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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Aug 01, 1975
Page
5
AP market basket survey in 13 cities finds overall July price increase of 3.4 percent at checklist stores while some items like frankfurters declined. Pork chops butter and eggs rise. sugar climbs as weather and wholesale costs influence food prices.
Sen. Paul Fannin reports Motorola Inc of 8201 E McDowell Rd has been awarded a 5.9 million contract by the Department of the Army for 18 AN/ ATS 94D side looking airborne radar units to be built in Scottsdale.
AP report outlines rising inflation fears as June goods price jump to 9.6 percent prompts worries of delayed recovery and political impact. Ford aides, AFL CIO leaders, and experts warn price pressures from grain sales, oil policy, and decontrol could feed inflation and slow growth.
The piece argues consumers may drive a Nasdaq like comeback as markets rally. Analysts warn against overreliance on spending while some expect cautious borrowing and high saving in the coming quarters. The wealth effect from a market up 50 percent is noted.
Commodity closings show gold at 166.25 in London down 0.20 per ounce while IMM Sept gold rises 0.10. Silver 5.08, platinum 172.50, copper 5.79 cents per pound, wheat 3.69, corn 3.9044, soybeans 5.85, live cattle 44.87, live hogs 53.60, pork bellies 92.47, eggs 0.340, Maine potatoes 8.97, plywood 122.56, cotton 0.6 cents, sugar 16.80 cents per pound.
Advertising agency McGinley Vinyard and Lee Incorporated will base in Phoenix at 4300 E Camelback Road. McGinley formerly vice president of marketing for Greyhound Corp. The firm targets Southwest clients and expands local advertising services. Alan Fuentes named operations officer at Thunderbird Bank Industrial Park office. Garret G Bickford appointed resident VP and Arizona division manager for Chicago Title Insurance Co. James Wickline, Arizona division manager since 1969, to be transferred to Los Angeles.
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