Dayton Daily News from Dayton, Ohio on January 25, 1984 · 15
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Dayton Daily News from Dayton, Ohio · 15

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Dayton, Ohio
Issue Date:
Wednesday, January 25, 1984
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15
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business DAYTON DAILY NEWS Wednesday, Jan. 25. 1984 Page 20 1 Business m Digest : Nation's automakers doing e : much better than last year DETROIT The nation's automakers are enjoying their best start in flvt years as mid-January car sales climbed 24.3 percent from a year ago. Ford Motor Co. said Tuesday its sales were up 40.2 percent in the middle of January compared with the same period a year ago. Chrysler Corp. said its sales increased 29.6 percent and General Motors Corp. reported an 18.5 percent gain. The No. 4 VS. automaker, American Motors Corp., reported its sales Increased 2.4 percent and Volkswagen of America said sales were up 0.8 percent Counting sales by American Honda Motor Co. Inc., which wasn't yet producing cars in America at this time last year, the rise was 24.3 percent. Armco reports $672 million net loss MIDDLETOWN Armco Inc. has reported a 1983 net loss of $672.5 million, or $10.27 per common share compared with a loss of $345.1 million a year earlier. The loss included special charges of $296.7 million from the shutdown of its Houston steel mill, the company said. v. For the fourth quarter, Armco had a net loss of $46.8 million, . or 73 cents per comon share, on revenues of about $1.07 billion. Harry Holiday, chairman and chief executive officer, said the fourth-quarter loss was attributable to losses in Armco's financial services business, "principally from addition to reserves for Armco's reinsurance companies." Armco also had net income of $31.4 million in the fourth quarter from the sale of tax benefits. In 1982's fourth quarter, Armco had a net loss of $182.8 million on revenues of about $1.11 billion. Revenues for 1983 were about $4.16 billion, compared with 1982 revenues of about $5.43 billion. Mead reports a profitable 1983 Mead Corp. Tuesday reported profits for the fourth quarter of 1983 and for the full year, after suffering losses in 1982. And 1984 looks like a good year, said Burnell R. Roberts, chairman and chief executive officer of the Dayton-based forest products and electronic publishing company. "The outlook is for improving conditions in virtually all of our markets, and the company is in an unprecedented position to capitalize on future opportunities," Roberts said. Mead's sales rose 9.8 percent in 1983, to $2,366 billion from $2,127 billion in 1982. Mead reported $30 million in after-tax earnings in 1983 from continuing operations not including results from discontinued operations or one-time gains and losses. That is compared to $32.2 million after-tax loss in 1982. In the fourth quarter, the company earned $18.5 million, or 60 cents per share, on sales of $558.8 million. Mead lost $55.9 million, or $2.13 a share, on sales of $481.8 million in the fourth quarter of 1982. Interstate delays setting dividend Interstate Financial Corp., parent of Third National Bank & Trust Co., said its directors have decided to delay declaring a first-quarter dividend until after a special meeting of shareholde.s on Feb. 9. Shareholders will vote at that meetJnf on a proposed merger of Interstate with Society Corp. If approved, the merger is scheduled to occur in the second quarter. Interstate said that within 10 days following the meeting, directors intend to declare a first-quarter dividend, payable March 15. Autorama offers variety for lease Autorama Inc., an auto leasing service and used car lot, opened for business this week in newly-built facilities at 95 Loop Road, Centerville. Owner Tom Harrigan called it "an auto agency unlike any other In the world." Inside the diamond-shaped, domed showroom, Autorama will have on display new cars from various manufacturers. The cars will be for lease not for sale. Harrigan said they plan to have 1984 Oldsmobiles, Datsuns, Toyotas, Chevrolets and other models for customers to view. A car can be leased for various periods, with an option to purchase. Made at $5O0j000 plant in Dayton U-Haul plans to rent recreational trailers By JUDITH L. SCHULTZ hriim Writer U-Haul, a name synonomous with truck and trailer rentals, Is now going to offer recreational trailers for rent and the first units are being manu-facturered in Dayton. The Dayton Trailer Manufacturing Co. of U-HauL at 31 S. Beckel St, produced its first prototype a month ago and plans to produce 15 hard-top trailers a day on three shifts. The Dayton facility is the first of eight U-Haul pro duction plants spotted around the country that will supply the newly designed trailers to U-Haul rental outlets. "This