Dow Jones sinks 108 points in first ever 100-point drop
Extreme market rout drives the Dow down 108.36 to 2246.73 as volume sets NYSE records. Analysts blame trade and rate fears, with selling sweeping through top and mid listings. Weekly loss near 235 points amid a wave of panic selling and warnings of further volatility.
MENTIONED IN THIS ARTICLE
New York
E.F. Hutton & Co
Dow Jones
New York Stock Exchange
Zinder
Robert Farrell
Merrill Lynch
Stock market rout hits major names in takeover turmoil
The market fell as blue chips including IBM Exxon Ford American Express and Eastman Kodak dropped amid takeover battles. Newmont Mining tumbled after a Delaware court upheld a strategy against a Pickens bid. Eastern Iowa stocks mostly fell, with Procter and Gamble and Quaker Oats among big losers. Trans World Airlines rose as Teahn proposed private takeoff terms. Overall NYSE was lopsided with 1,744 down, indices down, and heavy turnover.
MENTIONED IN THIS ARTICLE
Starmovaurew
International Business Machines
Exxon
Ford Motor
American Express
Eastman Kodak
Newmont Mining
Delaware
Newmont
T. Boone Pickens
Iowa
W.R. Grace
Longview Fibre
General Mills
Weyerhaeuser
Square D
Procter and Gamble
Quaker Oats
Kidde
ADM
Trans World Airlines
Carl Teahn
Hawkeye Nut Co Closes After 41 Years in Cedar Rapids
Reuben Olson and Helen Arnold Olson announce the Hawkeye Nut Co will close today after opening October 3, 1983. The couple will finish a busy catering schedule through the month, leaving Cedar Rapids with a lasting catering legacy for performers at the Five Seasons Center and a staff of four full time workers and 14 part time staff.
MENTIONED IN THIS ARTICLE
Sazette
John McIvor
Reuben Olson
Helen Arnold-Olson
Hawkeye Nut Co
Andrew
First Ave. SE
Neien
Helen
Federal Housing Authority
Department of Housing and Urban Development
Olympic Federal Savings
Reuben
Chicago
Duane Arnold
Town Electric
Cedar Rapids
Teleconnect in Cedar Rapids negotiates El Kahir building purchase
Teleconnect Co expands in Cedar Rapids negotiating for the three story El Kahir Shrine building across from its Fifth Street and Second Avenue SE location. An out of town Teleconnect rep holds a 45 day purchase option while Shrine official Ketelsen cites a potential bid but declines details.
MENTIONED IN THIS ARTICLE
Teleconnect Co
Cedar Rapids
Teleconnect
Fifth Street
Second Avenue SE
Teleconect
Johnny Ketelsen
Ketelsen
Joyment
Iowa Insurance Commission
Iowa National Mutual Insurance Co
American Airlines sues Texas Air in Fort Worth court
American Airlines files a lawsuit in Fort Worth seeking over 100 million dollars in damages. The suit accuses Texas Air Corp. of using illegal tactics to persuade travel agencies to abandon American's Sabre system for Texas Air's System One.
MENTIONED IN THIS ARTICLE
Fort Worth, Texas
American Airlines
Texas Air Corp
Texas Air
State District
Fort Worth
American
Sabre
Local brokers urge calm as stock drop seen as buying chance
Iowa City broker Jeff Barta says the week's decline is an opportunity to buy at lower prices and await new highs. Cedar Rapids' Rande Lehmkuhl notes rising rates push investors to fixed returns while institutional and foreign buying drive activity. experts see healthy corrections and potential rebound. Brokers stay optimistic, comparing to Japan's pullback and possible renewed highs.
MENTIONED IN THIS ARTICLE
Uus
Jeff Barta
Edward D. Jones and Co
Iowa City
Rande Lehmkuhl
Shearson Lehman Brothers Inc
Cedar Rapids
Lehmkuhl
David R. Halfpap
Equities
MidAmerica Management Corp
Life Investors
Dave Faribault
PaineWebber
Honeywell admits overcharges in defense contracts
Honeywell Inc says internal review found labor overcharges on defense contracts and that some Space Systems Group managers were disciplined. The company cooperates with a separate Defense Department probe, with spokeswoman Kathy Tunheim offering few details.
MENTIONED IN THIS ARTICLE
Honeywell
Clearwater
Also Mentioned on This Page
Standard & Poor
S&p
American Stock Exchange
Hawkeye Nut
Olsons
Heather Sloman
el Kahir
Clark McLeod
Reeconnect Board
Etelsen
Sacuna
Oelkers
7Th St
Kurt Rogahn
Gail Cooper-Evans
Barta
MONEY
J New York (Or
PaineWebber Inc
Manhattan
Joseph P. Tota
George B. Fahmy
Tota
Fahmy
Gary D. Eder
Eder
Paine Webber
The
Gazette
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