Rates fall may spark housing rebound driving economy
Falling borrowing costs point to a broad rates slide with economists predicting a housing surge. Chase Manhattan cut its prime rate to 11 percent, the lowest since August 1980, while the Dow fell 11.68 points amid mixed market signals. Mortgage rates are seen dropping, boosting new construction, with F W Dodge noting a 16 percent November jump to the strongest level in 19 months and lenders reporting improved S&L mortgage activity despite deposit losses.
MENTIONED IN THIS ARTICLE
Chase Manhattan Bank
Chase
Wall Street
F.W. Dodge
Christie
Conference Board
New York
Savings and Loan Associations
S&ls
Ford plans shake up of workers in product development
Ford Motor Co plans a major reorganization to cut levels and downgrade positions in product development. The Detroit News cites Ford sources noting attrition would drive staff cuts over four years, with top executives unaffected and board approval expected in mid January. Reorganization could begin in mid February affecting middle managers in car engineering, body and assembly, powertrain, chassis, truck operations, and electrical and climate control divisions.
MENTIONED IN THIS ARTICLE
Detroit
Ford Motor Co
Detroit News
Ford
Opening stocks mixed after decline in year end trading
The Dow rose 2.76 to 1061.63 in the first half hour as declines slightly outpaced advances on the NYSE. Analysts noted year end tax maneuvers and light trading as investors lingered near 1982 losses, with blue chips U.S. Steel DuPont and Eastman Kodak given varied moves.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
U.S. Steel
DuPont
Eastman Kodak
NYSE
Mattel to unveil Hanna-Barbera children’s video games
Cincinnati AP reports Mattel plans to reveal new children’s video games featuring Hanna-Barbera characters for dealers in Las Vegas next month with shipments possibly starting in May. Taft Broadcasting will license characters like The Flintstones Yogi Bear and Scooby Doo for Intellivision games, excluding The Smurfs.
MENTIONED IN THIS ARTICLE
Cincinnati
Mattel Inc
Las Vegas
Taft and
Mattel
Hanna-Barbera
Dutch computer salvager taps metals from obsolete machines
Jan Meijers pounds through more than 50 discarded computers to extract precious metals and rare elements. After quitting his job to move to the Netherlands he built a business as a computer metal recycler. He aims to profit as tech ages create waste and disposal challenges.
MENTIONED IN THIS ARTICLE
Rumpt
Netherlands
Jan Meijers
Meijers
Holland
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Robert Burns
George A. Christie
McGraw-Hill Informa
Tion Systems Co
Reagan
American Stock Exchange
Lorain County Farm Bureau Cooperative Association
Tnc
Pioneer Federal
Treasury
FSLIC
U.S
Freedom Federal Savings & Loan
Columbus
Ohio
Third Street
N. Abbe Road
Lorain
Pfizer
Sybron Phil
Texas Atilites
Oesock
PhilPet
Toledo
Basan
Polarid
Union Pacific Corp
Amrcp
Woolworth
Aliepw
AlldCp
RalsPur
Alcoa
Reich
Repsil
AmCan
Rockwi
Sfelnd
Acyan
Scottp
AEIP
Sears
AmMot
Armco
Bendix
Texaco
Borden
Westge
intHary
JoyMig
Kmart
KarstAl
Kopers
LOF Kroger
evyManvl
Meadra
MMM Tem
Mobil
Mencrath
Nabscb
NatCan
NatiStl
Tech Norse OceiPet
Owen
Owentll
Poe
Uth
Mutuals
Amer-Wash
Dreyfus
Fidelity-Puritan
JhnHackVarty
Massfin-Mit
Vanguard Ivest
Vanguard Well
Taft (Broadcasting Inc
Donald Stapleton
Stapleton
Taft
M-Network
Atari
Atari Inc
Warner Communications
Netherlands Association of Computer Users
PAN
Pew
Elyria
Wats Une
Cleve
Philadelphia Stock Exchange
Sipc Bivest Building
Etyna
Sidney
Gelman
Ridge Td
Kitho
Wohody
Service Oper
Meatlake ‘Center
Gen Daly
Staka Area
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