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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 20, 1986
Page
17
Des Moines report shows Iowa Insurance Division collecting about a third more for consumers in 1986. August total 105000 and eight month total 772000 as staff broadened to mediate disputes and handle complaints.
Iowa-Illinois Gas and Electric Co. reports saving customers about 35000 daily since Sept 12 by spot buying gas on the open market. Over 30 days this totals about 1 million, equating to roughly 24 extra dollars in annual heating costs per customer.
Precious metals rally led by gold as a weak dollar bolsters inflation expectations. Gold rose about 18 points to around 436 an ounce on the Commodity Exchange, the highest since March 1983, while bullion at a New York bank quoted at 433.50 an ounce. The dollar slid to a postwar low against the yen, trading near 152 yen in New York and 151.85 in London.
Union officials say nearly 800 Northwest Airlines workers are being laid off with hundreds more possibly relocated to preserve jobs as the carrier merges with Republic Airlines. Notices have gone to at least 300 mechanics baggage handlers and station agents as combined work forces total about 31 000 worldwide. Cedar Rapids not listed among layoff cities.
In Denver AP reports the first of four unions representing former Frontier Airlines staff has ratified Continental Airlines plan to take over the Denver operation. The union members are operation managers or dispatchers, of which about 36 workers remain.
Mazda announced a further extension of its reimbursement program for head gasket repairs on 1979 to 1982 Mazda 626 cars and 1979 to 1984 B2000 pickups. The extension runs through Dec 31, 1986, preserving the prior eligibility through Feb 28, 1986 and continuing a five year 60,000 mile free repair warranty at Mazda dealers.
DES MOINES AP Separate billing will begin for Iowa Gas and Iowa Power as they operate as distinct entities. Iowa Gas was bought by Midwest Energy of Sioux City in 1985 while Iowa Power remains owned by Iowa Resources in Des Moines. KEOKUK AP Foote Mineral Co won a permanent injunction limiting activities of union members striking its Keokuk plant. Local 148 IUOE had held a May 2 strike at the facility.
U S personal incomes rose 0.4 percent in August while consumer spending jumped 1.1 percent led by autos. Analysts doubted the strength citing July and June revisions and the auto-led surge may not signal broader growth.
The Dow fell 11.53 to 1762.65 as triple witching hour passed with little volatility. USX led gains, while precious metals stocks rose on higher gold prices. Nasdaq and S&P indices showed mixed movements amid rising volume on the NYSE.
Ford says preliminary 1987 prices will be 3.2 to 9 percent higher than 1986 values with final base prices due October 3. Toyota U S A posts an average 3.3 percent rise. Escort Pony up 3.2 percent to 6436. Taurus GL up 3.2 percent to 11498. Grand Marquis LS up 9 percent to 15672.
Welsh workers in Japanese owned plants in Wales show lower costs and higher productivity than in Japan. Six of ten firms say productivity is as good or better, nine report no strike days since 1980, seven use unions, six have single unions. Survey by Arthur D. Little for the Welsh Development Agency presented to Kei Dan Ren.
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