Allied to sell Bendix Automation to Cross & Trecker
Allied Corp plans to sell its Cleveland Bendix Automation Group to Cross & Trecker of Michigan. The deal could create the nation s largest machine tool company, with Bendix employing about 2,600 people in Cleveland Akron Dayton and other states. Allied expects a $188 million 1983 net income hit. Bendix had a pretax loss of $63 million last year. Cross & Trecker would pay $65 million plus 1 million warrants at about $28.31 for five years. It s unclear if Bendix operations stay in Cleveland.
MENTIONED IN THIS ARTICLE
Cleveland
Allied Corp
Bendix Automation Group
Cross & Trecker Corp
Michigan
Allied
Bendix Automation
Michael Ascolese
Morristown
Cross & Trecker
Warner & Swasey
Akron
Dayton
Richard Priebe
Bloomfield Hills
Mich
Bendix Group
GM earnings set to top record for largest automaker
AP reports 1983 GM profits may reach around 3.7 billion, surpassing 1978 peak and signaling a booming year for U.S. car industry profits. Analysts note recovery in sales, reduced break-even point, and lucrative mix of big cars, with Ford, Chrysler, and AMC poised to post strong results as year wraps.
MENTIONED IN THIS ARTICLE
Edward Miller
Detroit
General Motors Corp
U.S
David Healy
Drexel Burnham Lambert Inc
New York
Healy
Roger B. Smith
National Press Club
Washington
Ford Motor Co
Chrysler Corp
American Motors Corp
Ford
Chrysler
AMC
Gary Glaser
Sanford C. Berstein & Co. Inc
Glaser
Mediator cites strong arm tactics in labor talks
Phoenix AP report says some firms use power-based pressure to win concessions, likened to the 1930s. FMCS chief Kay McMurray stresses bargaining remains active while Owen Bieber of the UAW cites plant closings and decertification as proof of a new anti union trend. Bieber argues unions face unprecedented attacks as management leverages layoffs to demand givebacks.
MENTIONED IN THIS ARTICLE
Phoenix
Kay McMurray
Federal Mediation and Conciliation Service
McMurray
Owen Bieber
United Auto Workers
Federal Aviation Administration
Reagan
Bieber
Slump Costs Shareholders 133 Billion in a Month
The stock market lost 133 billion dollars in the past month as analysts link the drop to uncertain rate outlook. A Federal Reserve report to Congress warns deficits may push rates higher. The Dow tumbled 22.72 points to 1174.31, its lowest close since August 9, 1983, marking the largest one-day decline in months.
MENTIONED IN THIS ARTICLE
Associated Press
Federal Reserve Board
Congress
Creston Auction Totals 378 Livestock Sold at Creston Market
Creston Auction reported 378 head sold from 1 033 total livestock, with two goats listed. Hay, straw and firewood were on offer, plus a range of cattle including calves, steers, cows and Holsteins. Prices varied across cuts and loads, with mixed consignments noted throughout.
MENTIONED IN THIS ARTICLE
Creston
Mt Monten
Also Mentioned on This Page
Bendix
United States
Charles Pollock
National Machine Tool Builders’ Association
Columbus
Ohio
Cincinnati
Chicago
Midwest
N.Y
Handy & Harmon
NYSE
Johnda
MerLys
Mobil
Monsan
At&t
Nwstaur
Aurich
Petrin
BestP's
Pfizer
BethSdl
Boeing
PhilMr
Coleco
Shellor
Ob Digital
Disney
duPont
Sperry
EsKod
Exxon
Telex
Temple
Va Texaco
Hut&Fs
Wendys
Pierre R. Smith Co
Alltel Fl Corporation
Cleveland Ec. NI
CPC Inter Inc
Acme Cleve
AmerShip
Emerson
Excello Shy
American Standard Fruebaus Ale Gondrich Sr J.C. Industries
Lear Siegler
Midland Rosa Adh National Gypsum
Lordson Te Ohto Edison
Parker Hannifin
Smucker
I? Or
Echison
Wentworth
Fw) Mutuals
Amer-Wash
Dreyfus
Fidelity-Puritan
JhoHnek-Bond
Massfin-Mit
Smnal
Vanguard-lyest
Vangrd-Wellgin
County Grain
Lorain County Farm Bureau Cooperative Associaion, Inc
Focal Gram
Andrea Radio AW
IRS
Elyria Montmartre Plaza
Broad Street
Creston Livestock
Cove
Wzio
Ken
Sefion
Cay Porson Ff
Middle Securities Cary
National City Bank
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