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Newspaper
Winchester Evening Star
Location
Winchester, Virginia, United States of America
Date
Aug 27, 1979
Page
6
New York AP reports McDonalds trimmed hamburger prices by a nickel while Burger King resists matching cuts. Spokesman Paul Reinhart cites cost efficiency and value in a still divided market as meat prices ease and food inflation slows.
The article notes Paul Volcker's appointment as Fed chair sparks Wall Street euphoria with the Dow reaching yearly highs while inflation remains the central challenge. It details policy moves, expectations for anti inflation action, and potential risks of a market setback once the honeymoon ends. It also covers food and beef price trends, auto sales shifts, and gold price records amid broader economic tensions.
A. Ross Boyd retires from Virginia Apple Storage after a 1964 tenure as Dock Foreman with a retirement celebration at the Holiday Inn South in Stephens City where he and wife Ollie reside with two children and four grandchildren. Housing forum in Richmond covers HUD 312 rehabilitation money and community development funds with Farmers Home Administration and Virginia Housing Development Authority involvement. Smith's Transfer Corp to acquire Garrison Motor Freight stock. requires ICC and state commission approvals with temporary management and permanent control applications. J.T. Baker Diagnostics Winchester hosts open house tied to 75th anniversary. facility makes reagents for hospitals and labs. parts of Richardson-Merrell Inc portfolio.
Economic forecasters agree a recession is here and focus on its depth. Public opinion diverges with 45 percent saying a serious recession will occur, 36 percent disagreeing, and 19 percent unsure. The official definition cites two consecutive GDP declines after inflation adjustment.
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