General Motors and the striking United Auto Workers tentatively agreed on a new national contract with the union declaring it had won its fight to protect members’ jobs and the company calling it a “win-win” settlement.
Moran Guaranty Trust, the nation’s fifth largest bank, lowered its prime rate to 12.75 percent from 13 percent.
Consumer prices surging at their steepest clip in four months rose 0.5 percent in august as both food and clothing became significantly more expensive. Local merchants agreed they had begun to feel the pinch.
Efforts were being made to set up a united program of development projects for the downtown to prevent confusion and inefficiency. Win Campbell, Downtown Improvement Committee member, suggested study of an ordinance that would better organize the program.
An inter-university center for excellence in teaching and the discontinuation or modification of 25 degree programs across the state were the centerpieces of a report presented to the Kansas Board of Regents meeting. The new teaching center was proposed for Kansas University.