Each week here on through the decades we see the exceptional range of our human nature. And this week, weve seen the bombing of an Anarchist Organization in the middle of an american city, the launch of a rocket that would fuel the Foreign Policy of the Twentieth Century, the inauguration of an extraordinary man that signaled peace to all corners of the globe and the failure of an auto maker that set a political precedent decades later. And we begin with an event that happened this week in 1981 when the leader of the catholic became the target of anthe ii assassin. Became the target of anthe ii assassin. Pope john paul the iis election to the papacy in 1978 was unique for a number of reasons he succeeded one of the shortest papal reigns in history, he was the first nonitalian pope in over 400 years, he was relatively young but what really made john paul the ii stand out was his presence. This one could easily be dubbed the tireless or vigorous pope with crowds, especially children. He is as active as a politician. The pope in his usual bulliant fashion did some greeting of his own working the crowd along the fence like an experienced politician. For the time, john paul the iis rapport was unusual. He was exceptionally public, insistent on being among the people and his weekly general audiences were always an opportunity to greet his supporters that gathered in vatican citys st. Peters square. But on may 13, 1981, among that crowd lurked an assassin. Riding in an openair jeep, Pope John Paul the ii passed through the square waving at the crowd of thousands but then all of a sudden gunshots four of them each hitting Pope John Paul the ii. The crowd was left stunned. The pope slumped over and was immediately rushed to the hospital. Meanwhile, the shooter tried to make his escape but was grabbed by a group of bystanders and held until police arrived. Italian police positively identified the suspected gunman. Twentythree year old Mehmet Ali Agca was charged with attempting to murder john paul ii. Police claimed agca told them of his support for a marxist palestinian faction in the middle east but turkish officials described agca as a notorious hitman for right wing extremists in turkey. Agca was a Turkish National and he was no stranger to the authorities. In 1979, he was convicted of murder and sentenced to life in prison but months into his sentence, he escaped. He is a wellknown fugitive from turkish justice, a terrorist who has been tried and convicted for the murder of a prominent turkish journalist. Police found several handwritten notes in agcas pocket when they arrested him. One stated that he was killing the pope as a protest to soviet and u. S. Imperialism as well as the genocide happening in el salvador and afghanistan. But later on, hed offer several conflicting statements about his motives leaving the World Wrestling to make sense of it all. This kind of violence or terrorism against a religious figure seems out of place in modern times, doesnt it . Doesnt it seem somewhat medieval perhaps rather than modern . How do you explain it in modern times . Well, i wish it were an unusual phenomenon but if you think back over the last two years, across almost all major religious groups, youve seen acts of violence. But an increasing tide of violence wasnt just felt among religious groups. Six weeks before the pope was shot, an assassination attempt was made on president ronald reagan. To me, the worry is that all of this is becoming so routine. I wonder if the shock is wearing off. The question that swirled was how to protect a public person whether a pope or a president without completely isolating them from the people theyve been entrusted to lead. So, i think whats happened is weve become accustomed now to the pope, particularly this pope, traveling around the world and taking advantage of the extraordinary means of transportation that we have. I think it would be more a disappointment that this particular pope couldnt continue at least for the time being to exploit his obvious gifts in reaching millions of people and somehow touching them in a way that many public figures just dont seem to be able to do today. Pope john paul the ii made a full recovery and when he returned, there was no shying away from the pope he was before. He was just as visible just as accessible even to the man who tried to take his life who john paul the ii would meet and forgive two years later. Law enforcement shootouts with Fringe Groups are nothing new but usually theyre located in remote or deserted locales. The risks are catastrophically higher when the organization under attack is headquartered in a crowded city as philadelphia found out this week in 1985, when its police force badly miscalculated an assault on an Anarchist Organization called move. A barricaded house, bursts of gunfire through the day, tear gas and water cannon. That was the scene today in philadelphia, as police confronted membe of a radical, backtonature cult called move. And just minutes ago that house burst into flames after an earlymorning shootout had evolved into a standoff. Chris the siege began about daybreak. Police say they attempted to serve arrest warrants on five people inside the barricaded road house. The building was