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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
May 22, 1985
Page
23
A reflective piece traces the rise of double digit inflation and interest rates in the early 1980s, then notes a shift as inflation and rates ease. It contrasts past despair with current gains in stocks and incomes, while warning structural deficits and global competition may reframe the recovery.
Rita Cut ofane, mail classification manager at the Syracuse Postal Service, was named Federal Woman of the Year at the fourth annual awards banquet by the Federal Women's Task Force of Syracuse. Nominees were chosen for promoting women's goals, career achievements, professional involvement, and community service.
James H. O Connor is listed as executive business editor for the publication, with a contact line marked 470 2297. The page identifies him in a staff masthead context and notes his role within the business news section.
Private analysts warn that the 0.7 percent first quarter GNP rise signals a deeper slowdown than earlier estimates. Inflation remains tame at 0.4 percent in April while the dollar weakens industrial demand. Officials predict a rebound later but many economists now view full year growth at 2 to 3 percent rather than near 6 to 8 percent.
Trans World Airlines says its board will give due consideration to Carl Icahn s 600 million offer for the portion of the company his group does not own His group already controls about a quarter of TWA stock and has raised its stake through purchases and disclosures The airline has sued to block further stake increases and urged stockholders to await the board s recommendation
In the Syracuse region 271 buyers applied for 10 percent down 30 year SONYMA mortgages. About 5 percent down and 30 year terms, with $5.2 million allocated for existing homes and flexibility to fund 165 to 130 mortgages. Total statewide requests hit $ positions and construction funds earmarked. SONYMA shifts to income ranking to reduce lines, extending location submission deadlines and highlighting rising demand for affordable financing.
ECG Ing to idle 126 employees in Ottawa Ohio, with 15 more affected as Philips consolidates vision tube production. Plant manager John D Webster says 16 workers to be laid off in June, as third shift ends. Earlier March actions trimmed 280 jobs, plus 23 more on March 28 due to a separate carbon tube issue.
At the Statehouse Rotunda 500 Home State Savings Bank depositors cheered as lawmakers approved a bill reuniting their money Linda Swenski and her husband embraced in relief Mrs Swenski said about 6000 is tied up for their son Shetr cinid's college education Sen Donald Lukens vote shift sparked cheers and Celeste thanked him for support as the bill became law Celeste prayed for guidance and thanked the good Lord for the passage
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