NerdiestKen
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Post by NerdiestKen on Apr 26, 2023 9:03:46 GMT -6
Vincent Resigns as Baseball Commissioner - September 1992 Fay Vincent resigned, September 7, as commissioner of Major League Baseball after a majority of team owners called on him to step down. In 1989, the owners had chosen Vincent to succeed A. Bartlett Giamatti, who had died, as commissioner. Vincent said he believed in exerting strong leadership, but some owners found his actions high-handed.
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NerdiestKen
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Post by NerdiestKen on May 19, 2023 9:04:33 GMT -6
U.S. Economy Contracted in 1991 - January 1992 The goverment reported that the U.S. economy contracted in 1991, for the first time in 9 years. The Labor Dept., reported, January 9, that the producer price index for finished goods had edged downward by 0.1 percent in 1991, the first decline in wholesale prices in 5 years. The department reported, January 10, that unemployment stood in December at 7.1 percent, the highest in more than 5 years. The department said, January 16, that consumer prices had risen 3.1 percent in 1991, the lowest annual increase since 1986. The Commerce Dept. reported, January 17, that the U.S. trade deficit narrowed to $3.57B in November, the smallest in 9 years. The U.S. gross domestic product contracted 0.7 percent (adjusting for inflation) in 1991, the department announced, January 29, and this was the first decline since 1982. The department reported, January 31, that the leading economic indicators fell 0.3 percent in December, to their lowest level since June 1991.
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NerdiestKen
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Post by NerdiestKen on May 19, 2023 9:11:26 GMT -6
2 California Women Win Senate Nominations - June 1992 Two women, both Democrats, were nominated for the U.S. Senate in California, June 2. In a contest for a full 6-year term, Rep. Barbara Boxer would oppose Bruce Herschensohn, a conservative Republican television commentator, in the November election. Dianne Feinstein, a former mayor of San Francisco, would be running against Sen. John Seymour, who had been appointed to the Senate after Pete Wilson resigned in 1990 when he was elected governor. In the June 2 primary, women won 19 major-party nominations for California's 52 U.S. House seats.
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NerdiestKen
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Post by NerdiestKen on May 19, 2023 9:18:44 GMT -6
Canada, Mexico and U.S. Agree on Trade - August 1992 Representatives from Canada, Mexico, and the U.S. announced, August 12, that they had approved a draft agreement establishing free trade among the 3 countries. Over 15 years, tariffs and other restrictions on trade and investment among the countries would be eliminated. The new pact would expand on an agreement between Canada and the U.S. in effect since 1989. The legislatures in all 3 countries would need to approve the draft. Leaders of organized labor in the U.S. warned that the agreement, if approved, would prompt more U.S. companies to move to Mexico, resulting in a loss of jobs in the U.S.
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NerdiestKen
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Post by NerdiestKen on May 19, 2023 9:25:57 GMT -6
Hurricane Losses Pat at $7.3B - September 1992 An insurance industry group estimated, September 1, that victims of hurricane Andrew in Florida would collect $7.3B in insurance claims. This figure did not include costs of damage to public property or damage in Louisiana. On a visit to south Florida, September 1, Pres. George bush promised that the federal government would cover almost all disaster relief costs. He also promised that Homestead Air Force Base, nearly destroyed by the hurricane, would be rebuilt. Another hurricane, named Iniki, struck Hawaii, September 11. Described as the worst hurricane to hit the islands in the 20th century, Iniki caused 3 deaths and $1B in damage. On the island of Kauai, winds reached speeds of 130 miles an hour, and half of its 20,000 homes were badly damaged.
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NerdiestKen
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Post by NerdiestKen on May 28, 2023 15:20:24 GMT -6
Macy's Files for Bankruptcy - January 1992 R.H. Macy & Co, owner of 251 retail stores in the U.S., filed for bankruptcy, January 27. Macy's flagship store in New York City was billed as the world's largest. Macy's purchase, in 1988, of I. Magnin and Bullock's, for $1.1B, had burdened the company with a large debt, and the economic recession had adversely affected the 1991 Christmas shopping season.
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NerdiestKen
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Post by NerdiestKen on May 28, 2023 15:26:13 GMT -6
United Way's President Forced to Resign - February 1992 William Aramory, president of the United Way of America, was forced to resign, February 27, after articles in the press called attention to his salary ($390,000) and other compensation and expenses he had received. United Way consists of some 2,100 local chapters that raise money---$3B in 1990--- for many different charities. An internal investigation had found questionable record-keeping and accounting practices. Aramory had headed United Way since 1970.