bombarded with tear gas, and then police say gunfire erupted from inside the house. The neighborhood sounded like a war zone. It was a war that had been brewing for more than seven years ever since the first confrontation between the police and the radicals. The selfproclaimed calling themselves move, short for Community Action movement, have been preparing for a confrontation with police for weeks. For five years, the groups has occupied a house in West Philadelphia. Last may, the move people, brandishing firearms, refused to allow a health inspection. Eleven arrest warrants were issued. Despite their radical beliefs, the members of move maintain their movement is nonviolent. Our weapons are here strictly for defense. Not for the shooting of any cops, but to stop the cops from killing us. N keeping close watch on the move group but have made no forcible attempt to enter the house, waiting instead for a court action which would enable them to seal off the move people and starve them out. Well completely shut off food. Theyll get nothing. Even a fly wouldnt be able to get through when we get done. Last night the courts gave the police the goahead and early this morning they moved in, setting up barricades. No one is allowed to approach the move house. Perhaps 25 people are inside. Electricity and water have been shut off. The entire operation took place without violence from either side. Now, the situation is frozen. The move people say theyll not shoot, unless shot at, but they will not leave their house. Five months later, the confrontation finally turned violent. Shortly after dawn, bulldozers knocked down the fences surrounding the threestory victorian style house that had been occupied by a group called move. Move had refused to respond to charges of housing and Health Code Violations over a year ago. Police spent a year staking out the neighborhood and this spring spent almost two months trying to starve out move members and prevent violence. This morning the Police Ordered them to surrrenderthe orders were ignored. The first police sweep through the house was fruitless. Move members had hidden in a basement. An hour later, as fire hoses flooded the basement, several shots rang out, answered by a barrage of police gunfire. In all, one Police Officer was killed, 13 people wounded, including at least eight police and firemen. D and convicted of thirddegree murder. The remainder of the group relocated to a new house in West Philadelphia where now, eight years later, trouble had boiled over again after neighbors complained the house was a headquarters for terrorism and crime. Philadelphias new mayor justified another police assault. Im totally convinced that the organization is bent on confrontation, is bent on violent confrontation, is bent on destruction of the system. It was just a disgrace. I think Something Else shouldve been done before it came to at least half a dozen explosions rocked the area. Bullets ricocheted through the streets and snapped through the air two blocks away. Despite the massive firepower, Officials Say they have been at a standoff since midday. The standoff ended when the police made the unprecedented move of dropping a percussion grenade on the house. But the result was a firestorm that spread rapidly, destroying 61 stunned residents took stock. , you dont drop Something Like that on a row house. These houses are made of tissue paper almost. Theyre not no strong houses. To destroy a whole neighborhood like that in an amount of hours, its uncalled for. The mayor says he isnt sure how the money will be raised, but the victims will be compensated, the houses rebuilt by christmas, he hopes. To look at people talk with me with tears in their eyes, who the money may be raised andsy paid, lost clothes and furniture replaced, housing restored. One thing is probably lost forever the sense of neighborhood. Ive been living here for about eight years. Im about ready to get out of here. I dont want to look at it. The bombing resulted in the deaths of eleven move members, including five children. In 1996, a federal jury ordered the city to pay oneandahalf million in damages to the groups survivors. Despite 30 years later move remainse, active and philadelphia is still known as the city that bombed itself. This week on through the decades, were reflecting on the birth of the 1970s next big thing , the betamax, only it failed to live up to the expectation. Plus, other technical revolutions that had a bigger impact. The birth of the long range missile. At white sands, new mexico the huge missile takes off. Plusthe birth of music on the go and the cassette player and later the death of revolutionary musician, bob marley and the inauguration of a leader who represented equality worldwide. Its all today as we look back on this week on through the decades. On this week on through the decades. Introduced as the latest and greatest sony product this week in 1975, betamax was supposed to change the course of tv viewing forever. Instead, while it may have won an important battle in the supreme court, the video cassette recorder ultimately lost the war to its competition. The Television Age has spawned a new electronic gadget and it in turned has spawned a legal hassle. Ron flagg owns a home