephyr Lincoln Town Car Mark IV Continental.
MENTIONED IN THIS ARTICLE
Dearborn
Mich
UPI
Ford Motor Co
Also Mentioned on This Page
Sears Roebuck
Sears
Pinsoneault
IBM
American Telephone & Telegraph
United Steelworkers
Steel Union
Ford
Chrysler
American Motors
Los Angeles Times
Crown Victoria, Ltd
Marquis
Continental
Bell
AIS
American Bell
At&t
Bell Labs
Western Electric
Bell’s Small Business Connection
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