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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jun 06, 1980
Page
8
The Dow Jones gained 0.88 to 8587 as trading picked up with NYSE volume at 49.07 million. Banks cut lending rates while the overall market rose modestly, with S&P 500 up 1.00 to 112.78 and Nasdaq at 152.21.
Kapok Tree Inns Clearwater Florida reports 12 week period ending April 13 sales 6 116 million up 248000 from last year earnings 744000 up 145000 per share 33 cents vs 20 cents 12 weeks prior 28 week period sales 10 467 million up 201000 earnings 725000 up 173000 per share 27 cents vs 18 cents 28 weeks prior Earnings per share rise aided by reduction in shares after exchange offer of 1 290 000 common shares.
Black & Decker will close its Easton and Hampstead plants for two weeks this summer to reset finished goods inventory. About 2,200 workers at Hampstead and 250-300 at Easton will be affected. Easton closes June 16 to 28, Hampstead June 30 to July 7 and August 4 to 11, with one week counted as part of a regular vacation shutdown.
NAM President Alexander B. Trowbridge urged creating a light industry trade zone to cut unemployment in the Baltimore Washington region. He linked high joblessness, especially among nonwhite groups and youths, to social unrest and riots of the past, urging job creation to prevent future violence.
Washington reports that starting Friday long distance calls will cost more as AT&T raises rates by 5.1 percent. The rise varies by call pattern with a three minute weekday direct dial Washington to Los Angeles adding about 1.37 dollars. Person to person and operator assisted rates also climb from 3.55 to 3.75 dollars.
Smith and Kimberly A Holland of Grand Rapids Michigan share news as the 1990 Pechiney Ugine Kuhlmann Corp scholarship recipient chosen for academic achievement and leadership promise. Ronald Holland, father and accountant at Howmet, linked to Eastalco Aluminum in Frederick, noted in the brief. C Patrick Smith becomes general sales manager at Acco Industries Frederick division after joining in 1973 from Robertshaw Honeywell roles. Ono Bell Rastelli of Hagerstown named second assistant manager at Wendy's in Frederick.
Midway Airlines announces a One Cent Sale for round trips between Chicago and Washington or Chicago and St Louis. With a regular one way fare at 85 dollars to Washington, the penny return option costs 85 dollars and one cent round trip. The offer runs through June 15 with outbound by June 15 and returns in June, non refundable. Tickets available at Chicago Midway, St Louis Lambert, or Washington National airports.
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