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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 29, 1983
Page
1
The author traces financial behavior from early savings to modern capitalism and explains it as a productive system prone to cycles. He predicts 1984 will show continued recovery with a gloomy first quarter of 1983 and gradual improvement in subsequent periods, though gains may be modest.
The Babson forecast argues 1983 will show stronger business than late 1982, citing lower inflation and interest rates, cost cuts, productivity gains, inventory reductions, and strengthened finances as signs of a healthier economy. Early 1983 data hinted improvement, with a later surge expected in personal consumption.
Lorain County forecasts show modest 1984 rebound led by improving auto and home sales. Unemployment may ease from 14 percent, aided by confidence and steady rates. Car sales through December 10 rose 30 percent from 1982, reaching 12,066 units, with dealers optimistic despite fewer financing programs.
Elyria Memorial Hospital will indefinitely lay off about 100 employees including up to 80 nurses due to declining admissions. Admin James Brown said room charges will remain at 249 dollars for semi private and 257 dollars for private rooms this year despite rising supply costs. Staff notification began this week after admissions dropped from 13,143 in 1982 to 12,460 in 1983 and occupancy fell from 72 percent to 66 percent.
Washington The Long Commission released a highly critical report on the Beirut bombing that killed 241 U.S. troops and questioned President Reagan's decision to deploy Marines. It urged reassessment of U S objectives and a more aggressive search for diplomatic options, warning of ongoing danger to U S forces. Reagan accepted blame for the tragedy and ordered discipline spared for officers. The panel urged a comprehensive review of military options by the NSC and military leadership.
Partly cloudy and cold with scattered flurries tonight. Low near zero. Friday stays mostly cloudy and cold with highs around 10 to 15. Snow chances 40 percent tonight and 20 percent Friday. Details on Page A-3.
Dennis Wilson of the Beach Boys drowned at Marina Del Rey California at age 39. William Demarest longtime My Three Sons actor died in Palm Springs California at 91 from an apparent heart attack. Jimmy Demaret Masters champion died in Houston Texas at 73 from an apparent heart attack.
The narrator dreams of the old Press and Louie Clifford, dead for 15 years, in a shifting newsroom that no longer uses proofs or pencils. A female city desk editor replaces the old desk, computers replace manual fixes, and deadline pressure collides with a ghosts’ presence and the futility of changing past stories.
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