July 17, 1980

HOUSTON, July 16--Every morning it is the same. The air is pleasantly balmy as the first, faint light of day appears over the oaks and pines. But as soon as the sun peeks above the treeline, the heat is felt. By late afternoon it is 100 degrees or more, and fluffy white clouds, rainless clouds that don't show up on radar weatherscopes, drift across the sky atop torrid ...

Korvettes Inc. will close half of its remaining department stores by Aug. 1 as part of a survival plan that includes turning over to three New York banks and an insurance company 25 percent of the retail chain's earnings through 1987.

WASHINGTON, July 16--The Carter Administration is exploring ways to help the depressed steel industry, possibly including a negotiated settlement of the United States Steel Corporation's antidumping petition against European steelmakers, Administration officials said today.

LOS ANGELES, July 16--New television technologies are altering patterns of power and wealth that have prevailed in the entertainment industry for decades and appear to be leading to fundamental changes in the way film entertainment is delivered to American consumers.

DETROIT, Thursday July 17--A jubilant Republican Party formally proclaimed Ronald Reagan as its nominee last night and then heard this morning, after one of the most dramatic aboutfaces of recent convention politics, that George Bush would be his Vice-Presidential running mate.