Official: Recession is here as economy slows
Washington reports the economy may be entering a downturn for the seventh time since WWII. Despite some signs of growth in early 1980, housing falls 22 percent from February to March and experts warn job losses could reach 1 to 2 million. Moody forecasts and Fed remarks frame the six to nine month downturn with higher oil prices and tight credit driving policy.
MENTIONED IN THIS ARTICLE
Washington
William Cox
Commerce Department
Federal Reserve
Treasury
G. William Miller
Senate Finance Subcommittee
Manufacturing, retail, and autos show weak first quarter cues
Factories operated at 83 percent capacity in March the lowest since 1978. Retail sales fell 1.3 percent in March from February and 1.6 percent from January. Auto output slid with Ford cutting plants and GM laying off 12 000 workers while 200 000 already on layoff. Bond rates rallied as prime rates fell at Chase and other banks. Unemployment rose to 6.2 percent in March with fewer jobs and tougher conditions for adult men.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Commerce Department
Ford Motor Co
General Motors
Henry Kaufman
Salomon Brothers
Chase Manhattan Bank
Labor Department
Elyria Considers Major Water Rate Hike
Two city committees back a substantial water rate increase planned for June if the council approves. The change affects Elyria and neighboring Amherst Sheffield and North Ridgeville with a new minimum and per unit charges. Outside-city customers would face higher surcharges, and leaders seek contract changes to reduce them.
MENTIONED IN THIS ARTICLE
Elyria
Amherst
Sheffield
North Ridgeville
Keys
Utilities
Joseph Grace
Motive alleged in Geiger parental murder case
Prosecutors in Cleveland claim Gordon Geiger killed his parents John and Marguerite Geiger on June 6, 1979 to take their money. In opening statements, Jack Hudson said evidence would show a money motive and that Geiger traveled to the United States to commit the murders.
MENTIONED IN THIS ARTICLE
Cleveland
Gordon Geiger
North Olmsted
Jack Hudson
Geiger
John
Marguerite Geiger
Hudson
Inno Geiger
Fraser blasts Carter as harmful to workers in Cleveland
United Auto Workers president Douglas Fraser denounces the Carter administration for worsening unemployment to curb inflation. He calls for wage and price controls, U.S. restraint on foreign trade, and insists mass layoffs will continue with little near term relief. Fraser urges Congress to act to protect workers.
MENTIONED IN THIS ARTICLE
Carter
Douglas Fraser
United Auto Workers Union
Fraser
Hollenden House
Cleveland
America
Congress
Congressional
U.S
Auto layoffs push U.S. car plants toward 300000 mark
General Motors announced 12000 indefinite layoffs and Ford 15000 layoffs, widening U.S. and Canadian job cuts in a yearlong sales slump. The combined effect raises total layoffs among the big three to over 300000, with Canada and suppliers affected and February signs of a brief sales upturn failing to hold.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Ford Motor Co
Ford
U.S
Columbia man gives away bumper stickers to oppose Carter
James Clemens of 12264 N Boone Road in Columbia Township is distributing free bumper stickers reading Anyone but Carter in 81. He spent about 14000 on the project and plans more stickers after the first 5000 are handed out. Clemens, a Paramout Supply Co. manager and hospital trustee, says he is not active in partisan politics.
MENTIONED IN THIS ARTICLE
Columbia
Carter
James Clemens
Boone Road
Clemens
Paramount Supply Co
North Boynton
Southwest General Hospital
Berea
Paramoent Sepp Ce
North Rayan
Mark
Weather outlook with clear tonight and mild Friday
Moderate clear conditions with a low in the mid 30s tonight and highs near 60 on Friday. A 20 percent chance of rain remains for tonight and Friday. Winds from the south to southeast at 5 to 10 mph. Sunrise 5 54 a.m. Sunset 7 10 p.m. Details on Page D I.
Also Mentioned on This Page
Nancy Teeters
Federal Reserve Board
Richard Pfloum
West River Road
Gene Krebs
Michael B. Keys
Cindy Leisect
By Tom Ford
C-T
UAW
Datsun
Ohio
Canada
Nies
Sunday Chronicle Telegram
Sam
the People Television
Doctor
Wellington
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!