Time to end tight money says market adviser at Cedar Rapids
Bruce Fishwild reports Palmer Webber of Williamsburg Va says Fed restraint has gone too far and calls for a three to four point rate cut by Christmas. He criticizes military spending, urges reexamining programs, and notes housing, bond, and wage dynamics amid inflation causes.
MENTIONED IN THIS ARTICLE
Volcker
Cedar Rapids
Federal Reserve
Paul Volcker
Palmer Webber
Williamsburg
Troster, Singer Corp
New York
Webber
Chamber of Commerce
Cedar Rapids Country Club
Reagan
Lyndon Johnson
OPEC
United States
Stockman
Defense Weinberger
Stocks gain third straight as Reagan program looms
UPI reports a cautious third day of gains on Wall Street with the Dow up 2.09 to 849.98 as traders await Reagan tax cuts and spending cuts set to take effect. Volume dipped on Rosh Hashana, with mixed overseas markets and notable moves in General Portland Cement, Chicago Milwaukee, AT&T, and Procter & Gamble.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Reagan
Joseph Granville
London
Tokyo
American Stock Exchange
Sunbeam Sues to Block IC Takeover Bid
Sunbeam Corp files suit in Chicago to halt IC Industries bid of 32 dollars a share for up to 53 percent of Sunbeam. Suit alleges monopoly risk in refrigeration, claims IC misled the SEC and leaked data to aid stock purchases. IC says it would divest refrigeration units if approved.
MENTIONED IN THIS ARTICLE
Sony Corp
Castle & Cooke
Colt Industries
Penn Central
Hunt Brothers of Texas
Pc’s
Colt
Clorox
Purex
Procter & Gamble
Chicago
UPI
Sunbeam Corp
IC Industries
Sunbeam
Securities and Exchange Commission
Conoco Du Pont merger completed in historic takeover
Du Pont Co and Conoco Inc formally merged after a decade of bidding wars. The combined entity, valued at over 7.5 billion dollars, becomes the seventh largest U.S. industrial company with 1980 sales around 32 billion. Seagram holds about a 20 percent stake in the new company.
MENTIONED IN THIS ARTICLE
Stamford, Conn
UPI
du Pont Co
Conoco Inc
U.S
Conoco
Stamford
Oil and Coal Company
du Pont
Delaware
Fortune says Exxon wasted billions on synthesizer venture
Fortune magazine calls Exxon’s pursuit of Reliance Electric’s energy efficient motor synthesizer a managerial epic blunder with an estimated loss of at least 600 million dollars beyond the 15 million R&D loss. The article criticizes executives and consulting firms for overoptimistic assumptions and questions the venture’s value and feasibility.
MENTIONED IN THIS ARTICLE
New York
Upi
Exxon Corp
Fortune
Exxon
Reliance Electric Co
Cleveland
Reliance
Lewis Beman
Arthur D. Little Inc
Booz, Allen & Hamilton Inc
Morgan Guaranty Trust Co
Richard Baker
George Piercy
Also Mentioned on This Page
By Bruce Fishwild
Haig
Congress
Midwest
South
NYSE
National Association of Securities Dealers
General Portland Cement
Canada Cement LaFarge Ltd
Chicago Milwaukee Corp
Chicago Milwaukee
American Telephone & Telegraph
Univar
Amex
Dome Petroleum
Data Products
Numac Oil & Gas
Petro-Lewis
Guaranty
Guaranty Bank & Trust
FDIC
Ave. S.E
42Nd
St. LE
Jacolyn Dr
Conoco and
Magazine
Dain Bosworth
Energy Reserves Group
Wyoming
Energy Reserves
City State Telephone
New York Stock Exchange
First Street
S.E
Iowa
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!