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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 29, 1976
Page
6
AP analysis notes material cost increases raise 1977 auto prices. GM chair Thomas Murphy cites healthy demand, but dealers show a large 100 day supply of small cars while some buyers balk at higher costs. Extended loan terms risk delaying payoff and masking debt.
New York report from First National City Bank of New York notes a sharp acceleration in direct foreign investment into the United States. Rising U.S. labor costs relative to other major economies drives the trend. Asahipen Corp of Osaka plans U.S. production for export to Japan, purchasing a 31000 sq ft Seattle plant expected to start this September producing 500 tons monthly.
John Perry of Palm Beach Florida proposes a National Dividend Plan that would tax free give every registered voter 500 to 750 dollars per year funded by corporate taxes redirected to individuals. He says this would raise incomes reduce poverty boost buying power and curb government spending while maintaining Social Security benefits. Perry asserts the plan would align citizens with the system and reduce inflationary pressure. He seeks to place the idea in a Republican platform and calls for a federal spending moratorium.
A broker handling billions for wealthy individuals discusses strategy amid market uncertainty. He cites profitable plays in gold short positions, coffee futures, and foreign currencies, while noting retrenchment in stocks amid institutional selling. He predicts a rough election year, FTC antitrust probes, and slow economic growth ahead, with mutual funds pressuring dividends to lift stock dumping.
Carlton Truesdale of High Point is among seven minority students awarded Bell Labs fellowships toward doctoral studies in physics chemistry mathematics engineering computer sciences experimental human psychology and operations research. Fellows receive tuition and university fees a living stipend and travel funds plus potential summer research. The program reflects Bell Labs’ collaboration with universities and industry.
More than half of large foreign corporations excluding U.S. subsidiaries posted lower net profits in 1975. Reasons cited include a world economic recession and higher operating costs. International banking sources note deficits for firms such as British Leyland Montedison Cockerill Alfa Romeo ENI and Stalsider. British Petroleum earnings fell 70 percent.
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