video tape recorder. Its called the sony betamax and as ron demonsrates the device allows him to watch programs hes recorded earlier whenever he wants to. The movie, airport 75 for instance. The machine can also record one television broadcast, while it plays back a different onwhet announced may 10, 1975, it was touted as sonys next thing. But almost from the start, sony had not one but two fights on their hands. Two years after the debut of beta, rival jvc brought thr vhs format to the states. Meanwhile, in the courts sony was paving the way for the technology of today. The ability to record audio at home had been around since the 50s and 60s but video was something new. So, Universal Studios and Walt Disney Productions sued sony to stop the vcr with its programmable clock. The studios worry that as more and more video recorders are sold and sony expects to sell 85,000 betamaxs this year, more and more taped copies of televised movies and other programs will be floating around. And for Companies Like mca, which runs Universal Studios that was problematic. A Motion Picture is a protected item under the copyrighw of the United States. If everyone in america, or substantial numbers of people, lets put it that way, were taping airport 75, its pretty obvious that our ability to expect subsequent revenues from the licensing of this product to independent stations would be sustantianally diminished or eliminated. So universal and disney are charging copyright violation on films and series made in these studios. Charging in effect that the consumer whot tapes with the sony betamax is breaking the law even if its done for private use. But sony saw it differently the American Public should be able to do in their homes as they wish especially with the programs coming over the public airwaves. The airwaves apparently belong to everyone. T ruled in sonys favor saying, that by making and manufacturing vcrs, it did not infringe on copyrights owned by the so while betamax would lose the format war to vhs, it did manage to carve out a niche for itself inside the television industry. And the legal fight sony won continues to pave the way for online video, dvrs, even social media. Next, the launch of a missile that would make the world smaller and more dangerous and the robbery of an armed truck that left one dead and led to a life on the run for three and a half years, with over a Million Dollars. Its all still to come today on through the decades. Its all still to come today on through the decades. It went from object of terror to the herald of the space age. This week in 1946, the United States accomplished its First Successful launch of a v2 rocket. The v2 rocket entered service as a weapon of vengeance. The worlds first longrange ballistic missile. It was developed by nazi germany during world war ii and used to obliterate allied targets beginning in september, 1944. Over 3000 were launched leaving behind their fair share of destruction. As the war drew to a close, the allies did their best to salvage any remaining v2 parts. The americans returned with over 300 rail cars worth of materialalong with hundreds of n engineers and scientists. Chief among them, wernher von braun, the architect of the v2 rocket. The v2s were reassembled in white sands, new mexico where the First Successful test launched on may 10, 1946. At white sands, new mexico, the huge missile takes off. The rocket climbed 75 miles high before landing nearly 40 miles from the launch site. A seven minute flight that pushed the country into the space age. In the months that followed, there were more tests. Each successive flight carried some sort of payload. Initally plant seeds and insects to test the cosmic radiation. Eventually a camera was strapped to a v2 and would capture the first picture from space. The huge projector drops the earth behind at the tremendous speed of 4000 feet per second. The rotation of the rocket causes the planet to spin before the lens and the camera photographs the earth 65 miles straight down. The horizon 720 miles away and the curvature of the earth of astonishingly apparent in this still picture from the film. The u. S. Continued running tests on the v2 until 1952 learning valuable rocketry lessons that paved the way for manned spaceflhts which would commence less than a decade later. The beta videocassette may not have had the impact its designers intended but when we come back, the audio cassette player took the country by storm and led a revolution in music on the go in a decades moment in time and later, the inauguration of a man who commanded respect from all corners. I accordingly declare mr. Nelson Rolihlahla Mandela duly elected president of the republic of south africa. Dear fellow citizen, i know what its like to make a home you love. Im so happy that everybody could come today. I have a big family and its still growing so my home equity line of credit helped me upgrade my kitchen and make room for everyone. Call 18554224740 to learn more. And i love helping others with their own home equity line of credit. You can use it to renovate your home, do repairs or just have it on hand for whenever you need it. Its there for you. And i am too. If you have a question about how a home equity line of credit