Dow Jones hits record as market rides rate-cut hopes
The Dow rose 32.20 to 1,810.70 on brisk volume of 161.46 million NYSE shares, aided by expectations of further credit easing and a lower CPI. Blue chips such as Merck, DuPont, Kodak and American Express led advances, while bank stocks and construction issues also strengthened. The NYSE composite edged up 1.48 to 136.70 amid broad gains and 195.45 million shares traded.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Wall Street
Albert Wornflower
First Boston Corp
Merck
DuPont
International Paper
Minnesota Mining & Manufacturing
Eastman Kodak
American Express
Gram
Ashland Oil
Belzberg Family
Canada
Ashland
Citicorp
Manufacturers Hanover
Bankers Trust New York
Chemical New York
First Wisconsin
Mellon Bank Corp
Kaufman & Broad
Potlatch
U.S. Home
Richard Coffey Named President of Vigortone Ag
Richard L. Coffey is named president of Vigortone Ag Products Inc., Cedar Rapids, while remaining vice president of Pacific Molasses Co. The move follows the resignation of Richard Swarzentruber. Vigortone, with HQ at 5264 Council St NE, is a leading U.S. maker of vitamin mineral livestock products with facilities in Marion Ohio Fremont Nebraska and Thomson Georgia.
MENTIONED IN THIS ARTICLE
M.J. Godfrey
Pacific Molasses Co
Richard L. Coffey
Vigortone Ag Products Inc
Cedar Rapids
Coffey
Vigortone
Pacific Molasses
Richard Swarzentruber
Swarzentruber
Hormel union fight grows as Austin strike persists
Jim Guyette, president of UFCW Local P-9 in Austin, vows to fight a trusteeship bid by the international union, calling it an absolute sham. About 75 strikers and supporters scuffled with cars at the Hormel plant as a Bloomington hearing April 7 considers ending the local’s strike and putting it under trusteeship.
MENTIONED IN THIS ARTICLE
Hormel
Allen Zack
UFCW
Bloomington
Minn
Zack
Guyette
Austin
International Union
P-9
Landrum-Griffen
Austin Meatpackers
Former bank official jailed for embezzlement in Iowa
David Binder, former Spencer bank vice president, sentenced in Sioux City to five months and 29 days in a federal prison camp for embezzling 55,600 dollars from Farmers Trust and Savings Bank in Spencer. He will serve five years probation and must repay the stolen funds after release. Binder was fired last May and pleaded guilty earlier this year.
MENTIONED IN THIS ARTICLE
Sioux City, Iowa
Spencer Bank
David Binder
Sioux Rapids
U.S. District Court
Sioux City
U.S
Asher Schroeder
Binder
Farmers Trust and Savings Bank
Spencer
Montgomery Ward to convert 40 percent of stores to specialty format
Montgomery Ward plans to change 117 of its 290 stores to a store within a store concept focusing on electronics and appliances by year end. The move follows a broader reorganization that trimmed catalogue operations and the Jefferson Ward chain, with about 6 percent of 1985 sales from discontinued lines. The shift may reduce about 65 HQ jobs in Chicago.
MENTIONED IN THIS ARTICLE
Chicago
Montgomery Ward & Co
Chico
Torrance
California
Montgomery Ward
Mobil Corp
Jefferson Ward
Bernard F. Brennan
Wards
Ward
Brennan
Agreement ends dispute between union and Chicago and North Western
Chicago and North Western Transportation Co. resolved a centralization dispute over crew calling with about 4000 conductors and other employees, ending a brief strike. The agreement reached March 20 followed a February 24 restraining order and a lawsuit, with the railroad planning to dismiss the case.
MENTIONED IN THIS ARTICLE
Union
Chicago & North Western
Chicago
Chicago & North Western Transportation Co
George Brant
Iowa
Illinois
Wisconsin
Michigan
Minnesota
Nebraska
Kansas
South Dakota
Wyoming
Missouri
North Dakota
U.S
Brian Duff
United Transportation Union
Brant
Stuart Gassner
February construction climbs as public works rebound
McGraw-Hill reports February U S total value of new construction contracts at a seasonally adjusted annual rate of 229.05 billion dollars, up 11 percent from January due to delayed public works projects and unsettled tax bond markets. Heavy contracts jump to 46.3 billion, nonresidential buildings rise to 76.8 billion, and new residential contracts edge to 105.9 billion.
MENTIONED IN THIS ARTICLE
New York
United States
McGraw-Hill Information Systems Co
F.W. Dodge
George A. Christie
Christie
Burger King replaces Herb campaign with Chicken Tenders
Burger King Corp rolls out a $30 million campaign for Chicken Tenders, a bite size fillet product fried in vegetable oil to rival McDonalds and KFC. The new ads use Ain't Nothing Like the Real Thing and begin Tuesday as Herb ends. Chicken Tenders go on sale Sunday in 6, 9, and 12 piece portions at more than 4,600 Burger King locations.
MENTIONED IN THIS ARTICLE
Miami
Burger King Corp
McDonald’s
Herb
Burger King
Also Mentioned on This Page
Federal Reserve
Law
Richard Coffey
MONEY
Washington
Treasury
Treasury Department
World Bank
China
Taiwan
Iran
Iraq
Afghanistan
Collins Road
Town
IRA
An Ira
Securities Corporation of Iowa
SCI
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