Market downturn pushes Dow to early-year lows
New York stocks fell for the second straight session as inflation and rate fears weighed on markets. The Dow Jones industrial average slid 16.81 to 24.07, its lowest close since January 4, wiping out gains from January to February. NYSE showed 1,491 decliners to 175 advancers.
MENTIONED IN THIS ARTICLE
New York
Dow Jones
Dow
New York Stock Exchange
Balt GE
Wach BethSd
Clorox Coral
Eaxon
Fairchild Loda
Fedders
Giant
Gulf
Harris
Ik IBM Byt
Kmart
Litton
Standex
Tandy
Texaco
Warner L
Wash Gs
Watkins J
Baker Watts & Co
Frederick
Jihad and the Longest UAW Harvester Strike
The UAW and Harvester battle over mandatory overtime in a four month old strike at Canton Illinois, led by Archie McCardell. Frustrations rise as 35,000 workers join the walkout, with rallies giving way to tough contract talks and fears of lasting bitterness.
MENTIONED IN THIS ARTICLE
Canton
Cletus Williams
Williams
United Auto Workers Hall
Iran
UAW
Internaional Harvester Co
Archie McCardell
Harvester
McCardell
Xerox Corp
Great Plains
General Motors
East Moline
Douglas Fraser
Chicago
Canton Works
Illinois
Ohio
Indiana
Kentucky
Tennessee
Georgia
Texas
Minnesota
Gary Cape
Union Hall
Billy’s
Eli Lustgarten
Deere & Co
Caterpillar Tractor Co
Bill Seption
NAC kills accounts in Baltimore Washington area
About 14,000 consumers in the Baltimore Washington region have their NAC credit card accounts cancelled due to inflation. Citicasp Financial President Ronald E. Geesey notes the action targets the lowest credit bracket with a history of late payments, while some on-time payers in that group are also cut off. Cancellation letters invite re application for credit.
MENTIONED IN THIS ARTICLE
Washington
Baltimore-Washington Area
Ronald E. Geesey
Citicasp Financial, Inc
Baltimore
Geesey
Congress and White House admit spending fuels inflation
Report notes both Congress and the White House acknowledged that large spending and deficits contribute to inflationary pressures. Yet key bills stalled, deficits grow, and interest rates rise, prompting concern from businesses, local governments, and economists about the nation’s ability to sustain services and growth.
MENTIONED IN THIS ARTICLE
Congress
White House
New York
Learnt from successes? Washington rethinks 24 year certificates
Louis Rukeyser laments federal regulators cutting back on 24 year money market certificates amid inflation. He notes March caps level at thrift 12 percent and banks 11.75 percent, reducing real returns below inflation. He states the products drew $3.2 billion in a month, countering savers’ shift from low yield accounts.
MENTIONED IN THIS ARTICLE
New York
Washington
U.S. Treasury
Record traffic at BWI hits new high in 1979
BWI Airport logged 39 million passengers in 1979, up 6.2 percent from 1978, with six new carriers joining, including Virginia and Ozark. Sattler cites growing recognition of BWI as a convenient gateway to the Washington Baltimore region and projects passenger totals of 53 to 56 million with revenues near $22 million by 1985. He notes limousine and Montgomery County ridership rising and expects steady growth ahead.
MENTIONED IN THIS ARTICLE
Karl R. Sattler
Sattler
Washington-Baltimore
Ternational
World
Air Virginia
New Haven
Ocean Airways
Ozark
Dulles
Bwi
Washington Area
Washington
Montgomery
Prince George’s
Also Mentioned on This Page
UAW Vs International
By Wayne Slater
Nac
C.F. Murphy Inc
Rosemont Avenue
Ite
Watson's
Dennis Murphy
Richard Foland
Company
Tommy Walter
John Harley
James M. Murphy
Becky Spicer
John Canaifi
BOS Gagnon
Hank Wilson
Louis Rukeyser
Department of Housing and Urban Development
Open House
Ubartytown
Sun
Colorado
Kent Briddell
Pemmes
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