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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Sep 08, 1994
Page
8
Analysts note consumer installment debt rose by about 98 billion in the year through June, reaching roughly 850 billion, while auto loan credit remains up and card use soars by 43 billion. Explanations drift from tax avoidance to rising confidence, marketing pulls, and the computer age diary effect as households face stress and low savings.
Site prep began for a $700000 full service car wash and detail center at 2828 Four Wheel Drive next to the 1/2 Price Store. Owner Bill Stewart aims to open in December with 20 to 25 jobs and a plan to hire students in summer.
Commerce Department reports 5,000 firms expect to spend 638 billion this year on building and equipment up from 587 billion last year. The rise follows an 8.3 percent projection in June and marks the largest capital investment jump since 1989. Unemployment claims dip to 330,000 for week ending Sept. 3 as rates stay high and productivity falters.
Local stocks summary signals upcoming market wrapup in Saturday Journal-World. Readers can expect detailed listings, closing prices, and notable movers.
Midland Elevator quotes wheat at 3.76, corn 2.25, milo 3.50, soybeans 35.51 per bushel. Omaha livestock quotations show hogs steady to 50 higher, barrows and gilts 36.50 to 37.00, sows 26.00 to 31.00, cattle and calves not listed, sheep none. Nonferrous metals in New York and copper, lead, zinc, tin, gold and silver prices given, with rates from Commerce Bank of Kansas City as of 8 a.m. today.
Kmart Corp will shut 110 discount stores nationwide by February 1995, eliminating about 6,000 positions and reducing management by 10 percent over two years. Closures cover 30 states, with five in Kansas. Lawrence store excluded. Applebee’s merges with Pub Ventures of New England. Fourth Financial to buy Standard Bank Mo. deal pending regulatory approval.
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