Amana to test four microwave models with Montgomery Ward
Amana Refrigeration announces a test market with Montgomery Ward in 16 Chicago area stores from Oct 13 to Jan 15 1986. Four models including three full size microwaves and one compact unit will be sold, boosting Amana’s reach while maintaining traditional independents. Raytheon notes overall earnings gains despite softness in some segments.
MENTIONED IN THIS ARTICLE
George C. Ford
Amana Refrigeration Corp
Montgomery Ward & Co
Ward
Chicago
Amana
Montgomery Ward
Chicagoland
Indiana
Raytheon
Iowa National Insurance seeks new coverage for policyholders
Iowa Insurance Department officials directed 1,200 Iowa National Mutual agents to secure new coverage as the Cedar Rapids insurer begins liquidation effective midnight November 9. The firm, licensed in 34 states, faces over 50 million dollars in reserve shortfalls and failed to attract buyers after three weeks of efforts.
MENTIONED IN THIS ARTICLE
Dale Kueter
Iowa Insurance Department
Iowa National Mutual Insurance Co
Bruce Foudree
Cedar Rapids
Iowa National
Iowa
Florida
North Carolina
Illinois
Minnesota
Colorado
Nebraska
Foudree
Gazette
Leo Lala
Lala
Emil Molin
Hormel union denies unfair labor charges
In Austin Minnesota striking workers are said to be exercising First Amendment rights and not violating federal labor law. Local UFCW president Jim Guyette maintains the union is not committing a secondary boycott in its campaign against First Bank System, Hormel's banker, despite an NLRB inquiry filed this week.
MENTIONED IN THIS ARTICLE
Minneapolis
Geo. A. Hormel & Co
Austin
Hormel
National Labor Relations Board
NLRB
Jim Guyette
P-9
United Food and Commercial Workers Union
First Bank
U.S. auto plants run 170,703 cars this week
Ward's Automotive Reports shows U.S. automakers assembling 170,703 cars this week, down from 174,826 last week but higher than 161,330 in the same week a year ago. Detroit report notes production levels and compares weekly figures.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Ward
Automotive Reports
The
Industry Journal
Ford to Sell Rouge Steel Amid Integrated-Carmaker Shift
Ford Motor Co. says the steel industry is highly specialized and no longer fits an integrated carmaker model. Philip Benton, VP of diversified operations, stated Ford may unload Rouge Steel Co. or place it in a joint venture for the right price.
MENTIONED IN THIS ARTICLE
Dearborn
Mich
Ford Motor Co
Philip Benton
Ford
Rouge Steel Co
Market rallies to close higher on IBM and autos
The Dow rose 11.87 to 1339.94 as IBM posted a third quarter profit of 2.40 a share, down from last year. Auto stocks benefited from mixed economic data with Ford gaining 1.14, General Motors up 1.4, and Chrysler up 0.38, aiding the day’s gains.
MENTIONED IN THIS ARTICLE
NEW York
International Business Machines
New York Stock Exchange
IBM
Ford Motor
General Motors
Chrysler
Blue-ribbon panel predicts slow growth in 1985 86
A 65 member Business Council panel forecasts 1985 growth at 2.1 percent and 1986 at 2.5 percent with rising prices and interest rates. It cites a record consumer debt, a large trade deficit, and expected tax increases as factors behind the sluggish outlook. Unemployment is seen near 7 percent through 1986.
MENTIONED IN THIS ARTICLE
Hot Springs
The
Business Council
U.S
James D. Robinson III
Council
American Express Company
Continental Illinois eyes more bank acquisitions in Illinois
Continental Illinois Corp. says it may expand in Illinois as part of a broader business plan after a federal rescue. It denies reports of a $175 million acquisition fund, while regulators and local banks scrutinize use of FDIC aid and potential competition against Penn Square fallout.
MENTIONED IN THIS ARTICLE
Chicago
Continental Illinois National Bank & Trust Co
Continental Illinois Corp
Citicorp
James R. Thompson
Illinois House
Illinois
Continental Illinois
The
Chicago Tribune
Continental
Business Week
Daily American Banker
Federal Deposit Insurance Corp
FDIC
Continental Illinois’ Equity
Penn Square Bank of
Oklahoma City
Northbrook
United wins tentative OK to buy Pan Am routes
United Airlines wins tentative government approval to acquire Pan Am Pacific division, with final clearance and presidential sign off to come. The deal would transfer 18 jumbo jets and about 2,700 Pan Am workers, including 410 pilots, to United. Northwest Airlines criticized the ruling as anti competitive and may sue.
MENTIONED IN THIS ARTICLE
United
Pan Am
Washington
United Airlines
Pacific
Pan American World Airways
Transportation Department
Transportation
Elizabeth Dole
United States
Asia
Department
Reagan
Japan
Northwest Airlines
North Pacific
U.S
William C. Wren
Northwest
Ferris
Dole
Reagan Aides Eye International Superbank for Debt Aid
Treasury officials discuss an international superbank to speed loans to developing nations. Originating with Paul Volcker, the concept would ease new lending by consolidating lender approvals and potentially assign voting power by contributions. Baker and Darman say the idea aims to shorten negotiations and bolster private and multilateral lending.
MENTIONED IN THIS ARTICLE
Washington
Reagan
Treasury Department
Federa Reserve Board
Paul Volcker
Treasury
James Baker
Washington Post
Volcker
Baker
World Bank and
International Monetary Fund
Seoul
South Korea
Richard G. Darman
Business Council
World Bank
IRS reverses spousal consent rule on early retirement benefits
The IRS dropped its July ruling requiring written spousal consent for most early retirement pension benefits, while keeping consent in cases where benefits stop at the worker's death. The reversal follows criticism that the provision overextended the law and risked domestic disputes.
MENTIONED IN THIS ARTICLE
IRS
Jonathan Peterson
Angeles
Internal Revenue Service
Tony Malizia
Buck Consultants
San Francisco
Also Mentioned on This Page
Amana Refrigeration
Lexington, Mass
Money Briefs Hormel Union
John Hoos
Hewitt Associates Consulting
Lincolnshire
Ill
Foreign Exchange
Australia
Belgium
Britain
Canada
Thy
France
Holland
Hong Kong
Ireland
Israel
Italy
Mexico
Norway
Saudi Arabia
Spain
Sweden
Switzerland
Turkey
Germany
First American Bank of New York
Shearson
Lehman Brothers
Banks of Iowa
First Interstate
Hawkeye BanCorp
Life Investors, Inc
Mid-America
Miracle Vya
Nash Finch
Penwest
TLS
United Fire & Casualty
Wilson Foods
SEA Emer Ny Ea Ee
Cates
NTS
Money Market
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