Consumer confidence strong as November reading hits five-year high
The Conference Board reports consumer confidence rose to 89.4 in November from 85.7 in October, the highest pre-Christmas level in five years. Buying plans dipped, yet intentions to purchase homes and durable goods remained well above year-ago levels. Auto makers show November gains, with GM up 20 percent, Ford up 15.8 percent, Chrysler near flat, AMC up 33.9 percent, and VW up 44.6 percent, signaling a continuing industry rebound amid a robust economy.
MENTIONED IN THIS ARTICLE
Dil Welk Loura
Thedlv
Miic
NFO Research Inc
Toledo
Ohio
Fabian Linden
Consumer Research Center
Ises
Detroit
General Motors Corp
Ford Motor Co
Chrysler Corp
American Motors Corp
Volkswagen of America Inc
U.S
Harvey Heinbach
Merrill Lynch
Pierce, Fenner & Smith Inc
New York
Makluk oil well shows signs of being a dry hole
Diamond Shamrock and partners report initial Makluk well likely dry after investing over 176 million. Data deemed conclusive. further tests planned though not abandoned. If confirmed, outcome signals a major U.S. oil industry setback and raises questions for other Alaska projects.
MENTIONED IN THIS ARTICLE
Alaskan
Heautoil Sea
Liamond Shamrock Corp
Makluk
North America
Diamond Shamrock
Mukluk
U.S
J.L. Jackson
IBM forms systems technology division with plants in New York and Texas
IBM Corp creates a systems technology division based in Endicott led by Patrick Toole. It will oversee worldwide circuit design and domestic circuitry production, including plants in Broome County and a circuit packaging plant in Austin Texas. Previously these plants were in IBM's general technology division along with East Fishkill Poughkeepsie Burlington Vt and Manassas Va facilities.
MENTIONED IN THIS ARTICLE
IBM Corp
Systems Technology
Broome County
Austin
Texas
Endicott
Patrick Toole
IBM
General Technology
East Fishkill
Poughkeepsie
Burlington
Manassas
Hoole Named VP in Marketing Services at Key Banks
Helen Hoole of Delmar, vice president for systems development, is named vice president of the marketing services department at Key Banks Inc. Albany based bank holding company with $3.2 billion in assets. The bank also appoints Charles Cook of Clifton Park as assistant vice president in systems development.
MENTIONED IN THIS ARTICLE
Helen Hoole
Delmar
Key Banks Inc
Charles Cook
Clifton Park
S. M. Flickinger Reports Higher Earnings and Sales Change
S. M. Flickinger Co. Inc. posts 9.1 percent higher net earnings to 3.0 million in the 13 weeks ending Oct. 29, from 2.8 million last year, while sales edge down to 364.2 million from 371.4 million. Chairman Jerry Metcalf cites renovation activity as store-owner strength. declares 16.14 cent dividend payable Dec. 31 to stockholders of record Nov. 15.
MENTIONED IN THIS ARTICLE
S.M. Flickinger Co. Inc
Jerry Metcalf
Flickinger
Nec
Banking Rates Snapshot From Historical Table
The document lists approximate customer rates across banks for various instruments. Prime rate 11.00 percent, discount rate 8.50 percent, federal funds 9.53 percent, treasuries 8.91 percent, 3 month bills 9.11 percent, 6 month certificates 9.15 percent, passbook 9.25 percent, savings bonds 11.00 percent. Municipal bonds shown at 8.91 percent.
Volcker says Fed policy remains steady with no major changes
Federal Reserve Chairman Paul Volcker told bankers at a Waldorf Astoria luncheon that monetary policy has not undergone major shifts in recent months. He noted that growth in the money supply has been calm, rates remain high in real and nominal terms, and a near-term rate cut is unlikely.
MENTIONED IN THIS ARTICLE
Paul A. Volcker
Federal Receive Board Caye
Volcker
National Council of Savings Institutions
Waldorf-Astoria Hotel
New York City
Fed
Volcands
Federal Reserve
Ford UAW retraining program aims to upskill 109,000 workers
Ford and UAW officials describe the New Avenues for Employee Growth program as the next phase of an education and training plan from last year’s concessions contract. The 5 to 6 million dollar annual cost will be funded by contributions from Ford and the UAW, tied to hourly wages.
MENTIONED IN THIS ARTICLE
Standard & Poor’s Corp
Marine Motors
S&p
Ford
United Auto Workers
UAW
Stephen Yokich
Chrysler workers receive stock under 1979 act
About 68 000 U S Chrysler employees each gain roughly 19.6 shares worth 548 dollars as the four year government stock program progresses toward a June 30 deadline. The shares are placed in a trust until retirement or departure. Iacocca also criticized a GM Toyota joint venture, predicting higher consumer prices and noting the two firms are top rivals in the auto field.
MENTIONED IN THIS ARTICLE
U.S. Chrysler Corp
Chrysler
Lee Iacocca
General Motors
Toyota
Iacocca
Donahue
Gulf group aims to ease stockholder fears in proxy war
James McElroy, hired by the Berinstein family of Syracuse, says the Gulf Shareholders Committee seeks to aid worried investors amid Gulf Oil’s proxy fight with Mesa Petroleum chair T. Boone Pickens who owns 12 percent. The group would research and organize for nonaligned shareholders, pursuing broader support beyond the Berinsteins’ 3700 shares worth about 160000 dollars. Results of the vote on Gulf’s Delaware reincorporation expected around December 22.
MENTIONED IN THIS ARTICLE
Gulf Oir Corp
Syracuse
James McElroy
Chevy Chase
Berinstein
William Berinstein
McElroy
Gulf Shareholders Committee
Gulf Management
Mesa Petroleum Co
T. Boone Pickens
Pickens
Berinsteins
Gulf
Delaware
Berinstein Group
Raymond Corp reports record November orders rising sharply
Raymond Corp announces November orders totaled a record 13.52 million dollars, surpassing the prior monthly peak of 12.4 million set in March 1979. George G. Raymond Jr. said orders rose across all product lines at the Greene based company with a service center on Kirkville Road near East Syracuse. He attributed the upturn to a long awaited positive effect on the Raymond Corp.
MENTIONED IN THIS ARTICLE
Raymond Corp
George G. Raymond Jr
Kirkville Road
Syracuse
Uary
Fields
BFT
BFI
Utica
Maine
Hartford
Boyce
Growing Utica firm eyes market for phone extras
BF Communications Systems Inc, a growing Utica area high tech company, aims at the $200 million market for phone add on devices. President Robert A. Fields says BFI will target Bell operating companies and NYNEX after the AT&T break up, with seven products planned by January and a shift toward local company business.
MENTIONED IN THIS ARTICLE
Ma Bell
BF Communications Systems Inc
Robert A. Fields
BFI
American Telephone & Telegraph Co
Att&t
Western Electric Supply
Phids
Radio Shack
Sears, Roebuck & Co
Bell
Nynex Corp
New York
New England
Spencer Boyce Iil
Fields
NYNEX
Rochester Telephone Co
Telenetwork Inc
Chicago
Also Mentioned on This Page
Cricago
Conference Board
Nad
Federal Jue
Treasury Bil
Sors
Congress
Treasury
New York Times
Yokich
Peter Pestillo
United Press International
UPI
Ford Workers
Associated Press
Gulf Group
Gulf Stockholders
Pitts
Marathon Oil
U.S. Steel
Raymond
Steve Geimann
Crane
Bell System
Western Electric
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