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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Nov 13, 1997
Page
13
The Federal Reserve kept the federal funds rate at 5.5 percent after a three hour meeting, delaying a rise despite inflation concerns. Analysts noted wage costs rising and Asian turmoil could pressure a move next year, while policymakers cited low inflation and fragile markets as reasons to pause.
The Dow Jones Industrial Average fell 157 points to 7401 amid global selling. Overnight declines in Asia and escalating turbulence in Brazil pressured U.S. stocks despite expectations of a favorable Fed move, marking its lowest close since the October 27 crash.
Jay Volpe climbs a 30 foot ladder as Leprechaun Lawns workers install holiday lights on the Randall home in west Lawrence. Leprechaun Lawns owner Jim Tutschulte says Christmas Decor supplies and services, takes down, boxes up, and stores lights, with crews kept busy through winter.
Levi Strauss & Co paid retiring president Thomas Tusher about 126 million in stock options and tax offset bonuses after the company went private in 1985. He received 404,750 Levi's shares at 3.50 each, later selling at 265 for a 105.8 million pre tax profit, while the firm plans to cut 6,400 jobs and close 11 plants.
Slaughter cattle prices ease 1-2 while demand stays fair. Weekly totals show 38,500 cattle and 12,700 heifers confirmed, with 13,200 steers and 12,700 heifers on Wednesday. Feeder entries pegged steady to higher, turkey and hams lingering in retailers’ thoughts as holiday shifts disrupt slaughter. Horizontal quotes include misreported weights and mixed grades across St. Joseph and Omaha markets, plus regional grain and metal price notes.
Timothy Miller of C H Robinson Co will speak at Kansas International breakfast at Alva mar Country Club on Choosing a Global Partner. Breakfast at 7:30 am, speech around 8 am. reservations via 841-7751. Kansas International promotes Kansas firms' international trade from Lawrence. The U S Air Force awards Boeing 64.8 million to re engine RC-135 kits at Tinker AFB with work at Wichita facilities. no new jobs.
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