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Sunday December 12, 1976
. . . where the 1970s live forever!

News stories from Sunday December 12, 1976


Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • President-elect Carter is thought to be in danger of getting out of touch with the people. Direct personal contact with voters was emphasized in his presidential campaign and when he was Governor of Georgia. Same of his aides are worrying about the enforced isolation that has enveloped Mr. Carter since he won the election. [New York Times]
  • The possibility that organizational shake-ups may come with the Carter administration is facing intelligence officials in Washington. These officials say that they have nearly recovered from the demoralizing shocks of congressional investigations and disclosure of past misdeeds, and that there have been enough changes recently. [New York Times]
  • For the first time in more than 40 years commodity traders and speculators will be able starting tomorrow morning to buy or sell silver bullion and copper bars through federally licensed brokers and metals suppliers. The date of the maturities will be at noon of the first business day of December, March, July and September. There is a limit of 16 months. [New York Times]
  • The Conference Board reports that despite heavy investments, foreign-owned companies have relatively little influence on the United States economy. The organization made a study of the largest 100 foreign-owned companies that account in sales and employment figures for about two-thirds of the direct foreign investment in this country. Only seven of the 100 could match their American counterparts and this was only in terms of annual sales of $1 billion or more. But there are 255 American companies with sales that size. [New York Times]
  • Minority men still have extreme difficulty in getting jobs at any level in large banks even though the banks are employing more women, including minority women, than ever before, except in top jobs, according to a study by the Council on Economic Priorities, an independent research organization. The study, called "Short-Change/Update," analyzes the employment policies, as of 1975, of the three biggest banks in eight major cities. [New York Times]
  • The six Persian Gulf countries that doubled the price of light Arabian crude oil three years ago in one of the crucial world events since World War II are to meet Wednesday in Qatar and to raise the price again. They will be joined this time by seven other Arabian countries that make up the price-fixing cartel known as the Organization of Petroleum Exporting Countries. [New York Times]
  • Young people without jobs -- mainly school dropouts, as in the United States -- have become a major problem in Western Europe. Economic and social forces are combining to make the young people into what the Organization for Economic Cooperation and Development has described as a "new underprivileged group." [New York Times]
  • Portugal's minority Socialist government, in office four months, received early support from the voters in a close election regarded as a referendum on the government's performance. Final results will not be known until late tomorrow because voters must fill three ballots in the election to choose 45,000 representatives to municipal and ward councils and town halls. [New York Times]
  • Saul Bellow, one of the seven Americans who won this year's Nobel Prizes, fulfilled a traditional duty of a Nobel winner in Stockholm with a 70-minute lecture. He expressed his views on the novel and art, chided some critics, expressed disappointment in modern writers, and urged artists to find and unravel the "fundamental, enduring, essential" in the 20th century. [New York Times]


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