Holiday shoppers brighten retailers as post holiday sales rise
The region saw retail volume improve over last year despite a weak national Christmas season. Sears manager Fred Rosenberg cited strong January sales and aggressive advertising. JC Penney's Joseph McCarthy reported gains from 15 to 20 percent across locations, while Downtown Syracuse officials noted cautious shopper behavior near Christmas. Analysts warned the year may end weak but forecast stabilizing profits due to lower rates, expense control, and inventory discipline.
MENTIONED IN THIS ARTICLE
Fred Rosenberg
Sears, Roebuck Co
Penn Can Mall
Joseph McCarthy
J.C. Penney
Shoppingtown
DeWitt
Camillus Plaza
Sears, Roebuck and Co
Kmart Corp
J.C. Penney Co
Federated Department Stores Inc
Dayton Hudson Corp
Feiner
Edelman
Dollar Gains Against Currencies Amid Rate Outlook
The dollar strengthened versus major currencies in early European trading on expectations of higher U.S. rates, with gold and silver levels fluctuating worldwide. In Tokyo the dollar rose to 230.95 yen, London quotes showed 1.5995 dollars per pound, and New York gold moved up 14.30 to 468.80 an ounce as money funds assets fell to 206.7 billion.
MENTIONED IN THIS ARTICLE
U.S
New York
Tokyo
London
Europe
Hong Kong
Handy & Harman
Handy & Hartman
Burlington deal with El Paso may require asset sale
The Justice Department and Burlington Northern outlined a plan to address antitrust concerns if Burlington acquires El Paso. If blocked, Burlington would divest El Paso’s Northern Plains coal reserves to preserve competition. American Bell unveils its first programmable consumer telephone.
MENTIONED IN THIS ARTICLE
Justice Department
Burlington Northern
Burlington
el Paso
Northern Plains
American Bell
Zenith-Taft pad Zenith Radio deal for teletext gear
Zenith Radio will produce teletext receiving equipment for Taft Broadcasting. Braniff faces last hurdle to new Pacific Southwest venture. A record 269,400 U.S. auto workers are laid off this week. Major automakers plan to boost production by 51.4 percent versus last year. Canada's jobless rate rises to 12.8 percent in December, highest since the 1930s, with 12.7 percent in November and 8.6 percent in December 1981.
MENTIONED IN THIS ARTICLE
Zenith Radio
Taft Broadcasting
Braniff
Pacific Southwest
U.S
Canada
Statistics Canada
Railroads gain freedom to operate trucking services nationwide
The Interstate Commerce Commission ended 48 years of limits on railroads entering trucking, aligning with the 1980 Motor Carrier and Staggers Acts to boost competition. The move draws swift opposition from the American Trucking Associations, which vows to seek reconsideration or appeal. The commission abolishes the infant industry protections, allowing rail affiliates to offer full motor carrier services, ending the incidental carriage restriction. The trucking industry has long fought deregulation, arguing market saturation and overcapacity.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce Commission
ICC
American Trucking Associations
Commission
United States Court of Appeal
Nelson Cooney
Trucking Association
U.S. Court of Appeals For
District of Columbia
Association of American Railroads
Stock market extends rally to new highs
New York AP The stock market rallied to record highs as the Dow Jones average rose 26.03 to 1,070.92. Nearly 130 million shares traded, the ninth largest total on record, with analysts citing signs of an economic recovery and lower unemployment claims as fueling hope.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Hugh Johnson
Phillips to Acquire General American in $1.14 Billion Deal
General American Oil agrees to be acquired by Phillips Petroleum for about 1.14 billion dollars at an average 45 dollars a share for 25.4 million shares. Mesa Petroleum drops its bid, and a tender offer for 10.3 million shares. Phillips also plans to buy 7.5 million shares with Meadows Foundation. Mesa will receive 15 million to cover expenses, and warrants a five year restriction on buying General American Securities.
MENTIONED IN THIS ARTICLE
New York
General American Oil Co
Texas
Phillips Petroleum Corp
Mesa Petroleum Co
General American
Phillips
Mesa
Dallas
Bartlesville
Ohka
Amarillo
Meadows Foundation
Algur H. Meadows
Genera American
General American’s
New York Stock Exchange
Syracuse Auto Show Highlights 1983 Models
Syracuse Automobile Dealers Association hosts an auto show featuring more than 200 models of 1983 cars vans and light trucks from U S and foreign makers. Zimmer production sold by Bill Rapp Pontiac runs at about one per day.
MENTIONED IN THIS ARTICLE
Syracuse Automobile Dealers Association
U.S
Bill Rapp
Pontiac
Also Mentioned on This Page
Jeffrey Edelman
Dean Witter Reynolds Inc
Jeffrey Fenner
Merrill Lynch, Pierce, Fenner & Smith Inc
Zenith-Taft
Albany Corp
Labor Department
DOW Jones
Onondaga County War Memorial
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!