Proposed limits on bonds meet stiff opposition in Syracuse
New York City attorney Richard Sigal argues federal restrictions on industrial revenue bonds threaten local growth tools. He points to possible caps, nationwide $10 million per company limits, and reporting rules as arbitrary, risking manufacturing jobs and cross-border investment in New York and beyond.
MENTIONED IN THIS ARTICLE
Joseph A. Porcello
Congress
New York City
Richard Sigal
Sigal
State Economic Development Council
Syracuse
Chambers of Commerce
New York
Daga County
Habermass
Instruments
Armani Plumbing Co
Erie Boulevard
W. Fayette Street
Spena Rail
Unigard Insurance Co
Fay’s Drug Co
United Development Co
Secretary of the Treasury
Treasury Department
Cal
New York State
Northeast
Canada
Argentina
Ireland
West Germany
Habermans
Skaneateles
California
House
Ways & Means Committee
Gerge W. Cregg Sr
The
Economic Development Council
State Association of Idustrial Development Agencies
Dollar Fluctuations Across Currencies Hit Europe Markets
The US dollar showed strength in early European trading, hitting four year highs against the West German mark and Swiss franc while rising against the British pound. Gold prices stayed steady in London and fell slightly in Zurich as Tokyo trading ended. In Milan and Paris the dollar hit new records in lire and francs, with other rates easing against the mark and guilders. In New York banks trimmed prime borrowing rates to 20 percent, a move expected to continue. The FTC approved the 1.77 billion merger of Standard Oil (Ohio) and Kennecott Corp, with BP set to divest 6.8 percent of Amax within 30 months.
MENTIONED IN THIS ARTICLE
London
Zurich
Tokyo
Europe
Paris
New York Commodity Exchange Inc
Hong Kong
New York
Camex
Washington
Federal Trade Commission
Standard Oil Co
Ohio
Kennecott Corp
PTC
British Petroleum Co. Ltd
Sahio
Amax Inc
Amax
Kennecott
Janet Bass
April home sales fall 13.5 percent as mortgage rates rise
Washington reports new single family home sales dropped 13.5 percent in April to a seasonally adjusted annual rate of 441,000, the lowest since April 1980. The median price rose to 60,300, up 800 from seven months earlier, with total April sales at 42,000 and about 325,000 new houses on the market, a 9.3 month supply.
MENTIONED IN THIS ARTICLE
Washington
Departments of Commerce and Housing and Urban Development
Commerce-Hud
Auto giants press for labor concessions in UAW talks
The United Auto Workers faces pressure from Ford and General Motors to cut labor costs as Japanese rivals pay far less. GM and Ford cite high hourly costs around 19 dollars versus about 11 for Japanese firms, with profits and benefits under scrutiny. GM notes per car benefits near 900 dollars and medical costs at 15 billion dollars yearly, while Chrysler has already secured wage concessions. The unions resist reopening the 1982 contract, arguing past deals were necessary and urging a broader plan tied to profit sharing.
MENTIONED IN THIS ARTICLE
John Holusha
New York Times
Detroit
United Automobile Workers Union
Chrysler Corp
Ford Motor Co
General Motors Corp
U.S
General Motors
Roger B. Smith
Ford
G.M
UAW
Douglas A. Fraser
Smith
Orice
Chrysler
Victor M. Zink
Zink
Lee Price
United States
Bricklayer Strike Slows State Fairgrounds and Plant Work
A three day old bricklayers strike slows renovations at the State Fairgrounds Coliseum and Poultry Building and delays Skaneateles waste water treatment plant construction. Masonry layout is done but bricklaying not yet started. Wages aim to match Buffalo Rochester and Oswego levels. current Syracuse pay is 11.94 hourly. Employers offer 10.8 percent and 8 percent raises over three years. No date set for next meeting.
MENTIONED IN THIS ARTICLE
State Fairgrounds
Skaneateles
Joseph Cosco
Onondaga County
Jamesville
Cosco
Building Trades Employers Association
Buffalo
Rochester
Oswego
Syracuse
Overhaul of pension systems long overdue
A thoughtful call for pension reform argues the U S Social Security system needs updating to reflect living costs and a progressive tax system. It urges private pensions to be portable and safeguarded, promotes IRAs and Keogh plans, and highlights inequities in vesting and after tax effects with a vivid example.
MENTIONED IN THIS ARTICLE
United States
U.S
Also Mentioned on This Page
Onondaga County Industrial Development Agency
Onon
Business Digest
Bank of America
Citibank
Manufacturers
Hanover Trust Co
Wells Fargo Bank
Irving Trust Co
FTC
Edison
N.J
Escort
Lynx
Herald- Journal
By Sylvia Porter
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