Arms cost overruns exceed estimates in Navy projects
A congressional study finds major weapons costs running about 50 percent above initial estimates. The Navy projects an $800 million to $850 million overrun with possible extra $350 million linked to 125 ship change orders over 13 years. Estimates for 38 major systems rise to $62.9 billion from $42 billion. Proxmire criticizes central tracking gaps and questions Deep Submerging Rescue Vehicle needs. The hearing also involves a C5A overrun and a fired cost analyst, Fitzgerald, amid Justice Department probes.
MENTIONED IN THIS ARTICLE
Jim Adams
Associated Press
Washington
Congressional
Asst
Robert P. Keller
House Senate
William Proxmire
D-Wis
Navy
Gordon Rule
Navy Procurement Control
Subcommittee On
Proxmire
Keller
John N. Mitchell
Air Force
Mitchell
Justice Department
A. E. Fitzgerald
Fitzgerald
Nixon signs bill for biggest tax revision in history
President Nixon signed the largest tax revision in a generation, tightening loopholes and boosting Social Security payments while approving across the board tax relief for many taxpayers. The measure includes a 15 percent Social Security increase effective Thursday and a rise in personal exemptions, with mixed budget implications. Initial projections show a net revenue gain for two years, then potential deficits, and long term relief for low income families beginning in 1973. The bill also tightens oil and gas depletion allowances, imposes a new minimum tax on large income with special preferences, and raises capital gains taxes for high earners. Nixon warned of actions needed to maintain a balanced budget.
MENTIONED IN THIS ARTICLE
Robert K. Walker
Associated Press
Washington
Nixon
Senate
Senate House
Congress
Secretary of the Treasury
Edwin S. Cohen
Bright tax future but smaller check ahead
Tax Reform Act promises a brighter tomorrow for John Q. Taxpayer, but many will find a smaller paycheck next week as withholding tables and Social Security tax reappear for earnings over 7800 dollars. An IRS expert estimates weekly takes for three income levels, showing small increases in take home for some and losses for others, with effects varying by year and timing.
MENTIONED IN THIS ARTICLE
John M. Pearce
Associated Press
Washington (Ap
John Q
Internal Revenue Service
IRS
Chicago banker Roy Cohn indicted over bank control
AP reports Roy M. Cohn, New York financier and ex counsel to Sen McCarthy, was secretly indicted by a Cook County grand jury on Illinois Bank Company Holding Act violations. Indictment alleges Cohn and associates held over 15 percent control of two Chicago banks. Funeral service set for Robert H Schuh in Winona Minnesota.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Sun-Times
Roy M. Cohn
New York
Joseph R. McCarthy
Wisconsin
Cook County
Cohn
Chrysler orders one week layoffs for Detroit plant workers
Detroit Chrysler Corp announces one week layoff for all assembly plant workers affecting about 37,709 employees. No explanation given, with noted high new car inventories and sagging sales cited as context for the temporary action.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
Chrysler
Nixon signs federal coal mine health bill with caveat
President Nixon signed the federal coal mine health and safety bill, noting that its provision for federal payments to miners disabled by respiratory ailments should not be viewed as a precedent. The measure creates a workmen's compensation-like benefit not covered by most state laws.
MENTIONED IN THIS ARTICLE
Washington
Nixon
United States requests POW list swap and access at Hanoi
Ambassador Philip Habib at the Vietnam peace talks urged North Vietnam to identify U.S. personnel on a missing in action list it holds prisoner. He called for neutral inspection of POW camps and negotiations on a prisoner exchange.
MENTIONED IN THIS ARTICLE
Paris
United States
North Vietnam
U.S
Southeast Asia
Philip Habib
Vietnam
Hanoi
Nations Seek MFN Tariffs, Not Imports With U.S. Liberalization
Washington diplomats from Communist nations react coolly to a new U.S. export liberalization law. They want MFN tariff relief to boost U.S. imports, but still face Smoot Hawley rates. Poland and Yugoslavia already enjoy MFN. Nixon links any changes to Vietnam war settlement, and officials foresee minimal impact on exports.
