WPPSS defaults on 2.25 billion bond debt halting two nuclear plants
The Washington Public Power Supply System admitted it cannot pay its debts as they come due after a $25 million payment, triggering an immediate default and a potential suit by Chemical Bank. The crisis follows construction cancellations on nuclear projects Nos. 4 and 5, with far reaching implications for ratepayers in the Pacific Northwest. Exxon reports a 26.6 percent rise in Q2 profit to 1.08 billion, while other majors show mixed gains and losses. Merrill Lynch and Sears post strong Q2 gains, Mattel warns of a substantial first-half pre-tax loss, Coca-Cola shows a 14.7 percent earnings rise, Hughes Tools incurs a loss, and Pan American World Airways posts a Q2 profit of 10.4 million.
MENTIONED IN THIS ARTICLE
Washington
U.S
Pacific Northwest
Chemical Bank of New York
William Berls
Chemical Bank
WPPSS
Berls
Gary Peterson
Exxon Corp
Standard Oil Co
Indiana
Amerada Hess Corp
Atlantic Richfield
Unacal Corp
Union Oil Co
California
Ashland Oil Inc
Exxon
Coca-Cola
Hughes Tao
Pan American World Airways Today
S&ls
Insurance Corporation
Beesley
Troy
William E. Rogers
Rensselaer Polytechnic Institute
Rogers
Power Kinetics, Inc
RPI
Saudi Arabia
Power Kinetics
Chicago Bridge and Iran Co
Bank Customer Rates Variability Noted
Rates to customers may vary from bank to bank. Customer rates listed here are approximate.
S&L Lending Soars In New York State In 1983 First Half
The New York League reports 93 savings and loan associations lent nearly 1.8 billion in the first six months of 1983, more than double 1982. June loans total 337 million, with 165 million in June 1982, raising 1983 full-year potential to about 4 billion amid rate pressures.
MENTIONED IN THIS ARTICLE
New York
Savings and Loan Associations
New York League of Savings Institutions
League
Paul Schosberg
Savings and Loan
S&l Insurance Fund
Brent Beesley
Direc
Auto and housing sales boost economic rebound
Mid July saw auto sales rise sharply with domestic cars up 38.3 percent from a year earlier and the six major automakers reporting strong gains. Housing resales in June edged up 1 percent amid higher mortgage rates, while Treasury rates fell slightly, allowing banks to lift savings certificate rates. The White House trimmed the 1984 deficit outlook to 179.7 billion and linked the revision to higher expected revenues from a stronger economy.
MENTIONED IN THIS ARTICLE
White House
National Association of Realtors
Treasury
Savings and Loan Associations
U.S
American Motors Corp
General Motors Corp
Harvey Heinbach
Merrill Lynch
Pierce, Fenner & Smith Inc
New York
Chrysler Corp
Ford Motor Co
Office of Management and Budget
Congress
Edwin L. Dale
Jack Carlson
S&ls
Chrysler readies reply to UAW demands in early talks
Chrysler bargainers prepare to respond to UAW demands for profit sharing and an immediate at least one dollar per hour raise as negotiations begin six months before the current pact expires. Bieber notes Chrysler’s recent profits and loan repayments while unions seek parity with GM and Ford. talks could stretch late into today with a Huntsville Chrysler council meeting planned. Canadian talks with Chrysler Canada Ltd. in Toronto involve 10,000 autoworkers set for more discussions today.
MENTIONED IN THIS ARTICLE
Chrysler Corp
United Auto Workers Union
Automaker Institute
U.S
UAW
Owen Bieber
Chrysler
Bieber
General Motors Corp
Ford Motor Co
Ford
Chrysler Council
Huntsville
Ala
Chrysler Canada Ltd
Toronto
RPI incubator fuels high tech firms in Troy area
RPI’s incubator program nurtures fledgling high tech ventures in Troy. Power Kinetics, Raster Technologies and others gain office space and university resources, fueling rapid growth and attracting firms like National Semiconductor to the planned North Greenbush technology park along the Hudson.
MENTIONED IN THIS ARTICLE
Power Kinetics
RPT
Raster Technologies, Inc
RPI
Hattie Howe Akres
Boston
Troy
United States
John Elliott
Consultech Communications
Robert Vogel
Elliott
George M. Low
National Aeronautics and Space Administration
Low
Stanford
California
Silicon Valley
North Greenbush
Rensselaer Technology Park
Hudson River
Empire State Plaza
Albany
National Semiconductor Corp
Optoelectronics
Thomas Field
Texas
Pachmur Bearings, Inc
Field
Stetson-Dale
Also Mentioned on This Page
Sears Roebuck
Mattel
Tor
Federal Savings and Loan Insurance Corp
Associated Press
Federal Home Loan Bank Board
Bank Board
S&l
Bank Fund
Federal Deposit Insurance Corp
William Isaac
Insurance Fund
Thomas Miner
Center
Marc Stepp
Detroit
New York State
Marcian Hoff
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