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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 20, 1979
Page
13
Prices edged lower in New York trading as rates climb sparked concerns about higher borrowing costs. The Dow Jones average fell 218 points to 881.23 while declines and advances on the NYSE kept near balance amid fears of further rate hikes after a record-tying 12 percent prime lending rate last week.
In Naples Italy doctors reported slight improvement for three of eight surviving girls born to Pasqualina Chianese aged 29. The 4 day old babies Anna Silvana and Valentina gained color and began taking powdered milk via tubes as they remained in serious condition with improving survival chances.
In Kenya's Great Rift Valley a collision between a wedding party bus from Nakuru and a coffee truck triggered a multi vehicle pileup. At least 44 people died and dozens more were hospitalized as rescuers search wreckage for victims and more bodies buried under spilled coffee sacks.
A reader questions selling four S&L stocks amid rate uncertainty. Sargent notes S&L shares trade near highs due to merger appeal, suggesting partial sells, and highlights at least one holding as a potential acquisition target. He advises trimming to 15% portfolio and considers moving $10,000 from Chemical Fund into a no-load bond fund for income.
A Dartnell Institute study of 300 personnel directors shows 70 percent struggle to attract full-time workers. About 84 percent use permanent part-time staff, with mothers and students forming the largest groups. Fringe benefits like vacation and sick leave are common.
UAW officials weigh targeted one to two day walkouts at GM parts plants as pressure to renew local bargaining, with national strike plans set for Aug. 30 and Sept. 14 contracts expiry. Bluestone says no final decision and actions would not affect national strategy.
Ford Motor Co describes its 1980 Lincoln Continental line with a 5 liter V eight and four speed overdrive transmission claimed to improve fuel economy by 38 percent. The Town Car model achieves EPA ratings of 16 miles per gallon in city driving versus 12 mpg for the 1979 version.
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