21 Jun 1995
Page 1
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Newspaper
Harrisonburg Daily News Record
Location
Harrisonburg, Virginia, United States of America
Date
Jun 21, 1995
Page
1
Federal Reserve Chairman Alan Greenspan told the Economic Club of New York that he was loath to lower short term rates immediately. He described the outlook as uncertain and warned the economy may slip into a mild recession amid growth slowdown.
The article notes housing starts fall unexpectedly while Alan Greenspan discusses monetary policy. He warns against stimulating activity by lowering rates if funds shift abroad and weakening the dollar. He leaves open a possible rate cut later if deficit reducing moves unfold or signs worsen the economy. The Fed panel meets July 5 and 6 amid some dissent from members like Alan Blinder.
Researchers at the University of Texas report telomerase present in 109 of 136 primary lung cancer tumors and only 3 of 68 adjacent noncancerous tissues. The enzyme may drive limitless cancer cell division and could be a target for future therapies.
Senate voters backed scrapping the 55 mph federal speed limit for cars while keeping the limit for trucks and buses, rejecting in a 52 45 vote an effort to remove state seat belt and helmet requirements. The highway bill would fund 13 billion over two years to improve nearly 160 thousand miles of roads, with House action pending. Defenders say the limit has saved lives since 1974.
Senate voices warn of deaths while supporters push to end the federal restriction allowing states to set offshore drilling rules. Critics say the change endangers lives. proponents frame it as states' rights.
The Page County landfill operator Tellurian faces a suit seeking dissolution of the firm plus 2.35 million dollars for Perkins and Tellurian officials for wages and punitive damages. Perkins, ex president and Tellurian shareholder, accuses Douglas Dalton and John Olver of secretly ousting him via altered meeting minutes. Olver denies knowledge of the suit. Dalton could not be reached for comment. Tellurian is under contract to build and operate the new regional landfill.
A statewide poll of 1,000 Virginia voters shows broad backing for environmental safeguards despite praise for Gov. George Allen. While 69 percent approve of Allen, 55 percent oppose deregulation of the environment, and 63 percent reject further cuts to environmental controls. The Virginia Environmental Endowment sponsored the study.
Oklahoma City AP reports Air Force Captain Jim Wang was acquitted in the 1994 friendly fire incident over northern Iraq that downed two U.S. helicopters, killing 26. A military jury could have punished dereliction of duty. five other officers and one fighter pilot saw dropped charges. Defense Secretary Perry defended the handling while sanctions affected several crew members. The case concluded with no criminal blame assigned.
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