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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 07, 1995
Page
1
The dollar nosedived to a third straight record low against the yen and fell versus major currencies as U.S. authorities held that no rate hike was needed. Analysts noted potential coordinated currency action only to keep the decline orderly while avoiding market alarm.
Midland Texas Railroad Commissioners discussed proposed oil and gas incentives to be sent to the Legislature. Chairman Barry Williamson said the plan would cost the state nothing to implement and help restore treasury revenues from oil and gas. Some incentives may reduce revenues but others would raise production, with aims to revive inactive wells, discover new fields, and profit from hard to produce natural gas.
Elbert Lewis, an 80 year old Odessa resident and World War II veteran born November 11 1914, received a Selective Service notice misidentifying him as an 18 year old. He mailed proof of age and honorable discharge, and officials removed him from the list. Lewis earned a Purple Heart after being exposed to gas from a Japanese plane incident during the South Pacific war.
Washington AP reports the House faces a clash over business backed reforms to curb civil lawsuits as part of the Contract With America. Backers say measures curb frivolous suits, while critics warn of unfair burdens on consumers and a favored Wall Street interests stance. The issue features a heated lobby campaign with trial lawyers and corporate donors shaping the debate. The package aims to ease defense in product liability and securities fraud cases, set federal limits on punitive damages, and push out of court settlements under a modified loser pays system. A separate push seeks term limits for lawmakers, likely doomed, as welfare overhaul and tax cut efforts loom.
NEW YORK AP reports that since his 1975 neck injury Bob Recine slowly progressed from inches to 800 feet with crutches. A 40 minute trek hints at a spinal cord nerve circuit that can produce stepping independent of the brain. If confirmed, it could aid some spinal cord injuries.
The Clinton administration proposed changes to the Endangered Species Act to ease economic impact, exempt small landowners, require more scientific proof to list species, and expand state and local roles. Interior Secretary Babbitt defended the plan against GOP efforts to curb protections.
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