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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 28, 1984
Page
1
Schoepfle explains the 1985 economy and the nature of financial forecasts. He discusses how forecasts rely on past trends, human behavior, and capital flows, outlining capitalism, business cycles, and the recovery seen in 1984 with further implications for 1985.
Babson’s 1984 forecast described a strong early year with high capacity use and solid demand that avoided renewed inflation. By mid 1984 growth cooled sharply, shifting focus from inflation fears to the risk of a recession as the economy slowed.
Lorain County economists warn 1985 will be similar to 1984 with modest gains, while Greater Cleveland shows quicker improvement. Cuyahoga benefits from diverse employment and a rebound in machine tools, as Detroit automakers trim operations, impacting auto reliant areas including northeast Ohio.
Elyria Memorial hikes room rates 9.6 percent after year start with lab radiology and operating costs up about 15 percent due to falling admissions. St John and West Shore cut semi private rates as admissions rise, while Southwest General and Fairview General also raise some daily rates. Lakewood Hospital reviews a change.
The FBI found no evidence of voter fraud in the November 6 Lorain County sheriff election. Assistant U.S. Attorney James Lynch said the case is closed and there is no basis for charges. Sheriff James Mertz, who lost to Democrat Martin Mahony by 213 votes, sought an FBI inquiry and has since filed suit to overturn the result.
Lorain Democrats nominated attorney George I. Koury Jr. to replace Ron Nahakowski after he resigns January 3. Koury topped a six candidate field at the Polish American Citizens Club with 17 of 24 votes. other contenders included Charles Chevalier Alex Olejko Fred Ritenauer Rev Peter Tower and Tony Naples. Separately in Elyria a foreclosure order was issued against Dr Leonard Faymore and coowners of the Oberlin Motel for over $60k in mortgage payments plus interest and penalties.
A January 9 meeting at the Holiday Inn ballroom will select Nabakowski's successor. Nominating petitions for the commissioner seat become available December 31 at the Elyna Board of Elections office. Candidates must obtain five precinct committeemen signatures. petitions due by 4 pm. Victor F Stewart Jr urged geographic representation, noting the Lorain area should be represented.
The forecast calls for mostly cloudy tonight with a low near 55. Saturday will be partly cloudy with a 40 percent chance of showers and thunderstorms and a high around 65. Rain probability is 20 percent tonight and 40 percent Saturday. Details on Page A-3.
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