Sun Belt shines in 1984 manufacturing survey
The 1984 Alexander Grant & Co. survey shows the Sun Belt remains the most attractive region for manufacturers, with Illinois improving to 42nd place and the Great Lakes climbing but still last among eight regions and 48 states. Governor Thompson criticizes the study for neglecting life quality and transport, citing Business Week’s ranking of Illinois ninth for new plant sites. South Dakota leads, followed by North Dakota and Florida, in a field prioritizing energy costs and wages.
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Regional banking systems gain Supreme Court approval
The Supreme Court ruled 8-0 that states may form regional banking systems allowing interstate mergers within regions. Connecticut and Massachusetts laws upheld. similar measures exist in the Southeast with more under review. Illinois contemplates joining a Midwest interstate banking bloc with several states.
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Quiet market ends mixed in quiet New York session
Wall Street closed mixed as late buying lifted blue chips. The Dow Jones average rose 2.02 to 1318.44 while volume fell to 87.94 million shares, the lightest since May 24. Rates in credit markets were mixed after a period of falling rates.
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