News stories from Tuesday August 10, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Stern tactics on G.O.P. Congressmen were adopted by the Reagan administration in support of its bill to increase federal taxes by $98.9 billion in the next three years. Administration officials said that cabinet members had been instructed in the presence of President Reagan not to campaign for any member of Congress who opposes the measure. One administration official described the political tactics as "hardball." [New York Times]
- A mandatory balanced budget plan was rebuffed by the nation's governors by a single vote. Democrats criticized the proposed constitutional amendment to require a balanced budget as unresponsive to economic hardship and mustered enough votes to prevent the three-fourths majority required for approval. Twenty-six governors voted for the proposal and 10 were opposed. [New York Times]
- Frank J. Coppola was executed in Virginia's electric chair, about an hour after Chief Justice Warren Burger had cleared the way by overruling a stay of execution granted by a federal appeals court judge. Mr. Coppola had insisted he was not guilty of the 1978 murder of a woman in Newport News of which he was convicted, but he asked to be executed to "rescue any semblance of dignity I have left" after four years on death row. [New York Times]
- High military spending was upheld by Defense Secretary Caspar Weinberger. In an interview, Mr. Weinberger said that congressional efforts to force President Reagan to hold down the spending proposed for the fiscal years 1989 and 1985 were based on "wishful thinking." [New York Times]
- Random murders of 22 young women are believed to have been committed by a 28-year-old bus mechanic who is being held by the police in Houston. Officials believe he killed nine women in Houston over 13 months and 13 others in Michigan, Ontario and other parts of Texas. [New York Times]
- John W. Hinckley's confinement may well last the rest of his life. The presidential assailant has been committed to a mental hospital indefinitely, and a leading specialist said he doubted that Mr. Hinckley could ever be freed. "The best indicator of future violent behavior," he said, "is past violent behavior." [New York Times]
- Sun Myung Moon was upheld by a federal district judge who ruled that his conviction for tax evasion could not be used by immigration officials as ground for deportation. The ruling by Judge Gerard Goettel does not preclude officials from raising other grounds for deportation. [New York Times]
- An inquiry of Frederick W. Richmond has prompted the Justice Department to prepare to seek an indictment of the Democratic Representative from Brooklyn on assertions involving false income tax returns, according to law enforcement officials. [New York Times]
- Israel accepted most peace proposals on the siege of Beirut "in principle," but continued to insist that most of the Palestinian fighters trapped there leave before the arrival of any members of an international peacekeeping force. The Israeli cabinet also said it must receive in advance a "full list" of the Arab countries planning to accept the Palestinians and that the numbers leaving must be "absolutely equivalent to the number of terrorists" in Beirut, estimated at 6,000 to 9,000. [New York Times]
- Syria said it was willing to accept all the fighters that leaders of the Palestine Liberation Organization wanted to send to Damascus. The reversal of policy came as several other Arab countries were reported to have agreed to accept Palestinians. [New York Times]
- Israeli jets again attacked positions held by Palestinians on the fringe of west Beirut as the Palestine Liberation Organization prepared lists of its fighters and their proposed destinations under the peace proposals negotiated by the American special envoy, Philip Habib. A key problem appeared to be resolved by an offer by Iraq to accept any Palestinians not wanted by other countries. [New York Times]
- Argentina can obtain French arms for the first time since Argentine forces seized the Falklands April 2. The end of Paris' embargo on the sales opens the way for the delivery of jet fighters armed with the kind of sophisticated missiles that sank two British ships during the Falkland conflict. [New York Times]
- The administration was rebuffed by the House Foreign Affairs Committee. Voting 22 to 12, the panel approved a bill that would repeal sanctions imposed to prohibit the sale of equipment for a Soviet natural gas pipeline to Western Europe. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 779.30 (-1.05, -0.13%)
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 9, 1982 | 780.35 | 103.08 | 54.56 |
| August 6, 1982 | 784.34 | 103.71 | 48.65 |
| August 5, 1982 | 795.85 | 105.16 | 54.69 |
| August 4, 1982 | 803.46 | 106.14 | 53.44 |
| August 3, 1982 | 816.40 | 107.83 | 60.48 |
| August 2, 1982 | 822.11 | 108.98 | 53.48 |
| July 30, 1982 | 808.60 | 107.09 | 39.27 |
| July 29, 1982 | 812.21 | 107.72 | 55.67 |
| July 28, 1982 | 811.83 | 107.73 | 53.84 |
| July 27, 1982 | 822.77 | 109.43 | 45.73 |