can work for you, ask me. Sincerely, Karen Peterson fellow home owner and fellow citizen. Citizens bank home equity line of credit. Call 18554224740 to apply now. We turn the lens of time back to 1981 when the idea of taking you music on the go was the newest thing. Just about anywhere you go this weekend you may be listening to music or if youre really lucky as Bernard Goldberg reports, you may be watching people listen to music. From the noisy streets of new york to the laid back tranquility of california, americans are tuning out and tuning in. Its the latest fad, tiny stereo cassette players with featherweight headphones. Its caught on all over america but nowhere as it has in new york where more and more people are discovering that about the only space theyve got is between their ears in a manner of speaking of course. You know listening to beethoven and walking in manhatta. You know walking on the streets, its pretty nice as opposed to hearing the sirens going by and the jackhammers. It just puts you in your own world all by yourself. Its like carrying your stereo with you, you know, on your head and its light. Where they wear pinstripes or no stripes theyre discovering that at least musically speaking, you can take it with you, about 750,000 people nationwide are doing juseverye machines. Anyone from a wealthy executive who likes to spend his weekends out on his sailboat listening to beethoven to the street Kid Listening to new wave music down in the subways. Well this is all it is. Theres a lot of noise and confusion down here. It just centers me. You know, i just got to go about five stops but it feels good. Is it the me generation gone wild, a height of antisocial behavior, electronic snubbery . S out to me sometimes so i might as well do it to them. Some still prefer last years model. The radio thats about as big as the Empire State Building and as loud as world war ii that exemplify the sophistication for which new york is so admired . Do you bother a lot of people with that . No. You bother me. Bothers the hell out of me. I think you are invading my life space with that damn thing. Yeah . I am . Yeah. You are really. Not only mine but everybody else around here. Can i ask everybody here, isnt this ridiculous . Youre a country dude its nice to know that music can bring serenity to people, that music has charms to soothe the savage breast. It really quite comforting. Ive had it up to here i cant take it anymore life is but a dream thank you thank you life is but a dream mark goldberg. Cbs news. Our journey continues. We remember the bailout of auto giant, chrysler in 1980. Plus, the death of a musician whose sound outlasts time. Very few artists have been as influential as bob marley. He pioneered a new form of music, reggae that swept the globe in the 1970s and 80s. He transformed the image of his homeland, jamaica and he founded a musical dynasty that continues to this day and he did it all by age 36 when he died this week in 1981. Hes one of these extraordinary figures that come ac come along perhaps once in a generation, whos starting with inner magic of commitment,y some sincerity, of passion and of just skill. Turns it into a part of the universal language of the arts and world. When robert nesta marley was born in jamaica in 1945, no one could have dreamed he would one day sell more than 75 million record albums worldwide and become not only the face of jamaica, but one of the most identifiable faces in the entire history of popular culture. The story of the rags to riches tale in jamaica, the dealing with the racial issues that he had to deal with growing up. Dealing with the violence of jamaica, the gangsters of jamaica. Touring the world. Its a, its an amazing its an amazing tale. In 1963, three teenagers on the mean streets of kingston, jamaica, formed a band. The wailers were initially influenced by such jamaican genres as ska and rocksteady but under bob marleys leadership soon pioneered the reggae sound that they would help turn into a global phenomenon. Marleys embrace of rastafarian religious beliefs including the spiritual aspects of marijuana use informed both his music and his lyrics which became increasingly political. His lean and languid vocals, riding over reggaes bouncing rhythms, speaking to the downtrodden and disenfranchised, caused a sensation in the caribbean. Get up, stand up. Stand up for your rights. Marleys unique sound also caught the ear of british rock star eric clapton, who covered marleys song i shot the sheriff, bringing both reggae and marley himself to international attention. Bob marley and the wailers capitalized on their newfound fame by producing a string of hit albums, featuring such classic tunes as no woman, no cry and one love people get ready. When he says everythings going to be all right, you know that theres somebody talking whos been through tough times and whos seen that there is light at the end of the tunnel. So that i think is one of the reasons why he appeals to people who feel like theyre not understood who feel like theyre oppressed. In the meantime, marley had married rita anderson, with whom he had four children. He would father 14 children in all, most of whom inherited his musical gift, just as he had inherited