GM reports first annual loss since 1921
General Motors posted a 1980 deficit of 763 million dollars the worst in its history and the first annual loss in nearly six decades. The company earned 62 million in Q4 1980 down 85 percent from 426 million in Q4 1975, with hopes of a gradual 1981 recovery and continued turnover. Worldwide sales fell to 57.7 billion dollars, down 13 percent from 1979.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors Corp
General Motors
Roger B. Smith
Automakers Face 1980 Losses Amid Industry Slowdown
Robert Penick reports 1979 auto sales show a 21 percent drop in unit volume to 7.101 million cars and trucks. Q4 dollar sales rise to 16.2 billion while factory output falls. Projections place Chrysler and Ford 1980 deficits at 1.7 and 1.5 billion respectively as GM pursues a 40 billion dollar investment plan to stay competitive. January production down across majors with GM and Chrysler posting steep declines and Jeep profits squeezed by dealer margins.
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Insium
Tjyyo
Uue Ine Ose
Bercy
U.S
Chrysler Corp
Ford
Chrysler
Chrysler workers approve pay cut in UAW ratification
Chrysler workers vote 26 942 to 18 859 to approve a scaled down contract with a 46 a week wage cut and a wage freeze through September 1982. The deal supports 622 million in concessions and federal loan guarantees efforts while suppliers and bankers agree to price cuts and debt restructuring.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
Chrysler
United Auto Workers Union
UAW
Marc Stepp
Chrysler Department
Stepp
Corporate leader Bradshaw on society and profits at ARCO and RCA
Thornton Bradshaw, 63, ARCO president and named successor to RCA chairman, argues corporations owe society as well as shareholders. He discusses the Aspen Institute program on justice and democracy, ARCO’s social experiments, energy policy credibility, and decontrol of crude oil prices shaping U.S. energy strategy.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
Thornton Bradshaw
Atlantic Richfield Co
Edgar H. Griffiths
RCA Corp
Bradshaw
ARCO
David Vogel
University of California, Berkeley
RCA
Aspen Institute of Humanistic Studies
Aspen
Aristotle
Martin Luther King
Pennsylvania
Carter
U.S
Alaska
Revco and Zale Seek Out-of-Court Antitrust Settlement
Revco DS Inc and Zale Corp negotiate with the U S Justice Department to settle an antitrust suit over Revco plans to acquire Zale’s Skillern Drug Division. The federal action, filed in Dallas, contends the deal would boost market concentration in Dallas Fort Worth Paso and Tyler Texas. both sides defer trial while agreeing to two days notice before any sale.
MENTIONED IN THIS ARTICLE
Twinsburg
UPI
Revco DS. Inc
Zale Corp
Justice Department
Zale
Skillern Drug Division
Revco
William French Smith
Dallas
Gary Kastel
Dallas-Fort Worth
Paso
Tyler
Texas
Skillern
Origi
Opening stocks ease as Dow slips after Reagan cues
New York stocks opened lower with the Dow down 2.46 points to 929.77 as declines outnumbered advances 363 to 270 among 942 NYSE issues. Turnover was about 2.1 million shares while investors awaited Reagan's plan details on deficits, spending cuts, and tax policy amid Fed opposition.
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New York
UPI
New York Stock Exchange
Reagan
Wall Street
NYSE
Federal Reserve Forces
Fed
Paul Volcker
Jack Kemp
R-N.y
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Roger Smith
James V. Higgins
Business News
Robert Penick
Smith
AMC
Jeep
Washington
the Corporation
Congress
U. S. Justice Dept
Skillero
Stocks
Bell Howell
IBM Corp
Ally Purr
Bendix Cp
Allied Chm
Ades Beth Steel
T&t
Als Chim
Ty Boein
Kellogg
Ty Alcoa
Borg Warcer
Mets Amax
Alte Cdn Pac
Am Aurhnes Dy Ty Calanes
Am Brand
Chrysler Cp
Ry Luken Steel
Manty AmCan
Mobil Corp
Coca Cola
Monsanto
Elec Pwr
AmCyanarmd
Norte
Peuto
Eastern Air
Phillips Pet
Chanelle Hugh
East Kodak
Polaroid
Eaton
Evans P
Exxon
Tig
HCA Corp
Boeing
Carpenter Paper
Gen Motors
Ty Roper Cp
A&p
Greyhound
Gulf Oil
Sikes Corp
Hanna Man
Anitia
Hersh Foods
Tennec
EC Indust
Texaco
Allied Chere Regular Inco Ltd
Am Fitzona
Ing Rand
Annes Biro
Bizn
Cameros Ina
Cine Bell Um
Uniroyl
Callen Cos
Zinc Woolworth
Portland Air
Xerox
Gilbert Assoc
Bausermaan
Hedman
Halmendi
Handy & Ifam
ENO
Pierre R. Smith Co
Kysor Indeestrt
Harman
Silacme
American Machine & Mart Coorell
Handy & Harman Fonty Daly
Webber U
Parker Hannifin BK Searle
Amer.-Wash
Southern Co
Fidelity Puritan
Edo Exitson
John Hancock
Union Pacific Corp
Woolworth
F.W
MIT US
Vanguard Ivest Vangaard
Lorain and
Cleveland
Wid
Ohio Securities Corp
Sears
the Chronicle-Telegram
Chronicle-Telegram
Elyom
Cleve
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