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MIDLAND. Conceived as a cooperative venture that would supply Michigan's Consumers Power Co. with electricity and a neighboring Dow Chemical plant with steam, the two-unit, 1,300-MW project on Michigan's Tittabawassee River was launched in 1969. It then carried a $267 million price tag. The problem-plagued development is currently nine years behind schedule and egregiously over budget. Company officials say that construction, now 85% complete, has al ready cost $3.4 billion...
Throughout the week, Reagan's fabled luck held. Wall Street, always easily spooked by phantoms, went into a sudden swoon just before the State of the Union speech; traders bid the Dow Jones industrial average down almost eleven points on a rumor that the President had decided not to run. That only underscored Reagan's popularity among investors. Soviet President Yuri Andropov, of all people, gave Reagan an indirect boost by issuing a generally conciliatory statement hinting at possible resumption of Washington-Moscow nuclear-arms-control negotiations. By Sunday night Reagan was ready for a party. He summoned 400 campaign...
Still another tactic involves creating new shares, thereby diluting the voting power of current stock. When those new shares are distributed to shareholders of record, the effect is to strengthen their control greatly. Directors of Dow Jones & Co., publisher of the Wall Street Journal, approved such a plan two weeks ago. While the company faces no immediate takeover threat, the new stock virtually guarantees that the heirs of Clarence W Barron, who bought the company in 1902, will continue to control...
...much so quickly. They have a gambler's nerve, a fortuneteller's foresight and a prospector's nose for gold. They have prospered first by starting or investing in small, unknown companies, and then capitalizing on the 17-month-old bull market that has sent the Dow Jones industrial average to one new high after another...
...looking at higher interest rates and started looking at corporate earnings." Trading on Thursday reached 159.99 million shares, well above the old mark of 149.35 million set two days after the 1982 congressional elections. Mounting a serious challenge to the previous high of 1287.20, hit last Nov. 29, the Dow Jones industrial average climbed 28 points for the week and closed...