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Thursday, May 26, 2022

Moments

A LOOK BACK AT WHAT MADE LOS ANGELES

WHAT IT IS TODAY

25years ago this week: Suffering from declining sales and lingering debt, Mattel restructured its credit arrangements and decided to close a manufacturing plant in Mexico The United Auto Workers refused to join a strike by McDonnell Douglas machinists that had crippled operations at five Southern California facilities.


THE NEWSMAKERS

John H. Silcox, a vice president of Standard Oil Co., disclosed at a hearing in Beverly Hills that construction had started on seven new vessels valued at a total of $350 million to be used for offshore drilling, even though federal officials had yet to decide the controversial question of whether to lease any local areas for exploration and production.


THE NUMBERS

february 7, 1975

Dow Jones Industrial Average 714.17

London gold $173/oz.

Wembley tie $5.50

Portble electric typewriter $130

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