Braniff cancels flights and files for bankruptcy
Braniff International Airlines filed for Chapter 11 bankruptcy at the home of a federal judge, aiming to continue operations while restructuring. The move follows deregulation era pressures, a $732 million debt, and major route disruptions with thousands seeking standby seats as other carriers prepare to absorb the traffic.
MENTIONED IN THIS ARTICLE
Fort Worth, Texas
Braniff International Airlines
John Flowers
Braniff
Howard Putnam
Esses
Eastern Airlines
Civil Aeronautics Board
Sam Coats
New York Stock Exchange
Dallas-Fort Worth
Kansas City
Minneapolis-St. Paul
Retail Sales Rise in April While Skeptics Question Depth
A government report shows April retail sales up 1.4 percent, led by a 5.6 percent jump in autos. Analysts caution the gain may overstate true spending as car prices rose after rebates and used car sales may have climbed. Economists voice cautious optimism about a recovery.
MENTIONED IN THIS ARTICLE
Associated Press
Commerce Department
Jack Lavery
Merrill Lynch & Co
Evans Economics
Washington
Robert Parry
Security Pacific National Bank
Los Angeles
Murray Weidenbaum
Reagan
Loan guarantee keeps plant in Fort Wayne
Indiana and Fort Wayne unveil a 9.2 million loan guarantee to save 4700 jobs at International Harvester in Fort Wayne. The plan uses a sale-leaseback of the parts distribution center, with Harvester to lease for ten years and no direct public funds. Governor Orr announced the agreement reached in Chicago after talks at the Statehouse.
MENTIONED IN THIS ARTICLE
Indianapolis
Indiana
Fort Wayne
International Harvester Co
Robert D. Orr
Harvester
Orr
Statehouse
Allen County
Chicago
Union balks at vote on Dubuque plant closure
Du buque Packing Co will close its flagship plant Oct 16 after workers refuse to vote on a 11 point concession plan. Local 180A UFCW would not stage a vote by Thursday, prompting the firm to set a Thursday deadline and discuss closing steps with union reps. The action would cut about 1200 jobs as the company seeks wage and benefit cuts.
MENTIONED IN THIS ARTICLE
Dubuque, Iowa
Dubuque Packing Co
Dubuque
Clifford Less
United Food and Commercial Workers Union
Mel Maas
Also Mentioned on This Page
Ing
Jim Skyles
Houston
Union
Plant
THE
M.A.B
Sabysey
Wal-Shield
Saan At
Pri Sm
Sone
Dover White
ATEX
Huber
Ace
Ues
Murphy’s Oil
Tiedad Witte
Aean
Sanitas
Mina
Sal
Home Investment
Eastgate
Carbondale
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