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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 27, 1983
Page
4
Engineer Bill Wiedefeld trains a General Electric robot with a feach box to lift and move a car as the 132 pound lifting robot shows its strength at the International Machine Tool Show in Chicago.
Bethlehem Steel Corp reports a 1982 fourth quarter deficit of 1.15 billion and a 1.47 billion annual loss. The company flags ongoing losses through early 1983 with little chance of improvement until 1984. Trautlein cites weak demand and industry downturn as causes.
The Dow rose 4.14 to 1,042.13 in the first half hour as gainers edged losers on the NYSE 4 to 3. Fed Chair Paul Volcker warned against rapid monetary growth to fund government borrowing, while Citi banker Leif Olsen predicted a recovery in the current quarter. Early movers included UAL up 0.25 at 33.25 and Johnson & Johnson rising to 47.56, with Eastern Gas and Fuel down 0.22.
Treasury Secretary Regan said the nation has turned the corner toward recovery during a Boston visit. Bethlehem Steel reported a 1982 fourth quarter loss of 1.15 billion dollars, the largest quarterly US corporate loss on record, with full year 1982 losses of 1.47 billion. Imports rose to a record market share while oil firms posted steep profit declines amid the oil glut and recession.
Japan plans to strengthen the Trade Ombudsman to address non tariff barriers amid complaints of complex rules, testing, and distribution practices that favor domestic products. Officials say measures will clarify misunderstandings ahead of Nakasone's Washington visit. Perrier now available uncooked but often paired with Suntory products in Japan.
In Columbus Ohio eggs sold to retailers across major cities with Large A White cartons mainly at 71 to 80 cents and 74 to 73 cents in typical bids. Medium eggs ranged 66 to 75 cents while 8 to 68 cent figures appeared in reports.
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