Major retailers post third straight monthly sales rise
United States retailers led by Sears Kmart and J C Penney show gains in September with Sears up 11 to 13.5 percent depending on inclusion of Simpson Sears figures, Kmart up 8.8 percent, and Wal Mart posting strong eight month gains amid weather influenced demand. Allied Stores and Carter Hawley Hales also report double digit September increases.
MENTIONED IN THIS ARTICLE
New York
Sears, Roebuck and Co
Sears-Simpson
Sears
Edward R. Telling
Kmart Corp
Troy
Mich
Kmart
Bernard M. Fauber
J.C. Penney Co. Inc
Penney
Wal-Mart Stores Inc
Bentonville, Ark
Allied Stores Corp
Carter Hawley Hales Stores Inc
Los Angeles
Allied Stores
Jordan Marsh
Maas Brothers
Stern’s
Brooks Brothers
Bonwit Teller and Garfinckel
S. Carter Hawley Hale
Carter’s
Carter Hawley Hales
Neiman Marcus
Bergdorf Goodman
Waldenbooks
Stocks soar to new high amid optimism on recovery
The Dow Jones rose 18.60 to 1,268.80 on heavy volume 118.27 million shares at the NYSE, the index closing at a record. Analysts note hopes for a smaller federal budget gap around 100 billion dollars and stronger retailer results boost sentiment. International Business Machines and Sears led gains while Puritan Fashions declined.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Donald Regan
Wall
NYSE
International Business Machines
Sears, Roebuck and Co
Securities
Merrill Lynch
American Express
Paine Webber
E.F. Hutton
Puritan Fashions
Standard & Poor
S&p
Wilson Foods posts 42.9 million loss amid Chapter 11 filing
Wilson Foods Corp based in Oklahoma City reports a net loss of 42.9 million or 7.31 a share for the year ended July 31. Sales reached 2.2 billion despite a three week meatpacking strike. Fourth quarter loss was 17 million on 436.5 million in sales. CEO Kenneth Griggy cites high pre filing labor costs, reduced hog supply and weak demand as key factors. Plant locations include Cedar Rapids Cherokee and Clarinda Iowa.
MENTIONED IN THIS ARTICLE
Wilson Foods Corp
Oklahoma City
Wilson Foods
Cedar Rapids
Cherokee
Clarinda
Iowa
U.S
Kenneth Griggy
Offi
Cer
Griggy
United Food and Commercial Workers
Songwriter testifies against record rent outlets
George David Weiss told Congress that cheap record rentals exploit his songs without compensation. He testified before the House Judiciary subcommittee as lawmakers consider a measure to outlaw rentals without the copyright owner’s approval. store owners argued the impact is overstated and a ban could force many shops to close.
MENTIONED IN THIS ARTICLE
Washington
George David Weiss
Congress
House Judiciary
Weiss
William Watts
Soundway Rent-Arecord
Columbia
S.C
Watts
First-time jobless claims rise as layoffs blamed
The Labor Department reports a 20,000 increase in first-time jobless claims to about 407,000 for the week ending Sept 24, marking the second weekly rise after three weeks of declines. The total drawing basic benefits fell to 2.876 million, the lowest in two years, with ongoing layoffs seen in weak-performing industries amid a still-sluggish recovery.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Monfort alleges rivals seek beef industry monopoly
In federal antitrust case Monfort of Colorado accuses Cargill Inc and Excel Corp of trying to dominate the Midwest beef sector by buying rivals and expanding plants. Ken Monfort testifies 90 percent of production sold nationwide as Excel could process 23 000 cattle daily if Land O' Lakes is acquired. Monfort seeks court to block deals and preserve competition. Monfort plants operate in Greeley Colorado and Grand Island Nebraska.
MENTIONED IN THIS ARTICLE
Denver
Monfort of
Colorado
Ken Monfort
Greeley
Excel
Missouri
Texas
Kansas
Nebraska
Land O’ Lakes Inc
Monfort
U.S
Sherman G. Finesilver
Cargill
Land O’ Lakes
Grand Island
Neb
Spencer Beef Division
AT&T mobilizes effort to block looming telecom bills
AT&T launches a major lobbying campaign to block pending House and Senate bills. It warns Congress will destroy competition and delay industry restructuring while urging employees and stockholders to flood Capitol Hill with letters. The FCC seeks a $2 monthly access fee to fund local subsidies as AT&T plans a rate cut.
MENTIONED IN THIS ARTICLE
Washington
American Telephone & Telegraph Co
Congress
House
Senate
At&t
House of Representatives
Bell System
Bell
Federal Communications Commission
FCC
Senate Commerce Committee
House Communications Subcommittee
Also Mentioned on This Page
Simpson- Sears Ltd
Canada
Simpson-Sears
Amy Ciesielczyk
PPG Industries
Barberton
Ohio
Chemicals Technical Center
Tele
Atch the Gazette
The
Cedar Et Ayo
Priorities Rapids
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