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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
May 29, 1975
Page
1
The Commerce Department reported its leading indicators index rose 4.2 percent in April, the sharpest monthly gain on record. The rise follows a 1 percent increase in March, marking two consecutive monthly gains for the first time since last year, signaling a possible end to the recession.
President Ford met with six NATO leaders in Brussels and outlined U.S. mediation aims in Cyprus and the Middle East. He held 11 hours of talks, stressing no quick solutions and signaling efforts to lift arms embargo on Turkey while seeking peaceful progress with Greece. Ford also planned talks with Egyptian President Sadat in Athens and Rabin in Washington later.
Mayor Abraham Beame is to present two budgets to the City Council and Board of Estimate. One is a balanced 12.8 billion expense plan backed by new state aid and taxes, the other a crisis budget reflecting drastic reductions if state aid fails. Economists note early signs of recession bottoming with productivity up and leading indicators improving, yet warn against overreading a single metric.
Hundreds of striking California doctors resume work after a month of limited care as state officials and doctors hinge the return on a new insurance pool to provide affordable malpractice coverage. The agreement centers on a law empowering Insurance Commissioner Wesley Kinder to set up the pool in high-rate counties.
Albany lawmakers expect firm rate schedules by tomorrow for the doctor run malpractice insurer licensed by the state. The mutual company approved Sunday by the Medical Society's House of Delegates gained licensing from the Insurance Department, opening the door for policies that may undercut private rates. Governors aides plan a Wednesday Capitol meeting with medical leaders to broker a settlement as the July 1 start date approaches. Senator Tarky Lombardi, architect of the plan, pressed Carey for talks to avert work actions amid changes to non profit policies and disciplinary procedures.
The National Weather Service at Hancock Field says clear skies will fade to variable cloudiness tonight with lows in the upper 50s. Tomorrow brings more cloudiness and a 20 percent chance of rain tonight increasing to 50 percent tomorrow. highs near 75 to 80 degrees.
Former North Carolina governor and Duke University president Terry Sanford declares his candidacy to challenge George Wallace for the 1976 Democratic presidential nomination. He vows a bold campaign and administration to revive the radical promises of the American Revolution and put people first.
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