Mexico faces deep recession as peso devalued again
Economist Mario Cantu, based in Washington, says Mexico's debt topples currency and fuels 60 percent inflation. With over 80 billion dollars in foreign debt and unemployment rising, Mexico floats the peso after devaluation measures. Central bank actions earlier in the year had already cut the peso by 30 percent.
MENTIONED IN THIS ARTICLE
EL Paso
Mexico
Mario Cae
Washington, D.C
Cantu
el Paso Times
Banco de Mexico
U.S. Federal Reserve Bank
Mexico peso sinks amid 40 year recession
Mexico, beset by inflation and a deep recession, sees its floating peso plunge on world markets. Early trading quotes hit as high as 90 pesos per dollar, with official rates around 49 to the dollar after a second devaluation this year. Arizona banks halt peso trading to await market clarity.
MENTIONED IN THIS ARTICLE
Mexico City
Mexico
At a Glance Park in Chihuahua Comment on Lame Ducks
The piece notes outgoing leaders must take their lumps to leave a clean slate while comparing past transfers of power. McClintock forecasts bank opening exchange rates will be unstable for days or weeks with a likely short-term jump when the peso market resumes, as Mexico tightens price controls.
MENTIONED IN THIS ARTICLE
Park
Chihuahua
NEW York
Gulf Oil
Cities Service Co
New York Stock Exchange
Peso Devaluation Foreseen After Election Says McClintock
Wayne McClintock, publisher of The Mexico Report in El Paso, notes the peso’s devaluation was not surprising and could occur with a sudden jolt now that the election is over. He serves as marketing director for Las Americas Industrial.
MENTIONED IN THIS ARTICLE
Wayne McClintock
el Paso
Mexico
McClintock
Las Americas Industrial
Explosion at Ohio fireworks plant kills three
An explosion at a Chesterville, Ohio fireworks company building Friday killed at least three people. Sheriff Tor Harden said investigators found parts and identified one victim, with two or more still missing. A hospitalized woman was injured, and authorities warned the cause and scope of further blasts remained under review.
MENTIONED IN THIS ARTICLE
Chesterville
Ohio
Tor Harden
John Harbaugh
Morrow County Hospital
Mount Gilead
Harden
Undercover Agent Testifies in Bonanno Family Trial
FBI agent Joseph Pistone testified at the federal trial of five Bonanno family members that he paid money to defendant Benjamin Lefty Ruggiero over an extended period. The defense labeled the operation as absurd and improbable.
MENTIONED IN THIS ARTICLE
New York
FBI
Joseph Pistone
Joseph Bonanno
Benjamin
Lefty
Ruggiero
Odessa American misspelt line and delivery note
A fragment from the Odessa American shows erratic type with mailing address details and subscription information. The garbled text mentions a postage rate, second class matter, and home delivery details, reflecting a publisher notice rather than a news item.
Weather Outlook Odessa Area With Hot Highs And Cooler Nights
Partly cloudy conditions expected in Odessa with mid-90s daytime highs and cooler mid-60s nights. Across Texas temperatures topped 100 with readings from 104 in Waco to 88 in Amarillo and Dalhart as scattered clouds brought rain and a drop in readings. Scattered thunderstorms likely from the Panhandle to Central Texas by Saturday with cooler temps expected in eastern areas. National Weather Service Midland data show Friday's high 97 and low 69 with no rainfall in the last 24 hours.
MENTIONED IN THIS ARTICLE
Odessa
Texas
Panhandle
Waco
Amarillo
Dalhart
Big Bend
National Weather Service
Midland Regional
Permian Faces Emission Tests and Legal Trials
Permian from 1A details Air Control Board planned testing of the revamped plant for emissions at the first opportunity. Plant manager Lee notes uncertainty about the shutdown cost and its impact. Meanwhile, the state suit against Permian Chemical and Dorchester Gas is set for trial on December 6, with separate civil suits consolidated for trial and still pending.
MENTIONED IN THIS ARTICLE
Air Control Board
Lee
Permian Chemical
Dorchester Gas
Mistrial Declared In Shipman Case Amid Deadlock
After jurors reported misgivings and a juror changed vote, a mistrial halted sentencing in Shipman’s trial. The state may retry on aggravated assault pending decisions on two attempted murder charges from the car bombing and two more cases, with DA Mike Holmes pledging a future trial for the Odessa High School student.
MENTIONED IN THIS ARTICLE
McKim
Shipman
Jeanette Daniel
David Daniel
Daniel
Ector County
Mike Holmes
Holmes
Odessa
Frionan
Studio copter crash kills Vic Morrow and children
Federal investigators said debris from a special effects explosion struck the helicopter, hitting its tail rotor and causing the crash that killed actor Vic Morrow and two children. An NTSB official urged caution on cause. Warner Bros and others face fines for child labor violations amid multi million lawsuits from the Chen family and Morrow’s daughters.
MENTIONED IN THIS ARTICLE
Los Angeles
Vic Morrow
Don Liorente
National Transportation Safety Board
State Labor Commission
Warner Bros
John Landis
Chen
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Jose Lopez Portillo
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Nixon Appeals For
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Ralph Nader
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de Gores
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