is the first time a rental center wdl have recreational trailers for rent No one is doing anything on this scale in rentals," said Bill Keller, president of Dayton Trailer. U-Haul officials were in town this morning to announce the new rental service and show off the Dayton-made trailer. KELLER SAID THE manufacturing plant which employs 30 and will grow to 100 at full production, will use an advanced fiberglass "spray up" production method, in which liquid resins are sprayed into molds and fiberglass layered in for rigidity and strength. The 1,250-pound, 13-foot trailer designed by U-Haul sleeps four and comes complete with toilet stove and furnace. U-Haul will rent the trailers one-way or on a weekly basis. "Now, when someone moves across country, they can load their belongings in a U-Haul trailer and the family follows in a . U-Haul recreational trailer," he said. ; T. The $500,000 Dayton plant is behind ; Keller's U-Haul Renting and Moving Center at 1340 E. Third St and was , selected because of the suitability of the plant vacated some time ago by -H&S Plastics. Dayton also was se- lected as the first manufacturing site because of its central location and because "of good rentals" In the area. Top salesman has volume of $6.5 million A salesman for Iron-gate Realtors who said he works at his business seven days a week was the top salesman in the Dayton area in 1983 with a total residential volume of $6.5 million. Raffi "Chip" Mardero-sian said he posted the high-volume mark in part because a dozen 'of the houses he sold carried price tags of more than $200,000. Altogether, Mardero-sian sold 43 houses last year. A spokesman for -the Dayton Area Board of Realtors said $6.5 million is believed the highest volume ever reached by a Dayton-area salesperson who is not a partner or owner of a brokerage firm. , Irongate posted sales of $61 milUon in 1983. National Tag strike ends Production workers at the National Tag Co., 8155 Brown School Road in Vandalla, voted Tuesday to end their five day-old strike when they approved a new three-year contract. Chuck Sasser, business agent for Local 957 of the Teamsters, said the 49-member bargaining group approved the settlement by a 3-1 margin. He said it provides for improved wages and insurance, but declined to be more specific. 1 8S Mr, i i COMMONWEALTH COMMODITIES want to open a BRANCH OFFICE in your town We're looking for an individual ready for a career in commodities. The candidate may be an insurance or real estate person seeking a more lucrative field or a farmerrancher ready to move to town. The individual we select need not have commodities experience, although an agricultural background would be a definite plus. We offer complete training, personalized assistance in building a profitable business through a proven marketing plan, fully computerized bookkeeping services, WATS lines, backup from respected research analysts ... and an excellent commission structure! If you are interested in talking it over, call GEORGE C. LANE TOLL FREE 800-621-2371 1 COMMONWEALTH COMMODITIES COflKa)ATlOH 1 75 W Jackson Blvd . Chicago. IL 60604 Commodity Optioas. The future is limitless. Now there is a way to take advantage of the great profit potential and leverage in commodities, and at the same time, limit your maximum risk to a known predeterrriined amount Conimodity Futures Options: Major Market Indices, Treasury Bonds, Currencies, Gold and Sugar. When you purchase a Commodity Option, you never lose more than the amount of your initial investment. At the same time, you could benefit from unlimited profit potential associated with commodity futures trading. And you don't have to worry about forced liquidations due to margin calls. Commodity Futures Options may not be suitable for all investors. To learn more about whether they are right for your investment outlook, plan to attend this special free seminar sponsored by Prudential-Bache Securities. I- I- I. 'V I Speaker Abby Goldiner-Archbald Director Commodity Options-New York Prudential-Bache Securities When: Tuesday, January 31st at 7:30 P.M. Where: Dayton Racquet Club, Kettering Tower Dayton Admission is free, but reservations are suggested. To reserve your seat call Donna Sorrell at 513-228-2828 or send in the coupon below. Prudential-Bache Securities, One 1st National Plaza. R O. Box 1186, Dayton, Ohio 45402 513-228-2828 Please reserve seats(s) at your Commodity Options Seminar. I cannot attend, please send me further information. flame Address City Zip Phone ( ) CHems. please give name and office of Account Executive. Bring us your future. Prudential-Bache Securities Cr9B3Plurk'anlBHi:nc.Siu1-s MrnKxt SIPC SHORT HANDED? CALL. . . 228-3262 lBbmp(xaryScnri(xs ProvMng temporary help for al office and industrial business needs. What goes up has just come down 15. 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