Economy sees 15 percent rise in new construction contracts
UPI reports F.W. Dodge projects 1983 construction value at 178.3 billion dollars, up 15 percent from 1982 due to lower interest rates and boosted public works spending. Housing, non-building and commercial sectors show gains with new transportation programs poised to add 2 to 2.5 billion in highway and bridge work.
MENTIONED IN THIS ARTICLE
New York
UPI
F.W. Dodge
George Christie
McGraw-Hill Information Systems Co
Dodge-Sweet
Public
Christie
Lion
Economist
U.S. Factory Use Rises to 68.5 Percent in February
U.S. manufacturers operated at 68.5 percent of capacity in February, up 0.2 point from January as part of a third straight rise after a long slide. Some sectors like primary metals and motor vehicles show gains while petroleum refining and some capital goods industries decline.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve Board
Washington University
St. Louis
L. Andrew Oldroyd
Auto makers see March 1–10 sales rise despite GM dip
Domestic automakers report 2.6 percent higher sales for March 1–10 versus last year with 160 617 vehicles sold. GM led declines among Big Three with a 2 percent drop. Ford and Chrysler posted gains. AMC and VW showed notable changes as Renault Alliance spurred AMC growth.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors Corp
Ford Motor Co
Ford
Chrysler Corp
Chrysler
American Motors Corp
Automaker
AMC
Volkswagen of America
Amana Cites 1983 Microwave Upswing Amid Forecast Disagreements
Amana Refrigeration and FIND SVP see a 1983 rebound for microwave ovens after 1982 setback. FIND SVP foresees about 4.57 million units sold, while Amana pegs industry sales at 4.6 to 4.7 million. Mueller notes 1981 to 1983 growth and eventual 5 million annual sales by 1986 87 with saturation ahead.
MENTIONED IN THIS ARTICLE
Bruce Fishwild
Amana
New York
Find-Svp
United Press International
Charles V. Mueller
Mueller
Peter Allen
Stocks slide despite upbeat economic data in broad market pullback
Wall Street ended lower as the Dow fell 8.52 to 1,116.00 amid positive February activity reports. The NYSE composite slipped to 86.40, while the S P 500 declined to 149.80 as oil services and several big names retreated. Some retailers rose on better earnings, and the Amex advanced with the index up 1.5 to 381.64 led by activity in Imperial Chemical and Dome Petroleum.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Standard & Poor
New York
Maytag nominates Robert D Ray to board of directors
Former Iowa Governor Robert D Ray was nominated for election to Maytag Co board of directors. Shareowners will vote at the annual meeting on April 26. Ray, who served five terms as governor, recently became CEO of Live Investors Inc in Cedar Rapids.
MENTIONED IN THIS ARTICLE
Newton
UPI
Robert D. Ray
Maytag Co
Ray
Live Investors Inc
Cedar Rapids
Maytag
Treasury changes bidding on bills in new weekly auctions
The Treasury Department will shift from price to discount yield bidding for weekly Treasury bills beginning April 18. Bidders must state acceptance yield to two decimals and prices for accepted bids are calculated to three decimals. Individuals pay the weighted average discount yield price.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury Department
Treasury
Disability pay from employer plans excludable from income
Tax guidance notes that amounts from employer financed accident and health plans are excluded from gross income for 1982 returns except wages during non permanent injuries. Up to 100 dollars weekly may be excluded if retiree is totally and permanently disabled before 65, with annual exclusion reduced by adjusted gross income over 15000 dollars. Married retirees must apply limits.
MENTIONED IN THIS ARTICLE
Commerce Clearing House
National Authority On
Tax tip on joint filing and disability exclusions
The guidance explains a $5,200 per spouse exclusion, a $15,000 AGI phase-out limit for couples, and disability retirement pay rules. It notes self employed individuals cannot claim the disability exclusion, and age 65 affects eligibility. An irrevocable election to use annuity rules is possible if the exclusion is waived.
MENTIONED IN THIS ARTICLE
United Press International
Also Mentioned on This Page
Mreurvery
Sears-Sanyo
General Electric
Litton, Sharp
Raytheon
Tappan
Monte Gordon
Dreyfus Corp
Wall Street
Hugh Johnson
First Albany
Telephone
Sony
General Instruments
Merrill Lynch
Schlumberger Ltd
Hughes Tool, Halliburton Co
Baker International
F. W. Woolworth
Federated Department Stores
May’s
National Association of Securities Dealers
Imperial Chemical
Wang Laboratories
Dome Petroleum
Amex
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