11 Oct 1979
Page 1
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This newspaper page contains 8 articles. Subscribers can read the full text of each article.
Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 11, 1979
Page
1
Investors fear that government monetary policy will trigger a sharp recession and IBM's disappointing earnings report knocked the market down after an early rally. The Dow fell about 8.5 points by midafternoon as trading volume climbed and breadth widened with more decliners than advancers.
Alicia de Larrocha, renowned pianist, appears to reach a career peak as she remains a dominant figure in classical music and concert halls worldwide.
The article notes the difficulty of removing blighted houses as part of redevelopment plans. It cites a steep current slump on the stock market alongside historical references to 1929, and mentions a brokerage firms shuffle related to selling pressures on a Wednesday. It also highlights a football player noted for an exceptional solo performance.
Prazz! notes the original Star Light Room's return with a prominent Midwest aquarium. Plus mentions Jasmine performing on page 4B and a chuckle column about a man overly involved in his business on page 19A. Copyright.
U S District Judge Frank J McGarr ordered the Rock Island Line to present a reorganization plan within 60 days or arrange sale of the railroad. Transportation Secretary Neil Goldschmidt pressed for liquidation, saying the system lacks a self sustaining core and cash to pay current bills. The trustee, William M Gibbons, acknowledged the railway had been in trouble long before.
Mississippi Valley Airlines seeks to relocate all Midwestern operations to Cedar Rapids airport. Vice President Pat Thompson told the Cedar Rapids Airport Commission that Cedar Rapids offers the strongest growth potential and central location. If approved, only the corporate headquarters would stay in La Crosse.
Fidel Castro touched down at Kennedy Airport with a 2000-strong security detail and green fatigues, saying he was happy to be in the U.S. He was met by immigration and U.N. officials as anti-C Castro demonstrators clashed with guards near the Cuban Mission to the United Nations. Police separated pro and anti Castro factions as preparations continued for his UN address.
The 1979 Nobel Prize for medicine is awarded jointly to Allan Cormack and Godfrey Hounsfield for developing CT scanning. The two scientists share a $190000 prize after independent basic research on the CAT system, which uses X rays and a computer to render detailed cross sectional images of the living body.
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