GM Posts $468 Million Loss In Third Quarter
GM reported a 468 million dollar third quarter loss, the second worst quarterly result in its history, blamed on high interest rates and rising labor costs. Chairman Smith and McDonald cited weak demand, model changeover costs, and ongoing cost pressures as key factors. Worldwide sales reached 13.41 billion for Q3 1981, with nine month earnings at 236.9 million, and a forecasted year profit questioned until rates ease.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors
Wall Street
Bower
BR Gpith
James McDonald
Smith
McDonald
Pathe
Dolek
Eee
Good Management Key to Small Business Survival
New York based Bank of America notes planning, not just thinking ahead, as crucial for small firms facing inflation, high rates, and weak sales. The report cites 11,000 firms failed in 1980 with 4.64 billion in liabilities, and 350,000 to 500,000 others discontinued operations. It warns poor planning, undercapitalization, and lack of delegation as top failure causes, urging formal plans and strong leadership to endure.
MENTIONED IN THIS ARTICLE
New York
UPI
Bank of America
Dun & Bradstreet
Opening stocks dip on inflation and recession fears
The Dow Jones shed 6.76 to 841.51 in early trading as losers outpaced gainers about 3 to 2 on the NYSE. The government said the consumer price index rose 1.2 percent last month, with factory orders for durable goods down 2.9 percent in September and General Motors reporting a $468 million Q3 loss. Sony fell 16 Merrill Lynch rose 34 Exxon slipped 30 in early quotes.
MENTIONED IN THIS ARTICLE
New York
Commerce Department
General Motors
Sony
Merrill Lynch
Exxon
Kidron Auction Reports Heavy Hog Consignments This Week
Kidron livestock auction continued heavy again with hogs especially so as 910 head were consigned. Market hogs ranged lower than last week but stayed fairly steady with a large volume. Feeder pigs showed strength, back-to-farm Holstein calves commanded up to $87.50, beef cattle declined due to large seasonal numbers. hay and ear corn prices noted for 497 loads and first cutting hay.
MENTIONED IN THIS ARTICLE
Kidron
Bae Ae
Sohio to shut unit at Toledo refinery to trim demand
Sohio Ohio will temporarily close a section of its Toledo refinery to match lower gasoline demand. The move, expected to affect under 25 Local 7346 workers, aims for efficiency as seasonal demand declines. Reactivation depends on demand reversal. the unit processes about 40,000 of the refinery's 125,000 bpd.
MENTIONED IN THIS ARTICLE
Cleveland
UPI
Standard Oil Co
Ohio
Toledo
John L. Locker
Sohio
Oil, Chemical and
Atomic Workers International Union
Complaints May Prove Profitable for Businesses
A UPI report summarizes a Technical Assistance Research Programs Inc study showing that few unhappy customers gripe, so they switch brands, while those who complain successfully stay loyal and spread word of mouth. Polaroid cited as example with toll free 800 number and support services to convert complaints into profits.
MENTIONED IN THIS ARTICLE
Washington
UPI
Technical Assistance Research Programs Inc
White House
Coca-Cola Co
Polaroid Corp
Also Mentioned on This Page
Iage
United States
Dan Morris
American Video
Midway Mall
Great Northern
C-T
Gene Krebs
ContiGr
Det Edis
DaPort
Iotit&t
Eastern Air
EaKodak
Eaton
Govdyr
Nublaco
Pan Am Air
Pennpl
PepsiCo
PhilPet
Searal
Smwekr
Tennen
Texaco
Tawi HK Ual
I Pierre R. Smith Co Ree
Mse Amerhip
Bendix Ath
CPT Inter. Inc
Ak Excel
Kidron Livestock
Pater Seit En
Dave Baler Haks
Dea
Becvice
Tee
Pa Ara
Sears
Diadacich
Canter Ridge Rd
Lawson's
Elect Pomeroy
Medack
Trois
Chronicle-Telegram
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