Consumers shy of new credit as recession bites
Federal Reserve data show outstanding consumer installment credit dropped a record 3.46 billion in June, the third straight monthly decline. Analysts say high unemployment and dim income outlook keep shoppers cautious. auto loans lead the pullback while car production remains weak. University of Michigan economists forecast a gradual 1981 recovery, aided by a possible 30 billion tax cut.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
David Ernst
Evans Economics
Washington
Kevin Hurley
Chase Econometrics
Philadelphia
Auto layoffs peak? U.S. autowork layoffs ease slightly
UPI reports open-ended layoffs at 248,550 this week, down from 249,050 last week as auto production falls. Ford Lorain plant to stay closed another week for inventory, while overall U.S. car output and July truck sales show sizable declines from a year ago amid industry shakeout.
MENTIONED IN THIS ARTICLE
Detroit
UPI
U.S
Ford Motor Co
Lorain
Ward’s Automotive Reports
Ward
Three Mile Island costs exceed half billion dollars
Costs from the Three Mile Island nuclear accident rose above 500 million with projections to reach 1.5 billion or more. GPU officials said cleanup and power replacement expenses would escalate as the facility nears restoration, with 1.5 million customers in Pennsylvania and New Jersey affected.
MENTIONED IN THIS ARTICLE
Harrisburg
Three Mile Island
GPU
Unit No 2
Lion
Bulding
Market advances as Dow hits new high on NYSE
The New York market led gains as the Dow Jones Industrial Average rose 6.23 to 957.17 in early trading amid a broad buying tilt following Thursday’s advance. Advancers outpaced decliners 62 to 2 among NYSE issues while grain prices and farm board figures echoed the day’s bullish tone.
MENTIONED IN THIS ARTICLE
New York
Gulf Oil
Damon
United Technologies
Daw
Mar- Jones
Ket
UPI
St Ineo Ltd
AMA
Kennett
Laken Binet
Mattel
McLooth Steel
Bendix
MGM
Natéesca
Colgate
Ediecn
PagAm Air
Ford Motor
Gen Foods
Seocker
Gen Motors
Goodyear
Goodrich
Ohjo
Grace
Texaco
Teveco
Trans
Union
Oh Ea
Ali Tft
Wee Fe
Woolworth
Coca Cola Co
Celina Fin Co
Pierre R. Callum
American Machine & Foundry
Armerican
Fruetael
Indasines Coh Iy
Lear Seegier
Are Marathon Oi
Moore
Gypetm
Parker Wy
Searie
Southern Co
Oleic Exdesen Unive Pacsise Corp
Hd Woolworth
Walker Hcosho
Canadian Mutuals
Rash Mutual
Fidelity
Puritan
MIT
Foreign investment study questions U S disclosure and security
A congressional House subcommittee report on foreign investment in the United States cites brands like Baskin Robbins and Har dee s and names foreign owners to illustrate the difficulty of buying American. It accuses the Carter administration of possible hidden investments by OPEC and notes official denials while suggesting grouped disclosures. The report estimates 1979 foreign assets at about 350 billion with conservative money invested around 50 billion.
MENTIONED IN THIS ARTICLE
Washington
UPI
Baskin Robbins
Allied Brewers Ltd
United Kingdom
Hardee’s
Imasco Ltd
Canada
Korvettes Department Store
Agache-Willart Group
France
United States
House
Government Operations Subcommittee On
Consumer Affairs
Carter Administration
Organization of Petroleum Exporting
Treasury
Saudi Arabia
Kuwait
Bergsten
OPEC
Commerce Department
Also Mentioned on This Page
Chronicle-Telegram
Ehjia, O
Automotive Reports
University of Michigan
Ford
Generalators Corp
Ieclin
Chrysler 4 Car Motors Corp
Firlon Piaetins
Matto. O
Motor Vehicle Manufacturers Association
Valerie Fitzhugh
York
Borg-Warner Corp
Madisonville, Ky
3 Mile Island
Ken McKee
Robert C. Arnold
the Chronicle Telegram
New York Stock Exchange
Lsted
Lorain County Farm Bureau Cooperative Association, Inc
Ofblyhes
McGill University
Montreal
Columbus
Ohlo Cuke
Oto
USDA
Midwest
Walker
Cleveland St
Star Building Systems
Business Builder
Star Builders
ING
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!