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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 28, 1983
Page
12
New York openings show mixed stocks with airlines, mining and chemicals higher while autos, computers and drugs retreat. Dow slipped to 1272.76 after 30 minutes as gains edge ahead over three weeks of advance amid mixed economic signals and high rates.
Union leaders forecast heavy rejection of Greyhound’s latest contract offer as pickets march nationwide on day 25 of the stoppage. Local union chiefs in St. Louis Los Angeles and Louisville report near unanimous sentiment against the deal, while Cesar Chavez joins the line to back boycotts. Greyhound operates a limited schedule with non union staff across 27 states.
Merchants report strong start to the holiday season with Friday sales among the best in years and expectations for a 15 to 20 percent rise through Christmas. Big sellers included telephones, home computers, lingerie, sweaters, Cabbage Patch Kids, and Care Bears. Calvin Klein threatens a hostile bid for Puritan Fashions unless a deal is reached, proposing $16.50 a share for the remaining stock and stating the bid is $1 below the initial offer. Puritan directors have not yet commented.
Foreign manufacturers rush into the United States with deregulated telephone equipment. Commerce and Census data show nine month deliveries leaped 586 percent to 25.7 million units from 3.7 million versus a year earlier, signaling a surge in imports.
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