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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jul 08, 1985
Page
5
New Yorkers note early signs of a summer rally as the Dow climbs beyond 90 points from May lows. Yale Hirsch analyzes data since 1964, showing winter and autumn rallies outperform summer, and the notion survives as a marketing historic relic rather than a reliable seasonal pattern.
Leon Gorman of L L Bean sets out with ten managers for a 400 mile spring hike in the White Mountains near the Maine New Hampshire border. He says the trek keeps the group in touch with the company's roots and culture.
Washington AP report describes Access America a travel insurance test by Blue Cross Blue Shield aiming for 100000 policies in 6 months across five states and DC. It covers baggage theft bail money medical evac cash payments and local expeditors with 24 hour international help.
The Center for Auto Safety accuses General Motors of a secret warranty scheme favoring some 1980 82 model X A and J cars with TH125 transmissions and seeks FTC intervention to reimburse all affected owners. GM disputes the charge, saying we satisfy customers case by case with post warranty adjustments.
Milwaukee workers largely ratified a national economic agreement with American Motors Corp. but Local 75 at the Milwaukee metal stamping plant rejected the local pact. About 300 hourly workers at the parts distribution center split 97 against and 83 for the local agreement, while stamping plant workers voted 56 percent in favor. Kenosha assembly workers were set to vote on the concessions.
Americans held more than 2 trillion dollars in savings deposits at thrift institutions by year end 1984 while mortgage debt reached 1.5 trillion and total debt stood at 7.145 trillion including credit cards and federal debt. The Savings Institutions Sourcebook reports 1984 figures with 75.6 billion earned in interest on deposits.
New York AP report says deficit talks return center stage as fiscal year ends and Congress resumes after Independence Day. Markets had rallied on lower rates but warn of a possible continued resolution if July budget deal stalls. Dow slips while NYSE composite hits new high as analysts weigh deficit paths and tax reform effects.
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