News stories from Thursday August 14, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The President was in a battling mood as he accepted the Democratic nomination for a second term, declaring that the 1980 election offered voters "a stark choice" between rival visions of the nation and sharply attacking the Republicans for offering a "fantasy America" of "simple and wrong solutions." Mr. Carter praised the "idealism and dedication" of his defeated rival, Senator Edward Kennedy, who joined him on the podium for the traditional show of party unity. Earlier, the convention delegates went through the ritual roll call renomination of Vice President Mondale. [New York Times]
- Democratic infighting ended after nine months as the delegates showed an eagerness to fight the Republicans instead of each other. The convention cheered as President Carter appealed to the nation to support the party in November and as Vice President Mondale offered sharp-edged attacks on Ronald Reagan. Rising support for President Carter was indicated by many Kennedy partisans, but their backing was generally reluctant and lukewarm.
Exploiting Reagan "weaknesses" will be a major aim of the Carter campaign, which is basically well organized and can now count on a considerable degree of Democratic unity. The President's forces hope to cut deeply into Ronald Reagan's lead in the polls through televised debates.
[New York Times] - Targeting "the Carter record" as President will be the core of Ronald Reagan's campaign, according to his aides. They said that the Republican candidate would press an offensive, making the President's performance the issue, working to broaden Mr. Reagan's appeal and refusing to be put on the defensive. [New York Times]
- Inflation will level off at an annual rate of about 10 percent this year and most of next year despite the prospect of higher food prices, many economists predict. They attribute the respite from the inflationary spiral of recent years mainly to a halt in the rise in energy costs, a sharp decline in mortgage interest rates and prospective gains in productivity. [New York Times]
- Reopening of the nuclear plant at Three Mile Island near Harrisburg. Pa., was urged by the Nuclear Regulatory Commission, which said that the disabled plant could be decontaminated and its radioactive wastes could be released with no significant risks. The agency said that sealing and abandoning the plant would pose even greater problems. [New York Times]
- Labor unrest in Poland spread as the 17,000 workers at a shipyard struck and took over the facility, dissidents in Warsaw said. The authorities resisted most of the strikers' demands, including the establishment of trade unions run by the workers. [New York Times]
- Iran's security head was in Washington shortly before the fatal shooting of an Iranian exile leader, according to evidence obtained by law enforcement officials. They said the apparent objective of the visit was to step up activities in support of Ayatollah Khomeini and against his critics. [New York Times]
- Seoul protested Washington's concern, expressed in official statements, over legal safeguards for Kim Dae Jung, the opposition leader, and 23 associates who are being tried by a military court for alleged sedition. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 962.63 (+13.40, +1.41%)
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* |
| August 13, 1980 | 949.23 | 123.28 | 44.37 |
| August 12, 1980 | 952.39 | 123.79 | 52.04 |
| August 11, 1980 | 964.08 | 124.78 | 44.69 |
| August 8, 1980 | 954.69 | 123.51 | 58.86 |
| August 7, 1980 | 950.94 | 123.30 | 62.37 |
| August 6, 1980 | 938.23 | 121.55 | 45.02 |
| August 5, 1980 | 929.78 | 120.74 | 45.51 |
| August 4, 1980 | 931.06 | 120.98 | 41.57 |
| August 1, 1980 | 931.48 | 121.21 | 46.43 |
| July 31, 1980 | 935.32 | 121.67 | 54.60 |