11 Dec 1987
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 11, 1987
Page
1
Iowa hosts Arizona as 6-6 center Kent Hill eyes seventh start in a top ranked matchup. Pharmacy professor testifies cocaine influence in April homicide case. Farm Credit System lender declares insolvency the first in its history.
The Commerce Department reports a $17.6 billion October trade gap, up 25.3 percent from September and prompting a sharp dollar drop to postwar lows. Analysts warn the numbers are startling, with traders reacting as the yen nears 130 in New York.
President Reagan and Mikhail Gorbachev reported dramatic movement in arms control at the Washington summit and pledged to push a space based missile defense program. Reagan called the talks a clear success and praised the talks while Gorbachev said the visit justified hopes as their final press conference urged support.
Gorbachev and Bush halted near a popular lunch spot as bystanders gathered. The Soviet leader greeted about 1,000 people, shaking hands for five minutes before resuming a motorcade to the White House. Bush planned a two day Iowa campaign swing after the summit.
Local stores report tight supply as holiday demand surges. The Video Station owner Kerry Hansen auctions rental rights at 1 p m Saturday with a $20 minimum bid and $400 deposit. Other shops like Video Land USA report early reservations since August with five cameras expected.
Leo J. Lala 54 of Cedar Rapids reportedly toured the Davenport Caterpillar plant twice claiming to represent Fokker Aircraft and Mercedes-Benz in a joint venture. Officials froze on the Nov. 19 announced deal as theft charges surfaced. Lala had pleaded guilty to land-swindle crimes in Linn County.
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