The New York Times/Sally Remco

BUSINESS Digest

Gov Grasso announces ‘austere’ $2.4 billion state budget for fiscal '80, beginning July 1, address to Gen Assembly; asks for increase of 5.1% in spending; asks, in only new proposal, for relatively modest $22 million for econ-development projects in cities; suggests modest new bond-authorization measures totaling $22 million; Anthony T Milano, state's chief budget officer, comments; Grasso illus (M)

GOV. GRASSO SUBMITS $2.4 BILLION BUDGET

consumers, because of resumption of diplomatic relations with China, can expect to find more Chinese furniture and home furnishings in Amer stores and gradual change in kinds of designs China exports to US (M)

What's Coming From China?

New mgt has been quietly remolding co since last yr; co, to reverse declining profits, is turning back to view of itself as merchant serving middle-class Amer; changes listed; pors of top mgt personnel (S)

Sears: New Chiefs, Old Course

Kaiser to raise export ingot prices to 59c a lb (S)

Alcoa Bans New Orders For Ingots

News Summary

Amer Motors chmn Gerald C Meyers says co will convert Kenosha, Wis, auto assembly plant to Jeep facility; says co will begin production by late summer of 4-wheel-drive passenger car; illus (M)

AIM C Will Expand Its Production of Jeeps

SEC charges that William F Buckley Jr has violated antitrust and other provisions of securities law by engaging in business transactions that injured co he headed but saved him from possible personal bankruptcy; charges stem from Buckley's role in '75 sale of 12 ailing drive-in theaters in Texas to Starr Broadcasting by partnerships controlled by Buckley, Peter Starr, Michael Starr and Gordon Ryan, all of whom were Starr officers at time (M)

S.E.C. Charges William Buckley; He Agrees to a Settlement in Stock

Macchiarola asks State Legis to guarantee that some of $71 million increase in state educ aid go to pss, rather than have it used to help close city's budget gap, as Mayor Koch has planned (S)

A Plan to Divert Funds Opposed By Macchiarola

IN an attempt to deal with the chronic acquisitiveness that threatens the moral fiber of American society, a new organization, Collectors Anonymous, has been established. Three years in the making, it is starting a nationwide campaign to alert people to the dangers of amassing collectibles, directing them to centers where trained personnel can assist in curing them of what psychiatrists now consider disease of epidemic proportions.

How to Conquer Collecting

NYS Assemblymen G Oliver Koppell, Com on Corps, Auths and Comms chmn, and Arthur J Kremer, Ways and Means Com chmn, introduce legis that would restructure MTA; bill would, for 1st time, mandate appt of strong chief operating officer and expand bd to bring in more suburban reprs; seems designed to facilitate Gov Carey's efforts to appt new operating exec, which would dilute power of Fisher (M)

2 Assemblymen SeeK to Broaden BOard of M.TA.

State Dept tells Cong in its annual human rights rept that while Israel practices ‘high standards’ inside its own territory, certain guarantees ‘have been suspended on security grounds’ in occupied Arab territories (M)

State Dept. Asserts Israel Curbs Human Rights in Occupied Areas

thousands of Khomeini's supporters march peacefully in major cities; Govt employees show growing reluctance to serve mins currently in office (M)

Surge of Support For Islamic Rule Reported in Iran

Dollar plunges on Eur exchs on Feb 7 amid growing concern over econ consequences of long-term curtailment of oil supplies from Iran (M)

Dollar Off, Gold Soars On Oil Fear

Sec Schlesinger predicts that Iranian production will reach only 4 million bbls a day when it does come back, compared with 6 million a day before shutdown owing to tech difficulties and possible conservation policy of new Govt (M)

A U.S. OIL SHORTAGE GROWS MORE LIKELY, SCHLESINGER WARNS

Flood juror William Cash's story to other jurors about his reasons for not voting to convict are similar in several details to previously undisclosed information chief prosecution witness claims he provided to Fed agents; Fed agents are said to be investigating coincidence; Cash claimed witness, Stephen B Elko, had taken exact amt of money from Flood that Elko said was taken from Flood by his predecessor as Flood aide (M)

Story Holdout Gave to Flood Jurors Similar to One a Witness Reported

correction; faculty member who resigned was James Washington (S)

CORRECTION

7 inches of snow reptd in NYC and surrounding suburbs; illus (S)

Heavy Showstorm Clogs Ground and Air Traffic

Rosalynn Carter forestalls possible questions about natl health ins, proposal endorsed by Sen Edward Kennedy but not yet by Pres Carter, testimony before Kennedy's Subcom on Health and Scientific Research; illus (S)

Mrs. Carter, in Capitol Debut, Praised by Kennedy

Texaco to restrict sales of its Middle East light crude oil to its customers by as much as 8% during Feb and Mar as result of interruption of imports from Iran (M)

Texaco Set To Reduce Oil Sales

Economists express concern that high corp profit making of 4th qr of '78 could lure businesses away from their cautious stance, leaving them in more precarious position just as downturn hits; expect high profits to continue at least through 1st half of this yr; note real profits and cash position of corps have not improved for last yr and half; forecasts for after-tax profits range from 7% to 14%; list of forecasters and their projections (M)

Strong Profit Gains Worry Economists

Mayor Koch and Gov Carey win commitment from Pres Carter to do ‘everything possible’ to assure NYC of at least $100 million in additional Fed aid in next fiscal yr, White House meeting with Carter; Koch and Carey, at Sen Banking Com hearings, are told not to expect Cong approval of Fed aid and to proceed with deep budget cuts; Koch and Carey say they are encouraged; illus of Carey, Koch, Carter, Sen Daniel P Moynihan and HEW Sec Joseph A Califano Jr (M)

PRESIDENT PROMISES TO ASSIST NEW YORK; SENATORS DOUBTFUL

'WHEN I come home, I switch on one of the TV's for the news. I like to eat watching TV. I can only go to sleep with the TV on, and when I invite people over it's to watch TV.&#8221; That how Allen Schwartz, a partner in a junior clothing company, describes his at&#8208;borne life, adding, &#8220;I find TV the most relaxing thing I know.&#8221;

The Big Picture: Life With TV

Article on energy-auditing services available in NYC met area; service includes inspection of home, estimates on improvements (M)

Energy Audits: New Fuel Saver

Aaron Lane Cook is an American former professional baseball pitcher. He played in Major League Baseball (MLB) for the Colorado Rockies and Boston Red Sox.

Aaron Cook, American baseball player

Aaron_Cook_(baseball)

Dennis Gabor was a Hungarian-British physicist who received the Nobel Prize in Physics in 1971 for his invention of holography. He obtained British citizenship in 1946 and spent most of his life in England.

February 8, 1979

Headlines from February 8, 1979

The New York Times/Sally Remco

BUSINESS Digest

GOV. GRASSO SUBMITS $2.4 BILLION BUDGET

What's Coming From China?

Sears: New Chiefs, Old Course

Billboard 200

Blondes Have More Fun

Briefcase Full of Blues (Soundtrack)

52nd Street

You Don't Bring Me Flowers

Barbra Streisand's Greatest Hits; Volume 2

Notable Births

Notable Deaths

Historical Context for February 8, 1979