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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 21, 1979
Page
3
Congress approved a four year 3.5 billion financing package for Chrysler Corp with 1.5 billion in guaranteed loans. The plan aims to avert bankruptcy and requires agreement among Chrysler, its lenders and unionized workers before a Carter signature.
Douglas Fraser, UAW president, reluctantly backs the plan but stops short of pledging to win ratification from members. Congress speeds the bill through with a 241-124 House vote and a 43-34 Senate tally after midnight as wage concessions are debated. Senator William Armstrong, R-Colp., opposes the plan.
After six hours of talks Thursday House and Senate bargainers reached a compromise on a bill aligned with administration proposals. It would require Chrysler’s 105,000 union workers to forgo 462.5 million in wages and benefits over three years, else bankruptcy by mid January per company officials.
A National Cancer Institute report links heavy saccharin or cyclamate use to higher bladder cancer risk. The study of 9,000+ people over 15 months cost 1.5 million dollars and was requested by the FDA amid ongoing debates on saccharin safety.
Chicago commuters return to near normal service as 11 000 CTA workers resume duties after Judge Donald J. O'Brien orders back to work and a 24 cent per hour raise. Arbitration of cost of living pay adjustments to follow by March 1.
A judge ruled prosecutors may pursue first degree murder charges for the death of a viable fetus in the Topeka homicide case of Catherine Cummings. Adrian Washington was convicted of first degree murder, rape and aggravated burglary in the stabbing death of the pregnant 22 year old.
President Choi Kyu-hah delivers inaugural address promising about a year to rewrite the constitution and set stage for elections. He appeals for national unity before 3,000 dignitaries as Park Chung-hee’s era ends after his assassination.
A government owned bus carrying Christmas travelers fell from a flood damaged bridge into a muddy river in Ilagan, Philippines. At least 43 dead as authorities struggle to recover more victims and request navy frogmen for the search.
In London a fragile peace settlement was signed promising independent black rule for Rhodesia after 14 years of rebellion. British Foreign Secretary Lord Carrington presided as Abel Muzorewa joined Joshua Nkomo and Robert Mugabe, co leaders of the Patriotic Front, in the ceremony.
Chicago Public Schools workers fear a $41.5 million shortfall as only $8.7 million remains in the bank. Mayor Jane Byrne planned talks with Governor James Thompson to fund the payroll for 48 600 employees. CTU President Robert Healy said members would meet if paychecks are not issued but remained hopeful.
Philip M. Klutznick a lawyer and investment banker will be the nations 26th secretary of commerce Senate confirmation was 74 to 0 He will replace Juanita Kreps as head of the Commerce Department The 72 year old Klutznick has extensive government and business background He resides in Chicago.
Congressional negotiators edge toward a $227.3 billion windfall profits tax on the oil industry as they compromise on overall limits. The agreement aims to show resolve to pass the tax amid Carter’s price control rollback, with about 49 percent of the windfall contested and sector-wide implications for 1980s energy costs.
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