Word: dow
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Dates: during 1970-1979
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...International Association of Machinists and Aerospace Workers walked out July 15. In Lordstown, Ohio, production of Chevrolet Vegas was halted when a United Auto Workers' unit struck, and in Midland, Mich., a United Steelworkers' unit reached a tentative settlement of an 18-week work stoppage against Dow Chemical...
...help is in sight to break the trend. Stock prices last week sank to a 1974 low of 791 on the Dow Jones industrial average and closed at 792. Those brokerages that have invested heavily in bonds have been grievously hurt by soaring interest rates, since bond prices go down as interest rates rise; and last week rates went higher still. Several major banks lifted their prime rate to 12%, a figure unimaginable until this year...
...executives testified that technologically such perfect purification is impossible. At the other hearings, held by the House Select Subcommittee on Labor, representatives of the National Association of Manufacturers and the U.S. Chamber of Commerce voiced more general gripes. Speaking for the N.A.M., for instance, Michael Stinton, safety manager of Dow Corning Corp., contended that lowering factory noise levels from 90 decibels to 85, one proposal OSHA has studied, could cost U.S. industry a ruinous $31 billion...
Those rates are still oppressively high, and it is anyone's guess how much farther they might come down and how soon. But the cuts had a tonic effect on businessmen and investors, who have been starved for any kind of good news. On the stock market, the Dow Jones industrial average bounded up 19 points on Monday, 15 on Wednesday, and by the close of trading Friday had leaped 52 points for the week...
...borrow at the bank prime but the long-term money raised by selling new issues of bonds or stock. But as towering interest rates make bond issues costly, they also depress the stock market by luring money away into such high-yielding investments as bank certificates of deposit. The Dow Jones industrial average last week fell below 800 for the first time in five months and closed at 802.17, down 24% from its January 1973 peak...