News stories from Thursday April 22, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A new approach to the federal budget was discussed by White House and congressional negotiators. Under the plan, the conferees would set only overall financial targets of spending and taxes and leave the politically thorny details to Congress. [New York Times]
- A White House-TV network dispute was generated by a CBS News documentary on the Reagan administration's economic program. The administration, asserting that the program, "People Like Us," reported by Bill Moyers, was "misleading," asked the network for a half-hour of prime time "to present our side of the story." CBS News rejected the request. [New York Times]
- A General Motors union protest prompted a retreat by the auto maker, which agreed not to pay its executives bonuses for which they might qualify under a more generous bonus plan G.M. proposed only last week. Under the recently-concluded contract, unionized workers agreed to make about $2.5 billion in wage and benefit concessions to the company, and management agreed to make equivalent sacrifices. [New York Times]
- An anti-arms drive in the South has broad-based and rising support despite the region's long reputation for being conservative, intensely patriotic and pro-military. A college teacher in Arkansas, expressing a widely held view, said that the number of street proteaters did not reflect the number of Southerners who deeply oppose nuclear weapons. [New York Times]
- Richard Nixon was hailed in a nostalgic return to his native Orange County, Calif. There were three standing ovations and a lot of praise for the former President at a Republican dinner in Disneyland. [New York Times]
- Salvadoran rightists took control of the new Constituent Assembly, blocking the centrist Christian Democrats from all key legislative posts. The right-wing coalition elected Roberto d'Aubuisson, head of an ultra-rightist party, to be president of the assembly, and elected right-wing candidates to the nine other leadership positions. The action followed reports that a coalition of the centrists and a conservative party, backed by the military, planned to name a moderate as provisional President. [New York Times]
- U.S.-British talks on the Falklands were held for four hours in Washington. Foreign Secretary Francis Pym said that he and Secretary of State Alexander Haig had made "a useful start" in discussing the latest ideas for resolving the British-Argentine dispute. There was surprisingly little sense of crisis surrounding the meeting even though the British flotilla was believed to be only a few days away from the islands. [New York Times]
- Continued negotiations over the Falklands are agreeable to Argentina, but it insists it will fight to hold the islands. The statements were made by President Leopoldo Galtieri on his first visit to the archipelago since Argentina seized it April 2. [New York Times]
- Comments by British leaders appeared to be contradictory, creating puzzlement in London and abroad about Britain's strategy in the Falklands dispute. To a degree the ambiguity has a diplomatic intent, to keep the Argentine junta off balance, and a political intent, to satisfy differing views among Britons. [New York Times]
- Bonn opposes an arms freeze. The governing Social Democratic Party, at a national convention, rejected a proposal designed to halt preparations for the deployment of new American medium-range nuclear missiles in Western Europe. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 853.12 (+9.70, +1.15%)
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* |
| April 21, 1982 | 843.42 | 115.72 | 57.81 |
| April 20, 1982 | 840.56 | 115.44 | 54.60 |
| April 19, 1982 | 846.08 | 116.70 | 58.46 |
| April 16, 1982 | 843.42 | 116.81 | 55.89 |
| April 15, 1982 | 839.61 | 116.35 | 45.69 |
| April 14, 1982 | 838.09 | 115.83 | 45.15 |
| April 13, 1982 | 841.04 | 115.99 | 48.66 |
| April 12, 1982 | 841.32 | 116.00 | 46.51 |
| April 8, 1982 | 842.94 | 116.22 | 60.18 |
| April 7, 1982 | 836.85 | 115.46 | 53.14 |