05 Dec 1986
Page 1
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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 05, 1986
Page
1
Two firms Honeywell and Reviow Group announced on Thursday they will sell their operations in South Africa. The move affects local plants in East Princeton Athens Matewan areas as part of a regional restructuring.
Senate investigators grilled CIA Deputy Director for four hours and subpoenaed nationwide documents as the probe widens into arms shipments to Iran and the flow of profits to Nicaraguan rebels. President Reagan said Cabinet members may invoke the Fifth when testifying. A rift grew within the White House over the origins of Reagan's controversial arms policy. White House spokesman Speakes rejected Weinberger's claim that bad advice guided the decision. Congress plans to form special committees after the New Year as the crisis deepens.
Report notes arms shipments to Iran as part of a hidden diplomatic effort with the Persian Gulf nation. The source alleges money moved through a Swiss account to Contra rebels in Nicaragua, breaching laws prohibiting such aid. Justice Department probes private support for the Contras, while the president seeks an independent counsel with Meese still reviewing the case.
Chief White House spokesman Larry Speakes, 47, announced his resignation to take an executive role at Merrill Lynch & Co. He has been negotiating for a senior vice president post worth about 250000 dollars annually, with a February 1 start. President Reagan noted the timing amid Iran arms sales furor and diverted profits.
U S factory orders dropped 3.6 percent in October, the steepest decline in over six years, prompting economists to warn that weak manufacturing and consumer demand could push the economy into a 1987 recession. Analysts cite the big deficit and trade trends as key uncertainties.
In Lerona near Pipestem State Park a long sunny afternoon failed to fully melt a pool of water beside state Route 20. The scene captures lingering ice despite bright conditions in Mercer County as residents observe the steady thaw along the rural roadside.
The forecast calls for mostly sunny skies with a high near 38 degrees. Tonight will be clear and very cold with a low around 24 degrees. Weather A-68.
The Dow Jones industrial average dropped 7.59 points on Thursday, ending at 1939.68. The article notes varied interpretations of West Virginia’s financial health, urging officials to decide which version reflects reality.
In McDowell County workers discussed leasing USX Mining Co. assets to create an employee driven operation. A lease or cooperative, possibly followed by an Employee Stock Ownership Plan, could return more than 1,000 delayed workers to site quickly while negotiations for a buyout continue. Officials noted rumors of equipment sales by Alpheus mines could raise costs and hinder leasing efforts.
A nationwide AMA survey of 1,000 physicians finds 48 percent feel unduly pressured to discharge Medicare patients before they are ready, while 28 percent feel no pressure due to reimbursement concerns. Doctors warn this threatens quality of care as DRG rules shift incentives.
The Christmas Tree campaign more than doubled in size on Thursday reaching $930 toward a $10,000 1986 goal. Seven additional donations, including a $300 employee group gift, raised funds yet left $9,070 to raise before the slate of area children receive Christmas cheer. Donors are urged to send contributions to Bluefield Daily Telegraph P O Box 1599 or deliver to 928 Bluefield Ave Bluefield West Virginia 24701.
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