Area leaders see recession-proof Lorain County economy
A Chronicle-Telegram year end poll shows 60 percent of responders expect the area economy to outperform the national trend next year with growth potential from planned projects. Elyria tax valuations rise, Republic Steel ore dock plans promise $20 million project, 50 jobs, and up to $39.6 million yearly services in full operation.
MENTIONED IN THIS ARTICLE
Lorain County
Cuyahoga
Chronicle- Telegram
Elyria
Republic Steel
Lorain
John Sulpizio
Strongsville
Walter F. Ehrenfelt
Thomas P. Ryan
Babson's Forecast Warns of 1979 Recession
Babson's Reports foresees a 1979 recession as the economic upturn, now 44 months long, weakens under inflation and high interest rates. Officials cite rates and credit tightening as hurting construction, business capital expenditure, and consumer purchases amid dollar weakness and inflation psychology.
MENTIONED IN THIS ARTICLE
U.S
Babson’s Reports
Federal Reserve
Schoepfle County Foretells Moderate Economic Growth
A 1978 forecast outlines capitalism basics and business cycles. It cites GNP surpassing $2.1 trillion, 11.5% nominal growth, 8% inflation, 3.5% real growth, unemployment dropping from 7% to 5.8%, and retail sales rising by $64 billion versus $54 billion in 1977.
MENTIONED IN THIS ARTICLE
United States
Kucinich cancels layoffs as bank delays action
Mayor Dennis Kucinich halted 1600 city worker layoffs after Cleveland Trust Co said it would defer action on 5 million in defaulted notes until voters decide Feb 27 on a 0.5 percent income tax rise and debt sale. Police and fire unions sought court relief while council members urged bipartisanship to avert bankruptcy.
MENTIONED IN THIS ARTICLE
Cleveland
UPI
Dennis Kucittion
Kucinich
Cleveland Trust Co
Cleveland Trust
Cuyahoga County
Forbes
Trade deficit hits new 1978 high amid dip in index
The Commerce Department shows November imports exceeding exports by 1.95 billion, pushing 11-month 1978 deficit to 26.74 billion, surpassing last year’s record. Separately the Index of Leading Economic Indicators fell 0.6 percent, the first drop in four months, signaling potential slower activity ahead.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Department
Jonestown Massacre Tops Yearend News Poll 1978
United Press International editors vote Jonestown in Guyana as the year’s top news story. At least 900 people, including children and the elderly, died from cyanide poisoned purple drink. Investigations reveal large drug stockpiles used to control cult members.
MENTIONED IN THIS ARTICLE
Jonestown
Guyana
United Press International
Cloudy Outlook with Light Snow Chance Friday
The forecast calls for mostly cloudy conditions tonight with a low around 18. Friday remains cloudy with a 20 percent tonight and 60 percent Friday chance of light snow and rain, highs in the mid to upper 30s. Winds become southeasterly about 10 mph tonight. Sunrise 7 53 a.m. Sunset 5 05 p.m. Details on page B 8.
Top 10 area stories of 1978 led by blizzard
The Blizzard dominates the 1978 area top stories list with the January 26 blizzard earning the No 1 spot by editors. Other major items include school financing woes and strikes in Lorain County, the Papp retrial, the Hershberger murder for hire case, the Morrison shooting during a burglary, and national events like Jonestown. The list also notes local fire disasters, arson sprees in Wellington, a Lorain County plea bargain, and Leon Spinks visiting Elyria as a lighter interlude.
MENTIONED IN THIS ARTICLE
Weather
C-T
Lorain County
Timothy Papp
Roxie Anne Keathley
James Hershberger
Michael Morrison
Kaplan Furniture
Elyria
Jonestown
Guyana
Wellington
City GOP chief paid in no-bid jobs
Cuyahoga County GOP Chairman Robert E. Hughes received 100000 in consulting fees from Ohio Refuse Energy Corp, a firm awarded 2.8 million in no-bid contracts under former Cleveland Mayor Ralph Perk. The Press tied Hughes to Mr Mystery Inc and other figures in a widening financial web.
MENTIONED IN THIS ARTICLE
City
GOP
Cleveland
UPI
Cuyahoga County
Robert E. Hughes
Ohio
Ralph Perk
Cleveland Press
Ohio Refuse Energy Corp
Hughes
Ohio Refuse
Perk
Also Mentioned on This Page
Robert Penick
Babson’s
Babson’s Reports Inc
Schoepfle County
Otto B. Schoepfle
CT Board
Otto B
Scroepfle
Jaye
Forbes and Kucinich
Michael Polensek
Pease
Mr. Mystery Inc
Common Pleas
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