Hewlett-Packard chairman retiresDavid Packard, who with...

BUSINESS DIGEST

September 18, 1993

Hewlett-Packard chairman retires

David Packard, who with William R. Hewlett started an electronics company in a rented garage and built it into one of the nation's largest computer firms, retired as chairman of Hewlett-Packard Co.

"At my age, it's time for me to step aside," the 81-year-old Mr. Packard said yesterday. "The company is in a strong competitive position, and we have an excellent management team in place to meet the challenges ahead."

Nissan, Mitsubishi raise prices

Japanese automakers Nissan and Mitsubishi announced price increases yesterday of 5.2 percent and nearly 3.5 percent, respectively, on 1994 models.

Both companies said the yen's rise in value against the dollar, which cuts into profits earned in dollars and repatriated to Japan, prompted the increases over comparably equipped 1993 models. Nissan said the average increase would be $823. Mitsubishi did not give an average increase.

UAW chief nixes GM concessions

The head of the United Auto Workers said yesterday that the union does not intend to offer any special concessions to General Motors Corp. when it sits down later this month to negotiate a new labor contract.

In an interview with Ward's Automotive Reports, Owen Bieber said the union plans to apply the pattern agreement it negotiated with Ford Motor Co. this week to GM and to Chrysler Corp. Ford and the UAW tentatively agreed to a new three-year contract on Wednesday after a 40-hour bargaining session.

Kelly-Springfield forms partnership

Cumberland-based Kelly-Springfield Tire Co. has formed a partnership with Goodyear Canada in Etobicoke, Ontario, in an effort to better penetrate tire markets in Canada.

The move will allow the companies to tap a growing market in associate and custom tires in Canada, according to a joint statement issued by Lee N. Fiedler, president of Kelly-Springfield and Eugene R. Culler, president of Goodyear Canada.

Signet to promote new services

Signet Banking Corp., a Richmond-based bank holding company, said yesterday that it will launch an ad campaign tomorrow to promote several new products and services aimed at making banking more convenient.

Chief among them is a toll-free "Telebanking Center," manned 24 hours a day, seven days a week, to allow customers to gain access to information about any of their accounts, and to open an account or apply for a loan. The number is 1-800-2-SIGNET. Signet said it would also allow customers to make appointments at its banking centers, even beyond normal branch hours.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.