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Economy / Inflation / Balance of Payments / Zenith Lawsuit / Steel Merger #712646

NBC Evening News for Wednesday, Jun 21, 1978
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(Studio) Testimony to Congress of administration inflation fighters on inflation-fighting policies noted.
REPORTER: John Chancellor

(DC) Skepticism greeting presidential advisor Robert Strauss’ statement that the inflation fight is going well described. [Representative Richard KELLY – says there’s a barnyard expression to describe anti-inflation program being presented.] [STRAUSS – thinks program’s anti-inflation measures are sound, sensible & precise.] [Wage & Price Council Director Barry BOSWORTH – says the battle against inflation doesn’t go well; states the potential effect on economic expansion & unemployment.]
REPORTER: Irving R. Levine

(Studio) Balance of payments figures and the Supreme Court ruling on imported TV sets reported.
REPORTER: David Brinkley

(DC) Japanese & European imports to the US sold here without taxes that citizens of respective nations have to pay featured; details given of Zenith’s lawsuit at the Supreme Court to get compensating duty on foreign products.
REPORTER: Carl Stern

(Studio) The devaluation of the dollar against the yen reported.
REPORTER: David Brinkley

(Studio) The Justice Department’s approval of the merger between steel manufacturers Lykes & LTV examined; details given about Jones and Laughlin Steel & Youngstown Sheet and Tube falling under the same corporate name.
REPORTER: John Chancellor

(Youngstown, OH) Reaction of Youngstown residents to the merger featured; details given of attempts of a coalition of clergy & citizens’ groups to reopen the plant as a community-owned steel mill. [John GREENMAN – anticipates, along with Attorney General Bell, that LTV will bargain in good faith to reopen the plant.] Youngstown’s probable aid from administration's urban development bank noted.
REPORTER: Meredith Lewis

Reporter(s):
Lewis, Meredith;
Chancellor, John;
Stern, Carl;
Brinkley, David;
Levine, Irving R.
Duration:
00:05:20

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