Was an imminent Ice Age predicted in the '70's? No
From the latter:
"The state of the science at the time (say, the mid 1970's), based on reading the papers is, in summary: "...we do not have a good quantitative understanding of our climate machine and what determines its course. Without the fundamental understanding, it does not seem possible to predict climate..." (which is taken directly from NAS, 1975). In a bit more detail, people were aware of various forcing mechanisms - the ice age cycle; CO2 warming; aerosol cooling - but didn't know which would be dominant in the near future. By the end of the 1970's, though, it had become clear that CO2 warming would probably be dominant; that conclusion has subsequently strengthened."
I bolded the part about the NAS report, because that's the same report that was mentioned in the Newsweek article.
That's because there was no money to made in doing so.
Here is NASA's reply to global warming or cooling: insfficient data.
URL:
http://science.nasa.gov/headlines/y2000/ast20oct_1.htm