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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Jul 08, 1982
Page
19
Fragmentary OCR item from a historical page notes a school activity for year three students in physical education. It mentions the program and a few readable terms but lacks complete details about participants, dates, or outcomes.
The dollar eased after sharp gains, bullion prices rose, and USD/yen reached 259.60 in Tokyo. London gold dealers fixed at 310.85, while Hong Kong gold fell. silver traded at 5.71 in London. FTC data requests target major telcos, and antitrust rulings affected The Times and Russell Stover. Contemporaneous reserve accounting delays, Korea Japan aid talks narrow to 4 billion, and Telefunken cash-short measures loom. Diamond Shamrock to acquire Sigmar for 160 million in stock and cash. VWto release Rabbit GTI in 1983.
The Syracuse Chamber hosted a working luncheon at the Waldorf-Astoria to publicize a $3.2 million four year Greater Syracuse industrial promotion plan. About 22 of 75 invited editors attended with several walk-ins joining as officials from Bristol Laboratories Onondaga County and city leadership described aims.
Commerce Secretary Malcolm Baldrige warned that quotas and restraints on imports will not revive the U.S. steel industry. He blamed the weak economy and low productivity, not imports, for industry woes, while noting global productivity has caught up. He cited cuts in management pay as signs of industry efforts to improve.
Crucible Specialty Metals Division in Syracuse has prepared a descriptive four page brochure on its new cobalt-free super high speed steel. The brochure highlights advantages for toolmakers and tool users and compares the product with chemical analyses and performance charts on wear resistance grindability and toughness.
The SEC signaled no enforcement action for S&Ls moving into brokerage and investment advice via a new INVEST plan led by Coast Federal, California Federal, City Federal, and Perpetual American. Pilot programs expected in September amid industry opposition and state approvals, with sponsors totaling 21 thrifts and 400 interested.
U S consumers increased installment debt by 1 4 billion in May the largest monthly rise in eight months led by a 959 million jump in auto loans The Federal Reserve report shows total new installment debt at 29 2 billion up 1 7 percent from April while revolving credit rose 537 million The data cover short and medium term credit and exclude long term home loans Seasonal adjustments were applied to all figures
This critique argues unemployment harms families, retailers, and entire industries, chilling incentives and fueling social strife. It links lost tax revenue, larger deficits, and damaged national image to defaults on mortgages, bankruptcies, and strained public services. It notes selective political dismissiveness toward working women and single mothers bearing hardship.
The piece argues unemployment is not a personal burden and calls for reviving active employment policy. It cites stalled postwar innovation in jet aviation and space, high interest rates crippling construction and auto sectors, and proposes loans to new industries, space industrialization, and revival of the Reconstruction Finance Corp to fund modernization and job creation. It questions whether current stance serves all Americans in 1982.
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