1980 Auto Sales Fall Hit GM and Industry Hard
1980 saw General Motors sales drop 16 percent with the auto industry facing its worst year since 1961. Ford raised sticker prices about 1 percent while Chrysler held prices, with GM forecasting improvement in 1981 aided by new small cars and tighter pricing. Volkswagen posted higher U.S. sales, and GM’s Buick led the brand gains for the company despite overall weak demand.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors
U.S
Ford Motor CO
E Chrysler Corp
Volkswagen
Buick
Chrysler fate hinges on interest rates and union concessions
Washington UPI reports UAW President Douglas Fraser warned Chrysler Corp may go out of business within a year if interest rates stay high. Negotiations in Highland Park seek concessions to unlock 400 million in loan guarantees, with banks and suppliers urged to offer relief as part of the 1.5 billion rescue plan.
MENTIONED IN THIS ARTICLE
Washington
UPI
United Auto Workers
Douglas Fraser
Chrysler Corp
Chrysler
Highland Park
Mich
Fraser
Treasury
G. William Miller
Miller
UAW
Housing costs cut by easing regs in pilot program
A HUD pilot study shows local regulations add to new home prices. In Pittsburgh suburbs test homes sold about 24 percent cheaper after modernizing rules such as PVC pipe use. Average living area about 1000 square feet with costs falling from 55 000 60 000 to 42 000. Demonstrations in Shreveport and Hayward used street width reductions, factory construction, less earth moved, and fewer storm basins to save time and money.
MENTIONED IN THIS ARTICLE
White House
Pittsburgh
Sapiiog Sale
TE Seer BS
HUD program cuts costs on low cost townhouses
In Hayward 53 townhouses on a single inner city site show per unit savings of 26500 to 32500 dollars, cutting costs by about 33 percent versus similar homes with stricter rules. A Clark County Oregon project faced Mount St Helens ash delays but progress continues. Faster processing emerges as a key finding with HUD noting delays cost consumers.
MENTIONED IN THIS ARTICLE
Hayward
Clark County
Portland, Ore
Mount St. Helens
HUD
Dollar rallies as gold slips to 590 in London
Dollar strengthens worldwide amid easing U.S. rate slide as Iran hostage news boosts sentiment. Gold dives $11.50 to opening $590 per ounce in London with further declines in Paris Zurich and Milan. Tokyo closes at 201.25 yen per dollar, a two year low, while other currencies drift lower.
MENTIONED IN THIS ARTICLE
London
U.S
Iran
Tokyo
Zauch
Milan
Area business news in brief from December survey
SENE na mes affiliated with the Purchasing Association of Cleve mead shows a rare bright spot in December surveys. Copper, lead, nickel, and tin prices fell while boric acid caustic soda and small diameter pipe stayed tight. NACSCORP Inc reports gross sales of 347600, up 23 percent from the prior high and 71 percent above December 1979 as CEO Garis Distelhorst notes.
MENTIONED IN THIS ARTICLE
SENE
Purchasing Association of Clevemead
Garis Distelhorst
IDS Growth Fund Posts Record Asset Gain and Payout
IDS Growth Fund of the Investors Group of Companies reports a 62.3 percent rise in assets and a $1.15 per share payout at fiscal year end July 31. The eight year old fund lists 34,297 shareholders and a local representative in the notes.
MENTIONED IN THIS ARTICLE
IDS Growth Fund
The
Investors Group of Companies
Metual Fued
Opening stocks sell note pushes market down in NY
The Dow Jones avg fell 17.92 to 986.77 in the first half hour as sell orders overwhelmed buy interest after a noted investment adviser urged subscribers to dump holdings and sell short. Granville, based in Florida, warned of a top and could not be reached for comment. Prices for grains were listed as Wheat 4.63, corn 3.35, oats 2.13, soybeans 7.81 per bushel.
MENTIONED IN THIS ARTICLE
New York
Joseph Granville
Holly Hill
Fla
Granville
Wall Street
St. Maarten Enforces Valid Identification for Visitors
New York UPI reports St. Maarten now requires visitors to show valid identification such as a passport birth certificate voter registration card or naturalization papers for entry. The Netherlands Antilles immigration service says credit cards and driver's licenses may be accepted for some forms of verification.
MENTIONED IN THIS ARTICLE
New York
UPI
St. Maarten
Peng Te Weet
Aya Velista Caribbean
Netherlands Antilles Immigration Service
Alfa Romeo Plans U S Car Sales Push
Alfa Romeo plans to sell 15,000 to 20,000 cars in the United States as part of a new market push. The move signals a bet on expanding its presence amid evolving American demand for premium small cars.
MENTIONED IN THIS ARTICLE
United
Also Mentioned on This Page
James V. Higgins
Robert D. Burger
Trafic
Ford
Robert MacKay
Chrysler Corporation
Reagan
Congress
Eecet
Ike
Ith
William Miller
Meaigs
Chrysler Loan Guarantee Board
Gene Austin
Knight-Ridder Newspapers
Shreveport
Calif
Robert Penick, Wiiter
Paris
Area Business News
Oberlin
Nacscorp, Inc
National Association of College
Dow
TIN Ann Metalsook Aluminum
Nyabu
Lorain County Farm Bureau Cooperative Association, Inc
EaKodak
Eaton
AtCaa
DePont
Kennett
Eastern Air Tae
McLosth Sd Ih
McNeil
R. South
Americas Machine
American Ship Building
Uh Beodix Ae Caramalioy
CPC International, Inc
Ah Freehauf Bs
LC Inisines
Midland-Romer National Gypsum
Nh ‘Gale Edson
Am Searle
Gd) Co
Southern Ci
Woolworth
Findon Pe
Conpias
Alfa-Romeo
Mowat Plata
Paige
Prerre R. Smith & CO
Fairabuappra
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