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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 28, 1982
Page
3
The Old Farmer's Almanac 1983 edition forecasts a cold winter for the East and a milder one for the West. Weatherwise credits their blend of science and a secret formula, but cautions volcanic activity from Mexico’s Chichon event could affect accuracy.
The United States faces a record pace of business failures, with an average of 473 companies closing or seeking reorganization weekly this year, the fastest since 1932. Small family firms predominate, but larger companies see rising insolvencies. oil, finance, and manufacturing sectors show strain amid inflation shifts and regulatory changes.
Representatives of the United Auto Workers and Chrysler met over a tentative agreement reached 11 days earlier. The talks focused on absenteeism and insurance programs while ratification votes were postponed amid concerns over benefits and past concessions. UAW officials blamed logistical issues for the delay and some locals warned the pact may be rejected by members.
Republic Steel Corp. denies reports it may file for bankruptcy saying rumors are unfounded. E B Jones says there is no truth about the company’s financial condition, as 13,000 workers remain laid off and 4,000 more are on short weeks.
VW of America announces the departure of James W. McLernon after a top management shift aimed at boosting marketing and sales amid weak demand. Noel Phillipe will take over November 1 as acting chief executive. price cuts and diesel Rabbit sales trends factor into the broader downturn.
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