MENTIONED IN THIS ARTICLE
Washington
U.S
United States
MFN
Poland
Yugoslavia
Europe
Japan
Moscow
Nixon
Hanoi
Minn. 1970 license tabs due by January 10
Minnesota residents face a $1 penalty for buying passenger car stickers or new truck plates after January 10 1970. Only about 700 000 of 2.2 million vehicles had applications. Further penalties apply for late purchases with stickers and plates due by March 2 1970.
MENTIONED IN THIS ARTICLE
ST. Paul
Minnesota
Joseph L. Donovan
Fire damages six story warehouse in Mason City
A night blaze swept a six story warehouse in Mason City Iowa causing about 1 million dollars in damage. The O'Brien Moving and Storage Co leased space to others and the fire started in the basement and ground floor where chemicals coffee and sugar were stored. Six firefighters sustained minor injuries during efforts to contain the blaze.
MENTIONED IN THIS ARTICLE
Mason City
Iowa
O’brien Moving and Storage Co
One death and 47 arrests mark Miami rock fest
A Miami Hollywood rock festival ends with one death Allan Wayne Ollis 20 of Sumter South Carolina, 47 arrests for drugs, three hour power outage, a canceled act and six figure loss. Promoter Norman Johnson estimated expenses around 700000 with a top attendance record of 15000 at 20 dollars a ticket.
MENTIONED IN THIS ARTICLE
Hollywood, Fla
Allan Wayne Ollis
Sumter
S.C
Broward County
Ed Stack
High Masacala
Norman Johnson
Miami-Hollywood Speedway
Johnson
Humphrey denies speech cost him 1968 vote
Former Vice President Hubert H. Humphrey said a Salt Lake City 1968 campaign speech probably did not cost him votes in the presidential race. He told WCCO radio the speech was responsible and he noted Vietnam policy could affect voters but found no clear vote impact.
MENTIONED IN THIS ARTICLE
Minneapolis
Humphrey
University of Minnesota
Macalester College
North Vietnam
Perot Maintains Optimism In Gifts Mission To POWs
Texas billionaire H. Ross Perot departs Anchorage on the final leg of an around-the-world effort to deliver belated Christmas gifts to U S servicemen held prisoners in North Vietnam. He repackages cargo in Bangkok and Copenhagen and aims for Moscow, hoping Soviet cooperation ensures delivery before year’s end.
MENTIONED IN THIS ARTICLE
Anchorage
Alaska
Texas
H. Ross Perot
U.S
North Vietnam
Perot
Bangkok
Thailand
Copenhagen
Denmark
Moscow
Dallas
Vientiane
Laos
Hanoi
Mos
New England braces for another stormy blast
The Weather Bureau warned of more severe weather in New England late today and tonight but said a repeat of the post Christmas storm is unlikely. The four day storm dumped up to 60 inches of snow in Vermont and up to 50 inches in parts of Massachusetts, with power outages and milk dumps reported in dairy areas. Snowmobiles ferried food and medical supplies as nationwide storms also caused flooding, tornado damage in Louisiana, and widespread precipitation from Texas to New Jersey.
MENTIONED IN THIS ARTICLE
Associated Press
New England
U.S
Boston
Vermont
Massachusetts
Newbury
Texas
Familiarity Breeds Contempt Daily Herald Ad Teaser
Remove clutter and earn by selling unused items with a low-cost ad in the Daily Herald. Call 433-8851 to place your ad a day ahead of time and clear your closets efficiently.
MENTIONED IN THIS ARTICLE
Austin Daily Herald
Also Mentioned on This Page
Steve Paterson
Middlesex
Vel
Winona
Minn
Cathedral of the Sacred Heart
Robert H. Schuh
Schuh
Lewiston
Rollingstone
Obrien Moving & Storage
Miami
HHH
North Pole
Red Cross
Pedot
Tennessee Valley
Virginias
Delaware
New Jersey
Jonesville
Vidalia
New Mexico
Pennsylvania
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