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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 29, 1981
Page
5
John F. Johnson of Lamalie Associates says demand for executives is down as the economy slows. He notes recruiters increasingly reach top managers with offers that require costly moves and significant lifestyle changes, leading many to reject appealing but impractical positions.
Johnson, a corporate vice president at an executive search firm, notes rising resistance to relocation due to a tight housing market. He says unsold homes in major metros slow moves, delaying fills while demand grows for engineering, R D, EDP, and MIS executives with salary bands of $60,000 to $100,000 and higher. Demand shifts reflect corporate focus on efficiency amid uncertain economy.
The investment market reeled Tuesday as Mobil offered 82 billion dollars for 51 percent of Conoco, challenging Du Pont and Seagram. Analysts favored Du Pont, but antitrust questions delay closing, while Seagram could shape the outcome with a 92 dollar per share offer for up to 51 percent.
Market steadies after Tuesday's drop as several NYSE issues rise slightly. Government data show June readings of economic indicators down 13 percent, following a revised 15 percent drop the prior month, signaling a cautious economy.
Local grain prices show Wheat at 3.54 per bushel, shelled corn 3.05, oats 2.25, soybeans 7.13. Regional quotes include Northeast Ohio No 2 Wheat 3.55, No 2 shelled corn 3.09, No 2 cars 2.00, No 1 soybeans 7.17. Northwest Ohio No 2 Wheat 3.58, No 2 shelled corn 3.10, No 2 oats 2.03, No 1 soybeans 7.26. Central Ohio No 2 Wheat 3.55, No 2 shelled corn 3.15, No 2 oats 2.18, No 2 soybeans 7.20. Trend shows No 2 wheat higher, No 2 shelled corn unchanged, No 2 oats unchanged, No 1 soybeans sharply higher.
Spot nonferrous metal prices listed in New York show copper at 3.85 to 3.86 dollars, lead at 0.42 per pound, zinc at 0.464 to 0.465 per pound delivered, tin at 7.3295 to 7.3295 per pound, and aluminum between 0.76 and 0.80 per pound. Gold stands at 401.50 per troy ounce, silver at 8.355 per troy ounce, mercury at 4.30, and platinum at 410 per troy ounce.
AP dispatch from Chicago notes wholesale egg buying prices mostly steady. Class 1 large at 50 cents, Class 2 large 48, mediums 45, smalls 35. Fresh cartons delivered to 10 Ohio retailers show varied quotes with large eggs around 77 to 86 cents and midrange 67 to 76 cents.
United Auto Workers Local 425 president Michael Pohorence says Econoline production keeps workers on a 40 hour week with potential overtime in September while the passenger car line faces downtime next month due to weak demand for Thunderbirds and Mercurys. He notes vans sell on fleet orders and cites limited North American production sites.
The Baldwin Wallace College division of business announces a two year Saturday MBA program starting September 12. Classes will meet at the Berea campus and Centre One in Eastlake for east-siders. The program targets traveling professionals and aims to develop generalists rather than specialists.
Wickes Lumber Co distributes for Trus Joist and adds Elyria, Copley, and Rootstown outlets. The Boise based maker of lightweight roof and floor systems says Ohio addition expands its national distributor network to more than 450.
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