News stories from Friday January 15, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A key inflation index moderated, according to the Labor Department. It said that the Producer Price Index for finished goods rose three-tenths of 1 percent in December and was up only 7 percent for all of 1981 -- the lowest annual increase since 1977. As the year ended, producer prices were rising at an even slower annual rate. [New York Times]
- Speculation on the cause of the crash of an Air Florida jetliner in Washington Wednesday focused increasingly on the ice that had formed on the craft in a severe snowstorm. The pilots of a nearby taxiing airliner said they had seen a considerable buildup of ice on the Boeing 737 on its takeoff run just before it crashed into the Potomac. The accident took 78 lives. [New York Times]
- Nancy Reagan is accepting clothing, ranging from high-design sportswear to elaborate gowns, as loans and gifts from leading American couturiers. A White House spokesman said that the First Lady was accepting and wearing the clothes, valued at many thousands of dollars, to benefit the American fashion industry and its workers and would eventually give many of the clothes to museums. [New York Times]
- Major concessions by the Teamsters, made in the hope of protecting 300,000 jobs, were said to have been included in a tentative contract agreement reached by the union and the financially-troubled trucking industry. [New York Times]
- Another antitrust case was won by business. Voting 3 to 1, the Federal Trade Commission agreed with an earlier recommendation to dismiss the 10-year-old suit against the three biggest cereal makers, Kellogg, General Mills and General Foods. [New York Times]
- A conviction in a major hotel fire was decided on by a jury in Las Vegas after seven days of deliberation. Philip Cline, a 24-year-old former busboy, was found guilty of murder and arson in the blaze last February at the Las Vegas Hilton that took eight lives and injured 200 persons. The prosecutor will seek the death penalty. [New York Times]
- A decision not to seek re-election was announced by Governor Carey of New York. He also said he would devote himself instead to a yearlong battle to make New York "compassionate and competitive." Mr. Carey, whose standing in the polls has been falling, appeared at ease and in good humor, but approached tears at the end of his statement as his top aides and staff members gave him an ovation.
An unusually crowded primary for the Democratic nomination for Governor was set in motion by Governor Carey's dramatic withdrawal. Potential candidates and their aides began at once the maneuvering that is likely to result in a spate of official announcements in the next two months.
[New York Times] - The objectives of Solidarity were discussed by the highest-ranking leader of the suppressed Polish union who is still at large. Answering questions carried by intermediaries, the union official, Zbigniew Bujak, said that Solidarity was continuing its activities underground and was prepared for a long, nonviolent struggle for democracy. [New York Times]
- Syria put off a United Nations vote when Damascus discovered it lacked the minimum support needed for passage of a Security Council resolution to punish Israel for its annexation of the Golan Heights. Western diplomats said that the situation arose when the United States persuaded Zaire and Panama to drop their support for a resolution to halt arms shipments and economic aid to the Israelis. [New York Times]
- Wide suppression in Ghana has ac-companied the Dec. 31 coup led by Jerry Rawlings, a former flight lieutenant. The new military-backed regime has dismantled or repressed most democratic institutions and reportedly imprisoned more than 200 political figures. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 847.60 (+5.32, +0.63%)
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 | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| January 14, 1982 | 842.28 | 115.54 | 42.94 |
| January 13, 1982 | 838.95 | 114.88 | 49.13 |
| January 12, 1982 | 847.70 | 116.30 | 49.80 |
| January 11, 1982 | 850.46 | 116.78 | 51.90 |
| January 8, 1982 | 866.53 | 119.55 | 42.04 |
| January 7, 1982 | 861.78 | 118.93 | 43.42 |
| January 6, 1982 | 861.02 | 119.18 | 51.50 |
| January 5, 1982 | 865.30 | 120.05 | 47.50 |
| January 4, 1982 | 882.52 | 122.74 | 36.75 |
| December 31, 1981 | 875.00 | 122.55 | 40.78 |