Retailers cheer as weekend sales boost Christmas outlook
In Syracuse area retailers report strong weekend shopping aided by warm weather with many stores mobbed and sales rising modestly nationally. Executives including Addis Co. and Dey Brothers see hopeful signs for holiday totals and year end performance, with hardware, toys, home computers and clothing driving demand.
MENTIONED IN THIS ARTICLE
Syracuse
Reace
Addis Co
Richard Basilone
Addis
Gerald Sideman
Dey Brothers
J.C. Penney’s
Joseph McCarthy
DeWitt
Ralin’s
Richard Rabin
Hills Department Store
Sears, Roebuck & Co
JC Penney Co
F.W. Woolworth Co
K Mart Corp
K Mart
Bernard M. Fauber
Sears
Edward R. Telling
East
JC Penney
Woolworth
Federated Ee
Cincinnati
Bloomingdale’s
Filene’s
Jeffrey Feiner
Merrill, Lynch
Feiner
Dollar Slips as Fed Rate Cut Bets Rise Europe Wide
European trading showed the dollar weak against major currencies amid expectations of further U.S. rate cuts. In Tokyo the dollar dropped to 246.70 yen, then to 245.48 yen in London. Gold rose slowly while other currencies fell on recession fears and weak U.S. economy forecasts. London gold fixed at 443 per ounce, silver at 10.32, and oil demand trends cited by Dan Lundberg support lower pump prices. The VW plant in West Stanton paused for a week with about 3,300 workers laid off. EC talks with Macao on textiles advance, but Korea talks stall over fraud measures. PMI survey signals deeper recession into December, the longest since WWII.
MENTIONED IN THIS ARTICLE
Tokyo
Europe
London
U.S. Federal Reserve
U.S
Zurich
Hong Kong
Laszlo Birinyi Jr
Salomon
Dow
William Freund
New York Stock Ex
Prudential Bache Securities
Allied clears hurdle in Bendix Martin-Marietta merger
The Justice Department antitrust division approved Allied Corp to acquire Bendix Corp and 39 percent of Martin-Marietta for 1.9 billion dollars. The long running takeover dispute began last August with Bendix and Martin-Marietta pursuing counteroffers and joint plans before Allied emerged as the winner. Baxter noted the review was extensive, covering many product markets and data from numerous entities.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Antitrust
Allied Corp
Bendix Corp
Martin-Marietta Corp
William F. Baxter
Bendix
William Agee
Martin-Marietta
Allied P
Allied
Morris Township
N.J
Conin Chemicals Eee Opiace
Apid. Mich
Bethesda
Baxter
Economists See Modest 1983 Recovery Lacking Strong Growth
A Conference Board forum of top economists forecasts a 1983 recovery but growth well below post-recession peaks. They project 2.7 percent real GDP growth and 4.8 percent inflation, with rates easing to just under 8 percent and a prime near 11 percent. They warn monetary policy must ease to sustain any revival, and single-digit rates are unlikely until the federal deficit is controlled.
MENTIONED IN THIS ARTICLE
Conference Board
Economic Forum
Fed
Forum
Fis
Federal Reserve
Norman Robertson
Mellon
Daniel S. Ahearner
Thorndike
Doran
Paine
Lewis
Stock market volatility fueled by confusing economic signs
The Dow and other indexes swing daily by large point moves as analysts weigh inflation, recession timing, and the impact of market structure changes. Experts note broader volatility across sectors, with technology and energy often outpaced by more placid utilities.
MENTIONED IN THIS ARTICLE
Roger G. Ibbotson
University of Chicago
Center For Research
Reagan
Salomon Rt
Wayne Wagner
Wilshire Associates
Santa Monica
Calif
Bay Resa
Wagner
Also Mentioned on This Page
J.C. Penney
Itt
Joseph A. Porcello
Dan Lundberg
Lund
Volkswagen of America
West Stanton
European Community Commission
Macao
South Korea
Survey Outlook
Allied Clears Hurdle
United Technologies Corp
Panies
Bentix
United Technologies
Keren Arense
New York Times
Salomon Brothers
Equity
the Stock Market Consolidated Trading
Dow Jones Industrials
Sey
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