Builders Spending Increases Amid U S Construction Rise
August data show U S builders spending on new construction up 1.6 percent, the fifth gain in six months as lower mortgage rates and easing costs lift the sector. Private construction rose 1 percent while total construction spending hit an annual rate of 232.3 billion dollars.
UAW pins contract row on Iacocca cash claim
UAW vice president Marc Stepp warned that if Chrysler’s tentative contract fails, Lee Iacocca would be blamed. He said union leaders are angry at Iacocca for saying Chrysler has a $1 billion cash cushion. Spokesman Britt Temby declined comment. analysts see the money talk as investor reassurance amid near bankruptcy fears.
MENTIONED IN THIS ARTICLE
Detroit
United Auto Workers Union
Chrysler Corp
Lee Iacocca
Marc Stepp
UAW
Chrysler Department
Iacocca
Chrysler
Stepp
Solidarity House
Britt Temby
Richmond decries death of suspect amid police tensions
In Richmond California a black suspect Willie Lee Drumgoole died after a chokehold incident stirring community outrage. The city under a federal consent decree for minority treatment faces ongoing suits over police shootings including Johnnie Roman and Michael Guillory. Drumgoole, 36, allegedly tried to escape a holding area after a burglary arrest.
MENTIONED IN THIS ARTICLE
Associated Press
Richmond
Calif
Willie Lee Drumgoole
San Francisco
Mississippi
Oliver Jones
National Association For the Advancement of Colored People
Contra Costa County
U.S
Robert Aguilar
NAACP
Johnnie Roman
Michael Guillory
Roman
Guillory
Drumgoole
Factory orders decline in August signaling weak recovery
The Commerce Department reported a 2.8 percent drop in new orders for manufactured goods in August, the steepest one month fall in two years. The data, along with a weaker leading indicators index, suggests limited incentive for manufacturers to boost production or rehire workers as the economy lingers in recession. Robert Ortner called the orders decline disappointing yet unsurprising amid broader dull August figures. He reiterated the economy is in a transition phase between recession and recovery, with a small positive gain for fourth quarter expected, softer than Regan’s 3 to 4 percent growthForecast.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Robert Ortner
Commerce
Ortner
Treasury
Donald T. Regan
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Builder
Robert Farlow
Robert Dederick
Jack Carlson
National Association of Realtors
Carlson
UAW Strike
United Auto Workers
Caterpillar Tractor Co
Mount Joy
Iowa
Melvin Belli
John Jeffrey Smith
Morris
Phoynne
Gees
Aerd
Eee
Odessa
Midland
HN. Alleghancy
Sor
The