The Resolution Trust Corp., the agency in charge of liquidating and restructuring troubled thrifts, offered for sale on the open market part of its portfolio of junk bonds. It declined to provide details but bond traders said the RTC sold about $70 million of the bonds, nearly all it had intended to sell.
Boeing transferred about 450 aircraft workers from Seattle to Palmdale, Calif., because it said it was unable to hire enough qualified people in the Los Angeles area. Boeing is a B-2 subcontractor on the B-2 bomber program, and the cost of the Palmdale transfers, estimated at more than $10 million a year, is being billed to the Air Force.
Salomon Brothers said it agreed to pay the Department of Energy $83.7 million to settle all claims asserted by DOE for alleged violations of mandatory crude oil price regulations and allocations that expired in 1981.
Sears on Saturday will begin a "frequent shopper" program that grants cash certificates to its customers. When a customer accumulates more than $200 in Sears credit card purchases, a certificate valued at 1 percent of those purchases will be mailed with the next bill.
Gasoline rose 2.1 cents a gallon in the past week, to the second-highest level since the Persian Gulf crisis began, the American Automobile Association said. AAA said the average price of regular unleaded gasoline sold at self-service pumps rose to $1.294 a gallon, up 21.9 cents since Aug. 1, the day before Iraq invaded Kuwait.
Norfolk boilermakers went on strike to protest alleged intimidation and unfair discharge of workers, union officials said. Officials of the union representing about 2,500 of the 3,500 workers at Norshipco declined to predict how long the walkout would last.