IBM profits fall as recession hits and job cuts rise
IBM reported a 45 percent drop in third quarter profit to $172 million as weak economies and product transitions pressured results. The company said it would cut about 20,000 jobs this year, up from 17,000, and took a $100 million charge for accelerate severance costs. Revenue slipped 5.5 percent to $14.4 billion, with analysts noting results at the low end of expectations.
MENTIONED IN THIS ARTICLE
New York
Nea
IBM
John F. Akers
Barry Bosak
Smith Barney
Harris Upham & Co
Rick Martin
Prudential Securities Inc
Martin
Child labor law violations found in Maryland and Delaware beaches
Federal investigators reported 182 child labor law violations across Rehoboth Beach Delaware and Ocean City Maryland during August. Thirty four firms were cited for minors working too many hours, with three minors in hazardous conditions including meat slicer and trash compactor use. fines can reach 105000 dollars.
MENTIONED IN THIS ARTICLE
Baltimore
Maryland
Delaware
Department of Labor
Rehoboth Beach
Del
Ocean City
Travis Campbell
Labor Department
ESSROC plant reports safety record and boosts incentives
Bruce Ballinger says ESSROC Materials Increment plant exceeds safety benchmarks with over 300 days without a lost-time accident and a 1500 percent safety index lead. About 110 employees, located at May 85 Lime Kiln, have earned roughly $4000 in savings bonds and gift certificates through the program. In separate release, Crestar Financial Corp reports a 9% drop in third quarter earnings to 2.3 million and 5 cents per share, from 24.2 million and 76 cents last year.
MENTIONED IN THIS ARTICLE
Essroc
Bruce Ballinger
Portland Cement Association
Frederick County
Ballinger
Richmond, Va
Crestar Financial Corp
Crestar
Adrienne's Flower Delights Opens in Jefferson
Adrienne Shaffer Burch opens Adrienne's Flower Delights at 3738 Jefferson Pike Jefferson offering fresh and dried flowers floral wire service balloons and delivery. The shop occupies Hemp's Meat Market building with a grand opening attended by Barry Burch and local officials including Frederick County Commissioners Gail Bowerman Sue Ann Yingling and Ronald Sundergill. For information call 473 4330.
MENTIONED IN THIS ARTICLE
Adrienne
Jefferson Pike
Jefferson
Future Farmers of America
Adrienne Shaffer Burch
Hemp's
Barry Burch
Frederick County
Gail Bowerman
Sue Ann Yingling
Ronald Sundergill
Antje Weaver
Billy Hemp
Hemp’s
Atlanta Tops Nation in Fortune Business Cities Survey
Fortune magazine reports executives ranked Atlanta the best U S city to do business citing low cost, skilled labor, and favorable attitudes. Dallas Fort Worth second. Pittsburgh third, with Salt Lake City and others also listed amid comments on crime, schools, and office space abundance.
MENTIONED IN THIS ARTICLE
New York
Atlanta
Fortune Magazine
Dallas-Fort Worth
Fortune
Moran Stahl and Boyer
Pittsburgh
Auto sales stall in early October 1982 model year start
DETROIT AP automakers opened the 1982 model year with a 10.1 percent drop in North American car and light truck sales from a year earlier. GM fell 16.5 percent for Oct 1–10, Ford down 9 percent, Chrysler about 17.7 percent though no 10 day figure, while Japanese makers rose 36.8 percent. Overall year to date shows North American vehicle sales down 11.7 percent, with Big Three down 14.2 percent and Japanese up 9.2 percent. Analysts blame consumer jitters over the weak economy and job security concerns.
MENTIONED IN THIS ARTICLE
Detroit
Ealae
General Motors Corp
Ford Motor Co
Chrysler Corp
Chrysler
Associated Press
Studio One Opens Walkersville Salon With Open House
Studio One hair design announces two open houses to celebrate the Walkersville location and the Frederick salon expansion. The Walkersville event Sunday Oct 27 at 21 E Frederick St features fall cuts coloring and free consultations, with tanning services available. The Frederick event Sunday Nov 3 at College Park Plaza includes manicures pedicures facials and the latest designer cuts.
MENTIONED IN THIS ARTICLE
Studio One
Walkersville
Frederick
E. Frederick St
College Park Plaza
West Seventh Street
Gene Mock
Frederick Ann
Eant
Paul Mitchell
Nexxus
Matrix
Seth New Anded Hanes
College Park
Also Mentioned on This Page
Asea
Greenbrier Lane
Jeff Sawyer
Sawyer
Bank Report
Maryland Business Products, Inc
Sharp
Murala
Eastgate Center
Ronica Tokar
Olde Te Owne Sewelers
Han-S
Stallphote
Ed Waters Jr
Kansas City
Nashville
Salt Lake City
Utah
Alan D. Rindlisbacher
The
Economic Development Corp
Bart Lewis
Atlanta Regional Commission
Charles Brady
Mabon Securities Corp
Brady
Ford
Connie Gibbs
Cimda Hooks
Jody
Sovran Fur Mortgage Corporation
Sovran Bank ‘Sa
Waverley Dr. Frederick, MD
AP Stock Quotes
Oe i Ik
Buster
Anal Press
Thank You
First Bank
First Bank of Frederick
Rose Hill Plaza
Opossumtown Pike & Rt
FDIC
Bank of
Buasthteig
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