GM-UAW labor talks bog down
The labor contract talks between the United Automobile Workers union and General Motors Corp. have reached a strangely upbeat standoff with no agreement but also no strike deadline.
So far, GM has agreed to most of the basic package of wages and benefits in the pattern-setting contract negotiated with Ford Motor Co. last month, UAW President Owen F. Bieber told union leaders yesterday. But GM is still haggling over two expensive and complex issues: pension benefits and job security funds.
British Airways sued by competitor
Virgin Atlantic Airways sued rival British Airways yesterday, claiming that British Airways uses its market muscle to steer trans-Atlantic passengers away from Virgin.
British Airways spokesmen said the airline hadn't seen the suit and would not comment.
Black & Decker promotes Schoewe
The Black & Decker Corp. said Thomas M. Schoewe, the company's vice president of finance since 1990, was named chief financial officer.
Mr. Schoewe, 41, had previously been responsible for all financial operations except the treasury and tax functions. Before joining Black & Decker in 1986, he was controller and chief financial officer of Beatrice Companies' $2 billion consumer durables group.
Rise in jobless claims reported
The number of people filing claims for state unemployment benefits jumped sharply last week, the Labor Department said yesterday, but economists said it did not signal more weakness in the labor market.
New jobless claims climbed to 350,000 in the week that ended Oct. 16, a second straight weekly increase after a revised 344,000-claim increase the prior week that previously was reported as 329,000. In Maryland, the number of first-time claims for unemployment insurance jumped by 1,479 to reach 4,751 in the week ended Oct. 9.
MicroProse finds software glitch
MicroProse Inc. said yesterday that problems with a recently purchased German software operation might expose the company to losses of up to $5 million.
The Hunt Valley-based computer game maker also said it expected to report an operating loss for the fiscal quarter that ended Sept. 30.
DuPont to sell rifle maker
DuPont Co. agreed to sell the Remington Arms Co. to a private investment firm, saying goodbye to a rifle maker that was a fixture in the old Wild West but a misfit in the modern, cost-cutting world of chemicals.