Nettleton sale saves 178 jobs in Syracuse deal
Edward A. Tognani plans to purchase the 103 year old Nettleton Co to keep it operating in Syracuse and save 178 jobs. The project relies on Marine Midland Bank UDC JDA and local officials to push a ballot amendment increasing JDA bonds to 200 million.
MENTIONED IN THIS ARTICLE
Job Development Authority
Edward A. Tognani
A. B. Nettleton Co
Syracuse
Tognani
Robert T. Dormer
JDA
Nettleton
Tognoni
Dormer
State Urban Development Corp
UDC
New York State
Irwin Davis
Metropolitan Development Association of Syracuse
Robert F. Valentine
Greater Syracuse Chamber of Commerce
Lee Alexander
Robert E. Wehrle
Central Region
Marine Midland Bank
Midwest
Alexander
Wehrle
Marine Midland
State Commerce Department
Balot
Dollar slides as US economy cools and gold firms
The dollar weakened against major currencies amid rate cuts and signs of recession. Gold rose slightly with London and Zurich prices around 427 per ounce, while New York Comex gold gained. Corporate results showed mixed profits with Xerox down and Nabisco up, and beer sales fell 11.2 percent on lower volume in the third quarter.
MENTIONED IN THIS ARTICLE
U.S
London
Tokyo
Europe
Zurich
Hong Kong
Commodities Exchange
New York
Handy & Harman
Comex
Xerox
Nabisco Brands
Amencan Standard
United Brands
Quaker Oats
Pabst Brewing Co
Slump Forces Auto Plant Closings
Detroit AP report notes U S automakers cut weekly production by 8.38 percent and planned to temporarily close 10 assembly plants amid ongoing sales slump. Ward's Automotive Reports says domestic factories will produce 120,557 cars this week versus 131,493 last week and 22 percent less than the 1980 week, with 35,271 trucks planned, down 9.6 percent from last week and 15.5 percent from 1980.
MENTIONED IN THIS ARTICLE
Detroit
U.S
Ward
Ward's
NiMo doubles earnings in latest quarter
Niagara Mohawk Power Corp reports third quarter earnings nearly doubled to 48.5 million dollars or 48 cents a share from 26 million or 25 cents a share a year earlier. For the 12 months ended Sept 30 earnings rose to 206.3 million dollars or 2.26 a share from 152.8 million or 1.78.
MENTIONED IN THIS ARTICLE
Niagara Mohawk Power Corp
Agway Chief urges new U S energy policy at annual meeting
Agway Inc President William A. Hiller used the 17th annual meeting to press Congress for a national policy ensuring farmers access to fuel in emergencies. He cited soaring costs and high interest rates as earnings fell to $20.6 million on $3.8 billion in 1980-81 consolidated sales. He urged passage of the Petroleum Disruption Management Act.
MENTIONED IN THIS ARTICLE
Joseph A. Porcello
United States
William A. Hiller
Agway Inc
Hiller
U.S
Agway
Onondaga County War Memorial
George Steele
Pocop
Son, Pa
and Hiller
Congress
Council of Farmer Cooperatives
Hitler
H. P. Hood Inc
Boston
Hood
Agri- Mark, Inc
New England
New York
Your Money’s Worth Housing Costs Rise Amid Slump
The third year of the nation’s deep housing stamp begins with a worst decline in home sales since the Great Depression. Yet signals hint buyers may curb steep prices and mortgage rates. Readouts from the National Realtors, Home Builders, Mutual Savings Banks and Mortgage Bankers associations show monthly costs for new houses now average 1,124 in 15 cities, up 81 percent since 1978, with payments up 94 percent and other costs up 52 percent.
MENTIONED IN THIS ARTICLE
Naional Association of Realtors
National Association of Home Builders
National Association of Mutual Savings Banks
Mortgage Bankers Association of America
Buyers win housing war signals of caution in costs
The piece argues housing demand is weakening with new starts down about one third and existing sales off around 44 percent from 1978-79 peaks. It notes prices drift down, real prices down, and advocates delaying purchases to save on mortgage payments. It uses a hypothetical $60,000 loan at high rates to illustrate potential yearly and total savings from waiting. It urges restraint despite low inflation-adjusted prices and high nominal rates.
MENTIONED IN THIS ARTICLE
Detroit
Also Mentioned on This Page
Business Digest
Continential
Illinois
Goldman, Sachs
J Aron
NiMo
Edward A. Tognoni
Robert T. Dormerter
Carmella Spordo
MDA
Hugh E. Cummings
Curtice-Burns
Edward Gelsthorpe
H.P. Hood Co
Purchase Seabrook Farms
Ronald N. Goddard
War Memorial
Goddard
Two Guys
Northern Lights
By Sylvia Porter
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