Fed reports $7 billion M1 surge boosts economy fears
The Federal Reserve said money supply rose 7 billion in the week ending May 11, driving a total 12.9 billion gain over three weeks. Traders pushed rates higher as bonds fell, with three month Treasuries at 8.40 percent and comments from economists noting the unexpected upturn amid inflation worries.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Thomas Thomson
Crocker National Bank
San Francisco
Treasury
Paine, Webber, Jackson & Curtis Inc
New York Stock Exchange
Fed
Dow slides as week ends with 28 point loss
U S stocks drift lower in Friday trading extending a second straight weekly decline. The Dow falls 1.35 to 1190.02 as traders await the Fed money supply report showing a $7 billion jump.
MENTIONED IN THIS ARTICLE
Dow
NEW York
New York Stock Exchange
First Quarter Earnings Rise for Appliance and Jewelry Firm
First quarter earnings to April 27, 1983 show 1984 1982 operating revenues of 3.9 million and 3.4 million with a 9 percent decline. Net income logs 44.4 thousand and 5.9 thousand with a 65 percent change. Per share 35 cents and 6 cents. First quarter earnings are the second highest in the company’s history, aided by stronger sales of small and major appliances and jewelry.
JC Penney Q1 1983 profits dip amid merchandising shakeup
Officials said JC Penney stores and catalog centers earned slightly less than the prior year's first quarter while drug stores and insurance subsidiaries rose. The company plans major merchandising changes to drop appliances hardware and auto supplies from its product mix.
MENTIONED IN THIS ARTICLE
JC Penney
Carter Hawley Hale Stores First Quarter Results
Carter Hawley Hale Stores reports to April 30 1983 a net income of 6200 thousand with an 18 cent per share. Operating earnings rose 141 percent from the prior year while total revenue stood at 723200 thousand with a 639400 thousand result preceding a 16 percent gain. Waldenbooks operates two Cedar Rapids stores within the group.
MENTIONED IN THIS ARTICLE
Carter Hawley Hale
Waldenbooks
Cedar Rapids
Lucky Stores Reports Quarterly Results and Asset Sale Gain
Lucky Stores reports net income for the quarter with a gain from selling 13 Memco department stores in the Washington DC area. Without the gain, net income would rise 35 percent. Chairman S Donley Ritchey cites strong performance in food and department stores. Lucky operates Eagle supermarkets in the Midwest.
MENTIONED IN THIS ARTICLE
Memco
Washington, D.C
S. Donley Ritchey
Lucky
Eagle
Midwest
Dayton Hudson Reports First Quarter Earnings Mix
Dayton Hudson announces results for the first quarter ended April 30 1983 with net income 21.7 million and per share 45 cents. Officials say the jewelry sale contribution and 22 percent revenue gain are not expected to recur for the full year. Dayton operations include the Target and B Dalton Booksellers stores in Cedar Rapids.
MENTIONED IN THIS ARTICLE
Dayton
Cedar Rapids
Target
B. Dalton
Durable goods rise 2.4 percent in April signaling steady recovery
U S factory orders for durable goods jumped 2.4 percent in April led by household appliances and jet aircraft. The Commerce Department reported total orders at 81.9 billion dollars while shipments rose 0.5 percent to 80 billion.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Commerce
Robert Dederick
Dederick
Insurance against tax audit offered as Taxright policy
A new Taxright policy may cost 100 dollars annually and insures tax increases from IRS audits plus 1000 dollars for legal and accounting fees. Available first in California and Colorado, with plans for national rollout by year end, it targets honest taxpayers with CPA or tax lawyer prepared returns and caps at 100000 dollars per year. The policy excludes fraud, negligence, and penalties.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
California
Colorado
Taxright
Paul L. Genecki
Victor O. Schinnerer & Co
Walter S. Coppinger
IRS
Schinnerer
Central National Insurance Co
Omaha
Neb
Credit Life Insurance Company
Schinerer
Comsat unit bets on satellite to home TV service
Comsat subsidiary Satellite Television Corp STC said it will offer satellite to home TV by modifying SBS 4 satellite and leasing capacity from Satellite Business Systems. Service aimed for the Eastern time zone in fall 1984 rather than 1986.
MENTIONED IN THIS ARTICLE
Washington
Communications Satellite Corp
Satellite Television Corp
STC
Comsat
Wilson Foods Chapter 11 case gains support from consultant
Edward R. Black testified in Oklahoma City that Wilson Foods had justified Chapter 11 filing citing five year losses and non recurring gains masking operating weakness. He cited $37 million five year operations loss and $24 million third quarter loss this year, with hedging profits eroding as hog prices rose. The judge continued a hearing on an $80 million Citicorp line of credit as Wilson touts wage cuts and union talks to restore production levels.
MENTIONED IN THIS ARTICLE
Gary Peterson
Oklahoma City
Wilson Foods
Edward R. Black
New York
Black
Citicorp Industrial Credit of
Advertising Federation awards honor Cedar Rapids firms and individuals
Creswell Munsell Fultz and Zir bel of Cedar Rapids led with eleven first place Addy awards at the 15th Eye of the Tiger banquet in Iowa City. Three Arts Advertising followed with six firsts. Eagle Discount Supermarkets won Best of Show.
MENTIONED IN THIS ARTICLE
Creswell, Munsell Fultz
Zirbel
Cedar Rapids
Addy
Advertising Federation of
Three
Arts Advertising of
Federation
Highlander Inn
Iowa City
Iowa
Eagle Discount Supermarkets
Richard Meyocks
Creswell
Evelyn Camp
BHN
Harnischfeger announces 50 layoffs at Cedar Rapids plant
A Friday layoff at the Harnischfeger plant in Cedar Rapids cuts 30 factory workers scattered across the site. The spokesman calls it a small adjustment affecting about 9 percent of the 350 factory staff, with total employment near 700 including offices. He says orders have risen this year but failed to meet January projections, not signaling fewer orders overall.
MENTIONED IN THIS ARTICLE
Harnischfeger
Cedar Rapids
Also Mentioned on This Page
Donald Maude
Merrill Lynch
Pierce, Fenner & Smith Inc
Federal Reserve
Wall Street
Arkla
Laclede Gas
Texas Gas
Wicor
Energy Department
Collins Foods
ACF Industries
Exchange
Standard & Poor
S&p
Kmart
J.c.penney
Carter Hawley Hale Stores
Lucky Stores
Dayton Hudson
Hernando de Soto
Mississippi River
Lkegal Coach
Wilson
Advertising Federation
Busby Productions
Des Moines
The
Cedar Rapids Gazette
Marketing Strategies Inc
Gary Port Art Studio
Lisbon
Gloria Aleff & Associates
Waverly
Kezt Radio
Ames
Who-Tv
Robert E. French
Marion
Michael Chadwell & Associates
Kgan-Tv
Type 2 Inc
LeFebvre Corp
Cedar Rapids Symphony Orchestra
Sheraton Inn
33Rd Ave
S.W
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