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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Sep 18, 1990
Page
12
U S government data show July inventories rising 0.7 percent to 801.9 billion while sales slip 0.5 percent. Analysts warn rising stockpiles amid weak sales could pressure manufacturing and lift unemployment, though officials deem ratios not yet alarming.
Maryland's economy shows no recession yet the July jobless rate rose to 4.5 percent from 3.9. Officials say the state remains healthier than much of the nation with S P Triple A bond rating, growing labor force, and shifting defense work toward non defense industries despite slower building and advertising.
In a Wall Street Journal interview Richard Iacocca admits responsibility for Chrysler’s downturn, citing failed diversification into aerospace and defense, a costly holding company, and loss of market share to import rivals while plans for a second comeback unfold. The executive notes $2.5 billion in cost cuts and plant closures as the firm refocuses on autos.
A consumer group urged Ford Motor Co to recall 240000 Ranger pickups and Bronco IIs over gear shift levers that can break in the driver's hand. Ford says repairs under warranty are adequate and that the issue is not a safety hazard, while the NHTSA investigates failures with a 1986 87 Ranger manual transmission.
Nl Forno Pizzeria opens at the Westridge Shopping Center on U S 40 West Frederick. The wood burning oven creates unique pizzas with a range of toppings plus pasta soup salads and desserts. Ted Lamarche serves as manager. Hours are 11 a m to 10 p m Monday Thursday 11 a m to 9 p m Friday noon to 11 p m Saturday and noon to 10 p m Sunday. For more information call.
Chicago Chicago Board of Trade futures show gains with wheat at about 2 percent, corn near 1 percent, and oats steady. Trading open high low and last prices listed reflect fluctuating session activity as market participants assess supply and demand signals.
Coding workshop offered 1:30 to 5 p.m. Thursday September 20 and 8 a.m. to 4 p.m. Saturday September 22. Approved for 10 continuing education hours by the American Medical Record Association. For more information call Betty Warrenfeltz or Teresa Adams at 301 739 2670.
The Tri State Safety Council will meet at 68 p.m. Tuesday September 25 in Venice Hagerstown. A discussion on future topics is planned. Cost is 8 dollars. Reservations call 791-63550.
Boxed beef demand remains moderate with tight to moderate supplies. Select and Choice chuck and round cuts are steady to firm, Select chuck weak with some stems, various cuts and weights showing higher prices on solid demand. Pork markets show gains in fresh cuts and trim, US No 2 pork cutout rising while trim processes stay firm to high. Tokyo stocks slide as bond fears persist and dollar buys yen.
Washington AP reports Treasury sold 9.2 billion in three month bills at 7.39 percent on average, down from 7.41 percent last week. Another 9.2 billion in six month bills went at 7.30 percent, down from 7.34 percent. Rates are the lowest since August, when three month bills were 7.23 percent and six month bills 7.19 percent.
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