away from the industrial base toward a service economy picked up speed, while the jobs in the large shipbuilding and garment industries declined sharply. The ports converted to container ships, costing many traditional jobs among longshoremen. Many large corporations moved their headquarters to the suburbs or to distant cities. At the same time, there was enormous growth in services, especially finance, education, medicine, tourism, communications and law. New York remained the largest city and largest metropolitan area in the United States, and continued as its largest financial, commercial, information, and cultural center. Like many major U.S. cities, New York suffered race riots, gang wars and some population decline in the late 1960s. Street activists and minority groups such as the Black Panthers and Young Lords organized rent strikes and garbage offensives, demanding improved city services for poor areas. They also set up free health clinics and other programs, as a guide for organizing and gaining "Power to the People." By the 1970s the city had gained a reputation as a crime-ridden relic of history. In 1975, the city government avoided bankruptcy only through a federal loan and debt restructuring by the Municipal Assistance Corporation, headed by Felix Rohatyn. The city was also forced to accept increased financial scrutiny by an agency of New York State. In 1977, the city was struck by the New York City blackout of 1977 and serial slayings by the Son of Sam. 1978–present The 1980s began a rebirth of Wall Street, and the city reclaimed its role at the center of the worldwide financial industry. Unemployment and crime remained high, the latter reaching peak levels in some categories around the close of the decade and the beginning of the 1990s. Neighborhood restoration projects funded by the city and state had very good effects for New York, especially Bedford-Stuyvesant, Harlem, and The Bronx. The city later resumed its social and economic recovery, bolstered by the influx of Asians, Latin Americans, and U.S. citizens, and by new crime-fighting techniques on the part of the New York Police Department. In 1989, New York City elected its first African American Mayor, David Dinkins. He came out of the Harlem Clubhouse. In the late 1990s, the city benefited from the nationwide fall of violent crime rates, the resurgence of the finance industry, and the growth of the "Silicon Alley", during the dot com boom, one of the factors in a