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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 21, 1983
Page
20
Large crossword puzzle with themed entries and a bridge play narrative. Explains a hearts game where South misplays after a three no trump bid, leading to down three, and outlines the winning line once trump breaks are revealed. Includes puzzle clues and miscellaneous entries.
The Dow Jones Industrial Average rose 15.25 points to 1,249.19, a new peak, as rates declined on expectations the Fed may ease policy. Several blue chips led gains, while broader indices lagged the highs seen in late June and early July.
A reader asks if a firm can limit seat allocations for season baseball tickets it buys for staff. The advisory explains the company may restrict use but warns against claiming the cost as a general recreational expense if benefits go to a select group, which could invite IRS scrutiny. Second, verify that deductions truly benefit all employees before reporting.
A list of milestone Dow Jones dates shows when the index first topped 100, 500, 1,000 and 1,200, including notable highs and crashes from 1906 to 1983. It tracks closes, one day gains and bear market lows with dates and closing levels.
The Commerce Department reports Americans' personal income rose 0.2 percent in August while personal consumer spending dropped 0.3 percent. Factors including a telephone workers strike and Hurricane Alicia reduced wage gains and rental income, with total income at an annual rate of 2.76 trillion dollars and the savings rate rising to 5.2 percent.
US West Direct will publish telephone directories across a 14 state region including Iowa. The new subsidiary employs 2,300 people with four production centers, one in Omaha, and 19 sales offices.
The Senate Commerce Committee did not finalize approval of a bill to end a special telephone rate hike set to take effect January 1. The panel deferred decisive action and will consider the measure again next week.
American Motors Corp. announced the sale of its truck making unit AM General to LTV Corp. for 170 million in cash and notes. AMC also received a 20 million dividend from AM General as part of the deal. The transaction was finalized in Southfield, Michigan.
Detroit reports General Motors will keep the Skylark sedan in production through 1987 while the Chevrolet Citation hatchback remains in production through the 1988 model year. Salomon Brothers paid the government 311.1 million dollars for warrants on 14.4 million Chrysler shares at 21.60 each, then received a six month note and warrants retirement.
New York AP report says ACF Industries directors asked management to explore options to maximize value in response to Icahn Holding Corp takeover bid while not closing the door on Icahn. Board seeks highest value for the company and its investors.
Kmart launches a nationwide effort urging enforcement of laws banning manufacturers from dictating retailer prices. Chairman Bernard Fauber says consumers risk losing discount brand-name merchandise as 3,000 signature cards per store are distributed to press Congress and the Justice Department to uphold fair trade.
Iowa Securities Division notes two of three Florida indictments involve firms already under Iowa cease and desist orders U S Oil and Gas Corp and Eagle Oil and Gas Corp. About 200 such companies operate schemes selling chances on oil and gas leases. Indicted executives included Henry Scott Harris Edward F Harris Gordon Wolfson Martin Rotberg J Leonard Diamond and 19 firm employees.
Shareholders approve the merger making Stokely-Van Camp a Quaker Oats subsidiary at 77 dollars per common share. Frank J. Morgan and five other Quaker executives join the Stokely board as the deal unfolds in Indianapolis.
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