Chrysler cuts 1800 jobs as plant closures bite Detroit
Struggling Chrysler Corp with losses expected over $1 billion this year ordered a seventh plant closure and scaling down at Mack Stamping Plant. Foundry at Huber Avenue in Detroit will close, 1,283 workers and 450 hourly plus 75 salaried at the stamping plant idled, while 1,300 workers at Mack remain in manufacturing. Government aid may be insufficient without sales rebound. plans include Dodge Aries and Plymouth Reliant vehicles this fall.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
Chrysler
Mack Stamping
Michigan
Ohio
Mack
U.S
Computer delivered papers tested by publishers across nation
Newspaper executives gather in Columbus for a 22 day trial of delivering sections by computer. The project links CompuServe and AP to Columbus Dispatch readers while AT&T faces pushback from ANPA over potential rights and competition changes.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
CompuServe Incorporated
H&r Block
Katharine Graham
American Newspaper Publishers Association
Washington Post
Congress
American Telephone and Telegraph Co
At&t
Knight-Ridder
ANPA
Graham
Columbus Dispatch
CompuServe
Associated Press
Dispatch
Los Angeles Times
New York Times
Chicago Sun-Times
St. Louis Post-Dispatch
Minneapolis Star and Tribune
Atlanta Journal and Constitution
Norfolk Virginian-Pilot and
Ledger-Star
San Francisco Chronicle
The
Middlesex News
Framingham
Mass
Prime rate lowered to 11 percent by Morgan Guaranty
Morgan Guaranty Trust Co the nation’s fifth largest bank reduced the prime lending rate for the most creditworthy customers to 11 percent from 11 percent. UPI reports the move aimed to ease borrowing costs for businesses and individuals while signaling a shift in monetary policy stance.
MENTIONED IN THIS ARTICLE
Morgan Guaranty Trust Co
Heat hits Ohio poultry profits and egg values
Heat cripples output across Ohio poultry farms. Broiler growers report losses up to 6000 dollars in a week and 5 to 20 percent hatchability drops. Egg production falls 1 to 3 percent with hens drinking more and eating less. Egg prices rise from 56.77 to 69.74 per case, while small lots gain to 82.5 cents per dozen.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Ohio Market News Service
Ken Jones
Ekleberry Poultry Co
Bucyrus
Ed Brown
Lancaster Poultry Co
Lancaster
Brown
Frederick Graves
Clear Creek Food, Inc
Amanda
Graves
Charles
Margaret Brinkman
Goodrich earnings fall sharply in second quarter
Akron based B F Goodrich Co reports second quarter net income of 10 million dollars or 57 cents per share, down from 24.6 million or 1.46 per share a year ago as sales ease only modestly. Tire shipments rose 10 percent but overall demand remained weak.
MENTIONED IN THIS ARTICLE
Akron (Ap
B.F. Goodrich Co
Goodrich
John D. Ong
Ong
Toledo Leads Ohio Cities in Wages Paid
Federal labor statistics show Toledo surpassing five Ohio metros in wages across five job groups. The study, including Cleveland Columbus Dayton Toledo Akron Canton with Detroit and others, notes wage gains from 8.9 to 11 percent year over year, led by computer related positions and clerical roles, with weekly salaries for clerks and secretaries detailed.
MENTIONED IN THIS ARTICLE
Toledo
Ohio Cities
Chicago
Ohio
Labor Department
Cleveland
Akron
Detroit
Columbus
Dayton
Canton
Saginaw
Mich
South Bend
Ind
Lucas
Fulton
Ottawa
Wood Counties
Monroe County
William E. Rice
Prices rise as inflation fight stays goal in Carter era
New York prices edge higher with the Dow at 931.91 in early trading as Carter administration officials reiterate inflation control as a top objective. Treasury Secretary Miller urges delaying tax cuts, while early movers include Gillette slipping and Engelhard Minerals rising on higher earnings. grain bids close with wheat 3.92, corn 2.90, oats 1.70, soybeans 6.94 per bushel.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Treasury
G. William Miller
Congress
Gilette
Engelhard Minerals
Lorain County Bureau Cooperative Association, Inc
Market roundup of metal prices and Ohio grain bids
New York metal prices show copper at 1.00 per unit and gold at 941.50 per ounce while zinc and lead sit around mid thirties. Columbus grain bids report No 2 wheat near 3.85 to 3.91 and No 2 corn around 2.92 with soybeans near 6.96 to 16.97 shifting as markets close. Trend notes lower wheat, sharply lower corn, unchanged oats, soybeans down sharply.
MENTIONED IN THIS ARTICLE
New York
Columbus
UPI
Ohio
Northwest
Also Mentioned on This Page
James V. Higgins
UPS
Huber Avenue
Okspact
Detroit Free Press
Detroit News
Free Press
Teamsters Union Local 372
York
USDA
Mary Emons
Bob McBee
Weight Loss Medical Center
Cooper Foster Park Rd
Amherst
Don Paul Volcker
Senate Banking Committee
NYSE
Intel
Thave
Bennett
Kroger
Alcoa
MeLouth
Chrysler Op
Sud Oil Ind
Eaton Sith
Exxon Bram
Texaco
Fursine
Walpool
White Motor
Pierre Rt
Arencan Macupe & Foundry
Fering Rue Bovend
Amernettt
IPM Technol
CPC International
Loc
Chemile Inc
Emerson
Freekantie
LG Industries
jatiGas
Lear Siegier
Searle
Soother Co iv
Pacific
EstaUtil Assoc Ag
Equitable Gas
Ste
County Grain
Jorgan
Mesa Petrol
Paine Webber
Putnam
Subest Capital Bes
Utd Technol
Mutuals Arper-Wash Mutual
Fidelity — Puritania Investors
National
Vanguard
West
Wellington
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