it from his parents. My whole familys musicians. It started from before my father. My father get his talent from somewhere else too, understand, and from the almighty first, but it is also inheritance. Bloodwise. My grandmother is a musician and a singer. And my grandauntie, the whole family throughout the lines, is musicians. With marleys energy, joyousness, and uncanny ability to connect with audiences, he seemed like he might just change the world but in a shocking turn of events, he was diagnosed with cancer and on may 11, 1981, he died. My father came here to do a job and he was an angel, you know . And he did it, he did what he had to do. I start to understand that more and more marley was buried with his guitar but the music they made together still resounds in every corner of the globe. He is, i think, probably numerically the most listened to artist in the world i would think. Because not only is he listened to in the western world, so to speak, hes listened to in latin america hes huge, in indonesia hes huge, in india, in tibet, and the message of freedom, and of tolerance, and of overcoming the tribulations of your life is one that we can all at one stage or another in our lives relate to. It was a political transformation unequaled in modern times. A man branded a terrorist and given a life sentence for attempting to overthrow the state, emerges from prison a quartercentury later to become that states elected leader. The man was Nelson Mandela and his historic swearingin as president of south africa occurred this week in 1994. Nelson mandela i accordingly declare mr. Nelson Rolihlahla Mandela duly elected president of the republic of south africa. Nothing could have underscored south africas change more vividly than the countrys first black president being sworn in. Mandelas greetings to poltiical foes set the theme reconciliation. In every way, it was a day like no other. Im excited like a young boy. This is a parliament weve been storming all these years, and finally through negotiation the doors are open. And they were open to sights never before seen here an african praise singer. The old guard didnt seem quite sure what to make of it. It was a dizzying time for many in south africa. For 300 years,y an oppressive white minority the afrikaners, descendents of dutch settlers who made up just over five percent of the population. In 1948, the brutal system of racial segregation called apartheid became official government policy. Mandela, a member of the royal family of the now suppressed xhosa clan, became one of many young antiapartheid revolutionaries who fought the s both officially through the anc, the African NationalCongress Party and through more covert means, including sabotage. In 1961, he was convicted of conspiracy and sentenced to life in prison. But though kept far from view, mandela remained vivid in south africans consciousness, where his reputation seemed to grow with each passing year. He was increasingly seen as the countrys savior. I knew and the people of this country knew that mandela will lead this country to freedom. South africa needs Nelson Mandela the world needs Nelson Mandela finally, after years of worsening violence and growing international pressure, south africa released mandela. At 70, he emerged from prison after 27 years, reassumed leadership of the anc and negotiated with south africas president f. W. De klerk for the abolition of apartheid. But it was the 1994 election that proved how very far the country had come. After seven days of counting and controversy, officials made official what everyone already knew. Nelson mandelas anc won big. In the final tally, more than 62 percent. The president elect was gracious. Every Political Party which is involved in the government of national unity, must feel that they are sharing. The outgoing president , whose party came in second, was gracious too. We will find it possible to cooperate constructively with each other. The outcome was expected; but a lovefest wasnt. Yesterday all parties were accusing the others of fraud. Today they were having a party, declaring the elections. To have been substantially free and fair. Mandela climaxed his unprecedented rise from prisoner to president in his inauguration. It was the moment when the man and the myth became simply, mr. President. Will you please raise your right hand say, say help me god . So help me god. The inauguration of Nelson Mandela was hailed as everything from a miracle unfolding to a historic moment for the whole world. With his eldest daughter at his side, mandela called it emancipation. The time for the healing of the wounds has come. The moment to bridge the chasms that divide us has come. The time to build is upon us. He hailed outgoing president f. W. De klerk as a man of vision, courage and integrity, and then shared the moment of triumph. And millions watched it on video screens across the country. When the momentum of the moment slows, mandela faces the enormous task of meeting the hopes and aspirations he has raised, to say nothing of fulfilling Campaign Promises made to the voters who brought him here. Right now, they back him. We people of south africa, we must know that mandela is not god, to create everything just like that. I hope