Home values rise in U.S.Property values rose in most areas...

BUSINESS DIGEST

February 10, 1993

Home values rise in U.S.

Property values rose in most areas of the nation during the final quarter of 1992, a real estate trade group said yesterday. The exceptions were in California and some parts of the Northeast.

A survey of 125 metropolitan areas by the National Association of Realtors showed 101 increases over the same period a year earlier in the prices of previously owned, single-family detached and attached homes.

In Baltimore, prices rose 0.4 percent from a year earlier, to $113,800.

Ford expected to offer card

Ford Motor Co., on the heels of General Motor Corp.'s entry into the credit card market, is expected to launch its own rebate credit card with Citicorp tomorrow. Detroit's second-largest automaker wouldn't confirm or deny that a scheduled news conference in New York later this week was being held to announce the much-awaited card.

Next Computer to drop hardware

Next Computer Inc. will get out of hardware and focus on its much-admired software, a newspaper reported yesterday.

Computer pioneer Steve Jobs' company is negotiating to sell the hardware business to Canon Inc., one of Next's major investors, the San Francisco Chronicle reported. The sale will result in the layoff of about 300 to 540 employees, the newspaper said.

Sales at wholesale level rise

Sales at the wholesale level rose in December and for all of 1992 after falling the prior year in another sign of increased business activity, the Commerce Department said yesterday. Wholesalers' business increased by 1.5 percent in December, to a seasonally adjusted $153.3 billion, after falling by one-tenth of 1 percent in November.

For all of 1992, sales at wholesale increased by 3.1 percent, to $1.80 trillion, after falling by an identical 3.1 percent in 1991, the department said.

Business failures set record

A record number of businesses failed in the United States in 1992, the Dun & Bradstreet Corp. reported. But while 96,836 businesses failed, up 9.9 percent from the 88,140 that failed in 1991, the rate of increase peaked in 1992, D & B said.

Compaq sales up in Europe

Compaq Computer Corp. yesterday reported a 48 percent jump in European sales for 1992, citing the success of affordable new products and growth in the specific markets, including the formerly Communist Eastern Europe.

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