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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 17, 1992
Page
20
Nationwide dealer networks posted a 1.7 percent average net profit before taxes in 1991 led by parts and service operations. Some shops closed or laid off workers as the industry bundled profits from maintenance with slimmer new car margins.
The message notes she is currently busy implementing quality management teams and serving as an effective leader while coaching others for continuous improvement. A callback will occur once she finishes her coffee.
Britain suspended the pound from the European exchange rate mechanism after frantic efforts to stabilize the currency failed. EU finance chiefs met in Brussels amid fears Western Europe unity is fraying while the turmoil reverberates to the United States and global markets.
The European Community devalued the Spanish peseta by five percent and temporarily removed the Italian lira from the currency stabilization system after a six hour crisis meeting. The move followed Britain’s suspension of the pound from the exchange rate grid amid market volatility.
In southern Iowa the weeklong storm dumped up to 16 inches of rain. Lucas County reports 3,000 acres of corn and 1,000 acres of soybeans flooded. Officials warn millions in damages and possible total losses for soybeans, with corn losses of 20 to 30 percent.
United Technologies fell to 54.5, CyCare rose to 8.5, and General Mills rose to 73.0 as the Dow slipped 8.11 points to 3319.21 after a volatile session. Traders weighed British rate moves and the European Exchange Rate Mechanism ahead of a France referendum.
Iowa sav ings and loans posted 14.8 million in April through June up from 7.5 million a year earlier as regulators cite low rates. For the first half of 1992 Iowa thrifts earned 27 million, with national thrifts recording 1.27 billion in Q2 and a strong six months overall.
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