Hughes empire settles stock manipulation suit for 30 million
The Hughes heirs and Summa Corp. agreed to pay 30 million by June 1 1980 in a record SEC settlement. The agency said Hughes Air Corp manipulated Air West shares during the late 1960s takeover and misled investors. Air West shareholders are to receive about 5 to 7 dollars a share from the distribution.
MENTIONED IN THIS ARTICLE
Washington
UPI
Howard Hughes
Securities and Exchange Commission
U.S
Alfonso Zirpoli
San Francisco
SEC
Hughes Empire
Air West Inc
Hughes Air Corp
American Stock Exchange
Marvin Pickholz
Hughes
Air West
Pickholz
Summa Corp
Hughes Air
Hughes Estate
U.S. District Court
Payoff testimony ties Virginia foundation to Flood bribery case
An Airlie Foundation official admitted fabricating $60 000 in phony expenses 1970 to 1974 and funneling cash to his boss Dr. Murdock Head as part of a payoff network targeting Rep. Daniel Flood. Witnesses linked Head and former Flood aide Stephen Elko to bribes for grants and influence.
MENTIONED IN THIS ARTICLE
Washington
UPI
Daniel Flood
Pennsylvania Democrat
Charles Francis
Airlie Foundation
Murdock Head
Flood
Warrenton
Davie Kidwell
House
Airlie
HEW
Edward Martin
Elko
Head
Rep
Otto Passman
D-La
Cleveland Withholds Funds Over Pension Debt Penalties
Ohio state authorities froze more than 1 million dollars in Cleveland tax money after the city failed to pay 5.4 million in premiums to the Ohio Police and Firemen's Disability Pension Fund. Liens and penalties for unpaid balances could extend to Public Employees Retirement System revenues if deadlines are missed.
MENTIONED IN THIS ARTICLE
Columbus, Ohio
UPI
Cleveland
Ohio Police and Firemen
Thomas E. Ferguson
L. Paul Ross
Cuyahoga County
Vincent Campanella
Public Employees Retirement System
William S. McLaughlin
Gilligan urges aid hikes and market access for Third World
AID Director John J. Gilligan told the Cleveland City Club that by 2000 nearly 90 percent of the world’s population will live in underdeveloped countries. He urged the U.S. to boost assistance and open markets, warning protectionism harms both sides. He cited rising world food prices and a projected deficit, stressing limited U.S. production capacity.
MENTIONED IN THIS ARTICLE
Cleveland
API
Agency For International Development
John J. Gilligan
United States
Ohio
Gilligan
Carter
Nuclear safety study pulled amid questions over riskU NRC withdraws Rasmussen Report endorsement
The Nuclear Regulatory Commission reversed its support for the Rasmussen Report citing deceptive executive summary and inadequate peer review. Reviewers say the study underestimates accident probabilities and may mislead risk comparisons, prompting corrective action to ensure similar faults are not repeated.
MENTIONED IN THIS ARTICLE
Edward K. Delong
Washington
UPI
Nuclear Regulatory Commission
U.S
NRC
Rasmussen
Rasmussen Report
Commission
Begin to review new Mideast pact proposals this weekend
Israeli Prime Minister Menachem Begin said he would relay U S treaty ideas to his cabinet on Sunday. Egypt warned it would not compromise on the peace talks citing demands for Palestinian autonomy link and defense obligations. Atherton's Cairo trip delayed to allow further talks after Sabbath.
MENTIONED IN THIS ARTICLE
United Press International
Menachem Begin
U.S
Egypt
Begin
Alfred Atherton
Jerusalem
Atherton
Israel
Camp David
Carter
Anwar Sadat
Butros Ghali
Cairo
Foreign Ministry
Ohio regent denies go-between charge
Richard Krabach chairman of the Ohio Board of Regents denied a state representative’s charge that the board will act as a sole go-between for all state universities and the General Assembly. He said universities are free to communicate with the Legislature without interference. The board also named William B. Coulter deputy chancellor to oversee daily operations and budget management.
MENTIONED IN THIS ARTICLE
Columbus
UPI
Richard Krabach
Ohio Board of Regents
Regents
Ohio General Assembly
Krabach
Myra Shoemaker
Bourneville
Ohio House Finance Appropriations Committee
Edward Moulton
John Bowen
Shoemaker
Moulton
William B. Coulter
Coulter
Jogging in Street Ticket Sparks Cleveland Area Case
Two Boston Marathon hopefuls, Jonathan Kring and Charles Minnich, were cited by Avon Lake police for jogging in the street where a sidewalk was unavailable. They face fines up to 100 dollars each for jay walking and resisting arrest after a police chase and frisk.
MENTIONED IN THIS ARTICLE
Cleveland
UPI
Jay
Jonathan Kring
Charles Minnich
Avon Lake
Minnich
Ford Motor Co
Kring
NASA
Lewis Research Center
Electric Boulevard
Mark Hagedorn
Hagedorn
Also Mentioned on This Page
Francis
Ravens Hollow Film Company
United Staes
Canada
Harold Lewis
University of California At Santa Barbara
Norman Rasmussen
Massachusetts Institute of Technology
Boston
Pearl Road
Brunswick
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