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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jul 13, 1976
Page
6
New York stock market at 2 p.m. reports Dow Jones industrial average at 1011.62 up 0.41, transportation index 230.71 up 1.18, utilities at 90.52 up 0.48, and the total stock average at 316.23 up 0.76.
Kennecott Copper Corp plans a private sale of 20 percent of Peabody Coal Co and a spin off of the remaining 80 percent to stockholders to avoid capital gains tax. The move would require finding a buyer for 20 percent first while distributing Peabody shares to Kennecott holders based on their ownership. Frank R. Milliken urged serious buyers to indicate interest promptly.
London gold at 122.40 up 0.70, IMM Sept gold 123.60 up 0.80, Aug silver 4.94 unchanged. July platinum 174.50 down 1.30, July copper 0.757 up 0.007, July wheat 3.582 up 0.02, July corn 3.0442 down 0.04, July soybeans 7.13 down 0.11. Aug live cattle 40.37 up 0.03, July five hogs 48.97 down 0.30, July pork bellies 68.75 down 1.10, May eggs 0.5615 up 0.001. May Maine potatoes 9.17 unchanged, July plywood 145.50 up 0.70, Oct cotton 87.95 down 0.02, Sept sugar 13.67 down 0.17.
A Veterans Employment Seminar will run 9 to 11 a.m. Wednesday in the DES basement auditorium 1717 W Jefferson to help Vietnam veterans learn resume prep job counseling and veteran benefits. Registration contact Stan Evans at 2614901. Also SBA talks Scottsdale Rotary Club noon luncheon at Camelback Inn and July 21 Phoenix College small business clinic with speakers on ownership recordkeeping taxes advertising and insurance. An IRS SBA clinic July 29 in Phoenix and a stress management seminar Aug 19–22 at Carefree Inn accompany ASU Executive Development programs for executives with fee 345 per couple and Aug 2 deadline.
A June 11 report from the Wharton School led by Lawrence Klein predicts the U.S. recovery will continue for a year or more under a new president. Unemployment may fall to 6.1 percent by end of 1977 while inflation risks rise as prices edge up with falling joblessness. The analysis remains politically neutral but favors Carter’s aims of lower unemployment with minimal price pressure.
Three University of Arizona researchers from DEBR and the Economics Department receive a 170000 grant from the U.S. Department of Labor to build a local labor market forecasting model. Dr. Carol Taylor leads the project with Drs. Arthur Denzau and Ronald Oaxaca.
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