20 Years Ago This Week: UCLA economists predicted a recession during the final two quarters of the year, with negative economic growth reaching 3 percent before a slow recovery expected to begin in early 1980 Pacific Telephone and Telegraph Co. said it would seek $1 billion in loans from 11 banks while positioning itself for worst-case resolution of rate applications and various disputes before the Public Utilities Commission.

THE NEWSMAKER

Alan Ladd Jr., the man responsible for producing “Star Wars,” said he would step down as president of Twentieth Century Fox Pictures when his contract expired. Ladd, who made $1.9 million in salary and incentive payments in 1978, was leaving because his administrative work cut into the time he could spend producing and marketing movies, the studio said.

THE NUMBERS

JUNE 21, 1979

Dow Jones Industrial Average 836.11

London gold $282/oz.

Quart of STP motor oil 88 cents

RCA videocassette recorder $700