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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 22, 1980
Page
7
Prices retreat on the New York Stock Exchange as Middle East fighting stirs metals, with the Dow slipping 2.99 to 960.75 in the first half hour. Gold tops $700 an ounce, silver above $23, and Asarco gains 2 percent to 50 as mining stocks delay at opening.
Judge Henry T. Webber allows a county switch moving girls from the Hazel Webber Home on Murray Ridge Road to the Stepping Stone Home for boys at 330 Third St. The move frees Murray Ridge for 20 boys and shifts 10 girls to the Third St. facility to meet Ohio Youth Commission requirements. The plan, part of a three phase juvenile program, includes a restitution program and a Big Brother Big Sister effort.
UPI reports Venita VanCaspel, author of Money Dynamics for the 1980s, argues that only about two in a hundred will retire with financial dignity. She promotes disciplined money management, tax strategies, and caution with credit cards to build independence, cautioning inflation and personal attitudes.
New York reports a flood of bankruptcy petitions after sweeping reforms in October. Consumers with modest incomes fall behind as credit tightens and inflation bites. Bankers call mills that churn clients, while lawyers defend advertising and say many debtors have few options despite not wanting to file.
A 30 foot torpedo shaped device for water supply is being shipped from Borg-Warner Byron Jackson in Los Angeles. The 890 horsepower electric motor powers a submersible pump to operate 2,000 feet below the surface, delivering water for desert irrigation in the Middle East.
The article reports mayors praising urban revival while Census data shows declines in many big cities. Urban Institute researcher John Goodman Jr. argues that the urban immigration trend is a myth. He says movement was neighborhood based, with suburbs likely drawing families long term.
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