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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 22, 1988
Page
3
AP notes that easing gasoline and fuel oil prices offset drought driven food price increases amid June CPI expectations. Economists warn that cereal and grain products may rise later as drought won’t affect existing contracts. Labor data show unemployment at 5.8 percent with modest inflation so far this year.
Between 1971 and 1986 Western Europe, the United States and Japan combined produced the most cars. Western Europe alone accounted for over a third of all cars in 1986. Asia and Oceania produced the fewest automobiles during the period.
Kidron consignments Thursday topped 3 200 head with heavier demand across market hogs and improved prices over last week. Feeder pigs traded 14 to 34 dollars per head, calves and cattle showed mixed gains, hay and straw markets stayed brisk with first cut hay $140 to $175 per ton and good second cut around $200 per ton.
Wall Street traders blitzed Polaroid after Shamrock Holdings offered 2.3 billion to acquire the Cambridge photographer. Polaroid said it would study the bid, while analysts project a hefty patent payout from Kodak. Polaroid’s defenses include an employee stock plan, “tin parachutes,” Delaware and Massachusetts protections, and staggered board terms. Polaroid closed down 4 percent. earnings eased to 36 cents a share on 483 million in sales.
General Electric and Snecma won a $350 million contract to supply 68 CFM56-5-A1 engines for Air Canada’s 34 Airbus A320 aircraft. The deal, part of a larger $1.5 billion package including spare parts, underscores the A320’s rapid sales pace and features a derivative engine with a history of reliability.
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