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NerdiestKen
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Post by NerdiestKen on May 28, 2023 15:30:54 GMT -6
Killer of 15 Men, Boys Found to Be Sane - February 1992 Jeffrey Dahmer, who had pleaded guilty to killing 15 young men and boys, was found to be sane by a jury in Milwaukee, February 15. Dahmer, who had mutilated his victims and eaten parts of some of them, had pleaded insanity. Ten of the 12 jurors, the minimum required for a verdict, found that Dahmer was sane. On February 17, he was sentenced to 15 consecutive life terms in prison.
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NerdiestKen
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Post by NerdiestKen on May 28, 2023 15:37:36 GMT -6
Arthur Ashe Says He Has AIDS Virus - April 1992 Tennis player Arthur Ashe announced in a news conference, April 8, that he had contracted the virus that caused acquired immune deficiency syndrome. Ashe, in 1968, had become the first black to win the U.S. Open tournament. He said he believed he had contracted the virus during a transfusion after undergoing heart surgery in 1983. He learned he had the virus while undergoing brain surgery in 1988.
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NerdiestKen
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Post by NerdiestKen on May 28, 2023 15:41:41 GMT -6
Leona Helmsley Enters Prison - April 1992 On April 15, New York hotel owner Leona Helmsley entered a prison in Lexington, Ky., to begin serving a 4-year term for evading federal income taxes. Citing her own poor health and the frail condition of her elderly husband, Harry, Mrs. Helmsley had sought until the last minute to avoid being sent to prison.
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NerdiestKen
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Post by NerdiestKen on Jun 12, 2023 9:53:18 GMT -6
8 Soviet Republics Sign Economic Treaty - October 1991 Pres. Mikhail Gorbachev and the presidents of 8 Soviet republics signed an economic union treaty in Moscow, October 18, that declared "private ownership, free enterprise, and competition" to be the "basis for economic recovery." The presidents of 4 other republics---Azerbaijan, Georgia, Moldavia, and Ukraine---boycotted the signing. The Ukranian parliament voted, October 22, to create an independent armed force that would have a strength of at least 400,000. The Ukranian government announced, October 23, that it would henceforth conduct its own economic transactions with other countries.
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NerdiestKen
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Post by NerdiestKen on Jun 12, 2023 10:03:05 GMT -6
Arctic Refuge Controversy Sinks Energy Bill - November 1991 A national energy bill, containing many provisions supported by the Bush administration, was blocked in the U.S. Senate, November 1. The bill, sponsored by Sen. J. Bennett Johnston (D-La.), would have set higher fuel-efficiency standards for cars, eased restrictions on utilities, supported construction of nuclear power plants, and deregulated oil and gas pipelines. It also would have opened the Arctic National Wildlife Refuge in Alaska to drilling for oil, which triggered organized opposition from environmental groups. They supported a filibuster, and with 60 votes required to cut off debate, only 50 senators supported cloture. Advocates of the bill conceded it was dead for the rest of the year.
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NerdiestKen
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Post by NerdiestKen on Jun 27, 2023 11:38:43 GMT -6
Infected by AIDS virus, Basketball Star Retires - November 1991 Earvin (Magic) Johnson retired from professional basketball after he tested positive for the HIV virus that caused acquired immune deficiency syndrome. After leading Michigan State to a national college title, Johnson had starred 12 years with the Los Angeles Lakers. He received the league's most valuable player award 3 times, and the Lakers won 5 NBA titles. On November 7, Johnson announced that he had become infected with the virus and had retired on advice of his doctors. The AIDS virus had proved fatal to more than 125,000 Americans during the past decade. At this press conference and in subsequent statements, Johnson appealed to young people to practice safe sex or abstain from sex outside marriage. On November 15, he accepted an invitation from Pres. George Bush to join the National Commission on AIDS.
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NerdiestKen
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Post by NerdiestKen on Jun 27, 2023 11:45:26 GMT -6
France's First Woman Premier Resigns - April 1992 Premier Edith Cresson of France resigned, April 2, after less than 11 months in office. Cresson had made her mark with outspoken views, sometimes not too dimplomatic. Her popularity had declined in the wake of financial scandals and a high unemployment rate. Her Socialist Party had done poorly in regional elections. Pres. François Mitterand named Finance Minister Pierre Beregovoy to succeed Cresson. Beregovoy's cautious fiscal policies had protected the value of the franc and had brought the inflation rate down to 3 percent.
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NerdiestKen
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Post by NerdiestKen on Jun 27, 2023 11:50:36 GMT -6
Boy Wins Suit to Get New Parents - September 1992 A 12-year-old boy won a suit in a Florida circuit court in Orlando, September 25, that ended the parental rights of his natural mother and allowed his foster parents to adopt him. The case may have been the first in which family rights were ended as a result of a legal action brought by a child. During the trial, the boy, Gregory Kinsley, testified that his mother, Rachel, had not visited him for almost 2 years while he was in foster care.
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