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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 29, 1984
Page
4
The most active stocks on the New York Stock Exchange had not been received from the Associated Press by press time leaving traders awaiting figures.
The greeting card business, long tied to business and sentiment, rose to a $7 billion annual market. Hallmark dominates about 40 percent of card sales as the industry adapts to social change, with high tech cards and more diverse messages expanding reach amid fierce top-tier competition.
Merrill Lynch analyst Robert Farrell doubts a durable market stampede is underway as excess cash remains limited and short-term advances falter. He cites quick bullish shifts, brief rallies, and possible lows tests with a final quarter election year upturn to a new high. Insight reports social firm investing could yield large returns, while Eastern Airlines may need further consolidation before rising, per Margo's Market Monitor.
The tentative GM UAW agreement ends an 11 day Canadian strike but does not trigger immediate recall of more than 6,800 Ohio workers laid off. Layoffs spread across Dayton Moraine Elyria Hamilton Parma Euclid Vandalia with hundreds more idle at Delco and Inland divisions. Job shifts at Moraine and Lordstown aim to restore capacity. next year adds 1,060 Moraine roles and a second shift at Dayton.
UAW officials predicted about 36,000 U.S. workers would end the strike by accepting GM's proposed contract with roughly 40,000 idled. Canadian workers, who walked out Oct. 17, may return by Tuesday if plants vote yes. The tentative pact boosts Canadian workers with about 13,000 extra over three years and includes yearly cost of living adjustments but largely excludes lump-sum bonuses.
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