Show “itwanafii ft f 12A Standard-Examin- August 20 Wednesday er 1 980 NOW SERVING WASHINGTON (AP) — The sharp drop in corporate profits from April through June means Pre-ta- x that should exist if senior economist of Chase profits from April June fell 198 percent from Bala in Econometrics to through Associates risk heavy are going companies the first quarter while after-taPa is “This inescapCynwyd spending back their spending and lay off more workers in coming months private economists say The squeeze on companies is tightened further by suddenly rising interest rates that discourage borrowing for new plants and equipment these economists explain Moreover a revival of rampant inflation last month will add to the cost of new business investment and dampen any prospect of a rapid resurgence in consumer de-- from sure a very sluggish recovery — were the current recession with painted in interviews Tuesday na- of the economists from three tion’s leading private forecasting that companies will continue to cut ALL OF -- mand — a force These trends — which would en- NORTHERN UTAH WAiN x able” profits declined 182 percent Corporate profits from current production — a measure that adjusts for depreciation and the replacement of inventory — fell near- ly u percent from first quartern second quarter Companies did manage to retain more of their total earnings during the second quarter than in the first quarter However these retained profits were 13 percent below levels set during the same three-Apr- il month period in 1979 Commerce Department figures show Chase Econometrics Data Resources Inc and Evans Economics all predicted a sustained shrink- age of corporate profits through this year as the recession continues — although at an easing pace firms On the that economists Tuesday the Commerce De- The agreed — partment reported that corporate decline in corporate profits — not virtually profits fell steeply from the first while unexpected guarantees that companies will quarter to the second quarter This further cut back activity and lay occurred while the nation’s entire economy plunged 9 percent from off more workers emthrough June as the full force “This is a trigger for cutting of the recession took hold ployment” said Sandra Shaber MIDLAND D OWCI-271- 1 SHOWKOOM-37H S 0 2 00DEN GRECIAN STORM SECURITY STORM DOORS DOORS s196 Tesftii moony Whit or 10x20 Including PATIO Black WASHINGTON (UPI) — Former Transporta- tion Secretary William Coleman charged today voluminous government records do not contain “one bit of evidence” to prove automatic transmission defects in 26 million Ford Motor Co vehicles Coleman now representing Ford testified at the opening of a three-da- y hearing into whether the government should make final an initial “defect” finding that would require Ford to recall 16 million of those vehicles It would be the largest automobile recall in history “Ford’s automatic transmissions do not jump out or cannot slip out of park into reverse and there is not one bit of evidence in the record that they do” Coleman told the National Highway Traffic Safety Administration panel The Ford attorney claimed Ford is being singled out by the government agency in a series of “relentless public attacks” even though its trasmissions are similar to those of other automakers On June 11 the highway safety agency announced an initial determination that a safety defect existed in the automatic transmissions of all Ford vehicles produced in 1972-7- 9 The agency found the transmissions can slip into reverse when the gear indicator is left in the park position with the engine running creating a serious potential for deaths and injuries NHTSA has reports of more than 6000 accidents due to the alleged defect including 98 fatalities and 1710 injuries The agency also received more than 23000 complaints from Ford owners “Much of what I say today will be NHTSA’s own evidence” he said “And unfortunately for us it is evidence NHTSA left out of the Dead Belt lock claimed the agency decided to investigate only In opening the hearing NHTSA Administrator statement outJoan Claybrook read a of investilining the history the three year-ol- d gation the largest in the agency’s history She also revealed that three more fatalities have been attributed to the alleged problem since NHTSA announced its June Initial findings inColeman point interrupted her presentation to clarify a point and she asked him to remain silent until she completed her statement Ford has been allocated 12 Yz hours of time on the agenda — roughly half of the time available report” Coleman said the Transportation Depart- — to rebut the government findings which if ment agency started its investigation in 1977 made final could cost the auto maker millions based on a single letter from the Center for of dollars Auto Safety which was founded by Ralph NadWithout advertising er and Consumers Union but is now indepena terrible thing dent happens Despite the fact that NHTSA had reports of “inadvertent movements” of driverless Gener-al Motors Corp vehicles at that time Coleman- COVER 650 Ford if 12-pa- ge “park-to-revers- £s V r? Sf v J $ V: e” v'fc ?yvv CLEARFIELD a ' ± s‘ Mb SHOWROOM DISPLAYS SMITHS HOWMET PATIO COVERS ALUM SHUTTERS HOWMET PATIO ENCLOSURES ALUM STORM DOORS ALUM STORM WINDOWS ALUM PIX-NI- K SOFFIT ALUM SIDING ALUM RAIN GUTTERS ALUM ROOFS FASCIA TABLES Thursday and Friday Nothing - UTAH S00 I CUAtllELD UTAH or 773 9466 CloarfoE Anita Gets Divorce MIAMI (UPI) — Singer-crusad- Anita er has been granted a divorce from her husband of 20 years “This court has determined the marriage between the parties hereto is irretrievably broken” Dade Circuit Judge Murray Goldman ruled Friday “Therefore the marriage between Anita Green and Robert Green is hereby dissolved” Miss Bryant and her four children are on their way to Tulsa Okla where they will reside said Lenore Cate Miss Bryant’s mother “Right now she’s off of men and I don’t blame her” said Mrs Cate LAST OF f Ghseoaf Specials XI sny 5 Western Shores BATHROOM TISSUE 27 oz Orange W TANG $ 79 pORlt Dozens of desks chairs bookcases and file cabinets Pok Discounted Cash & Carry Specials Super Savings! 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