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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jul 29, 1992
Page
18
Lexus maintains lead in a JD Power survey of new-car owners, with Infiniti, Cadillac, Lincoln, and Saturn also ranking high. Saturn rises to fourth as Mercedes slides to sixth. over 45,000 owners surveyed after three months.
Ford Motor Co advances as the second U.S. automaker to report improved second quarter earnings. Analysts boosted estimates citing strong light truck sales and direct auto sales to individuals. Chrysler also posted surprising profits while USX and LTV showed sizable gains from tax and asset adjustments and a Humvee business sale. The stock market climbed as lower rates and auto profits buoyed investors despite weak consumer confidence in July. The Dow rose 51.87 to 3334.07, its biggest gain in over six months.
Results from a JD Power and Associates survey of 45 000 new car and truck owners three months after purchase. Dealers salespeople and vehicle condition are evaluated across brands with rankings for Lexus Infiniti Cadillac Saturn Lincoln Chevrolet Oldsmobile GMC Toyota Ford Plymouth in a multi brand list.
Niagara Mohawk installs a $2.5 million catalytic unit in Unit 5 at the Oswego Steam Station to reduce nitrous oxides from oil burning. The experiment, funded by NI Mo Mohawk, EPRI, Empire State Electric Energy Research Corp, and two catalyst makers, runs three years to test durability and potential wider use.
IBM plans to cut earnings by 900 million to 1 billion this year to cover severance and costs tied to an unexpectedly large early retirement program. The company said about 32,000 employees may leave this year, up from an initial 20,000 target, with potential total exits reaching 40,000.
Pittsburghs two daily papers the Pittsburgh Press and the Pittsburgh Post Gazette stopped publication amid a two day attempt to distribute copies during a truck drivers strike. Negotiations with the drivers union resumed as officials blamed violence by picketers for suspending publication and damaging replacement delivery trucks.
Sheik Kamal Adham of Saudi Arabia, once head of Saudi intelligence, pleads guilty to a misdemeanor under New York banking law in the BCCI takeover of First American Bankshares. He receives a conditional discharge and agrees to cooperate. Indictments of Clark Clifford and Robert Altman are expected.
Malcolm Berko cautions a 60 year old with six months to retire about rolling over 300000 into three funds. He argues the $100000 allocations to Shearson Government Securities Fund Invest ing Grade Bond Fund and a 9 percent CMO risk major inflation erodes real value. He urges a portion in common stocks for growth and income. He cites Harland Phillip Morris and others as long term winners and notes readers should research beyond Berko’s column.
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