Federal regulators ease home buying with new thrift rules
Federal Home Loan Bank Board preliminarily approves sweeping rules to aid first time buyers and boost thrift competition with banks. Proposals cut down payment to 10 percent, remove loan dollar caps, allow second mortgages, authorize nationwide lending, extend mortgage terms to 40 years, and lift home improvement loan limits. Also permits certain consumer loans and investment in corporate paper. Public comment 60 days. final decision possible by October. June factory orders slip modestly. Chrysler posts $536.1 million Q2 loss. $300 million federal loan guarantees approved.
MENTIONED IN THIS ARTICLE
Washington
UPI
Federal Home Loan Bank Board
Congress
U.S
Savings and Loans
Chrysler Corp
Chrysler Loan Guarantee Board
Great Lakes ports face shrinking world trade says official
Samuel Riccardi of World Shipping Inc. warns that high costs and low volume threaten Great Lakes ports with reduced role in global shipping. He cites containerization limits, cost of large ships, and lack of year round volume, urging consideration of ocean ports for bulk cargo while noting coal export may grow due to East Coast congestion.
MENTIONED IN THIS ARTICLE
Huron, Ohio
Great Lakes
World Shipping
Samuel Riccardi
World Shipping Inc
Cleveland
Council of Lake
Ricciardi
St. Lawrence Seaway
Lakes
Lakes Ports
Geat Lakes
Chrysler sees turnaround despite record quarterly loss
Chrysler reports a 536.1 million loss in Q2 and 985 million year to date, the largest quarterly loss by a U.S. automaker. Iacocca cites K car progress, Peugeot engine deal, and 800 million in government-backed funds as factors for a potential rebound, with production planned at 180,000 units this year. George F. Kimbel, Elyria native and Prout Chevrolet salesman, marks 55 years in the auto business.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
U.S
Chrysler
Lee A. Tacocca
Ford Motor Co
U.S. Steel Corp
Iacocca
Tacocca
Peugeot
St. Louis
George F. Kimbel
Kimbel
Elyria
EHS
Prout Chevrolet
Wall Streeters enjoy boom times on Wall Street
Wall Street firms report record profits and a booming stock market with Dow peaks and 7 billion shares traded this year. Brokers praise rising commissions and mutual funds while investment banking gains surge May and June. Jerry Rubin joins John Muir & Co. as a security analyst amid a hiring upturn.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Jerry Rubin
John Muir & Co
Kennedy questions oil market rigging in 1979 gas shortage
Senator Edward Kennedy questioned the DOE and DOJ findings that major oil firms did not cause the 1979 gasoline lines. He sent private letters July 18 to Attorney General Civiletti and Energy Secretary Duncan, urging responses to discrepancies in the reports and calling for clearer explanations for the shortages.
MENTIONED IN THIS ARTICLE
Washington
UPI
Edward Kennedy
Massachusetts
Democrat
Benjamin Civiletti
Charles Duncan
Kennedy
Duncan
Private Hopson Completes Fort Jackson Training
Pvt. Troy J. Hopson, son of Mrs. Rita Hopson of 1151 Fifth St Lorain, has finished training at Fort Jackson South Carolina.
MENTIONED IN THIS ARTICLE
Troy J. Hopson
Rita Hopson
Fifth St
Lorain
Fort Jackson
S.C
Grain price report from Ohio elevators 4.16 to 7.37 per bushel
UPI reports Ohio cash grain prices after Thursday close and Friday open for Northeast Northwest and Central regions. Northeast wheat 4.16, shelled corn 3.07, oats 1.70. Northwest wheat 4.22, corn 3.07, oats 1.59, soybeans 7.37. Central wheat 4.15, shelled corn 3.07, oats 1.75, soybeans 7.25. Lorain County Farm Bureau Coop lists yesterday's closes: wheat 4.19, corn 3.12, oats 1.75, soybeans 7.25.
MENTIONED IN THIS ARTICLE
Columbus
UPI
Ohio
Northeast Ohio
Northwest Ohio
Central Ohio
Lorain County Farm Bureau Cooperative Association, Inc
Marines Cpl Padgett in Virginia air combat training
Marine Cpl William D. Padgett son of Thomas J. Padgett and Debra Padgett of Strongsville recently participated in three weeks of air combat training at Oceana Naval Air Station Virginia Beach with Marine Fighter Attack Squadron 115. He joined the Marine Corps in 1977. His wife Debra and Penny Turk also have military connections. 1st Lt. Joel B Turk earned the U S Air Force combat readiness medal at Ellsworth AFB South Dakota. Penny Georgetown Ave has earned the Air Force basic air traffic controller badge at McGuire AFB New Jersey.
MENTIONED IN THIS ARTICLE
Marine
William D. Padgett
Thomas J. Padgett
Prospect
Strongsville
Virginia
Marine Corps Air Station
Beaufort
S.C
Oceana Naval Air Station
Virginia Beach
Padgett
Marine Corps
Debra
John Makad
Pike Blvd
Brook Park
Hansford Boutchyard
Loma Lane
Brunswick
Virginia Military Institute
Lexington
Penny
The
Joel B. Turk
Jerome F. Keee
King Cole Lane
Ellsweth Air Force Base
S. D
Georgetown Ave
McGuire Air Force Base
N. J
Also Mentioned on This Page
Chronicle-Teregrerm Eyrie, G
Edwin Brooks Jr
U.S. League of Savings Associations
Federally Chartered Savings and Loans
Jay Janis
Commerce Department
U. S
James V. Higgins
General Motors
Aj Moope
Pea Yan Exp
USAR
Allied Chem Cp
Bancroft
Combustion Eng
Franklin Riley
Eis
Ligoel Coyem OS
Papercraft Cp
Parges Toc Vis Purolator Inc
Sandgate Cp
Pitt
Union el Sul
United Foods
Mutuals
Union
Vanguard
Wellington
Wall
Chet Carrier
New York
E.F. Hutton
Wall Street
Merrill Lynch
Hutton
Er al
Robert Stovall
Dean Witter Reynolds Inc
Stovall
Teddy
Departments of Justice and Energy
DOE
DOJ
AlusChth
Sens
Pierre B. AsAlrt Oy
AmCan Eh
Aroerteas Machine &Ovedey Ip
Tee Lee AmnTelTel Ae
Bendix
Bellow
Hd Berstis
He Cpc International
Chrysler Cp
DePond
Fk Eastern Air ‘National Hgypsmmn Ab
Eaton Ue
Bnth Searle
G.D Co
Exxon Ath Firstne Wit Nh Ford Mi Hee
At&t
Keverttt
MeLouth
Monsen
Nabisco
Nilsteel
Ty ‘Owen
Pan Am Air
Texaco
Titeca Xervs
Zenicar
York
ICAGO
USDA
Midwest
Riteue
ORKAP
Ieee
CARR
West Ave
Aloe
Women S Work
Oxford
Great Northern
North Olmsted
RED Wing Funk
Star
Star Building Systems
Star Builders, Inc
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