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High Point Enterprise in High Point, North Carolina

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This newspaper page contains 6 articles. Subscribers can read the full text of each article.

Newspaper

High Point Enterprise

Location

High Point, North Carolina, United States of America

Date

Dec 01, 1974

Page

4

GM appoints Thomas Murphy optimistic despite sales drop

Thomas A. Murphy becomes GM chairman as Richard Gerstenberg retires. Murphy, longtime GM executive labeled a financial wizard, inherits 800000+ global workers, 1973 sales of 35.7 billion and 2.4 billion profits, while car sales fall 27 percent year to date. He urges cautious price actions and favors government nonintervention, arguing the economy remains fundamentally sound amid industry turmoil.

Jon Wolman Associated Press Writers Detroit General Motors Thomas A. Murphy Sunday Richard Gerstenberg

Productivity to rise as layoffs cut excess workforces

AP analysis notes mass layoffs may lift productivity, which has slumped since World War I. It explains productivity as output per hour and cites corporate hiring, high schedules, and demand drops as key factors. Some economists worry recovery may be slow or never reach prior levels.

John Cunniff New York United States

Cyanamid exits Ervin Industries holdings amid write offs

American Cyanamid Co. says it will write off its equity and debt in Ervin Industries and limit further funding. Acquired in 1970, Ervin operates as an unconsolidated subsidiary with no Cyanamid debt guarantees. Chairman Clifford D. Siverd cites housing market decline and weak outlook, forecasting a 250 million after tax write-off and a 1974 reserve to cover related costs, while 1974 earnings per share are not expected to fall below 3.00 to 3.25. Ervin plans to reduce operations under Cyanamid action.

Siverd Cyanamid Ervin Industries Ervin

Market Ends Week With Small Dow Gain On Cautious Trading

The Dow closed at 618.66 up 3.36 from last week while the Associated Press average stood at 214.4, rising 2.8. Light trading kept gains modest as brokers cited recession worries for a cautious market mood.

Dow Jones Associated Press

Business Notes and Lowe's Earnings Report Highlights

Mrs Evelyn M Smith joins Rogers Insurance Agency bringing decades of work in the field including a 1962 Woman of the Year honor and later senior roles. Lowe s Companies reports first quarter 1975 sales of 88 6 million down 3 from prior year with earnings per share 35 cents and a 3 5 cent dividend set for February 3. Jesse Tucker Jr named sales manager of Bamby Bakers covering multiple cities. Sky City Stores reports nine month sales rise to 41 3 million but third quarter earnings slip to 256 340 as inflation and weak consumer confidence bite profits.

Lowe M.C. Peterson Sky City Stores, Inc Asheville United States

Wage gains prompt antitrust talk amid inflation fears

Knowledgeable observers say rising wages push for antitrust action against unions. Ford's WIN program seen failing as higher costs fuel inflation. Fed members warn inflation may persist regardless of monetary policy. Analysts cite coal contracts and fringe benefits as fueling price hikes, urging limits on labor market monopolies and cautious wage increases.

Ford Federal Reserve Board

Also Mentioned on This Page

Murphy Henry Ford II Pointblank Ati Jad Capri Inc Diamondhead Corp Assoct- Cameron Finance Durham Tife Ailonal Securities Represen- Cannon Mill Vom Engragh Inc Carmine Foods Fidelity Corp Mississippi Garp Carolina Cas Tns Ava Clude Emic Corp Wye Mission Wise Catawba Wa Care Corp Central Care Bank Farmers New World Central Vermont Forsyth Bank & Truat Waive American Furniture Charter Sancshes Franklin Life and Bankers Trust of Genl Financial VA Basse Furniture Chatham Gardian Corp CRS Corp Am Blacks Coca-Cola Co Consaysie Herredon Furn My Brenner Hickory Furn Bournup & Sims Conner Homes Wet Investment Life& Trust m Wa A Iweya Burris Daniel Internat Viva Kenan Transport Tia Capri Inc Anone Lance, Inc Lane Car Sia Ste Leggett & Playy Life Assur. of Little Giant Lane’s Co Mack’s Stores Mom & Pop's Multimedia Ncns Corp. N.C. Natural Gas Northwest Fin Corp Acc Ite Ins Cy Phillips Fascite Wa Va Vie Piedmont Aviation Baxo Ncms Ome Quality Mills Rmic Corp Rahal Camm Reid-Provident Labs Rex Prastics Salem Carpet Sea Pines I “A iShoneys Big Boy Sanato Products Natl Corp Natl Corp Spartan Food Syst Synercon Corp Televent Leasing Ned Wilbur M. Currie, Cla Ray Hubbard Evelyn M. Smith Rogers Ins. Agency, Inc E. Westwood Smith Elbert Martin Bridlewood Dr Jones Business College Evelyn Grayson A. Smith Wimbledon Place Michael Gene Lisa Louise Lowe’s Report Lowe's Companies, Inc Lowe’s Jesse Tucker Jr Bamby Bakers Salisbury Concord Albemarle Monroe Rockingham High Point Thomasville Sky City Peterson Evelyn Smith Lou Schneider North American Newspaper Alliance Timonoply Congress American Telephone & Telegraph Federal Trade Commission Mayo Thompson Anserphone N. Main ST Gene's Printing Co Albertson Road S. Hamil Fred P. Newby Granville Moving& Storage Wayower Mayflower Granville Ton St Steve Foster Craig Newby Rogers Insurance Agency, Inc CAR — Home — Health E. Westwood Ave N.C
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