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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 24, 1980
Page
1
Washington AP reports consumer prices increased 0.9 percent in May matching April and well below the pace from January to March 1980. If sustained, annual inflation could reach 10.9 percent, though economists foresee possible improvement to 8 percent or less by year end as rates fall and recession persists.
A government panel approved a $500 million guaranteed loan to Chrysler with backing for an additional $1 billion in future financing. The decision occurred after delays due to banks’ concerns during a worsening recession and amid the plan to roll out Chrysler's new K car to compete with imports.
The Democratic Platform Committee in Washington unanimously endorses a proposal to retire nuclear power plants as alternate fuels become available, framing it as a phased, orderly exit though without a deadline. President Carter supports continued nuclear role, stressing its viability for U.S. energy needs amid broader party divisions.
Utilities show 4.8 percent and 2.5 percent increases for natural gas and electricity, while heating oil falls 0.1 percent. Rents rise 1 percent and new car prices up 1 percent despite rebate programs. Auto financing costs climb 4.3 percent and public transit costs rise 1.5 percent, with airlines and intercity trains most affected.
The seven major industrial democracies endorsed a plan to boost non oil energy by 1990 and cut oil imports, but the communiqué offered no per nation targets. They pledged to double coal use by 1990 and aim to raise non oil energy supply by 15 to 20 million barrels daily over a decade, reducing oil dependency.
A witty remark suggests that more happy marriages could occur if men could fool their wives as easily as they fooled their mothers. The line reflects social norms and humor about family dynamics in a historical context.
Daingerfield Texas residents learned new details about Alvin Lee King III who is charged with five murders and ten counts of assault with intent to murder after a gunman opened fire at First Baptist Church. King, 45, remains in critical condition. Earlier court records show his father died in a 1966 accidental shooting involving a .12 gauge shotgun during a family gun examination, a case ruled accidental by local authorities.
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