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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 14, 1981
Page
3
The air traffic controllers strike costs U S airlines millions in lost revenue but analysts say it may push carriers to trim costs, reduce staff and optimize fuel use. Eliot Fried Jr of Shearson Loeb Rhoades notes early effects show a short term negative for travel. The strike, which began August 3, comes amid weak traffic and fierce competition.
FAA limits to 75 percent of prestrike flights through September and may extend into spring analysts say curtailments allow carriers to cut staff and gain leverage with unions Braniff furloughs 2000 workers and others weigh similar cuts industry figures warn profit losses persist while some carriers report solid load factors American Airlines sees 70 percent loads but about 2 million dollars daily in lost revenue Republic Airlines saves fuel 200 000 daily by fewer flights as stock payments slash costs critics call the strike hurtful to the industry and question the benefits
UPI reports early August rebates and incentives lifted U.S. auto sales 28.8 percent from a year earlier, though industry layoffs exceed 150,000. GM boosts indefinite layoffs to 73,000. overall sales pace climbs to 7.4 million annual rate, with mixed results across makers and models.
The dollar firmed after a three day slide, opening higher against European currencies. In Zurich it traded at 2.18 francs, Paris above 6 francs, Milan at 1257.50 lire, Brussels up 25 francs to 45.15, and the pound at 1.7925 dollars. Gold gained about five dollars in London to 410.00 per ounce.
A fragmented note indicates the Lorain County Farm Bureau forming a county grain association under the county agricultural group. The entry names local farmers and reflects early 20th century rural organization.
Kidron consignors offered 2164 head across 435 consignors with heavy feeder pig runs exceeding 900 as prices held firm. Top hogs reached 53.75 while beef cattle showed strength with Holstein cows to 48.75 and varied calf values.
Trading on the New York Stock Exchange showed little reaction to favorable inflation news as the Dow slipped fractions to 944.25 in the morning. The day featured a mixed session with gainers slightly outnumbering decliners and traders awaiting the Federal Reserve weekly report on money supply.
Metal prices in New York yesterday show copper at 889247 cents per pound, lead 42 cents, zinc 464 cents, tin 73887 per pound, aluminum 7680 cents, with gold at 40788 dollars per troy ounce and silver at 8850 dollars per troy ounce, Handy & Harman daily quotes. Mercury 440 dollars per ounce and platinum 421 dollars per troy ounce are also listed.
Grains Northeast Ohio report lists No 2 wheat at 345, No 2 shelled corn 281, No 7 oats 195, No 2 soybeans 168. Northwest entries include No 2 wheat 444, No 2 shelled corn 278, No 2 oats 203, No 1 soybeans 672. Central Ohio shows No 2 wheat 349, No 2 shelled corn 28, No 2 oats 220, No 1 soybeans 462. No aiends were availabie.
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