Housing construction sinks 11 percent in February
Housing starts fell 11 percent in February to a seasonally adjusted 1.64 million units led by a 36.7 percent drop in apartment construction. Single family homes rose 5.3 percent to 1.1 million. mortgage rate upticks raised concerns for future gains, with the Midwest recording the sharpest regional decline to 177,000 annual units—the lowest since December 1982.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Michael Wilson
U.S. League of Savings Institutions
Midwest
Bondy on Money Tax Savings From Record Keeping
Tax savings depend on meticulous records of all investment expenses. Readable items include costs for investment publications, safe deposit, postage, telephone, brokerage fees, custodial fees, advisory fees, margin interest, state transfer taxes, IRA or Keogh costs, travel for investment actions, and commissions. Even partial deductions like TV and cable time, bookkeeping, home computer costs, and software can add up. consider a CPA if itemizing.
MENTIONED IN THIS ARTICLE
Rameen Mbinn
CMA
C.D
Fortune Builders
Wall Street Week
Financial News Network
Certified Public Accountant
CPA
Americans Add Record Installment Debt in January
The Federal Reserve reports Americans borrowed $7.22 billion more in installment debt in January than repaid, the third largest daily increase on record. Auto loans rose $2.89 billion, cash loans $2.54 billion, and revolving credit $1.96 billion, totaling $459.24 billion outstanding at month end.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Kathleen Cooper
Security Pacific National Bank
Los Angeles
Confidence dips as Ohio bank holiday spooks consumers
A Sindlinger survey shows weekly consumer confidence falling to 42 percent from 50.4 as Ohio governor closes 70 savings and loan associations. Report notes fear of banking system instability and expected further banking problems, with calls for a quick crisis resolution.
MENTIONED IN THIS ARTICLE
New York
Ohio
Sindlinger & Co. Inc
Richard Celeste
S&ls
Sindlinger
Federal Reserve Board
Albert E. Sindlinger
Polling, Research and Economic Forecasting
In Media
Treasury plans $16.25 billion bond sale next week
The Treasury Department announced a schedule to sell 16.25 billion dollars in notes and bonds to raise 12.875 billion in new cash and retire 3.375 billion in maturing securities. Auctions include 6.25 billion in four year notes on Tuesday, 5.75 billion in seven year notes on Wednesday, and 4.25 billion in 20 year bonds on Thursday, plus 14 billion in short term bills on Monday.
MENTIONED IN THIS ARTICLE
New York
Treasury Department
Group seeks to replace Storer board to push liquidation
An investor coalition from Coniston Partners said it plans to oust Storer Communications Inc. directors and liquidate the seven station broadcaster and cable operator. It argues liquidation would unlock value well above current market price as Capital Cities' $3.5 billion deal reshapes the sector. The group, holding 5.3 percent, aims to nominate 10 candidates at Storer's May 7 annual meeting.
MENTIONED IN THIS ARTICLE
New York
Storer Communications Inc
Storer
Capital Cities Communications Inc
Paul E. Tierney Jr
Wall Street
Committee For
Storer Communications
Tierney
Keith R. Gollust
Augustus K. Oliver
Coniston Partners
Gold prices surge with biggest daily gain in a decade
Gold jumped more than 35 dollars to 339 an ounce in hectic trading, an 11.8 percent rise on the New York Commodity Exchange, the largest daily gain in 10 years, following a February low of 282.
MENTIONED IN THIS ARTICLE
NEW York
New York Commodity Exchange
Foreclosures Fall in Fourth Quarter 1984
The Mortgage Bankers Association reports that foreclosure proceedings began on 0.20 percent of 9.5 million one to four unit loans in Q4 1984, down from 0.25 percent in Q3 1984, signaling a slowdown in new foreclosures.
MENTIONED IN THIS ARTICLE
Washington
Mortgage Bankers Association
Association
IBM to halt PCjr production as demand weakens
IBM said it will stop PCjr production indefinitely due to ample supplies and weakened demand after a strong Christmas season. Analysts note the move mirrors a broader slowdown in home computer sales, following Apple Computer Inc. announcing a one week halt in PC production.
MENTIONED IN THIS ARTICLE
New York
IBM
Apple Computer Inc
Station for Sale After Ownership Rule Change
Capital Cities Communications announced the sale of WKBW TV in Buffalo after revealing an agreement to buy ABC for 3.5 billion dollars. The move follows a government rule banning newspaper and TV station ownership in the same market.
MENTIONED IN THIS ARTICLE
Buffalo, N.Y
Capital Cities Communications Inc
American Broadcasting Cos. Inc
Wkbw-Tv
AMC Threatens Closure If UAW Demands Concessions
American Motors Corp. warned it would close its only U.S. car assembly plant if the United Auto Workers push for major changes in worker concession payback. The message was delivered to UAW leaders in Milwaukee and by mail to Kenosha workers assembling Renault Alliance and Renault Encore subcompact cars.
MENTIONED IN THIS ARTICLE
Detroit
American Motors Corp
U.S
United Auto Workers Union
UAW
Milwaukee
AMC
Kenosha
Wis
Late surge lifts Dow and blue chips on rally day
Stock prices rose late in active trading as a falling dollar and gold gains spurred buying. The Dow Jones average jumped 21.42 to 1271.09, its best one day gain in two months, with RCA, CBS, and ABC-Capital Cities among leaders on a broad up day across major indices.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Robert Stovall
Dean Witter Reynolds Inc
IBM
Merck
ABC
Capital Cities Communications
Capital Cities
RCA
NBC
CBS
Also Mentioned on This Page
UPI
Susan Bondy
Cedar Rapids Advertising Federation
al Swegle
Iowa Farmer Today
Keith Hemingway
Iowa City
Jim Stephens
Ainsworth
Dennis Earhart
Merchants National Bank
Charles Grassley
R-Iowa
Indian Creek Country Club
Marion
Kay Staab
Dow
American Stock Exchange
Standard & Poor
Iown
Securities Corporation of Iowa
FDIC
FSLIC
SCI
Second Ave
P.O
Cedar Rapids
Iowa
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