Auto sales of North American-made cars and trucks by the Big Three automakers dropped 6.7 percent in late May compared with last year, when incentives were big showroom draws.
Bloomingdale's said it will close two branch stores in Dallas and Stamford, Conn., and consolidate store credit operations in a move that will affect nearly 1,100 employees.
Coca-Cola Enterprises of Atlanta, the bottling arm of the soft-drink giant, will purchase Coca-Cola Bottling of Arkansas for about $250 million while selling its interests in two other bottlers that serve parts of Ohio and Kentucky for $120 million.
Drexel Burnham Lambert Group Inc. will present creditors with a reorganization plan that will pay them 100 cents for every dollar owed, the New York Times reported. The proposal is expected to be announced today at a meeting between the creditors and Drexel's law firm.
Union officials striking against Greyhound Lines cheered the bus company's bankruptcy filing. ''It illustrates the point that Fred Currey has been lying about the company's finances, lying about ridership and lying about the ability of scab drivers to serve the public,'' said Michael Holden, vice president of Local 1205 in Boston. The union probably will ask the bankruptcy court to appoint a trustee to manage the company.
Spacehab, a Washington-based space research development company, said a group of Japanese investors will purchase 2 million shares of company stock for $10 million. Under an agreement with NASA, Spacehab will remain majority-owned by U.S shareholders.
Eastern Airlines plans to acquire the failing Eastern/Continental Express, which had been expected to shut down this month, and to set up a commuter airline geared to Florida business travelers. The new Eastern Express is to operate from the airline's existing Miami hub and a new hub in Tampa.
Boeing received an order for four 737-500s, worth about $130 million, from Lynjeflyg, the domestic airline of Sweden.
Sikorsky Aircraft is developing a bicycle-sized, pilotless air vehicle for the Defense Department. The six-foot wide, disk-shaped vehicle, dubbed the ''Cypher,'' will be used for ground and naval surveillance and communications.
The SEC accused a former top executive of the A&P supermarket chain, Alan C. Goulding, of giving inside information about takeovers to friends. Five other men who allegedly traded securities based on Goulding's information were also charged. All six agreed to settle the charges, without admitting guilt. Goulding will pay a penalty of $635,000, and the other five will pay a total of $1.46 million in penalties and alleged illegal profits.
Sysorex Information Systems and SMS Data Products Group, losing bidders for a $400 million Treasury microcomputer contract awarded to Sears Business Systems Centers, asked the GSA Board of Contract Appeals to overturn the award.
Joe Isuzu, the pathological liar who has appeared for four years in commercials for Isuzu vehicles, is losing his job. American Isuzu Motors said it will put Joe, played by actor David Leisure, out to pasture when it introduces its 1991 lineup of vehicles.
Andrew Hove, a Nebraska banker, has been nominated by President Bush to the board of the Federal Deposit Insurance Corp.