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Monday February 25, 1980
. . . where the 1970s live forever!

News stories from Monday February 25, 1980


Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • U.S. Winter Olympic athletes oppose President Carter's call for a boycott of the Summer Games in Moscow, according to Eric Heiden, the five-time gold-medal winner. Soon after the President, at a White House ceremony, had embraced the Olympians as "modern-day American heroes," Mr. Heiden announced that he had presented a petition expressing the athletes' anti-boycott position. [New York Times]
  • The delay over a release of hostages held in Iran increasingly frustrated State Department officials. They said they expected the international fact-finding commission now in Teheran to delay issuing a report on Iran's grievances against the deposed Shah and Washington if Iran does not agree to free the Americans by the time the report is finished. That is expected to take two weeks.

    An anti-American march by thousands was reviewed by President Abolhassan Bani-Sadr, other Iranian leaders and several of the captors of the American hostages. Meanwhile, testimony from Iranian jurists was taken in Teheran by the United Nations commission on Iran's grievances. [New York Times]

  • Moscow appeared to have taken charge of the Afghan capital of Kabul as anti-Soviet strikes virtually paralyzed the government. The regime's offices were unable to function for a third day as employees ignored broadcasts ordering them to return to work. A strike by shopkeepers also continued in protest against the presence of Soviet troops. [New York Times]
  • Allegations about Harrison Williams are to be presented to a grand jury, which will complete its work in 90 days, Justice Department officials informed the Senate Ethics Committee. The committee then deferred for 90 days its demand that the department turn over evidence in the federal investigation in which Senator Williams, a New Jersey Democrat, and seven Representatives allegedly received bribes from F.B.I. undercover agents. [New York Times]
  • New Hampshire voters heard pleas and promises from weary aspirants on the eve of the first major preference primary of the 1980 presidential campaign. The early high hopes of Senator Edward Kennedy's challenge to President Carter have sagged and face a major test. On the Republican side, polls rate Ronald Reagan and George Bush neck and neck. [New York Times]
  • The ozone layer remains in major peril despite the virtual elimination of Freon propellants from American spray cans, many scientists believe. They warn that unless such propellants are curbed worldwide and Freon emissions from air conditioners and other sources are diminished there will be increased incidence of skin cancer and other ailments linked with exposure to solar rays that ozone partially screens. [New York Times]
  • A nuclear power study disagrees with some aspects of American nuclear policy, concluding that in the future, new breeder reactors burning plutonium could offer substantial economic advantages to some countries. The two-year study forecasts a surge in the construction of atomic power plants around the world. [New York Times]
  • A dispute over reviving the draft occurred within the administration, a report revealed. In it, the Director of Selective Service strongly advised President Carter that military registration should be reimposed only after the President had ordered a mobilization in a national emergency. Mr. Carter overrode the advice. [New York Times]
  • "Kramer vs. Kramer" won a lion's share -- nine -- of the nominations for 1979 Academy Awards as expected. But unexpectedly, the tender movie about a father who struggles to become both parents to his 6-year-old son was matched in nine nominations for "All That Jazz," Bob Fosse's glittering, hard-edged choreography of his own heart attack. [New York Times]
  • Jacob Javits will seek a fifth term in the Senate. He made the annnouncement amid rising speculation about his plans. The 75-year-old Republican, who has served longer in the Senate than any other New Yorker, said that "the very critical state of our nation and world" had been a key factor in his decision. He said that doctors had found him "in good shape" despite a condition limiting his walking. [New York Times]
  • Jerry Brown was ousted from New York State's Democratic primary ballot after the State Board of Elections termed invalid nearly two-thirds of the signatures on petitions for the presidential candidacy of the California Governor. His staff requested a hearing in a state court, set for Wednesday, and he said he would pursue "all legal challenges." [New York Times]


Stock Market Report

Dow Jones Industrial Average: 859.81 (-8.96, -1.03%)
S&P Composite: 113.33 (-1.71, -1.49%)
Arms Index: 1.30

IssuesVolume*
Advances3155.57
Declines1,26329.14
Unchanged3554.43
Total Volume39.14
* in millions of shares

Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish.

Market Index Trends
DateDJIAS&PVolume*
February 22, 1980868.77115.0448.21
February 21, 1980868.52115.2851.54
February 20, 1980886.86116.4744.34
February 19, 1980876.02114.6039.48
February 15, 1980884.98115.4146.67
February 14, 1980893.77116.7250.55
February 13, 1980903.84118.4465.22
February 12, 1980898.98117.9048.08
February 11, 1980889.59117.1258.66
February 8, 1980895.73117.9557.86


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