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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 30, 1975
Page
1
A financial forecaster explains that analysis relies on past trends and human behavior. He traces origins from survival to savings to earning returns, framing capitalism as a productive system with cycles, and contrasts it with socialism where government owns production. TURN TO PAGE 6, COL. 1
Babson's Reports forecast for 1975 noted a recession rather than widespread gloom and argued recovery would be gradual. It projected 1976 real GNP up about 4 percent from 1975, with the first quarter strongest and a cautious, nonboom pace for the year as inventories and debts recede but major upswings unlikely.
A AC-T survey of industry leaders and workers shows cautious optimism for 1976 as indicators improve. Early 1975 saw high unemployment in Lorain County at 10.2 percent, factory output at decade-lows, rising prices, and weak housing. Later in the year automotive output rose, unemployment fell, and Christmas spending turned positive.
At Spring Valley Country Club Elyria swore in its first mayor from the Republican party as Peg Bowman danced with her husband Bob Bowman. The crowd included Senator Taft and former mayors while The Notables played swing tunes and guests enjoyed a buffet and cash bar.
A bomb at LaGuardia Airport killed 11 and wounded about 75 in a TWA baggage area. Eyewitnesses described a grisly scene with body parts, while the FBI linked bomb threats to other airports. President Ford ordered a federal probe as air traffic delayed and flights rerouted to Kennedy and Newark.
Cloudy conditions with a 40 percent chance of rain tonight and 20 percent tomorrow. Lows around the upper teens to 30s and highs in the upper 30s. Winds light and variable. Sunset today 5 06 p m and sunrise tomorrow 7 53 a m. High 29 at 1 45 a m yesterday’s low 18 at 8 a m.
Two French merchants carrying Washington’s recommendation letter were admitted to Congress to discuss supplying the colonies with arms and materials without French government approval.
A humor item jokes that no customer is worse than no customer, portraying a salesman’s creed that emphasizes constant pursuit of buyers and lighthearted retail perseverance.
The U S Postal Service raises all mail rates with a 30 percent jump for first class letters to 13 cents per ounce. The new rates take effect after midnight, pending permanent decisions by the Postal Rate Commission expected by June. A Cleveland postal spokesman said deadlines may avoid charges if mail was dropped before the cutoff.
Eddie Goodwin will be tried in Sandusky Erie County on complicity in the theft of more than 420 000 tied to former deputy Anthony J Marsho. Judge Paul J Mikus granted the venue change moving the case from Lorain to Erie County with trial expected after Jan. 19 due to crowded dockets. Goodwin denies involvement, saying Marsho used him as a fall guy.
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