29 Nov 1988
Page 1
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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Nov 29, 1988
Page
1
London auctioneer Christie’s sold Pablo Picasso’s Acro bat and Young Harlequin for a record 38.46 million dollars. Mitsukoshi Department Store in Tokyo bought it to sell to a private buyer in Japan.
Fair skies are forecast tonight with a low near 30 degrees. Partly sunny tomorrow with a high in the low 60s. See details on Page 4B.
Obituary notice lists Helen R. Burrows Sewell New Jersey Elizabeth A. Graham Ward Harold B. Hatfield Kershaw William W. McGill New Ellenton and Annie R. Sanders Augusta with reference to details on page 48.
The U S economy grew at a 2.6 percent annual rate in the July September quarter, slower than the first half's 3.2 percent but an upward revision from 2.2 percent. The Commerce Department cited stronger personal consumption and faster non farm inventories as key contributors to the revised figure.
The GNP revision shows consumer demand slack could weaken production as inventories are sold. A price index tied to GNP rose 4.7 percent annualized, up from 4.4 percent, with the second quarter at 5.5 percent, the highest in six years. Economists expected the revisions and foresee Fed action to curb inflation by dampening growth.
DOE official urges SRP contractors to guarantee whistleblower protection as hearings begin for a proposed new reactor. Kaspar reiterates policy to encourage reporting health hazards, while a public comment session continues at H Odell Weeks Center through tonight.
The Atlantis crew faces unfavorable weather forecasts for Thursday’s liftoff on a secret military mission. A 21 member team of launch managers will decide key actions while jet training, equipment checks, and operations reviews proceed. The mission reportedly aims to deploy a $500 million Lacrosse satellite to spy on the Soviet Union.
New York banks raised the prime lending rate to 10.5 percent the highest in three years. The move, the fourth this year, could curb holiday spending as economists weigh inflation, dollar weakness, and rising bond yields. Some say impact on consumer purchases may be limited yet others foresee more cautious buying ahead of Christmas. Markets showed modest gains with the dollar firm.
Two explosions at a highway construction site near Kansas City left six firefighters missing and a seventh injured. Ammonium nitrate blasts shattered windows across at least a 10 mile area, power was knocked out briefly, and crews planned to begin search for the missing once light allowed.
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