SEC expands insider trading probe linked to Seagram bid
The SEC broadened its inquiry to include Texaco Amax Kimberly Clark Santa Fe Union Pacific Ranger Oil St Joe Mesa Franklin Mint Solid Photography and Seagram shares seeking trading records to spot patterns around Seagram's St Joe takeover bid. Key figures Robert Spira Haas Securities Eugene Laff wife and Yves Henth face subpoenas as investigators pursue profits from St Joe options and shares after the March bid.
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Ford EXP LN7 signals shift to aerodynamics and downsizing
Ford design chief Donald Kopka explains that downsizing led to bland econoboxs, while EXP LN7 aims to combine small powertrains with aerodynamic, characterful styling. Ford created a 1.6-liter engine and front wheel drive for the Escort Lynx to allow a two seat sports car without a billion-dollar engine program.
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Ford Motor Co
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Congress studies budget revisions during July recess
Congressional staffers dissect a $38 billion House budget package passed amid GOP support and Democratic objections. The plan trims 1982 spending, includes Reagan edits, and faces a House Senate conference to resolve discrepancies before an August recess.
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Trader Heath defends rumor betting in St Joe stock run
Robert Heath 34, a high volume trader, says he bought $500000 in stocks daily on rumors and denies insider knowledge. He admits trading many names, questions why he held St Joe overnight, and faces SEC requests for records while likely taking the Fifth Amendment.
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Heatic
Newmont
Phelps Dodge
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Opening stocks edge higher on rate signals in New York
The Dow rose .95 to 993.82 in early trading as gainers outnumbered decliners 7 to 6 on the NYSE. Fed data showed the money supply growing slower than expected, implying possible less restrictive credit and lower interest rates, while gold and silver prices fell on the Commodity Exchange. Corner details include Archer Daniels Midland up at 18, Rockwell International up at 3742, and U S Industries unchanged at 114s.
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Grain price snapshot across Ohio markets
Columbus reports the latest cash grain prices from Ohio elevators after Friday close through today. Northeast area lists No 2 wheat 317, No 2 shelled corn 295, No 7 oats 205, No 1 soybeans 56. Northwest shows No 2 wheat 33.21, No 2 shelled corn 3, No 2 oats 2.35, No 1 soybeans 667. Central reports No 2 wheat 214, No 2 shelled corn 303, No 2 oats 2.38, No 1 soybeans 661. Trend notes No 2 wheat steady, No 2 shelled corn lower, No 2 oats lower, No 1 soybeans sharply lower.
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Ohio
Northeast Ohio
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