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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 27, 1985
Page
5
Prices rose in a technical rally after recent declines as the Dow Jones industrial average rebounded 3.86 to 1,263.58 in early trading. Gainers led decliners 5-4 among NYSE issues while traders noted steadying sentiment despite disappointing earnings from blue-chip firms and slight rate rises in bond and money markets ahead of a new note and bond sale.
Ohio eggs offered to retailers show price ranges with carton deliveries in Columbus and major cities. Extra large 63 to 68 cents, large 60 to 67, medium 50 to 60, breaking stock 39 cents. Midwest Egg Producers Cooperative quotes Class 1 at 49, Class 2 at 44, Class 3 at 36, Class 4 at 32.
Lorain County Farm Bureau Cooperative Association Inc published closing market bids with Wheat at 3.35 per bushel Shelied Comm 2.79 per bushel Oats 2.20 per bushel and Soybeans 5.85 per bushel.
Union officials accuse Copperweld Steel Co of violating its contract by sourcing unfinished steel that could be produced by union workers. The firm says saving costs from high plant electricity justifies buying elsewhere. Edward Arnaudin, VP steel for Copperweld, says purchases could last two to three months.
Dawn Daily Record publisher Hoover Adams says he will not drop his lawsuit seeking CBS Inc. shareholder list. He questions restrictions on the list and doubts timing of delivery to Fairness in Media for a proxy fight, but expects one may occur.
The indictment accuses General Electric of mischarging $800,000 in overruns on Minuteman reentry system refurbishments by moving costs to other government contracts and falsifying time cards. The four-year probe followed a Defense Contract Audit Agency review and cites 112 counts including false claims and false statements. GE denies wrongdoing and says it will cooperate to resolve the matter.
Gary Yug, a former steelworker, has reopened the Elyria storefront at 113 East Ave as Elyria Seafood. He purchased the closed business from Lee Farris and is learning to run a fish shop while sourcing saltwater fish, shrimp, lobster tails, freshwater fish, and Lake Erie perch. Local customers welcome the return of the store.
ESM Government Securities Inc. filed for Chapter 7 bankruptcy in West Palm Beach, listing $320 million owed to about 24 creditors including Home State Savings Bank of Cincinnati. Receiver Thomas Tew says only about 10 percent of assets are accounted for with at least $2 million seized for creditors.
A San Jose Mercury News survey of 1,509 people and follow-up interviews with more than 50 women workers in Santa Clara County reveals 23.6 percent have faced discrimination, while many women note strong advancement potential in a fast-changing tech milieu. Kathie Priebe of Intel says the region’s mindset may aid quicker acceptance, though many still toil in low-paid clerical or assembly roles amid a male-dominated business culture.
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