Dollar Dips Across Currencies Amid Armistice Holiday
The dollar fell against major currencies with a 227.50 yen close in Tokyo and $1,8845 per pound early, while Paris and New York markets were closed for Armistice Day. Gold held steady near $411.50 to $413 an ounce as silver edged up to $8.59 in London. Corporate tax leasing deadlines threaten Treasury revenue. American Motors asks staff to forgo pay rises. Genstar and Rockwell report mixed earnings. CBOT protests NYFE linkage plans.
MENTIONED IN THIS ARTICLE
Tokyo
Europe
Paris
New York
London
Zurich
Handy & Harman
Skeptical Outlook for Christmas Retail Season
October sales at major retailers were weak with Montgomery Ward and Woolworth reporting declines. Analysts foresee third quarter profits tumbling up to 60 percent from a year earlier, while forecasters split on whether Christmas will rebound. Industry leaders warn that unemployment and high rates press on consumer purchasing though some optimists expect a strong holiday if tax cuts lift discretionary income.
MENTIONED IN THIS ARTICLE
Isadore Barmash
New York Times
Montgomery Ward & Co
F. W. Woolworth Co
Terence J. McEvoy
Dean Witter Reynolds Inc
Howard Goldfeder
Federated Department Stores Inc
Bloomingdale's
Abraham & Straus
Fabian Linden
William P. Arnold
The
Asso
Ciated Dry Goods Corp
Arnold
Lord & Taylor
Joseph Horne’s
Pittsburgh
J. W. Robinson
Los Angeles
Reagan
Edward Johnson
Johnson Redbook Service
Prescott, Ball & Turben
Wortley urges productivity upturn at trade fair dinner
Syracuse congressman George C. Wortley told the Purchasing Management Association at LeMoyne Manor that Americans must reverse the decline in productivity and compete for international business. He urged giving Reagan’s economic program a chance, praised signs like falling interest rates, and warned that U S industries have fallen behind rivals, endangering national defense and the economic base. The event coincided with the Central New York Trade Pair at the State Fairgrounds, featuring 322 displays from more than 200 companies.
MENTIONED IN THIS ARTICLE
Upstate
New York
Joseph A. Porcello
Syracuse
George C. Wortley
Purchasing Management Association
LeMoyne Manor
Wortley
Reagan
Central
Pearl Harbor
Wortly
United States
undervalued quality stocks amid bear market revival
A Market Analysis Focus piece by Mark A. Boyar argues many quality firms trade at low market values, with around 300 candidates post 1974 bear, some showing solid balance sheets. He notes Bell & Howell at 17.44 per share with book value far higher, and splits lists into two groups of undervalued stocks, urging diversification and caution.
MENTIONED IN THIS ARTICLE
New York Times
New York
Mark A. Boyar
Bell & Howell
Bell
Boyar
Older workers valued more by executives study notes
A Mercer study summary argues senior leaders view older workers as more valuable, contrasting 1960s beliefs that workers peak by age 50. Employers doubt age discrimination exists in their firms yet foresee rising suits and stronger regulation as the older workforce grows.
MENTIONED IN THIS ARTICLE
William M. Mercer
Employers face aging workforce and retirement policy gaps
The survey shows two thirds of firms lack formal pre-retirement education yet view it as necessary to ease transitions and aid choices. By 1990s, aging workers rise while youth decline, prompting pension plan changes, higher retirement ages, and a push to retain older employees amid inflation and labor shortages.
MENTIONED IN THIS ARTICLE
United States
Mercer
America
Also Mentioned on This Page
Sam
Business Digest
Treasury
American Motors
UAW
Chrysler
Genstar
Rockwell International
Incinnati Milacron
Chicago Board of Trade
New York Futures Exchange
NYFE
Chicago Board
Tomers
Jeffrey M. Fenner
Merrill Lynch, Pierce, Fenner & Smith
Congressman Wortley
Sylvia Porter
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