FTC urged antitrust suit against top cereal firms
FTC staff urged a landmark suit against Kellogg and General Mills to break up oligopolistic control of the cereal market. The agency’s five commissioners were to decide within a month whether to file, with Kellogg, General Mills, and Post making up most of a $900 million annual business. The study cites high ad spending and profits as inflating cereal prices by 15 to 26 percent and notes that the three firms hold about 83 percent of the market, locking out rivals.
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Federal Trade Commission
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Shire
Reagan Budget Speech Draws Mixed Praise In California
In Sacramento Governor Reagan outlined a plan to fund a seven billion dollar state budget with one hundred million for new school and state employee pay, claiming no tax increase through shifts to a broader based tax. Democrats assailed the plan while Republicans praised it as concise, even as questions linger about financing and economic projections.
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Leegislators
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California Assembly Proposes Budget and Reforms
AP reports in Sacramento on proposed measures including 30.8 million for state employee salaries and fully paid health insurance, uniforms for patrols, and bilingual contract requirements. Other items include tax deductions for child care, limits on political solicitations, and welfare work incentives. The governor seeks welfare tightening and education funding reforms.
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Woman Shot in Home of Professor Bohmer in Ocean Beach
Paula Tharp, 22, was wounded by a bullet at the Ocean Beach home of San Diego State economics professor Pes ter G Bohmer, 27, who was at a college basketball game. Two men fired into the residence from the street. Tharp received treatment for a right arm wound and was listed in satisfactory condition. A group called the Secret Army Organization allegedly issued threatening calls to Bohmer, and a sticker with the group's name was found on his office door. Tharp is identified as part of the San Diego Convention Coalition preparing for next summer's GOP national convention activities.
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UPI
Paula Tharp
Ocean Beach
Bill Ritter
Bohmer
Secret Army Organization
Ritter
Miss Tharp
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