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Economy News / Chrysler / Coal Strike / Housing Starts / God #29207

ABC Evening News for Monday, Nov 18, 1974
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(Studio) New auto industry layoffs expected; delays in ending coal strike threaten additional economy cutbacks. Strike against Greyhound begins this afternoon. On Wall Street, new wave of selling occurs. Chrysler Corporation calls in top officials to discuss bleak prospects for December
REPORTER: Howard K. Smith

(Detroit, Michigan) [Chrysler chairperson Lynn TOWNSEND - says 50,000 car production cutback scheduled.] New car dealers report car sales off by 1/3. 25,000 workers at Chrysler already laid off. [President UAW (United Automobile, Aerospace and Agricultural Implement Workers of America) local 7, Kennie FLOWERS - says this economy crisis of great magnitude.] Unemployment lines grow longer each day.
REPORTER: Ron Miller

(Studio) United States Steel Corporation says some steel plants to be closed completely unless coal strike ends by December 1. Govt. says new hsing. starts drop to lowest level in 5 years Unemployment in building trade expected to rise to 16%. Price of gold reaches new high in Europe as American dollar slumps to new low in Zurich, Switzerland.
REPORTER: Howard K. Smith

Miller, Ron;
Smith, Howard K.

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