Allied Bendix Marietta settle brawl to end Wall Street turmoil
Allied agrees to acquire Bendix for about 2 billion in a swap while Marietta keeps independence with Allied as its largest shareholder. Bendix would stay based in Southfield Michigan and Agee becomes Allied president. The deal reshapes control and includes a 10 year stand still with Marietta and a complex share exchange.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Allied Corp
Bendix Corp
Martin Marietta
Allied
United Technologies
Marietta
Bendix
Morristown
N.J
William Agee
Southfield
Mich
Allied- Bendix
Allied and
Agee
Allied-Bendix
U.S
Woolworth to close 336 Woolco stores in 1983
F W Woolworth Co announces the closure of its 336 Woolco discount stores due to ongoing losses. Woolco incurred a 1981 to mid-1982 operating loss totaling about 46 million dollars, with the division contributing 2.1 billion in sales. The move aims to redeploy assets to Woolworth, Kinney Shoes, Foot Locker, and J Brannan.
MENTIONED IN THIS ARTICLE
New York
F.W. Woolworth Co
Woolco
Woolworth
Edward F. Gibbons
Kinney Shoes
Foot Locker
J. Brannan
Gibbons
U.S
Canada
F.W. Woolworth PLC
Northwestern Bell names new president in management shakeup
Richard D. McCormick of Omaha elected president of Northwestern Bell Telephone Company succeeding Jack McCallister who becomes chairman of the board. Board announced the changes Friday after a Minneapolis meeting and the changes take effect October 1.
MENTIONED IN THIS ARTICLE
Des Moines
Richard D. McCormick
Omaha
Northwestern Bell Telephone Company
Jack McCallister
Minneapolis
Senate approves broad bank bill expanding funds sales
The Senate passed legislation by voice vote allowing banks to sell mutual funds including money market funds and letting savings and loan institutions make commercial and agricultural loans. The House has passed its own bill.
MENTIONED IN THIS ARTICLE
Washington
UPI
Senate
House
Broker Loses Appeal Over Barred Chicago Firm
U.S. District Judge George N. Leighton refused to lift a court order barring Financial Partners Brokerage Ltd from doing business in the Chicago area. The Oak Brook based firm is accused of swindling about 400 investors out of more than 30 million dollars and faces a Monday injunction hearing.
MENTIONED IN THIS ARTICLE
Chicago
UPI
U.S
George N. Leighton
Prentice H. Marshall
Financial Partners Brokerage Ltd
Oak Brook
GM, UAW and California Reach $10 Million Worker Retraining Deal
A $10 million pact signed in Sacramento funds retraining and job placement for 8,400 workers laid off from two General Motors plants. The state and federal governments add $6 million while GM contributes $4 million.
MENTIONED IN THIS ARTICLE
Sacramento
Calif
California
General Motors
United Auto Workers
McDonald’s Sues Burger King Over Ads
McDonald’s Corp filed a federal suit in U.S. District Court charging Burger King’s planned 20 million dollar ad campaign maligns its burgers across the Golden Arches. The case seeks a temporary injunction to halt the ads before their Monday start.
MENTIONED IN THIS ARTICLE
Miami
UPI
McDonald's Corp
Burger King
U.S
Sky Lab II Crew Docks After 59 Day Ocean Splashdown
On this date in 1973 the three man crew of the U S space laboratory Sky Lab II completed a record 59 days in orbit and made a safe splashdown in the Pacific Ocean.
MENTIONED IN THIS ARTICLE
U.S. Space Laboratory
Pacific Ocean
Pickets at National Oats Plant Stir Union Tensions
Millwrights Local 2158 picketed the National Oats Cedar Rapids plant over non union workers on a Knoxville contractor crew. Company chief executive David Hughes said work on a warehouse is underway and contracts went to the lowest qualified bidder.
MENTIONED IN THIS ARTICLE
Millwrights Union
National Oats
Cedar Rapids
David Hughes
the Gazette
Conveyers Specialties
Knoxville
The
Carpenters Union
Hughes
New tax law curbs medical and casualty deductions
New tax rules reduce medical expense deductions from 3 to 5 percent of adjusted gross income and drop the separate deduction for employer paid premiums. Casualty losses will only be deductible above 10 percent of AGI, prompting plans to prepay medical bills and bolster coverage before year end.
MENTIONED IN THIS ARTICLE
New York
Congress
Uncle Sam
Neil B. Glenn
Peat
Marwick, Mitchell & Co
Main Hardman
Coopers & Lybrand
Fourth stock loss in five days as rally peters out
UPI reports a weak trading day as the Dow dipped 6.25 to 919.52 and the NYSE index fell to 70.75 amid light volume. Analysts caution a correction after a late summer rally, with investors awaiting the Federal Reserve money-supply data and lingering takeover chatter on major stocks.
MENTIONED IN THIS ARTICLE
New York
UPI
Richard Minsall
Capital Advisors
Tulsa
Okla
Standard & Poor
John Brooks
Robinson- Humphrey
Atlanta
Federal Reserve
Eastern Central Motor Carriers AOA announces rate hike
The Eastern Central Motor Carriers Association of Akron plans an eight percent rise on less than truckload shipments and three cents on truckload moves, effective November 8. The increase covers Cedar Rapids area to the East Coast and will push overall rates about 7.1 percent to cover higher costs for the 800 carrier members. Industry insiders expect similar increases to follow near November 1.
MENTIONED IN THIS ARTICLE
Eastern Central Motor Carriers Association of
Akron
Cedar Rapids
Virginia
Also Mentioned on This Page
Bendix and
Unik
By Gary Klott
Thomas Pownall
Edward Hennessey Jr
Aerospace
Delaware Chancery Court
Mary Cunningham
Seagram Co
Bendix-Marietta
Bendix and Marietta
Audrey E. Muckler
Tommy Tucker Realty Realtors
N.Y
Gazette
OMEGA
Center Point Road
Chet Currier
Mage
Martin Marietta and
Loews Corp
CNA Financial
Air Products
IBM
el Paso Co
Burlington Northern
el Paso
CCI Corp
American
Cooper Laboratories
Colonial Penn Group
American Association of Retired Persons
Penn
American Stock Exchange
Wang Laboratories
MCO Holdings
Brown Foreman Distillers
National Association of Securities Dealers
Ervices
Ampex
Selectric & Ill
1St Ave
Coventry Gardens Mall
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