Upturn Begins for Auto Industry Yet Future Unclear
DETROIT UP I The nearly finished Volkswagen of America plant in Sterling Heights stands as a symbol of both optimism and resignation in a hard times auto industry. Mayor Jerry Mann says the plant will open, but the delay in production start-up may push into 1986. May sales improve for 1982 models due to cut-rate financing and extended warranties. About 30,000 workers have been recalled from indefinite layoffs as the industry awaits stronger demand.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Volkswagen of America
Sterling Heights
Auto industry teeters as recovery hopes hinge on policy aid
Third in a weekly series, automakers lift hiring freezes while analysts warn a long climb remains. Prescott Ball & Turben predict another sales dip and a crash in the used car market due to discounting. Production lags 25 percent and over 220,000 workers stay laid off as UAW leaders seek federal help and content laws.
MENTIONED IN THIS ARTICLE
Prescott, Ball & Turben
Cleveland
Ford Motor Co
Fraser
Chase Econometrics
UAW
Ford
Philip Caldwell
Caldwell
Stocks Open Higher as Haig Exit Shifts Market Focus
The Dow nudged up to 803.17 at the open as NYSE volume hovered near 2.15 million shares. Investors eyed Haig’s resignation and Schultz’s appointment while a $2.2 billion drop in money supply eased pressure on Fed tightening, with funds rates around 15 percent and a Treasury note sale of $17 billion upcoming.
MENTIONED IN THIS ARTICLE
NEW York
UPI
New York Stock Exchange
NYSE
Alexander Haig
Federal Reserve
Treasury
Notable Career Moves Highlight Elyria Professionals
Jeffrey J. Kearns of Elyria named manager of Major Medical at Blue Cross of Northeast Ohio overseeing review and processing of major medical and catastrophic claims in L1county. He holds an MBA from Baldwin Wallace College and joined Blue Cross in 1979. William H. Ficken promoted to vice president at Stanadyne Moon Division. Dr Joann M. Lovequist joins Family Dental Care Associates at Midway Mall. she is a Case Western Reserve University School of Dentistry graduate. Judy A. DeVoe and Beverly McGinnis finish second year at the Ohio School of Banking, among 145 bankers statewide. Steve Nelson, Nelson Insurance Agency owner, elected trustee of Independent Insurance Agents of Lorain County.
MENTIONED IN THIS ARTICLE
Blue Cross
Northeast Ohio
Jeffrey J. Kearns
Elyria
Major Medical
Kearns
Baldwin Wallace College
Joann M. Lovequist
Lakewood
Family Dental Care Associates, Inc
Midway Mall
Western Reserve University School of Dentistry
Judy A. Devoe
Elyria- Carlisle
Oberlin Savings Bank
Beverly McGinnis
Ohio School of Banking
Ohio Bankers Association
OBA
Oho University
Athens
Grain price report from Columbus Ohio markets
UPI reports cash grain prices paid to farmers by elevators in principal marketing areas after Friday markets close. Northeast Ohio shows No 9 wheat 3.19, No 2 corn 2.54, No 2 oats 2.03, No 1 soybeans 6.15. Northwest Ohio No 2 corn 2.52, No 2 oats 2.13, No 1 soybeans 6.15. Central Ohio No 2 wheat 2.22, No 2 corn 2.60, No 2 oats 2.22, No 1 soybeans 6.15. Trend: No 2 wheat higher, No 2 corn lower, No 2 oats unchanged, No 1 soybeans higher.
MENTIONED IN THIS ARTICLE
Columbus
UPI
Baio
Northeast Ohio
Northwest Ohio
Central
Oil glut forces OPEC to borrow as revenues fall
OPEC members face shrinking oil income and mounting deficits. Venezuela Nigeria and Indonesia are queuing at international banks while Gulf producers Saudi Arabia Kuwait Qatar and UAE expect surpluses to shrink. Analysts warn broad deficits loom for most members as demand remains weak and prices stabilise.
MENTIONED IN THIS ARTICLE
Riyahd
Saudi Arabia
Organization of Petroleum Exporting Countries
OPEC
Venezuela
Nigeria
Indonesia
Persian Gulf
Kuwait
Qatar
United Arab Emirates
Citibank
New York
Also Mentioned on This Page
Ly Micheline Maynard
UPL Auto Writer
Jerry Mann
United Auto Workers
Douglas Fraser
General Motors
Yee
Roger Smith
Smith
Chrysler Corp
Lee Iacocca
George Schultz
William H. Ficken
Stanadyne
Moon
Ficken
Westlake
Standadyne
Elyrian
Steve Nelson
Nelson Insurance Agency
Independent Insurance Agents
Lorain County
Athdc
GTE
Sears
Gdrich da Sperry
Aurlines
Great Aa&p
Hind
Am Motors
Gulfoul
Tennco
Amt&t
Texaco
Armco
Timken
Ibmcp
BethStl
Boeing
Cdn Pac
Kellogg
Umroyt Inc
Celanese AB
Ye Kroger
Chrysler Cp
MobilCorp 2A
Upjohn
CocaCol
Monsanto Sbm
Union
Consul
Motrola Boy
Weathk
Nabisco
DetEdis
NdlGyp
Nail Steel
Xerox Co
Eastern Air
Searle
Gd)co
Smucker
Southern Co
Bron
Texas Utilities
Taleda Edison
Woolworth
Union Pacific Carp
Abdul Rahman Al-Zamil
Vahan Zanoyan
Middle East
Wharton Econometric Forecasting Associates
Washington
Anthony M. Solomon
Federal Reserve Bank of New York
New York Fed
Solomon
Chicago Tribune
Bank of England
Forthofer
Mite
Mid Otto
Mid-Ohio Securities Corp
Soeiton
Sprizer Park Plaza
Bevard
Exyria
Stewart
Stewart’s
Aes
Wa St
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