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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Feb 01, 1990
Page
7
Government data show total construction spending at a seasonally adjusted annual rate of 414.6 billion dollars in December, down 0.6 percent from November and the lowest increase since 1982. For 1989, total spending rose 1.2 percent to 414.7 billion, with residential 0.7 percent lower in December due to a 2.8 percent drop in multi family building.
New York stocks eased at midday with the Dow down 0.68 to 2,589.86 as profit taking and rate worries weighed on sentiment. NYSE volume ran 73.73 million shares with 679 down, 645 up, 471 unchanged. Nasdaq data not shown. Texaco, AT&T, Texas Utilities, and DuPont traded lower while Philip Morris and IBM rose modestly amid mixed index changes. In Kansas City, hog quotations softened with barrows and gilts 50 lower, light weights down 1.00 to 1.50, and larger cattle easing. Prices for grains and certificates noted in local markets.
Washington AP Officials overseeing the presidents savings and loan bailout face sharp Senate Banking Committee criticism over slow progress. Deputy Treasury Secretary Robson vows to break necks to finish the job as lawmakers urge decisive action. RTC has closed 42 of 350 thrifts, nine since last quarter. Many key posts remain unfilled including OTS director and inspector general. FBI clearances cited as draconian but administration nears naming RTC oversight board fourth member.
A New Jersey firm plans a 47,000 square foot plant at East Hills Business Park to preserve 60 local jobs and add 20 more later, with 2 million in industrial revenue bonds and a 50 percent tax abatement under consideration. Penn Plastics reevaluates move. multiple prospects consider the park as a 500,000 square foot plant site for 30 to 350 initial jobs, rising to 600 in three years.
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