Wage based Social Security formula debated by Greenspan panel
A presidential commission favors tying automatic benefit boosts to wage growth rather than the CPI. The wage based approach would subtract productivity gains, potentially offering higher long term payments but sparking opposition from AFL CIO and AARP. Greenspan argues it could stabilize the trust fund while preserving long term benefit levels. The panel aims to report by year end as the program faces 156 billion in benefits to 36.2 million this year.
MENTIONED IN THIS ARTICLE
New York Times Service
Washington
Commission
Alan Greenspan
National Commission On Social Security Reform
Social Security Trust Fund
Lane Kirkland
Afl-Cio
American Association of Retired Persons
Cyril Brickfield
Association
Association of Retired Persons
Greenspan
Reagan
Congress
Robert Myers
Labor Department
German baker crafts massive cake for Guinness record
Baker Hans Kaltenbach of Voehrenbach West Germany showcases a giant Gugelhopf weighing 2,145 pounds and using 924 pounds of flour and 900 eggs aiming for Guinness World Records. He stands beside the 5%-foot tall cake.
MENTIONED IN THIS ARTICLE
Hans Kaltenbach
Voehrenbach
West Germany
Kaltenbach
Fly conquers Venezuelan tower in Caracas ascent
Dan Goodwin the so called human fly conquered the 74 story Torres de Parque Central in Caracas drawing 2000 spectators. He waved a banner saying Animo Amador and shouted Viva Venezuela before reporters as rain hampered the ascent.
MENTIONED IN THIS ARTICLE
Caracas
Venezuela
Dan Goodwin
Sears
Chicago
Goodwin
Torres de Parque Central
Ebert Creates Movienews Review Show for ABC FM
Roger Ebert adds a new job writing and hosting a one minute weekday show Movienews on the ABC FM radio network. He will review films examine trends and profile movie leaders in the compact segment.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Roger Ebert
Gene Siskel
Abc-Fm
Ebert
Sheik to stay in Florida party noted in Miami area
Politicians and businessmen joined 150 guests for an outdoor fest at Greynolds Park honoring Saudi Sheik Mohamed al Fassi. Dade County businessman Jack Yanks praised the billionaire who once bounced a 1.5 million dollar check and made it good. Al Fassi has donated 600,000 to local governments and charities and says he will remain in the Miami area after last months arrest over a 1.45 million debt. He declared the party shows the people love him.
MENTIONED IN THIS ARTICLE
Miami Beach
Fla
Mohamed al Fassi
Dade County
Jack Yanks
Greynolds Park
Florida
Sheik
al Fassi
Diplomat Hotel
Miami
Nuclear plant cooling risk: 14 reactors eyed for thermal shock
NRC safety engineer warns that steel containment vessels of 14 U.S. reactors could crack under emergency cooling, risking core meltdown. The list includes Fort Calhoun Nebraska Hartsville South Carolina San Clemente California and others across Maine Massachusetts Illinois Florida. In separate note eleven inmates from four maximum security prisons were moved to federal prisons pre-dawn to curb gang violence.
MENTIONED IN THIS ARTICLE
Dallas
United States
Demetrio Basdekas
Nuclear Regulatory Commission
Dallas Times Herald
NRC
Fort Calhoun
Neb
Hartsville
S.C
San Clemente, Calif
Wiscasset, Maine
South
Springfield
Ill
State Corrections
Michael Lane
Gazette Wire Services
Marcos warns unrest planned by rebels
President Marcos alleged a nationwide strike bombings and assassinations by dissidents timed to his US visit. He warned opponents at a Manila military camp that a list of labor leaders rebels and intellectuals would be kept and those involved would be held responsible. He hinted at preemptive action if security worsens.
MENTIONED IN THIS ARTICLE
Bicutan
Philippines
Ferdinand Marcos
United States
Marcos
Manila
Salvador Laurel
anti-Marcos United Democratic Nationalist Organization
Laurel
Greek graduates fast for jobs in protest at Athens University
Three university graduates who passed civil service exams but werent appointed have been fasting for 50 days outside Athens University to press the Socialist government. They say the action targets patronage and seeks 1,500 graduates to be posted to ministries. They blame the conservative government for delays in 1978 to 1980 exam passers. In other notes residents vote for a regional assembly to control local spending. France governs the island birthplace of Napoleon since 1769.
MENTIONED IN THIS ARTICLE
Athens
Greece
Athens University
Anna Siaterli
Mediterranean Island
France
Island
Napoleon Bonaparte
Iran Warns of Offensives Over Demands Amid Iraq Tensions
NICOSIA Cyprus AP reports Iran's leaders threaten new offensives against Iraq if demands remain unmet. Ayatollah Khomeini warned Iran will stay at war and not make peace with thugs. Parliament Speaker Rafsanjani warned troops could urge closer to Baghdad if Iraq continues fighting.
MENTIONED IN THIS ARTICLE
Nicosia
Cyprus
Iraq
Ayatollah
Ruhollah Khomeini
Tehran
Iran
Ali Akbar Hashemi
Rafsanjani
Baghdad
Baldrige Says 350 Billion Tax Cut Too Large
Commerce Secretary Malcolm Baldrige acknowledged that last year’s 350 billion tax cut was too large and that new revenues must be raised to reduce forecast deficits. He contrasted his view with Reagan’s push for a larger tax cut and noted markets favor deficit reduction to lower interest rates.
MENTIONED IN THIS ARTICLE
Washington
Commerce
Malcolm Baldrige
Baldrige
Cable News
Reagan
Congess
California
Congress
Also Mentioned on This Page
Council of Economic Advisers
Ford Administration
Venezuelan
U.S
Haven, Mich
Rowe
Mass
Seneca, S.C
Zion, Ill
Russellville, Ark
Buchanan, N.Y
Goldsboro
Clay Station
Calif
Gravel Neck
Red Level, Fla
Corsica
Ajaccio
Worthmore
Florsheim
Florsheim Shoe
Westdale Mall
Cedar Rapids
Westroads
Omaha
American Express
Valley West Mall
Des Moines
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