Hertz Chief recounts rental woes and RCA sale decision
Hertz Chairman Frank Olson recalls RCA’s 1982 decision to sell Hertz, the sale obstacle of $871.5 million debt, and the later RCA reversal as Hertz maintains a 38 percent U.S. market. He cites industry strikes, price wars, and premium giveaways as past pressures on the company.
MENTIONED IN THIS ARTICLE
James Peltz
Associated Press
New York
RCA Corp
Hertz Corp
Hertz
Frank A. Olson
Olson
RCA
San Francisco
U.S
Barrett Transportation
City College of San Francisco
Barrett
Shopping around saves money on loans study says
Purdue University's Credit Research Center finds large rate variation in Illinois and Arizona for new car loans after deregulation. Credit unions offered lowest rates while finance companies charged the most, with Illinois rates 9 to 24.9 percent and Arizona 12 to 19.9 percent. Average market rate around 14 percent.
MENTIONED IN THIS ARTICLE
Louise Cook Associated Press
Purdue University
Credit Research Center
A. Charlene Sullivan
University
West Lafayette
Ind
Sullivan
Arizona
Illinois
Purdue
Research Center
Blue chips gain favor as investors weigh quality over penny stocks
Wright Investors Service says blue chip stocks may lead market leadership while speculative penny stocks wane. It notes institutions shifting funds from the bluest chips to the bottom fifth of NYSE stocks, where many show earnings deficits but overall quality is rising in relative appeal.
MENTIONED IN THIS ARTICLE
New York
Penny Stock Performance Digest
Al-Fassi Ali Consortium
Wright Investors’ Service
Wright
New York Stock Exchange
Commerce Department reveals upcoming August retail sales data
The schedule lists August retail sales due Tuesday, July inventories on Wednesday, July consumer credit and auto industry data on Wednesday, and unemployment claims plus Fed money supply figures for the week ending September 7 and week ahead.
MENTIONED IN THIS ARTICLE
Commerce Department
Consumer Credit
Auto Industry
Labor Department
Federal Reserve
Multiple professional society meetings in Cedar Rapids and nearby towns
The Northeast Iowa ASME tours Ertl Co. in Dyersville with 6 30 p.m. start and 8 30 p.m. tour. reservations due by 4 p.m. today. Other events include Bren ton Bank’s Bruce Brubaker on Bank Credit Card Fraud, Jefferson High’s William Jacobsen on Accelerated Learning, CRIABWA Boss Night at Indian Creek Club, a Life Underwriters panel at the Roosevelt, and more lectures at the Sheraton Inn and Longbranch Supper Club.
MENTIONED IN THIS ARTICLE
Iowa
American Society of Mechanical Engineers
Ertl Co
Dyersville
Bruce Brubaker
Brenton Bank and Trust Co
Cedar Rapids Consumer Credit Association
Longbranch
William C. Jacobsen
Jefferson High School
Cedar Rapids
Hawkeye
American Society For Training and Development
Roosevelt
Criabwa
American Business Women’s Association
Indian Creek
Larry Hunter
John Leland
Pat Lester
Cedar Rapids Association of Life Underwriters
Bim Johnson
Money rates and yields across U S financial markets
Friday national money rates show Prime at 11 percent and Discount at 814 basis points. Broker call loan 10.37 to 10.50, Fed funds high 9.54 low 9.5 last 9.0 percent, and dealer commercial paper 30 to 180 days at 9.25 to 9.55 percent.
MENTIONED IN THIS ARTICLE
Finance Company
Bankers Acceptances
Treasury
Merrill Lynch
Telerate Systems Inc
Sun Oil eyes closing Marcus Hook refinery in Pa
Sun Co. weighs closing its Marcus Hook Pennsylvania refinery with 1 400 workers amid weak demand. Other options include selling or converting the plant or upgrading equipment. Decision expected by January after October study.
MENTIONED IN THIS ARTICLE
Radnor
Sun Co
Marcus Hook
Sun
Dennis Byrne
Sun Refining and Marketing Co
Sunoco
Byrne
Tulsa
Okla
Toledo
Ohio
Yabucoa
Puerto Rico
Sam Hutchinson
Oil, Chemical and Atomic Workers Union International
Also Mentioned on This Page
Frank Olson
Financial Page
Jim Cole
Millhiser Smith Agency. Inc
Oakland Road
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