05 Feb 1986
Page 1
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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Feb 05, 1986
Page
1
NASA said on Tuesday that one of Challenger's two rocket boosters may have been located, indicating potential progress in the investigation into the 1986 disaster.
President Reagan outlined priorities after the Challenger tragedy. He touted a stronger economy, called for welfare reform to curb dependency, and urged a plan for catastrophic illness insurance. He urged a world monetary conference, reinforced Gramm Rudman goals for a balanced 1991 budget, and rejected tax hikes while stressing family and community as core values.
President Reagan, delivering the fifth State of the Union, warned of a crisis in welfare families and pledged a strategy to cut dependency. He touted a Great American Comeback, urged redefining government’s role, and urged tax reform, spending cuts, and private insurance partnerships to reduce the deficit. He paused to honor the Challenger crew and saluted four young heroes, framing a hopeful national trajectory.
Democrats charged President Reagan's State of the Union address masks a growing budget deficit, a weak farm economy, and foreign trade red ink. The response featured Charles S. Robb, Sen. George Mitchell, Harriett Woods, and Reps. Tom Daschle and William Gray, with Mitchell moderating.
The Senate passed the plan to sell Conrail for 1.2 billion dollars to Norfolk Southern, sending the bill to the House. The vote drew praise from Transportation Secretary Elizabeth Dole and NS chairman Robert Claytor, amid a heated debate with Morgan Stanley Investor Group supporters. Critics warn of monopoly risks and higher costs for shippers, while Metzenbaum predicts a tough House fight and Arlen Specter vows ongoing opposition.
Gov Arch Moore told Tuesday he strongly opposes the proposed Conrail sale to Norfolk Southern despite Senate approval. He argued the merger would hurt competition and choices for shippers and limit West Virginia rail service to two lines, urging sale to the public to preserve a third major railroad presence.
Princeton High School Foundation receives a $300,000 grant from the Governor's Office of Community and Economic Development for a recreational complex. The total early funding now stands at $900,000 with a recent $600,000 donation, part of a $1.9 million campaign. The project includes a 6,000-seat football stadium, tennis courts, track, fields, and recreation areas. Governor Arch Moore backs the effort and notes the funds will aid materials, supplies and at least eight jobs.
Oil prices plunged to about 15 a barrel on Tuesday as traders reacted to an OPEC meeting that failed to forge a defense plan for market share. March crude hit 15.44 on the NYMEX while Brent traded around 15.50 in Europe, the lowest in years. Analysts described a violent, fear driven selloff and a continuing tailspin as supplies outpace demand.
West Virginia Regents Chancellor Leon Ginsberg resigns amid board friction with Governor Arch Moore. Acting chancellor will be Thomas Cole as the search for a permanent replacement begins. Board President William Watson cites pressure from state college and university presidents and ongoing battles over a proposed three member commission and funding cuts.
The forecast calls for cloudy skies with rain expected most of the day. A high near 53 degrees is expected, with an overnight low around 44 and a chance of a shower tonight.
The stock market inched lower with the Dow Jones industrial average briefly surpassing 1600 for the first time. By midday the 30 blue chips were up over 6 points, later turning to a 1.04-point loss, ending at 1593.23.
Editorial lauds Gov Arch Moore Highway Commissioner William Ritchie and Sen Tony Whitlow for advancing a Brickyard Road bridge project in Princeton. Residents are told construction should start later this year according to the editorial in section A-4.
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