UAW GM clash over jobs at Flint parts plants
The United Auto Workers and General Motors wage a fresh battle on job levels for 6,800 workers at Delco Electronics and AC Rochester Flint East as a 10 am Tuesday strike deadline looms. A strike could halt GM output across North America within 72 hours. The union seeks new jobs rather than severance, insisting on limits GM can cut, while GM cites higher labor costs versus independent suppliers.
MENTIONED IN THIS ARTICLE
Detroit
Knight Ridder
UAW
General Motors
Flint
Midh
Delco Electronics
Rochester
Flint East
Rates rise on Treasuries in Monday auctions
In Washington the Treasury sold 12.2 billion in three month bills at 3.28 percent and 12.3 billion in six month bills at 3.43 percent, with implied yields of 3.36 and 3.54 percent respectively. In Detroit Chrysler recalled 110000 sedans from late July to early December models to fix faulty wiring that could short the steering area, potentially cutting lights or stopping the engine.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Detroit
Chrysler Corp
Chrysler
Pamela Gross
Viacom Wins Paramount Takeover Battle With Cash Stock Offer
Viacom announced it won its five month battle for Paramount Communications Inc. Tendered Paramount shares reached about 91.7 million, roughly 74.6 percent, exceeding the 60.1 percent needed to gain control. The deal valued Paramount at nearly $10 billion and pitted Sumner Redstone against Barry Diller in a high profile takeover contest involving QVC and Paramount assets.
MENTIONED IN THIS ARTICLE
New York
Viacom
Paramount Communications Inc
Viacom Inc
MTV
Showtime
Paramount
Simon
Toy Fair teen wizard with Midas touch idolized
New York AP reports Mary Rodas, age 18, vice president of Catco Inc., attends Toy Fair as an adult for the first time. The high-profile teen, called the girl with the golden gut, rose from child tester to industry icon, influencing product design, stocks, and future plans at Balzac, FAO Schwarz, and Catco. She plans NYU study in film and expansion of Balzac stores, while industry leaders discuss inventory and trade terms elsewhere at the expo.
MENTIONED IN THIS ARTICLE
New York
Mary Rodas
Mary
Catco Inc
Catco
Don Spector
Balzac
FAO Schwarz
Fifth Avenue
Disney, Hershey
Toys-R Us
Manhattan
West New York
N.J
New York University
Professional Children’s School
Macaulay Culkin
Banc One calls off a merger in Nebraska
Banc One Corporation and FirsTier Financial Inc. ended plans for a merger after Banc One’s stock fell. The proposed deal would have created Nebraska’s largest bank merger, with Havelock Bank and other assets valued around 712 million dollars. Banc One declined to raise the exchange ratio to 60 per share, citing shareholder protection.
MENTIONED IN THIS ARTICLE
Columbus
Banc One Corporation
Nebraska Bank
FirsTier Financial Inc
Omaha
Neb
Banc One
Nebraska Capital Corporation
Havelock Bank
Lincoln
FirsTier
Havelock
John B. McCoy
Nebraska
David A. Bismiller
Frank Anderson
Stephens Inc
Little Rock
Ark
Market prices close with various metal and commodity values
New York AP reports closing prices for metals and nonferrous commodities. Gold at 383.90 per ounce, silver 5443 per ounce, platinum 397.70 per ounce, palladium 134.60 per ounce, copper 8480 cents per pound, zinc 48-52 cents, lead 34 cents, aluminum 57 cents per pound, tin na, mercury 175 per 70 pound flask. Soybeans at 857 per bushel, other figures listed.
MENTIONED IN THIS ARTICLE
New York
Roy Ounes
Comex
Creston Livestock Auction Returns Mixed Bids Across Cattle and Hogs
Creston auction lists consignments including 402 cattle with Choice steers at 69 to 375 dollars, Holsteins 55 to 66, Choice heifers 67 to 72.50, Good bulls 57 to 61.25, feeder cattle 66 to 91, and numerous hog and sheep lots. Hay and straw sales report first cutting 65 to 77.50 per bale, second cutting 102.50 to 115, hay per bale 1.60, round bales 20 to 25, with other farm goods selling at varied prices.
MENTIONED IN THIS ARTICLE
Creston Aucton
Also Mentioned on This Page
North America
Schuster Books
Madison Square Garden
New York Knicks
Ment
QVC
Sumner Redstone
Paramount Pictures
Barry Diller
Rangers
Paramount’s
Paramount Fictures
Diller
Redstone
Toy Fair
Teen Wizard
Toy Center
Tyco
Toy Company
Nafta and
Gatt
Jordan Par
Playskool
Kids of Color
7Ne
Banc
Vet Ve Nyse
Hanson
Bos Ste BecOnee
Seare
Xerox
Mutuals
Pil County
Whst Mutual
Pee Emplston
Templeton-World
Vanguard
Wellington
Pierre R. Smith Co
Acme Cleve
Allied Corporation
Alliel
American Greetings
Cedar Fair
Centerior
CoBancorp Inc
Columbia Gas
GPC Inter. Inc
Eaton Corp
Emerson
Englehard First Bancom
Geon
Goodach
Guest Supply
Hills Dept
Invacare
LNB Banco
Creston Livestock
Ohio Motorists’ Insurance Agency
Conrad
Barbara Irish
CPIW
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