Earnings slide in third quarter prompts mixed outlook
Third quarter profits fell 15 to 20 percent from 1981 levels as weaker demand and a sharp Mexican peso devaluation offset gains from cost cuts and lower rates. CitiCorp and Wells Fargo posted gains, airlines improved, but American Airlines profit fell. drug firms faced currency headwinds. mining, steel, chemical sectors showed declines. auto makers forecast weak results amid falling production.
MENTIONED IN THIS ARTICLE
David Cross
Chase Econometrics
David Levine
Sanford C. Bernstein & Co
Banking
Financial Service
Eee
Citicorp
Wells Fargo
Nick Babounakis
Oppenheimer & Co
UAL Inc
United Airlines
Trans World Corp
Western Airlines
Ehough
American Airlines
Frederic Greenberg
Goldman, Sachs & C
Charles Bradford
Merrill Lynch, Pierce, Fenner & Smith
Kaiser Steel
Inland Steel
Armco
Republic Steel
Dollar strengthens on rate hopes amid currency gains
The U S dollar rose against major currencies in European trading with a record high against the Italian lira as traders anticipated higher U S rates. Gold fell up to $9 an ounce in London and New York while Treasuries traded higher. US automakers cut Q4 truck production by about 22 percent from planned 515,000 to 404,000. Alcan Aluminium and British Aluminium Co consider a merger. Alcan is Canadian owned and British Aluminium is 58 percent Ti Group owned.
MENTIONED IN THIS ARTICLE
U.S
London
New York
U.S. Federal Reserve ‘Board
Fed
Treasury
Tokyo
Milan
Zurich
Hong Kong
Commodity Exchange
Handy & Harman
Ward
British Aluminium Co
Alcan Aluminium U.K. Ltd
Alcan
Alcan Aluminium Ltd
Canada
British Aluminium
Ti Group
Tube Investments
Fulcon
Lincoln Banks Income Sets Record in Third Quarter 1982
Lincoln First Banks Inc Central Division in Syracuse reports record third quarter 1982 results with income before securities trades at 8.86 million, net income 7.376 million or 1.76 per full diluted share, up from 1981. Nine month net income 18.037 million or 4.52 per share. Asset total 3.90 billion. loans 2.293 billion. deposits 2.801 billion. core deposits rise. Board declares quarterly dividend 0.50 on common and 0.2625 on convertible preferred, payable Nov 1 to record holders Oct 21.
MENTIONED IN THIS ARTICLE
Lincoln First Banks Inc
Syracuse
Alexander D. Hargrave
Lincoln
Pay raises likely to trail 1983 inflation, survey finds
United Press International reports a survey of over 1,000 firms shows employees may see pay hikes about one percent less than the 9.1 percent 1983 inflation rate. About 75 percent of companies expect raises at normal intervals, while a quarter plan stretch-out or freezes. Citicorp economist Alan Murray predicts 1983 retail sales rise and inflation dipping to 5–6 percent with lower rates ahead.
MENTIONED IN THIS ARTICLE
Sibson & Company Inc
Princeton, N.J
Sibson
Citicorp
Alan Murray
Washington
Murray
Sibley Stores Open China Trade Line
Sibley's Department Store chain becomes the first U.S. retailer to establish a China trade channel after negotiations. Rochester based stores in Syracuse and Fayetteville list handcrafted items from ivory to jade and silk, plus Chinese furniture and souvenirs.
MENTIONED IN THIS ARTICLE
Sibley’s Department Store
United States
People’s Republic of
Sibley’ S Department
Rochester
Sibley’s
Syracuse
Fayetteville
Sharon Cross
China
Cross
Aude
Chia Zemin
Tool orders sluggish in September
The machine tool industry showed little recovery in September with net new orders at $86.8 million, similar to August and 54 percent below September 1981 levels. Shipments rose slightly to $273 million, but were 8 percent below 1981. For the year to date, orders fell 51 percent to $1.17 billion and shipments dropped 22 percent to $2.94 billion. Backlogs stood at $1.526 billion, enough for 5.5 months of production at September shipping rates.
MENTIONED IN THIS ARTICLE
Lee
Your Morkey's Worth and the ABCD guide buyers
The piece warns micro computer buyers face rip offs as product variety explodes. It notes experts and dealers often miss the crucial 10 percent gap. Seymour Mervin and Sylvia Porte discuss the ABCD formed to help shoppers avoid traps and find suitable systems.
MENTIONED IN THIS ARTICLE
Seymour Mervin
Association of Better Computer Dealers
ABCD
Choosing a computer system without getting ripped off
The guide urges identifying needs, selecting a qualified dealer, prioritizing software, demanding hands-on demo, and avoiding haggling. It emphasizes software value, custom needs, and ensuring dealer support to prevent costly misfits.
Also Mentioned on This Page
Syracusee Herald-Journal
Nan
Pfizer Inc
Eli Lilly
Pharmaceutical
Chemical Companies
Union Carbide
Monsanto
Weyerhaeuser
Georpatel
Caterpillar Tractor
Allis- Chalmers
International Business Machines
NCR Corp
JohnManus
Shearson- American Express
Honeywell
Burroughs
Lockheed
Tobacco
Philip Morris
R. J. Reynolds
Avid Eisenberg
Sanamd
C. Bernstein
General Motors
Ford
Chrysler
Hisenberg
Ing
Learningship
Standard Oil
Indiana
International Harvester
Ned
Harvester
Aluminium Merger
Lincoln Banks
Kinne Road
DeWitt
Hills Department Stores
Ob- Stephen Goldberger
Hills
Scoa Industries
Widewaters Plaza
Erie House
United Press International
Sibley Stores
Tool
Sylvia Porte
Mai
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!