U.S. business expansion plans show slower 1985 growth
Commerce Department data from July and August indicate real capital investment will rise 5.8 percent in 1985, down from 1984's 15.3 percent surge. Analysts warn gains may not spark a strong rebound as imports erode domestic sales and manufacturing profits remain weak.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
U.S
Reagan
Commerce
Malcolm Baldrige
Lawrence Chimerine
Chase Econometrics
Chimerine
David Wyss
Data Resources Inc
David Ernst
Evans Economics
Merrill group wins SCM takeover battle
SCM Corp agreed to be acquired by a Merrill Lynch led group including SCM executives for about 906.5 million dollars, defeating Hanson Trust PLC. The deal values SCM at 74 dollars a share, 2 dollars above Hanson’s bid, and grants lock up options to buy Durkee foods for 80 million and chemical pigments for 350 million.
MENTIONED IN THIS ARTICLE
New York
SCM Corp
SCM
Hanson Trust PLC
Merrill Lynch & Co
Hanson
Merrill Lynch Group
Durkee Foods
Merrill Lynch Censured Over San Francisco Broker
The SEC censured Merrill Lynch in connection with a former San Francisco broker. The retired account executive was fired 22 years ago and is barred from future securities dealer associations.
MENTIONED IN THIS ARTICLE
Washington
Securities and Exchange Commission
Merrill Lynch, Pierce, Fenner & Smith Inc
San Francisco
Cadillac Sales Slip as 1986 Models Lag
Cadillac officials at a preview of the 1986 Eldorado and Seville cited stiffer competition and a slow Detroit factory startup. Braz Pryor, Cadillac sales manager, said the brand’s share fell to 2.8 percent of total industry from 3.2 percent in 1984.
MENTIONED IN THIS ARTICLE
Detroit
Cadillac
Braz Pryor
Frontier Airlines to help finance Stapleton replacement air hub
Frontier Airlines signed an agreement to finance part of a new airport planned to replace Stapleton International. It gains right of first selection after United for facilities and will participate in the master plan, paying a proportional share of the $1.1 billion cost via future rentals and landing fees.
MENTIONED IN THIS ARTICLE
Denver
Frontier Airlines
Stapleton International
Frontier
United Airlines
U S pharma executive urges crackdown on patent pirates abroad
William R. Miller of Bristol-Myers Co. told The Conference Board that the United States should crack down on countries allowing patent pirates and counterfeiters to victimize American firms overseas. He cited Taiwan where five infringers compete for one product and six for another.
MENTIONED IN THIS ARTICLE
New York
U.S
U.S Pharmaceuticals
William R. Miller
Bristol-Myers Co
Conference Board
Taiwan
Smokeless fag to be sold in Austin and Dallas area
Advanced Tobacco Products plans a smokeless cigarette rollout starting in Austin by week’s end. Company Chairman Gerald Mazur said the device, a nicotine solution product resembling a cigarette, will not burn and will expand next into the Dallas Fort Worth area.
MENTIONED IN THIS ARTICLE
San Antonio
Fireman's Fund Files for 32 Million Share Offering
Fireman's Fund Corp a unit of American Express filed a registration with the SEC for a public offering of 32 million common shares. 24 million will be sold by American Express and 8 million new by Fireman's Fund with 3.2 million more shares under over allotment. The issue will list on the New York Stock Exchange. American Express would own about 45 percent after the offering and the ESOP plans to hold about 6 percent. Underwriters are Shearson Lehman Brothers and Salomon Brothers.
MENTIONED IN THIS ARTICLE
NEW York — Fireman's Fund Corp
American Express Co
Securities and Exchange Commission
American Express
Fireman's Fund
New York Stock Exchange
Shearson Lehman Brothers Inc
Salomon Brothers Inc
Phillips plans $500 million asset sales as part of debt reduction
Phillips Petroleum announced it has sold or contracted to sell about $500 million in assets and aims for $1 billion more by year end. The move follows a $4.5 billion restructuring to ease a hostile takeover, with 500 jobs affected by a new Exploration and Production Organization led by J C Mihm.
