Global markets slide as dollar weakens and rates fall
The dollar declined for a fifth straight day in Europe and Asia as U.S. rate cuts and weaker economy signals weighed markets. Gold rose toward $500 an ounce amid dollar weakness and Warsaw Pact maneuvers in Poland, while silver climbed in London. Banks cut prime lending rates, air fare discounts spread, and major deals collapsed as auto industry relief plans remained split on import restraints.
MENTIONED IN THIS ARTICLE
Europe
Japan
U.S
Poland
Zurich
London
New York
Aspirations and realities on collision course
Steve McColl, 6, denied tenure at a major eastern university, reflects on career squeeze, salary declines from 14 500 to 11 000, and the strained outlook for middle Americans as inflation, tax policy, and corporate profits reshape the 1980s. The piece contrasts credentials and security with the shift toward forked paths and rising living costs.
MENTIONED IN THIS ARTICLE
Robert C. Yeager
Stanford
Steve McColl
Eastern University
McColl
McColls
Steve
University of California At Los Angeles
American Council On Education
Profits and GNP slow as economy cools in Q4
The government reported that after tax profits rose 3.1 percent in the fourth quarter of 1980 while pre tax profits gained 4.9 percent. Real GNP advanced 3.8 percent to 2.7 trillion, with inflation near 10 percent. Industrial production slipped 0.5 percent in February, housing starts fell 25 percent, and personal income rose 0.7 percent, signaling a broad economic slowdown amid high interest rates.
MENTIONED IN THIS ARTICLE
America
University of Michigan
Institute For Social Research
William Greider
Washington Post
Land of Plenty
Robert C. Yeager
McGraw-Hill Book Co
King Features
Synaicate. Inc
Washington
Commerce Department
Department
David Ernst
Federal Reserve Board
Commerce
Malcolm Baldrige
Congress
Ernst
Evans Economics Inc
William Cox
Cox
Rockwell sale draws few bidders on Marcellus site
The former Rockwell International plant on Marcellus Street near W Fayette Street faces a likely open auction with only two local inquiries. Chamber fears a low bid could mean the buyer seizes salvagable material, leaving an empty shell and city demolition headache.
MENTIONED IN THIS ARTICLE
Rockwell International
Marcellus Street
Greater
Syracuse
Chamber
Erwin G. Schultz
Capital gains tax cut favored by business leaders
Business leaders say a capital gains tax cut would better spur production and jobs than Reagan’s plan, favoring smaller firms and faster depreciation as key relief. Executives from Altamis Corp and W R Grace & Co cite broad benefits, while U S Steel notes sizable tax savings under the proposal.
MENTIONED IN THIS ARTICLE
Leonard Curry
Newhouse
Washington
Reagan
Congress
Coun
Melvyn N. Klein
Altamis Corp
Corpus Christi
Texas
Klein
Peter Grace
W.R. Grace & Co
Grace
U.S. Steel
David Roderick
Chamber backs tax cuts in Reagan program display
The U S chamber of commerce endorses Reagan tax and spending cuts as essential to curb inflation. Dr Richard W Rahn cites expected 10 percent annual income tax cuts for three years, reduced spending, and regulatory relief as paths to lower inflation toward 7 percent by 1983 and possibly 2 percent by the 1980s. He notes short term costs for some industries but urges broad public pressure on lawmakers.
MENTIONED IN THIS ARTICLE
Joseph A. Porcello
Reagan
U.S. Chamber of Commerce
United States
Richard W. Rahn
Syracuse
Greater Syracuse Chamber of Commerce
Syracuse Chamber
Rahn
U.S
Your Money's Worth and the Japanese Economy
The piece argues American readers ignore Japan's economy while Japanese banks write off Chrysler loans to gain more U.S. loan guarantees. It notes a Society to Encourage America, Japan's insecurity about 1980s supply, and the need for the United States to study Japan's achievements to breach trade barriers. It highlights cultural arrogance and the mutual desire to be liked to ease commerce.
MENTIONED IN THIS ARTICLE
U.S
Chrysler
America
Uur
United States
Also Mentioned on This Page
Chapter
Business Digest
Marine Midland Bank
United
American Airlines
Trans World Airlines
Sohio
US. Steel Corp
Standard Oil Co
Ohio
Detroit
Roger 8. Smith
Dayton Hudson
Woolworth
Betty
Rockwell Sale
Rhan
Asahi
Brooke Shearer
Asia
Tokyo
By Sylvia Porter
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