Grass not greener in Canada but dollar is worth more
Americans are cashing in across the border as the Canadian economy sags. With the loonie around 80 cents to the dollar and inflation near 12 percent, unemployment at 11.4 percent, bankruptcies rising, and a fragile banking system, Canadians are moodily watching the Great Depression era echoes. Americans profit from the exchange while Canada faces deep economic strains.
MENTIONED IN THIS ARTICLE
Canada
Linda Brenners
America
United States
U.S
Gold slides as dollar soars amid money supply fears
Gold prices fell across London Zurich and New York as the dollar surged on expectations of higher U.S. money supply figures. London opened at 434.75, Hong Kong close 440.35, and New York Handy & Harman quoted 444 per ounce. Silver traded 8.69 in London with New York at 8.88. Meanwhile Citicorp reportedly hid foreign deals to skirt regulations, and major automakers announced 332 Buffalo-area layoffs.
MENTIONED IN THIS ARTICLE
London
Zurich
Hong Kong
New York
Handy & Harman
U.S
Tokyo
Europe
Key Banks to Buy Binghamton Unit of Bankers Trust
Key Banks Inc plans to purchase the Binghamton region of Bankers Trust New York Corp's Albany subsidiary. The nine-office Binghamton unit has deposits of 35 million dollars and the deal, contingent on regulatory approval and a final agreement, aims for completion in early 1983. Key Banks oversees 2.5 billion dollars in assets across seven subsidiaries including Syracuse.
MENTIONED IN THIS ARTICLE
Key Banks Inc
Binghamton
Bankers Trust New York Corp
Albany
Bankers Trust
Upstate
Syracuse
Key Banks
Bankers Trust Co
Western New York
Bankers Trust Upstate
Coors backs rival brewery move into Colorado
William Coors openly encouraged Anheuser-Busch to establish a Colorado plant and even offered to help build it. Gov. Lamm and Coors representatives stressed cooperation over competition as Anheuser-Busch eyed sites in Pueblo Fort Collins and beyond, with a final decision expected in 1983.
MENTIONED IN THIS ARTICLE
John J. Sanko Golden
Colo
UPI
Adolph Coors Co
Anheuser- Busch
William Coors
Rocky Mountain
Anheuser-Busch
David
Goliath
Hertz
Avis
Gene Tunney
Jack Dempsey
Coors
Sue O’brien
Richard Lamm
Bill Coors
Colorado
Lamm
Pueblo
O’brien
Fort Collins
Golden
Joseph T. Finnigan
Bill
Eric Riggle
Coors Co
Riggle
Chrysler-UAW talks near deadline in Michigan
Chrysler Corp and the United Auto Workers face a midnight deadline with economics and health care as the main sticking points. UAW President Fraser said time is tight and expressed optimism for a deal, while Chrysler offered a cautious proposal linking any raise to savings elsewhere. Fraser noted health care as a major issue to be answered by the union.
MENTIONED IN THIS ARTICLE
Highland Park, Mich
Chrysler Corp
United Auto Workers Union
Tion
UAW
Douglas A. Fraser
U.S
Chrysler
Fraser
Congress weighs cut to long term capital gains holding period
The piece warns of a potential 50 percent reduction in the holding period for long term capital gains from over one year to over six months, a move feared to primarily benefit the wealthy. It notes a 20 percent top tax rate on gains and that 60 percent of profit is untaxed, with losses syncing to the same holding period. Ed Warach calls the possible change a blessing in disguise for investors.
MENTIONED IN THIS ARTICLE
Congress
Senate
Ed Warach
Prentice-Hall
Capital gains tax twist and wash sale guidance
Tax debate over holding period changes in a debt ceiling bill, potential six month rule, and how losses affect offsets. Explains wash sale rules, options to realize losses, waiting 31 days, or swapping to a similar stock, then rebuying later to preserve the loss. Advises considering timing and alternatives to lock in tax benefits without sacrificing long term outlook.
MENTIONED IN THIS ARTICLE
Iver
Also Mentioned on This Page
Citicorp
Latin America
Asia
Bahamas
Monaco
SEC
Federal Reserve
Fed
Ford
Ford Motor Co
General Motors Corp
Buffalo-area
J. Arthur Rath
Bath Organization
Administrative Management Society
LeMoyne Manor
Dynatel
David M. Montanaro
American Dynatel Corp
Butternut Street
E. Molloy Ra
Windsor
Detroit
Robert Richardson
Windsor Chamber of Commerce
Ed Hornby
Chicago
Blair Hoffman
Downtown
Ontario
Richardson Sai
States
Chcago Tribune
Starstes Canada
Joseph A. Porcello
Hills Etc Store
S Hills Plaza
Widewaters Plaza
Erie Boulevard
DeWitt
Hills Plaza
Hills Department Store
Camillus
Cicero
By Sylvia Porter
A .Oss
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