he can deliver what he promises. But millions of squatters need homes; unemployment among blacks is enormous. Can mandela change that in the next five years . To have a chance, hell need foreign loans and investment. Todays guest list showed south africa is no longer a pariah. It ranged from Vice President al gore to kings, princes, yasir arafat and even fidel castro. But the dignitaries were secondary. Today belonged to a people who proclaimed themselves free at last. Free from what mandela called, the human disaster of apartheid. Nelson mandelas term as president ended in 1999 but his influence on south africa continued and endures even after the death, at age 95, of the man known to many as the father of the nation. Still to come on through the decades, the crime that took years for justice to catch up and when the federal government chrysler confirmed today thatr. Its loss last year was just as bad as feared. A little more than one billion dollars. In any case, its the largest annual loss of any American Corporation ever. All still to come on our review of this week, through the decades. Of this week, through the decades. We turn now to the consequences and the long chase for justice that followed the brinks robbery of 1981. Three and a half years of using false identities and hiding out in safe houses ended today for marilyn jean buck. The fbi says buck and a companion were arrested in a new york suburb. Buck was one of several radicals charged in connection with a 1981 robbery of an armored truck. A brinks guard and two policemen were killed in the robbery and a later shootout. On october 20, 1981, about 20 miles north of manhattan in nanuet, new york , a coalition of underground radicals ambushed a brinks armored car. They killed a security guard, wounded another and made off with onepointsix Million Dollars but they did not make a clean escape. A second shootout followed when police pulled over the getaway truck. Two more officers were killed, three of the robbers were arrested and a significant portion of the stolen money was recovered but this was a saga that was far from over. A high speed chase through new york city streets today ended in a blaze of gunfire that left one man dead and police say that may be linked to tuesdays bungled bloody hold up of an armored car. The bullets today punctuated an everwidening episode of raids and searches that turned up weapons and hit lists authorities connect to a new york Police Killed one man and arrested another today after a chase and shootout near shea stadium. Police say they went after their car because the license plates indirectly linked the vehicle withtuesdays onepointsix Million Dollar hold up attempt that left two Police Officers and brinks truck guard dead. Police have raided at least five apartments in the metropolitan area finding weapons, bomb materials and bloody clothing. Police speculate the apartments to be used as bomb factories and safe houses. They also found lists of Police Officers and plans for police stations and Court Buildings all apparently targeted for future attack. The brinks robbery was linked to members of the black Liberation Army and a group known as the may 19 communist organization. Obviously the federal bureau of investigation is looking into the possibility that this group was engaged in other similar activities that would give rise to a prosecution under the federal racketeering the fbi embarked on a relentless search to track down the remaining fugitives and anyone who may have offered their support to the people involved in the crime. About a hundred fbi agents from several states converged around six this morning on a farmhouse in gallman, mississippi. Police confiscated a van at the farmhouse believed to be the same van spotted outside a mount vernon, new york apartment used by some of the robbery suspects. Several months after the hold up, more accomplices and they violated state law, pure and simple. Theyve committed the most serious crime which is murder and they should be punished accordingly. But the job wasnt over. The wheels of justice kept spinning for a few more years dealing out convictions, heavy sentences and eventually catching up to marilyn jean buck, one of the getaway drivers. She was arrested on may 11, 1985 which left one oustanding fugitive, the ringleader of the entire operation, jeral wayne williams. He was finally captured nine months later and subsequently sentenced to 60 years in prison, strange and violent episode of american crime. When we return, the bailout of an auto giant to tune of over a billion dollarse decades. Tune of over a billion dollarse decades. male 1 its a Little Something ive done every night since i was a kid, empty my pocket change into this old jar. Its never much, just whats left after i break a dollar. And i never thought i could get quality Life Insurance with my spare change. Neither did i. Until i saw a commercial for the Colonial Penn program. Imagine people our age getting Life Insurance at such an affordable rate. Its true. If youre 50 to 85, you can get guaranteed acceptance Life Insurance through the Colonial Penn program for less than 35 cents a day, just 9. 