20 Aug 1982
Page 1
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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Aug 20, 1982
Page
1
The measure raises 98.3 billion over three years with 15.2 billion in social spending cuts and up to 10 weeks extra unemployment benefits. The Senate approved 52 to 47 with Vice President Bush ready to break a tie. House support came 226 to 207 as many conservative Republicans balked.
President Reagan announced a limited noncombatant role for about 800 Marines to help evacuate PLO guerrillas from west Beirut. Troops will depart within days and not stay beyond 30 days. The plan aims to enable Lebanon’s sovereignty and a broader peace process with Camp David terms.
Gold rose to its highest in eight months as U.S. rates fell to the lowest since June 1980. Investors sought quality assets amid worries about Mexico's $80 billion foreign debt and possible delays in payments. Three month Treasury yields dropped, with banks and creditors convening at the Federal Reserve Bank of New York.
In Aiken Billy Osborne had a letter praising WTBS Braves coverage published in Sports Illustrated August 23. Clemson Extension Agent found two extra zeroes changed mix from five to 500 pounds per 1000 square feet. Adair de Berry, daughter of Dr and Mrs Carr, saw Sugar Ray Leonard incognito on a flight to Sarasota Springs and he urged secrecy.
About 200 residents packed Belvedere Elementary School to oppose a 20 percent rate increase under bond by South Carolina Electric and Gas Co. Stephen Hamm urged reform while Elaine Johnson presented 1342 protest signatures. Huff called bond hikes illegal and pressed for faster, broader reforms.
The Reagan Administration weighs a 35 million dollar 1984 budget request to purchase or guarantee future purchases of BNFP plutonium. DOE officials seek front-end funding to back a commercial reprocessing venture at Barnwell, with Bechtel and Allied General Nuclear Services involved and a 700 million investment to complete fuel recycling. Presidential approval will decide fate.
South Carolina National Bank trimmed its prime rate to 14 percent while Palm etto Federal Savings and Loan Association lowered adjustable mortgage rates from 16.5 to 15 percent. A $50,000, 30 year loan shows a $60.35 monthly saving at 15 percent versus 16.5 percent. Adjustable rates change annually with the economy.
Robert P. Timmerman asserts Graniteville Company's 99,000 new shares bought by its largest holder are for investment, not a takeover. Victor Posner’s stake rises to about 25 percent, with a 13D form filed. The textile firm reported a $5.4 million first quarter loss amid plant closure, yet Timmerman pledges financial soundness.
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