MENTIONED IN THIS ARTICLE
Phillips
Bartlesville
Silas
Dan Harrison
Phillips Exploration and Production Organization
J.C. Mihm
Newmont Mining Co
Aminoi Netherlands Petroleum
Long Distance Choice Expands to Iowa Regions
The Gazette reports only Des Moines and Council Bluffs have completed the choice process between AT&T and smaller long distance providers. Cedar Rapids Marion area gets notices next spring, with most of Eastern Iowa in March and April. In cities with electronic switching, residents will choose a long distance carrier. smaller towns without that service will not have a choice.
MENTIONED IN THIS ARTICLE
Des Moines
Council Bluffs
Cedar Rapids
Marion
Mattix
Iowa
Waterloo
Iowa City
Burlington
Dubuque
Quad-Cities
Market suffers steep five week loss on earnings fears
U S stocks dropped with the Dow sliding 14.01 to 1319.44 as technology, financial, telephone and aerospace shares led declines. Volume reached 100.38 million on the NYSE while futures-driven selling and weak earnings outlook clouded the outlook for Q3 and Q4.
Guttenberg Terms New Industry For Local Park
Illinois Tool Works will locate a 10 000 square foot facility in Guttenberg's industrial park to manufacture screws bolts and other fasteners employing up to 25 people initially eight to ten hired at first. The plant will begin production January 1 under a 10 year lease with renewal option.
MENTIONED IN THIS ARTICLE
Guttenberg
Illinois Too! Works
Marquess Goeppinger
Guttenberg Economic and Industrial Development Committee
GEIDC
Elgin
Ill
Iowa Development Commission
Midwest
GEICC
Illinois Tool Works
Goeppinger
Products Unlimited
Small firms cite taxes rates and credit worries for 1986
Marshall Minnesota owners express gloom over 1986 as surveys show high taxes and interest rates as top worries. A Southwest State University study of 5 000 small businesses with a 62 percent response finds 33 percent expect lower profits next year 43 percent predict higher profits and 22 percent see improvement. Credit problems alarm 95 percent of owners.
MENTIONED IN THIS ARTICLE
Marshall, Minn
Southwest State University
Small Business Development Center
al Hattis
AEGON Sells Crownx Stake for 94 Million in Netherlands
AEGON nv announced an agreement in principle to sell its roughly 20 percent stake in Crownx Inc of Toronto for about 94 million dollars. The sale, expected to yield a 12 million dollar profit credited to shareholders equity, is to be acquired by two Toronto investment bankers. Crownx includes Crown Life Extendicare and Crowntek. The stake was bought in 1982 as AEGON looks to broaden North American operations and avoid conflicts of interest.
MENTIONED IN THIS ARTICLE
Aminoil Netherlands
North Sea
Phillips
Cook Inlet
Alaska
West Texas
Wyoming
Netherlands
General American Oil Co
West
Aminoil Inc
Colorado
Alabama
The
Hague
Aegon Nv
Holland
Life Investors of
Cedar Rapids
Crownx Inc
Toronto
AEGON
Crownx
North America
No shift in long distance rules keeps AT&T in hold
FCC Chairman Mark S. Fowler said deregulation of AT T long distance is premature and the shift to competitive long distance should not end government rate setting. AT T Chairman Charles L Brown argued for ending subsidies and government discounts to competitors as the pace of competition continues.
MENTIONED IN THIS ARTICLE
Washington
At&t
Federal Communications Commission
Mark S. Fowler
American Telephone & Telegraph Co
Charles L. Brown
Brown
Fowler
Senate Commerce Subcommittee On Communications
EDS Wins $200 Million USDA Office Automation Contract
EDS, a GM subsidiary, announced it won a $200 million, 10 year office automation contract with the U S Department of Agriculture. The firm will be prime contractor to integrate computer systems in 5 000 offices.
MENTIONED IN THIS ARTICLE
Detroit
Electronic Data Systems Corp
General Motors Corp
U.S. Department of Agriculture
EDS
Also Mentioned on This Page
MONEY
Merrill Group
SCM Takeover
Frontier Commitment
Q&a
Wall Street
Charles Jensen
MKI Securities Corp
Thomas Czech
Blunt Ellis & Loewi
Milwaukee
NYSE
SCM Management
Merrill Lynch
Britain
Richardson-Wicks
Unilever
Amoco
Atlantic Richfield
Exxon
Nynex
Southwestern Bell
US West
Echlin
Standard & Poor
S&p
Crown Life
United States
Canada
Extendicare
Crowntek
Smulekoffs
SCI
Second Avenue
SIPC
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