Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, January 26, 1993 TAG: 9301260116
SECTION: BUSINESS PAGE: A5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Short
IN BUSINESS
American Express elects new CEONEW YORK - After weeks of turmoil, American Express Co. on Monday elected Harvey Golub its new chief executive but said James D. Robinson III would remain chairman of the charge card and travel conglomerate.
The announcement appeared to be a compromise adopted by a board that was bitterly divided over whether to promote Golub to the top of the 143-year-old company.
Robinson also will become chairman and chief executive officer of the company's struggling Shearson Lehman Brothers investment division. He indicated the company would consider spinning off Shearson as a separate public company, as expected. - Associated Press
Car sales figures do mid-January spin
NEW YORK - U.S. car sales figures for the middle of January, issued Monday, show consumer spending for big-ticket items is stuck in low gear, analysts said.
U.S. automobile manufacturers sold an estimated 136,462 cars Jan. 11-20, up 4.2 percent from year-ago figures to a seasonally adjusted annualized rate of 5.9 million units.
Car sales for the first 10 days of January came in at a seasonally adjusted annualized rate of 5.3 million units and for the 1991 period at 5.5 million. That compares with a 6.6 million-unit rate for December and a 6.2 million rate for November. Economists had expected a 6 million-unit rate. - Knight-Ridder/Tribune