Recession risks rise as Miller says economy too strong
Federal Reserve chairman G William Miller warned that surging late 1978 growth could hinder inflation control in 1979 and that 14.5 percent oil price hikes from OPEC raise recession risks. He expected only a half point inflation cut next year, with a potential one point reduction at most, and noted inflation around 9 percent in 1978 translating to over 8 percent in 1979.
MENTIONED IN THIS ARTICLE
Washington
G. William Miller
Federal Reserve Board
Miller
OPEC
Local sales tax rebates rise for Pecos and area towns
State Comptroller Bob Bullock reported Pecos City will receive 57 780.86 as its share of the one percent local option sales tax through Nov 30 up from 49 563.42 last year. Balmorhea, Toyah and Reeves County areas also show increases. A 30-30 rifle theft was reported from a Pecos pickup, valued at 109.33. National economic notes indicate 1978 city rebates will total over 424.8 million, with major cities like Houston Dallas and San Antonio receiving sizable checks and inflationary pressures rising.
MENTIONED IN THIS ARTICLE
Bob Bullock
Pecos City
Balmorhea
Reeves County
Raul Florez
Peter Mark Ryan
Pecos
Toyah
Bullock
Texas
Dallas
San Antonio
Fort Worth
Austin
Corpus Christi
EL Paso
Comptroller’s Office
Davis murder-for-hire case heads to trial
Investigator testifies as defense hints Cullen Davis may take the stand in Houston. Prosecution notes include FBI calls and a whisper of deals to flip witnesses. defense contends the case hinges on Davis's own testimony and a convoluted conspiracy claim involving Priscilla Davis and others.
MENTIONED IN THIS ARTICLE
Mike Cochran
Associated Press
Houston
Cullen Davis
Richard
Haynes
Don Evans
District Attorney's Office
Fort Worth
Evans
John
Sal Florio
Florios
Davis
Cullen
Jack Strickland
Phil Burleson
Strickland
Karen Master
Priscilla
FBI
David McCrory
Pat Burleson
Master
Grand Jury
Texas Comptroller predicts two year state prosperity continues
Texas Comptroller Bob Bullock told the Legislature that the state’s economy will grow for the next two years though national forces may slow growth. He forecasts 1980-81 tax and other revenues at 21.2 billion with a 743.2 million balance, noting 300 million already appropriated. The new method links tax receipts to economic indicators.
MENTIONED IN THIS ARTICLE
Austin
Bob Bullock
Texas
Bullock
Treasury
Weather Outlook for West Texas and Pecos
Weather shows partly cloudy skies in Pecos with a 45 degree low after a 70 degree high. Widely scattered showers in the Panhandle and extreme southwest tonight. cooler conditions Wednesday. Highs range from upper 50s in the far west to upper 70s in Big Bend, with lows from the middle 20s in the Panhandle to around 40 in Big Bend. Wednesday highs near 50 Panhandle to low 70s Big Bend.
MENTIONED IN THIS ARTICLE
Pecos
West Texas
Panhandle
Southwest
Big Bend
Three day downpour floods Arizona prompt emergency
Widespread rain pounded eastern Arizona for a third day causing bridges to wash out and stranding motorists. About 5 000 people evacuated. At least five missing feared dead. Gov Bruce Babbitt declared a statewide emergency and ordered the National Guard into action. A bridge collapse on I 17 over the Agua Fria River sent a camper downstream. A man swept into Salt River near Temple. Dozens stranded in Windslow area. helicopters unable to reach them. Two isolated near Kearny with a construction vehicle in the Gila River. A Phoenix couple missing after traveling to Flagstaff to cut Christmas trees. Authorities say people are screaming for help.
MENTIONED IN THIS ARTICLE
Phoenix
Ariz
Arizona
Bruce Babbit
Arizona National Guard
Agua Fria
Here
Allan
Gila River
Kearny
Texas nuisance law partly struck down in obscenity case
A federal appeals court in New Orleans ruled that Texas nuisance law cannot use its injunction power against obscenity and pornography. The 5th Circuit remanded the case involving King Arts Theatre in San Angelo to determine legal fees for the theater’s attorney.
MENTIONED IN THIS ARTICLE
New Orleans
San Angelo
Texas
5Th
U.S. Circuit Court of Appeals
King Arts Theatre
King Arts
5Th Circuit
U.S. District Court
Houston
King Art
Also Mentioned on This Page
Organization of Petroleum Exporting Countries
United States
Ash
Xavier Rivera
Pecos Evening Optimist Club
Rayiond Minjares
Robert Hinojos
Karen
McCrory
Priscilla Davis
Gus Gavrel Sr
Gavrel
Bubba
Revenue Report
Comptroller's Planning & Research Division
Flagstaff
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