Builders urge shrinking homes to fit rising costs
Las Vegas reports show NAHB members foresee a return to 1950s style compact houses as mortgage rates stay volatile. Economists warn of a widening gap between new home costs and what Americans can afford, with 1,000 square foot minimums and fewer amenities likely.
MENTIONED IN THIS ARTICLE
New York Times
Las Visgas
Nev
Nagon
National Association of Home Builders
United States
Lnter
Thomas Garafalo
Waterbury
Conn
Detroit
Hank Chism
Las Vegas
Global bullion prices slide as dollar strengthens in Europe
Bullion prices fell across London Zurich and Hong Kong, with gold down to about 528.50 in New York trading and silver tumbling from 14.38 to 13.30 per ounce. Analysts cited high U.S. rates and Far East selling, while oil and gas spending hint at lower American fuel use next year.
MENTIONED IN THIS ARTICLE
U.S
Far East
London
Zurich
Hong Kong
New York
Handy & Harman
Commodity Exchange
Auto giants face record 1980 losses amid wrecked industry
Wall Street foresees a $4.2 billion 1980 deficit across U S automakers led by Ford Chrysler and GM with GM possibly turning a quarterly profit. Ford and Chrysler face steep losses while American Motors also posts a fourth quarter deficit. Industry jobs and dividends suffer as stock prices tumble.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors Corp
Wall Street
U.S
Ford Motor Co
Chrysler Corp
Arvid Jouppi
John Muir Co
Ford
Jouppi
Chrysler
David Healy
Drexel Burnham Lambert, Inc
American Motors Corp
Keller
Citicorp Becomes Biggest U.S. Bank for 1980
Citicorp edged BankAmerica to take the top spot in 1980 with assets near 115 billion dollars, surpassing Bank of America which ended the year second at about 112 billion. Bank of New York rose to 25th with assets around 10.4 billion, while First Pennsylvania dropped off the list. Six other bank holding firms advanced, led by Texas Commerce Bancshares.
MENTIONED IN THIS ARTICLE
New York Times
New York
Citicorp
Gan
BankAmerica Corp
Citicarp
Bank of New York Co
Bank of America
BankAmerica
Bank America
California
Citibank
Na2 Bank
First Pennsylvania Corp
United States
First Pennsylvania Bank and Trust Co
Philadelphia
First Penn
Bank of New York
Texas Commerce Bancshares Inc
RCA chairman resigns after tough year at RCA
Edgar Griffiths will resign as RCA chairman and president on July 1 after five years of leadership. Thornton Bradshaw of ARCO will succeed him, with Kieschmek as new president and COO. Griffiths will stay as a director and chair finance, drawing 450000 a year as a five year consultant.
MENTIONED IN THIS ARTICLE
New York
Edgar H. Griffiths
RCA
Griffiths
Thornton F. Bradshaw
Atlantic Richfield Co
Los Angeles Times
ARCO
Leslie Slate
Bradshaw
Slate
International Telephone & Telegraph Co
Maurice P. Vatenic
Growth fuels interest in Washington budget signals
New York analysts expect some good news from Washington on deficits but doubt long term rates will fall much due to stubborn inflation and high short term rates. Goldman Sachs notes real GNP rose despite high prices, while economists foresee a mild dip next half year with inflation remaining around 10 percent. The Fed may keep overnight rates at 17 to 19 percent for weeks.
MENTIONED IN THIS ARTICLE
New York
Washington
Maury Harris
Paine Webber Inc
House of Representatives
Goldman, Sachs & Co
Commerce Department
Goldman, Sachs
Federal Reserve
Mortgage backed investments offer high returns and varied risk
Investors are offered a wide range of mortgage backed certificates from Ginnie Mae and Freddie Mac including pass throughs and trusts. These securities promise high periodic payments, government guarantees on some, and shorter maturities, but liquidity is limited and amounts for investment can be large. Investors should seek trusted broker guidance and avoid unknown ads.
MENTIONED IN THIS ARTICLE
Choise
Wall
Bames
America
Moorscape
Treasury
Ginnie Mae
Ginnie Mars
National Mortgage Association
Federal Housing Administration
Veterans Administration
Freddie Macs
Federal Home Loan Mortgage Corp
Freddie Maes
Ginnie Mae Trusts
Merrill Lynch
Paine Webber
Cauban
Also Mentioned on This Page
Syracuse Herald-Journal
Business & Realléstate
Business Digest
Dan Lundberg
Lundberg
Ford-Gm
Lord Motor Co
Buffalo Stamping
Tonawanda
Delow Products Division
Rochester
Officuilssay
Alee
Control Data Corp
Marvin G. Rogers
Control Data
Morton- Norwich
Morton Norwich
Norwich
Alls Chalmers Corp
Barny Economenet
Edekipany
Aod Ced
Sind Peadits
Maryann Keller
Paine Webber Mitchell Hutchins, Inc
Eason Mechanical Contractor
Solar Street
New York Times Service
Gintie Maes
By Sylvia Porter
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