08 Feb 1977
Page 1
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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Feb 08, 1977
Page
1
General Motors reports a record 2.9 billion dollars in net income for 1976 with earnings per share of 310, a share. It surpasses Exxon’s 2.6 billion profit but Exxon posts 3.0 billion, the highest for any industrial firm. Analysts expect more gains in 1977.
The piece explains dealer bargaining, showing how sticker price may be slashed or held firm based on dealer urgency. It covers margins by car class, trade-in considerations, and tips to gauge true dealer cost and close a deal.
Robert blasts new colleagues for favors to recall backers while Amlee delays rollback to avoid legal issues. City water officials scramble over a test rate proposal as Amlee pushes a flat rate for all water customers. Preliminary estimates suggest monthly bills may fall slightly.
In Nicosia Cyprus Saudis win first round of oil price fight as OPEC split structure takes effect. Amlee proposes rates that may lower city water bills for many households though long term effects depend on inflation and bond costs. The council delays a callback as financial advisers review the plan while consultants do not oppose the proposal.
President Carter is expected to propose relatively small adjustments to the fiscal 1978 budget inherited from Gerald Ford, with analysts citing about 15 billion dollars in additional spending. The proposal would focus on defense and HEW programs while likely restoring some cuts in Medicare, child nutrition, and food stamps, and could push the total outlays near 455 billion and the deficit around 57 billion.
In Soyuz 24, two Soviet cosmonauts in orbit around the Earth fixed their trajectory for a planned docking with the Salyut 5 space station. This follows an earlier failed attempt in October and marks the first manned Soviet flight since then.
W Graham Claytor Jr of Norfolk Virginia has been named secretary of the Navy by President Carter. A World War II lieutenant commander and Harvard Law graduate he now chairs Southern Railway System and commanded a submarine chaser during the war. Carter also named Adm Stansfield Turner as CIA director and summoned Huang Chen for a White House conference with congressional leaders scheduled.
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