Housing Edges Up but Economy Still Faces Slow Growth
After three monthly declines U S housing construction rose 0.4 percent in August but analysts say the gain is modest. Single family builds may rise with lower rates while apartments struggle due to high vacancy and tax-code changes. Other data show factory utilization near 79 percent and oil imports at six year highs. economists expect only a modest 1987 upturn.
MENTIONED IN THIS ARTICLE
John C. Given
U.S
Federal Reserve
America
American Petroleum Institute
National Association of Business Economists
Association
Texas Air Targets People Express in Federal Approval Push
Texas Air plans to urge that People Express faces failure to win Transportation Department clearance for its $125 million takeover with Frontier Airlines at $176 million. The move, led by Frank A. Lorenzo, aims to fuse People Express with Continental Airlines to build a large low cost network while addressing debt and bankruptcy issues.
MENTIONED IN THIS ARTICLE
New York Times
New York
People Express
Texas Air Corp
Texas Air
Transportation Department
People
Frontier Airlines
Frank A. Lorenzo
Lorenzo
Newark International
People’s
Eastern Air Lines
Continental Airlines
United
American
Continental
Eastern
Florida
The
Frontier
Fares raised by People Express to offset slow fall traffic
People Express Inc. said it increased fares by an average of 9.5 percent on Wednesday to offset slower autumn business. Spokesman Russell Marchetta said the rise is a seasonal change and not connected to the planned sale to Texas Air Corp. Fares go up by $4 to $10 depending on the itinerary.
MENTIONED IN THIS ARTICLE
Newark
N.J
People Express Inc
Russell Marchetta
Texas Air Corp
Marchetta
ALCOA to Move HQ Unit to Davenport Quad-Cities
Aluminum Company of America names Davenport area as worldwide headquarters for its flat rolled products unit. Tim Wilkinson says 10 to 15 Pittsburgh staffers will relocate to the Quad-Cities, not altering Davenport plant leadership of about 2,700 workers.
MENTIONED IN THIS ARTICLE
Davenport
Aluminum Company of America
ALCOA
Tim Wilkinson
Pittsburgh
Quad-Cities
Teleconnect to Add 50 Jobs and Open Regional Offices
Teleconnect plans 50 new Cedar Rapids telemarketers, boosting staff to about 1,100 with 800 in Cedar Rapids. Two new regional offices will open in Columbus Ohio and New Haven Connecticut, with a mid Atlantic location to be announced. The move supports growing fund raising for colleges universities and health groups and expands national telemarketing capacity from Cedar Rapids headquarters.
MENTIONED IN THIS ARTICLE
Bruce Fishwild
Gazette
Cedar Rapids
United States
Teleconnect Co
Columbus
Ohio
New Haven
Conn
mid-Atlantic
Texas
West Coast
Frank Fite
Fite
Teleconnect
University of Pennsylvania
Ohio State University
Southern Methodist University
Iowa Public Television
Ohio State
New York Area
Iowa National Mutual Insurance Co
Mixed Stock Session Leaves Dow Lower. Broad Gains Vary
U S stocks closed a mixed session as the Dow Jones average fell 9.14 to 1 769.40 on light volume of 141.04 million on the NYSE. The broader market posted gains with the NASDAQ up 3.23 to 346.90 and the S and P indices mostly softer or steady. Procter and Gamble and DuPont slipped while Honeywell surged on breakup or major transaction rumors and Viacom traded actively after a buyout bid emerged.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock _ Exchange
Wall Street
NYSE
Dow
Procter & Gamble
DuPont
International Business Machines
Honeywell
Consumers Power
Dow Chemical
Midland
Viacom International
Exchange
Standard & Poor
S&p
No insurance on Tylenol recall ruling
A federal judge ruled that Johnson & Johnson must pay the $100 million Tylenol recall costs from its subsidiary McNeilab Inc. because the policies did not cover the pretax expenses and J&J chose not to carry recall insurance. The decision notes no insurer liability and cites reserves already set by the company.
MENTIONED IN THIS ARTICLE
Newark
N.J
Johnson & Johnson
Chicago
McNeilab Inc
J&j
U.S
Maryanne Trump Barry
Robert Kniffin
New Brunswick
Also Mentioned on This Page
MONEY
Rockwell
Rockwell International Corp
Willard Rockwell
Allegheny International Inc
Astrotech International Corp
Pittsburgh Post-Gazette
Allegheny
Conoco
Houston
Conoco Inc
Gulf of Mexico
Nippon Mining Co
Louisiana
Montana
Colorado
Alabama
Drake University
Drake
Midwest
Dow Down
S. Dubuque
Lowe City
Lowa
New York Stock Exchange
SIPC
Allen's
Sallen
BUICK
Cadillac
Oldsmobile
First Avenue
Nova University
Carla Knutson
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