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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jan 05, 1985
Page
1
In Cleveland an armed woman seized seven hostages on a Pan American jet after a six hour standoff. SWAT teams stormed the plane at last light. all hostages were released unharmed. A mother and 8 month old baby were treated as precautions. The abductor was wounded and hospitalized.
State Comptroller Bob Bullock previews a no growth 1986 87 budget plan detailing over 1 billion in needed revenue. Declining oil prices cut oil tax and sales tax, reducing state funds and prompting revised shortfall estimates from 640 million to 469 million. Speaker Gib Lewis notes sweeping agency revenue adjustments.
Occidental Petroleum Corp and Diamond Shamrock Corp said they are discussing a possible business combination that would form the nation's seventh largest oil company. Directors will meet Monday to consider the proposal and a further announcement is expected shortly. Diamond Shamrock rose to $21 while Occidental fell to $29 as trading resumed after suspensions.
Governor Mark White urged a credits backed program to finance a Texas water plan costing up to 42b over twenty years. The proposal would add 600 million to the water development fund and authorize 250 million in state credits to back local water bonds, needing a constitutional amendment and public vote. Conservation, research and coast protections are included as starting points for legislative debate.
Ector County Tax Assessor-Collector Lea Taylor said polygraph tests could become a condition for employment after clerk Lea Taylor was arrested for felony theft involving 1899.99 dollars. Lisa Cotton, 22, is free on a personal recognizance bond and worked as a cashier in auto registration. The case highlights concerns over security in the tax office.
TED figures show registrations near 312 in November 1984 and 350 in December 1983. Kasko foresees higher first time jobless filings in January due to seasonal furloughs but expects Odessa's unemployment rate to stay around 4.2 percent. New Year snowfall in the Permian Basin caused minimal disruption to law enforcement and agencies with 0.01 inches of rain and about half an inch of snow reported by the Midland airport.
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