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.
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.
february 7, 1975
Dow Jones Industrial Average 714.17
London gold $173/oz.
Wembley tie $5.50
Portble electric typewriter $130