Greenspan warns on quick fixes as U S economy struggles
Fed chair Alan Greenspan told Congress the U S recovery has faltered due to a heavy debt overhang and strained banks. He cautioned against rapid tax cuts or deficit expanding measures, urging long term stability and productivity policies while noting potential further rate cuts but with inflation guardrails. The testimony accompanied White House criticism that recession persists despite optimism claims.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
U.S
Congress
Greenspan
Omy
America
Bush
GM shutdown another blow to Dayton area
The Dayton region faces further economic strain as GM may close its Moraine suburban plant after announcing a possible shut of the Ohio facility employing about 3,200 hourly workers. The report cites unnamed sources and notes broader layoffs and plant restructurings at GM headquarters in Detroit.
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Dayton
General Motors Assembly
Moraine
Detroit Free Press
Ohio
Arlington
Texas
Regional impact as GM plants face uncertain future
General Motors in North America runs a plant with about 3,400 workers while AT&T may take over MOD Mane Anne Depres ech region, prompting concern over job losses. Wright Patterson AFB plans early retirements for 1,100 of its 30,000 staff, and local leaders warn that closing the Mound plant could slash Miamisburg income tax by roughly 21 percent for a 15,000 resident city.
MENTIONED IN THIS ARTICLE
MOD Mane Anne Depres Ech
At&t
Miamisburg
Don Lucas
No Fresh Cranberries For Christmas Says Ocean Spray
Washington reports no fresh cranberries for Christmas despite a bumper fall crop. Ocean Spray spokesman Christopher Phillips cites weather reducing fruit longevity, with bulk Thanksgiving demand met but fresh berries unavailable. canned products remain plentiful while experts suggest freezing as a substitute if possible.
MENTIONED IN THIS ARTICLE
Washington
Christopher Phillips
Ocean Spray Cranberries Inc
Phillips
Massachusetts
Ocean Spray
Kemp Minifie
Gourmet Magazine
Betty Brown
Korpinen Cranberries Inc
Middleboro
Mass
Noriega defense delayed over DEA documents judge grants delay
U S District Judge William Hoeveler granted Manuel Noriega’s lawyers more time to prepare after last minute DEA intelligence reports were disclosed. The delay pushes opening statements to January 6 after the holiday recess as defense studies the DEA materials and plans to question agents. Prosecutors rested after three months and 46 witnesses, including traffickers who secured sentence reductions. Rubino said the documents form the backbone of the defense’s case.
MENTIONED IN THIS ARTICLE
Noriega
DEA
Miami
Manuel Noriega
U.S
William Hoeveler
Drug Enforcement Administration
Frank Rubino
Tax rebates debated as recession pressure grows
Democrats push tax cut bills to combat the July 1990 recession. Officials estimate rebate costs vary from 30 to 40 billion dollars, with the Washington Post noting a 30 billion figure. Economists warn a 30 billion infusion may have limited impact in a 5.5 trillion dollar economy.
MENTIONED IN THIS ARTICLE
Washington Post
Bush
Man Faces Jail Time Over Theft From Trust Fund
In 1985 Carje was fined 150 dollars for a bad check and, per August county prosecutor filings, allegedly stole 654 dollars from Great Lakes by moving funds from a company trust account to a special account. Prosecutors linked 32 checks to the scheme and urge incarceration.
MENTIONED IN THIS ARTICLE
Carje
Great Lakes
Tire Theft Case Trials Span Frato Family and Associates
Defense attorney Arlene Steuer urged probation for Anthony and Joseph Frato, praising their work ethic and large family ties. Michael Frato led the scheme to sell three truckloads of stolen tires and drew nine to 25 years for racketeering, conspiracy, and receiving stolen property. Christopher Frato was acquitted. William Daniel received three years probation for transporting a load to Akron. Curtis Hall got six to 25 years after pleading guilty. Tony Hamilton received six months for theft.
MENTIONED IN THIS ARTICLE
Arlene Steuer
Anthony
Joseph Frato
Michael Frato
Bedeski
George Keith
Christopher Frato
William Daniel
Curtis Hall
Ftates
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White House
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Marlin Fitzwater
Robert Stempel
Stempel
Detroit
Sheila Main
AUI Chuauhuel Ulive Va LeUtrical Workers Local 801
James Watkins
Mound
John Weiler
Center For Business and Economic Research
University of Dayton
Weiler
Robert Premus
Wright State University
Premus
Montgomery County
Carlson Marketing Group
Minnesota
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Usair
Dayton International Airport
Vandalia
General Motors Corp
Amtramck 3
North America
Wright-Patterson Air
Canada
Mexico
Michigan
Pontiac West
East
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Janesville, Wis
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Ind
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J Norm Tarrytawn
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Hoeveler
Rubino
A.C. Hudnutt
Ao Non-Toll
Ed Advertising Directaculation Mane
Arthur C. Hudnutt
A. Cooper
Hudnutt
Andrew A. Young
Arnold Miller
Drew V
Buckman
Jack E. Weaver
Gary Cozart
Arthur
Otto B Schoepfler
Phylip
Kelly
Editorial
Accent
Chronicle-Telegram
Lorain County Printing and Publishing Company
East Ave
Elyria
P.O
FROMA
Steuer
Len Tires
Akron
Michael
Tony Hamilton
Lorain
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