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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Apr 30, 1974
Page
2
Chrysler raises prices across models effective Wednesday as cost increases since last August total around 307 dollars per vehicle, with expected further rises. Townsend cites energy crisis and inflation as driving factors, noting first quarter sales 2.7 billion and earnings 1.6 million.
Union Oil reported first quarter 1974 profits up 90 percent to a record 72.96 million dollars or 2.34 a share, defended by President Fred Hartley who said high profits are needed to move the nation toward self sufficiency. He cited higher crude prices, chemical sales, and cost recoveries as drivers while opposing federal oil profit controls. Stockholders rejected a measure to bar corporate political contributions, with Hartley warning against a return to wasteful energy habits after the Arab oil embargo.
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