New York City Avoids Default after Teacher Pension Bailout
New York City narrowly averted default when teachers agreed to contribute 150 million dollars from pension funds two hours before 453 million dollars in debts were due. Gov. Carey warned the crisis persists, urging federal help from President Ford as markets trembled and confidence faltered.
MENTIONED IN THIS ARTICLE
New York
UPI
New York City
Albert Shanker
Teachers Union
Ford
Hugh L. Carey
Carey
London
Federal Reserve
Manufactuers Hanover Trust
White House
Ron Nelsen
Kissinger Reveals Oil Pact Pledges To Israel Egypt
Kissinger told Congress the administration regards two of sixteen assurances in the Sinai Accord as legally binding. The oil supply pledge to Israel and a consultative pledge with Tel Aviv amid a Soviet threat are part of four documents now declassified and released by the Senate committee. The other twenty-nine pledges are viewed as moral obligations. Senator Dick Clark notes the administration has not publicly stated how binding these promises are.
MENTIONED IN THIS ARTICLE
Washington
UPI
Henry A. Kissinger
Congress
Israel
Tel Aviv
Kissinger
Egypt
Sinai
Senate Foreign Relations Committee
Sen
Dick Clark
Iowa
Senate
State Department
Monroe Leigh
James McCartney
Knight Newspapers
McCartney
HUD to cut home loan rates to five percent
Housing Secretary Carla Hills announced a new program offering subsidies to reduce mortgage interest to 5 percent for low to moderate income buyers about 9 000 to 11 000 a year in after tax earnings. The plan, to begin in January, aims to boost the housing market and cut unemployment among builders by enabling more moderate price homes. Down payments would be about 1500 to 2000 dollars with many participants expected to only rely on the subsidy for a few years as incomes rise.
MENTIONED IN THIS ARTICLE
Washington
UPI
Carla Hills
Hills
Housing and Urban Development
Wallace Denied Papal Audience in Rome Visit
In Rome Pope Paul VI declined Alabama Governor George Wallace a private audience citing prior commitments. Wallace said he understood the Holy Year limited meetings and noted Italy as a strong NATO member amid concerns over the Communist party’s regional gains. He met Italian President Leone and discussed trade with Italian business leaders.
MENTIONED IN THIS ARTICLE
Rome
UPI
Vatican
Paul VI
Alabama
George Wallace
Wallace
Italy
Western Alliance
Communist Party
Giovanni Leone
NATO
United States
Europe
Rail loop curtailed by state committee
Vermont's Bicentennial Transportation Committee scaled down the planned two day rail excursion system after evaluating economic feasibility. A test program for the first year may replace the full launch, with the state backing debts during operation if needed. The plan, designed by Robert Burley and to be run with Steamtown, faced concerns about market size and high costs.
MENTIONED IN THIS ARTICLE
Montpelier
UPI
Vermont
Bicentennial Transportation Committee
Bellows Falls
Burlington
Ronald Crisman
Crisman
Waitsfield
Robert Burley
Steamtown
Weekend Rain Forecast With Cool Temperatures
Rain falls today with heavy periods at times and tapering tonight. Temperatures reach the upper 40s to 50s, lows near the 40s. Sunday brings variable clouds and a chance of showers with similar highs in the upper 40s to 50s.
November election stalks Legislature November election stalks Legislature
Vermont's upcoming elections will decide the 180-seat legislature and whether Sen. Robert Stafford or Gov. Thomas Salmon wins the U.S. Senate seat. Salmon weighs a third term or a run against Stafford, while taxes and deficits dominate the fiscal debate. Salmon argues lawmakers blocked his proposed tax hike and impoundment cuts, forcing the legislature to bear future budget choices.
MENTIONED IN THIS ARTICLE
Salmon
U.S. House of Representatives
Stafford
Senate
Leahy pushes federal reform to restore public confidence
Vermont Senator Patrick Leahy urged efficiency in government at a Bennington Rotary Club meeting. He proposed a temporary Select Committee on Federal Responsiveness and Accountability to audit agencies, cut waste, and improve oversight while noting many liberals and conservatives support the plan. He cited rising federal agencies, the AEC split, costly advisory luncheons, and defense lobbyist spending as examples of bureaucratic waste, and urged citizen input on government efficiency.
MENTIONED IN THIS ARTICLE
Patrick J. Leahy
Bennington
Schuyler Jackson
Vermont
Rapidy
Rotary
The
Banner
Leahy
Senate
Washington
Atomic Energy Commission
Advisory Committee
Miami
Las Vegas
Defense Department
Senate Armed Services Committee
Also Mentioned on This Page
Happy Motoring
Frederick D. Burt
Kenneth Clayton
Bennington County
Shires of
Irving Trust
Sanitation Department
HUD
Rod Clarke
John. Q
Sen. Leahy
Rotary Club
Manchester
Garland
Bennington Rotary Club
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