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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 05, 1985
Page
2
Stocks rose as rates fell in credit markets. The Dow Jones average gained 392 points to 1330.31 in early trading while NYSE issues showed more gainers than losers. Unemployment held at 7.3 percent in June. Business payroll growth was slower than expected, fueling a credit rally and higher long term government bond prices.
NBC plans stereo broadcasts for the All-Star baseball game with extra mics on left and right field lines to capture cheers and the beer man. RCA pushes Americans toward higher priced stereo ready sets while NBC sports director notes left and right channel use can distract viewers.
The piece argues the middle class persists despite factory job losses as service sectors grow, with 2.3 million factory jobs shed since 1979 and 600,000 new manufacturing roles created in six years. It notes wage differences, safety nets, and calls for a healthier federal budget to boost competitiveness.
M A Hanna Co seeks to avoid layoffs at its Cleveland headquarters by offering 43 employees age 55 or older generous early retirement packages including full pensions in some cases. If all accept, no further layoffs. if not, remaining staff reductions follow as the company restructures, with 181 Cleveland employees and a smaller global workforce.
The Reagan administration seeks a Treasury Bureau rule requiring wine labels to state sulfite preservatives such as sulfur dioxide. The move targets up to a million Americans, many asthmatics, at risk of severe reactions. Industry spokesmen argue wine sulfites are less harmful than in food.
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