White House mocks energy bill as a piece of paper
White House denounces the House energy bill as a piece of paper and urges the Senate to scrap it and start over. Press Secretary Ron Nessen says the bill abandons Ford’s energy independence goal for 1985, and notes possible further steps including a third oil tax or decontrol of domestic oil prices. He indicates Ford may let current controls expire in August.
MENTIONED IN THIS ARTICLE
White House
Washington
UPI
Senate
Ron Nessen
House
Ford
Congress
Nelsen
United States
Coleman forecasts cut in federal road funds proposal
Transportation Secretary William T. Coleman Jr said President Ford will propose reducing the highway trust fund and restrict it to interstate construction. Four cents per gallon federal gas tax would be redirected to the general Treasury two cents and one cent to states with equal new revenue conditions. One cent would be removed if a state raises its gas tax. The plan would leave one cent per gallon plus truck taxes in the fund. The proposal faces a cool reception in Congress.
MENTIONED IN THIS ARTICLE
Washington
UPI
William T. Coleman Jr
Ford
General Treasury
Coleman
National Press Club
Ransom Paid and Kidnapping Tangle in Argentina
The Montoneros demanded ransom and labor concessions from Bunge and Born after abducting brothers Jorge and Juan Born last Sept 19. A staged goods distribution in 60 locations aimed to pressure payment, with ads in European and Argentine papers. A company manager and chauffeur were killed. another executive Alfredo Margarite was later released after undisclosed sums. The group linked to revolutionary socialism and clashed with Marxist Leh in a tense Argentine crisis.
MENTIONED IN THIS ARTICLE
Brazil
Bunge
Borne
Born
Jorge
Juan Born
The
Montoneros
Juan Domingo Peron
Eva Duarte
Born Brothers
Bunge and
Alberto Bosch
Juan Carlos Perez
Alfredo Margarite
Margarite
People’s Revolutionary Army
John Patrick Egan
U.S
Cordoba
Egan
FEA Probes and Auditor Reflections on Compliance
In a Dallas region session, FEA auditors and officials discussed progress in rule development and enforcement. Mitchell, now with IRS, described auditing smaller producers and gas plants via Yellow Pages searches, while Tippit and Moreno noted Washington contact limits and the need for clearer goal setting and improved communications within the FEA.
MENTIONED IN THIS ARTICLE
Zarb
Mitchell
Internal Revenue Service
FEA
Dallas
Kennedy
Washington
Ralph Tippit
Carlos Moreno
Rome industrialist freed after 11 days in kidnap scheme
Amedeo Ortolani, 36, president of Voxson in Rome, was released Friday night after 11 days in captivity. The family paid a ransom. police said no figure was disclosed and Ortolani was unharmed. He was abducted June 10 by two men posing as police.
MENTIONED IN THIS ARTICLE
Rome
Amedeo Ortolani
Ortolani
Voxson
Italy
Court blocks bus fare hike in Marin County
A Marin County Superior Court judge blocked planned bus fare increases set to take effect July 1 for the Golden Gate Bridge District. Judge E Warren McGuire granted a writ of prohibition after a request by Joel Shawn, special attorney for Corte Madera.
MENTIONED IN THIS ARTICLE
San Rafael
UPI
Marin County
Golden Gate Bridge
E. Warren McGuire
Joel Shawn
Corte Madera
Market Rebound Fueled by Slower Inflation and Higher Demand
The report shows inflation halved, spendable income rising, and orders for durable goods up for a second month. Dow Jones added gains to close higher as analysts link the stock surge to brighter economic prospects. Inflation remains below year-ago levels despite mixed price movements. Government tax cuts boosted take-home pay, while durable goods orders rose 1.4 percent. A regional price index for Orange and Los Angeles counties hit a record 156.9, with 0.8 percent monthly inflation and 11.8 percent yearly. A nationwide rail strike was averted for 30 days, and steel industry outlooks remained cautious as demand is expected later in the year.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Commerce Department
Orange
Los Angeles
Federal Bureau of Labor Statistics
May
Detroit
Wilson & Co
Omaha
House votes to pass buyer incentives amid veto override debate
In a 253 to 155 House vote lawmakers approved a bill offering home buyer incentives and foreclosure protections. The tally fell 19 votes short of the two thirds needed to override a veto as Democrats, including some new members, faced leadership pressure. Crocker Bank announced a rate hike from 4.5 to 5 percent on regular passbook savings accounts.
MENTIONED IN THIS ARTICLE
Ford
House
Albert
Democratic
San Francisco
UPI
Crocker Bank
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Yellowstone National Park
FEA Probe
Rockwell Cools
Admiral
Your Ana
Pete AL
Willow ST
Long Beach
Lakewood Blvd
Labor Department
U.S. Steel Corp
Crocker
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