95 a month. Theres no medical exam and no health questions. You know, the average cost of a funeral is over 8,300. Now thats a big burden to leave your loved ones. As long as youre 50 to 85, you cannot be turned down because of your health. Your premium never goes up and your benefit never goes down due to age. Plus, your coverage builds cash value over time. Call now for free information and a free gift. All i did was make a phone call and all of my questions about the Colonial Penn program were answered. It couldnt have been any easier and we both got the coverage we should have had for years now. Mmhm, with change to spare. laughing Colonial Penn jingle we turn now to the rescue package that brought an auto giant back from the brink. This week in 1980, the federal government approved a one and a half billion dollar loan to save chrysler. Singing 1957 chrysler. With a completely new transmission, a new pushbuttom torqueflight transmission. Smoother switfer acceleration for greater control in every driving range, new power too, new v8s with greater all around performance and heres the proudest expression of the forward look. During the middle of the Twentieth Century chrysler along with ford and gm established the American Automotive style setting the trend for big, powerful machines. But in the 1970s that trend ran into trouble. An oil crisis created a surge in gas prices and forced new emissions chrysler struggled to adapt and. By the end of decade appeared to be on the verge of bankruptcy. Chrysler confirmed t its loss last year was just as bad as feared. A little more than one billion dollars. In any case, its the largest annual loss of any American Corporation ever. In the midst of its financial failings, chrysler brought on former ford executive, lee iacocca. To stop the bleeding, iacocca started laying off workers and divesting the company of its Europe Division but he realized neither would be enough to save chrysler. So, he appealed to the u. S. Government for a federal loan asking for onepointfive billion dollars. By no means was it an easy sell but rather than watch the countrys number three automaker go belly up, on may 10, 1980, the record loan was approved. It became official this afternoon. The federal government will bail Chrysler Corporation out with a massive Loan Guarantee package. Treasury secretary g. William miller who announced the bailout today said without it, the nations third ranking automaker wouldve been broke by the end of the month. If all of you unanimously determine that this operating plan and financing plan submitted by chrysler gives reasonable prospects for the company to achieve its operating goals and to be able to finance itself after december 31, 1983 without further federal guarantees so i think the prospects based on the independent judgement of five officials would bode well for the future of chrysler. This decision by the Loan Guarantee board is good news for chrysler and for the entire country. It represents a key step in the preservation of approximately 500,000 jobs. It will help establish Chrysler Corporation as a strong competitor in the market of the 1980s. As part of the deal, chrysler had to find another two billion dollars in nonfederal assistance which required more layoffs. Its difficult. How many notches can you pull in the belt . Youve got to stop doing something. We have stopped doing certain things in the product area. The poor worker, hes made a lot of sacrifices already. Our workers are being asked to make one hell of a sacrifice there on what they thought they were gonna get and what were proposing to them. Chrysler was able to raise the necessary capital and with it, began its turnaround with the fuel efficient kcar series. Rolling off chryslers Assembly Line today was the k car, the corporation hopes will be the equivalent of a box office smash. The popularity of the new cars may well decide chryslers future. Board chairman lee iacocca drove the first one off Assembly Line to the applause of employees. We were the microcosm of everything wrong in this country. A little bit too much regulation. No innovative tax policies, Capital Formation but mostly fuel energy policyif there hadnt been an iranian crisis, if gas hadnt jumped in 30 days from 65 to a buck 30, we wouldve been better equipped than we were. The kcar reenergized chrysler and within a few years, the company paid of its government loan and began turning a profit. Chrysler made a comeback. By the mid1980s, it was again the but if history teaches usives. Anything, its that nothing lasts forever. Monday on decades, well look back on the stories that define the powerful women of our time. Its all monday, may 16 on through the decades. Thatll do it for us today. Im bill kurtis. As we leave, one last look back at this week, through the decades. Vegas, a place where pbr history echoes amidst the glitz and the glamour. While j. B. Mauney lives for the lights of las vegas, the worlds number oneranked cowboy is hanging on to the top spot by a thread. He is down, but never count this man out. As a brigade of three brazilian riders remain hot on his trail. Shoots fabiano through the stratosphere two dark horses have emerged in the pbr. Jess lockwood, already a winner on the built ford tough series. Both rookies hot off their inaugural big league wins. Derek