Apple unveils price cuts, rebatesApple Computer Inc...

BUSINESS DIGEST

June 15, 1993

Apple unveils price cuts, rebates

Apple Computer Inc., buckling under competitive pressures, announced a slew of price cuts and rebates yesterday on a broad range of its computers, printers, scanners and other products.

The world's second-largest manufacturer of personal computers said it had cut prices of its popular Macintosh personal computers as much as 12.6 percent.

Apple also slashed prices of printers and other peripherals as much as 26 percent and offered rebates of up to $350.

Site to build cheapest car studied

Volkswagen AG's controversial production chief Jose Ignacio Lopez de Arriortua said yesterday his dream of setting up a high-tech, low-cost plant to build the world's cheapest car apparently is about to come true.

The company intends to set up a laboratory for car production technology and is considering a site in Amorebieta in the Basque region of Spain, Mr. Lopez's birthplace.

Kodak plans major announcement

Eastman Kodak Co., under pressure from investors to accelerate its turnaround effort, is expected to announce a major piece of its restructuring plan at a meeting with investors and analysts in New York today. Kodak will make a major announcement, probably the sale of an asset, investors said.

High court upholds pension law

The Supreme Court unanimously upheld yesterday the constitutionality of the federal pension law that requires employers to make good on their financial obligations when they withdraw from an industrywide pension plan.

Loan delinquency rate falls

The delinquency rate on consumer loans fell during the first quarter to the lowest level in nearly four years, improving prospects for retail spending later this year.

A seasonally adjusted 2.31 percent of consumer loans were 30 days or more past due at the end of March, down from 2.43 percent three months earlier, the American Bankers Association said. In Maryland, the rate doubled, to 2.78 percent from 1.37 a year ago.

Rate of inventory rise slows

Business inventories rose in April for a seventh straight month, but the rate slowed in what analysts said was a continuing attempt to trim overstocked shelves and back lots. The Commerce Department said yesterday that inventories rose 0.1 percent, to a seasonally adjusted $860.4 billion, from $859.5 billion in March.

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