Dollar rises as gold slips in early European trading
In early European trading the dollar gained against major currencies after a Tokyo dip while gold prices eased. London fixed at 528 amid a 540.50 previous close, with Hong Kong and Zurich prices lower and New York quotes at 328 an ounce. Silver sits at 13.04 in London. GM weighs plant closure in Clark NJ, threatening 2100 jobs. Tax relief slated as 5 percent annual cuts for three years. St Joe Minerals targets over 1 billion stock buyback to thwart Seagram bid. Noranda-MacMillan Sloedel deal valued at 497.4 million Canadian. FTC says Exxon takeover tied to internal study rather than tech absorbtion. Industrial output among major trading partners up 1.8 percent. Japan up 6.9 percent for January, France and Canada down.
MENTIONED IN THIS ARTICLE
Tokyo
London
Zurich
Hong Kong
New York
Handy & Harman
Commodity Exchange
St. Joe Minerals
Joseph E. Seagram & Sons
New York Job Incentive Program Draws Criticism
A New York State plan begun in 1968 to aid small manufacturers in distressed urban areas has evolved into a broad tax relief program. 1,762 companies now receive credits averaging tens of millions annually, though critics say benefits go to firms that would have expanded anyway. Officials acknowledge flaws and possible reforms while defending the program as a key economic development tool.
MENTIONED IN THIS ARTICLE
New York Times Service
New York
Stanley Fink
William B. Redman
Commerce
Redman
Miller Brewing Co
Philip Morris
Franz&. Leichter
Manhattan
Nancy Shea
Edward V. Regan
Regan
Hugh Carey
Comptroller
Nelson A. Rockefeller
Housing slump drags down mills, stores, and builders
The housing downturn spreads beyond homebuilding to sawmills, cement plants, appliance retailers, and real estate firms. February starts and building permits fell 25 percent as economists warn the economy remains pressured by high mortgage rates and weak home sales.
MENTIONED IN THIS ARTICLE
Glenn Britt
Associated Press
Washington
Michael Sumichrast
National Association of Home Builders
Clayton Egner
Kansas City
Labor costs key factor for Conrail
The U S Railway Association criticized Reagan plans to dismantle Conrail and sell its profitable routes. Stephen Berger urged two years to fix labor issues, warning the decision hinges on labor protections for laid off workers. Conrail employs about 76,000 across 17,000 miles, with labor costs 46 percent of revenue, higher than Southern Railway’s 42 percent.
MENTIONED IN THIS ARTICLE
Washington
Conrail
Stephen Berger
U.S. Railway Association
Congress
Berger
Mot .Gee
Auto makers surge as rebates lift mid March sales
U S automakers posted 322 793 cars sold in the March 11 20 window up 28 5 percent from a year earlier led by General Motors with 219 467 vehicles up 42 percent and Ford down 8 1 percent Chrysler up 18 1 percent while Volkswagen Rabbits fell 17 3 percent amid a seasonally strong pace and hopes for continued momentum through the month.
MENTIONED IN THIS ARTICLE
Detroit
API
General Motors Corp
U.S
Pew
Ford Motor Co
Ford
Chrysler Corp
American Motors Corp
AMC
Volkswagen of America
MONY Fund Seeks Merger With MFDF in Boston
MONY Fund Inc move to merge into MFDF part of Massachusetts Financial Services. Negotiations announced Tuesday to allow tax free stock exchange based on net asset values. MONY to merge into MFDF pending stockholder vote. MFDF holds 160 million in assets with 20 678 stockholders.
MENTIONED IN THIS ARTICLE
Field News
Boston
Mony Fund Inc
Mutual Life Insurance Co
New York
Massachusetts Financial Services Co
MONY
Liva
Massachusetts Financial Development Fund Inc
MFDF
Massachusetts Financial Services
New York Insurance Company
MFS
Your Money's Worth The Car Book Critique
The 11.8. government publishes free guides from the Transportation Department that hype a new Car Book as safe and thrifty. Critics say it is an error filled, misleading, costly brochure misreading 1981 models and older cars, with flawed safety ratings and questionable ads, urging recall action by Congress.
MENTIONED IN THIS ARTICLE
Washington
Transportation Department
National Highway Traffic Safety Administration
NETSA
NHTSA
Environmental Protection Agency
Ie Nhtsa
Ralph Nader
Clarence Ditlow
Joyce Kinnard
Baok
MITSA
Also Mentioned on This Page
Business Digest
Uniess
Clark
Hyatt Bearings
Jack Carlson
House
Ways and Means Committee
St. Joe
Noranda Mines
MacMillan Sloedel
British Columbia
Exxon
FTC
Heliance Electric Co
Reliance
Westam
Tnotes
Stock Trading Outlook
Lynch & Co
Recare
Texaco
Vexaca
Tyree
Eastern Airlines
United States
Commerce Department
Japan
Italy
France
Canada
Germany
Netherlands
Schutte's Lumber Co
Egner
Glenn Crellin
National Association of Realtors
Home Builders Group
Richard Rohrbach
Boise Cascade
Dennis Hurtt
Philadelphia
United Way
Daniel Mexzalingua
Magnavox Caty Inc
Manlius
Manfirm
Stephen Chase
United
Chase
Magnavox
Assembly
Donna Sawyer
Helen Marsh
Mony Fund
Joan Claybrook
Bass
Volvo
Sweden
By Sylvia Porter
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