News stories from Wednesday December 15, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A tough new curb on the MX missile was voted by the Senate Appropriations Committee. It approved a $988 million appropriation for the purchase of the first missiles, but stipulated that President Reagan could not spend any of the funds until both houses of Congress ratified plans for deployment of the weapons. [New York Times]
- A deadlock on Social Security between Republicans and Democrats is threatening the future of the commission trying to agree on how to cover the projected deficits of the pension program. Alan Greenspan, chairman of the commission, said that because of the stalemate the panel might hold no further meetings. [New York Times]
- Pleas for homeless Americans were made by witnesses at a House hearing. Mayor Ted Wilson of Salt Lake City, citing the growing number of people suffering from cold, hunger and joblessness, called their plight "a national disgrace." [New York Times]
- The omnibus spending bill now moving through Congress is commonly called the "Christmas tree" bill. It contains scores of projects, grants, priorities and advantages whose merits are not considered individually by members. [New York Times]
- Major changes affecting telephones are arising because of decreased regulation. In coming years, more and more people will buy telephones from stores and catalogues and even from the Bell System at unregulated prices rather than renting them at rates set by the states. [New York Times]
- The Teamsters' leader was convicted along with four co-defendants of conspiring to bribe a Senator and of defrauding a teamsters' union pension fund. The federal jury in Chicago returned guilty verdicts on all 11 counts against each defendant after a seven-week trial and nearly 27 hours of deliberation. Roy Williams is the third president of the Teamsters' union to be convicted of a felony in federal court in 25 years. [New York Times]
- The F.A.A. system was blamed for an accident last Jan. 23 in which a DC-10 jumbo jet touched down about 1,000 feet beyond the normal landing point, ran off a runway and slid into Boston Harbor. The National Transportation Safety Board ruled that officials of the federal agency had failed to provide the pilots with adequate data on icy runway conditions. [New York Times]
- A lottery for Olympics tickets is being planned by officials organizing the 1984 Summer Games in Los Angeles. The plan, they said, is to have a computer select at random from among millions of applications for tickets. They are also seeking benfactors to pay $25,000 or more in return for two choice seats to the most popular events and tickets for about 50 poor children. [New York Times]
- Brazil is to receive $4.5 billion in credits over the next three years under an agreement reached by its government and a negotiating team for the International Monetary Fund setting the conditions for the credits. The credits, which could rise to $6.7 billion, are designed to help Brasilia resolve its liquidity crisis. [New York Times]
- Spain assured Washington that it would remain a loyal ally even though its new Socialist government has "frozen" the country's further integration into NATO. The pledge was made to Secretary of State George Shultz by Prime Minister Felipe Gonzalez. [New York Times]
- The panel investigating the killings of hundreds of Palestinian civilians in Beirut was informed by Defense Minister Ariel Sharon that he did not intend to exercise his right to reappear, to call witnesses or to introduce new evidence. But four other Israeli officials said they wished to testify again before the commission reached its final conclusions. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 992.64 (-16.74, -1.66%)
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* |
| December 14, 1982 | 1009.38 | 137.39 | 98.38 |
| December 13, 1982 | 1024.28 | 139.95 | 63.13 |
| December 10, 1982 | 1018.76 | 139.57 | 86.43 |
| December 9, 1982 | 1027.96 | 140.00 | 90.31 |
| December 8, 1982 | 1047.09 | 141.81 | 97.43 |
| December 7, 1982 | 1056.94 | 142.72 | 111.62 |
| December 6, 1982 | 1055.65 | 141.77 | 83.89 |
| December 3, 1982 | 1031.36 | 138.69 | 71.57 |
| December 2, 1982 | 1033.11 | 138.82 | 77.60 |
| December 1, 1982 | 1031.09 | 138.72 | 107.84 |