UAW eyes renewed talks with GM AMC and Ford this week
UAW leaders say attitude on concessions has shifted and may reopen negotiations with American Motors and General Motors, after previously offering Ford up to 1 billion in return for job security. AMC talks center on benefits and security for workers in a 150 million product plan financing. Fraser cautions GM concessions will mirror terms of the Ford deal.
MENTIONED IN THIS ARTICLE
Detroit
UPI
United Auto Workers
Ford Motor Co
American Motors
Milwaukee
UAW
General Motors Council
Dearborn
Douglas Fraser
AMC
Ray Majerus
American Motors Council
Fraser
Flint
GM Council
Jim Osborne
Flint Fisher
Osborne
Thrift industry burns through 32 million daily losses
The thrift sector faces $32 million daily losses as high interest rates batter savings and loans. mergers threaten nearly one a day, with forecasts of more than 900 closures or consolidations if rates stay high. Calls for a $10 billion federal aid plan grow louder as net worth shrinks and the housing market strains.
MENTIONED IN THIS ARTICLE
New York
UPI
Washington
U.S. League of Savings Associations
National Association of Mutual Savings Banks
Congress
Opening stocks rally as rates fall and banks cut prime
The New York market rose as interest rates dropped with banks lowering prime rates from 16 to 16 percent. The Dow gained 9.52 to 816.88 as investors eyed the Fed showing a money supply drop, while energy shares advanced on Saudi cutbacks. Construction in Elyria Lorain also slowed in January with total value down from prior months.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Fed
Saudi Arabia
Schlumberger
Halliburton
Mobil
Western Co
North America
LukenStr
Mattel
E McNeil
MobilCorp
Monsan
Nabluco
Area manufacturing activity shows third month of contraction
The Federal Reserve Bank of Cleveland indexes for January indicate orders shipments and backlogs remained weak though less widespread and somewhat improved from December lows. Inventories marked the first substantial contraction since late 1980, signaling slow but notable movement.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of Cleveland
Rototiller recall affects 200000 units from Sears and Roper
Roper Corp. and Sears Roebuck Co recall 200000 rototillers sold 1963 to 1980 under Sears and Roper names due to a clutch-lock device that can lock in reverse, causing safety hazards and seven serious injuries. Owners should stop using tillers and request a free parts replacement kit by calling 800-435-5117. kit removes clutch lock.
MENTIONED IN THIS ARTICLE
Roper Corp
Sears, Roebuck and Co
Sears
Roper
Rototillers
U S lag behind Japan in robot use and output
Mid-American Outlook reports Japan uses and manufactures far more robots than the United States. Japanese firms produce about 32,000 robots by 1985, roughly four times U S output, while about 150 Japanese robot firms hold 45 percent of the market. U S spend on robots rose to 170 million from 130 million in 1980, with about 20 U S companies in the field.
MENTIONED IN THIS ARTICLE
United States
Japan
Mid-American Outlook
AmeriTrust Corp
U.S
Chicago
Michael Edgerton
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Roy G. Green
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Jonathan Gray
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Plastic Molded Products Co
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Smucker Southern Co
Sybron
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Am - Ye Hershf
Allis Chala
Tcindus
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Mat Air Inco Ltd
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Lorain Business College
Miracle-Ear I
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John B. Simpson
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Lorain
CLEVE
Elyria
Spitzer Park Plaza
Broad St
Elyria Savings & Trust National Bank
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