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Thursday February 15, 1979
. . . where the 1970s live forever!

News stories from Thursday February 15, 1979

Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • Jimmy Carter faces trouble in New Hampshire, where the first 1980 presidential primary will be held. His energy and anti-inflation policies are unpopular, Democrats are actively considering alternative candidates and the latest poll shows Senator Edward Kennedy to be the choice by a 2 to 1 margin among registered voters for the nomination. [New York Times]
  • Ways to end sex discrimination in the Social Security system were proposed in a government study that was hailed by women's groups as a major breakthrough for both working and non-working women. The 323-page report was made public by Joseph Califano, Secretary of Health, Education and Welfare, who acknowledged that benefits in the system were discriminatory and had become outmoded. [New York Times]
  • Cities' transit-related improvements will be considered by the Carter administration in a new $200 million program, Transportation Secretary Brock Adams announced. The administration said that the program could be used effectively to match investments from other public sources and from the private sector. [New York Times]
  • New variables in global climate have not occurred in recent years, according to the nearly unanimous view of participants at the World Climate Conference in Geneva who have done systematic studies of past records. One scientist said that recent extremes conformed to probability. [New York Times]
  • A retrial for Daniel Flood, the 75-year-old Pennsylvania Democrat who has served 16 terms in Congress, will be sought by the Justice Department. His first trial on bribery, conspiracy and perjury charges ended Feb. 3 in a hung jury, with only one juror holding out for acquittal on all 11 counts. [New York Times]
  • California acted illegally when it gave local governments $5 billion last summer to help cover revenue losses from Proposition 13 but forbade use of the funds for raises for public employees, the state Supreme Court held. The ruling left standing some provisions of the "bailout" law, but restored to local governments some of the fiscal decision making that the state had tried to remove as a condition of getting the money. [New York Times]
  • Energy conflicts in New England are the deepest in the nation. The disputes, involving environmentalists, utilities, fishermen, farmers, oil companies, businessmen and government agencies, have greatly intensified since the 1973 Arab oil embargo. The nation's inability or unwillingness to resolve energy problems is reflected most in the six states, where 80 percent of energy depends on oil and 79 percent of that oil is imported. [New York Times]
  • An abortion clinic was set ablaze in Hempstead, Long Island, by a man using gasoline and a torch. More than 40 staff members and patients fled as flames heavily damaged the clinic and burned the arson suspect, who was the only person hurt. [New York Times]
  • Leftist guerrillas in Iran were accused by three top officials of the new Islamic regime of mounting attacks on government installations and foreign embassies in Teheran with the aim of spreading fear and disorder and undermining the government. Other assaults, the officials said, were instigated by agents of the supposedly defunct secret police.

    Iran's government expressed regret at Washington's decision to begin evacuating most of the remaining Americans from Iran over the weekend, but promised protection and the services needed to move out 1,000 a day.

    Washington accused Moscow of efforts to help foment anti-American actions in Iran and of playing a decisive role in the shootout that led to the slaying of the American ambassador after he had been abducted in Afghanistan. The anger of government leaders led some officials to predict that chances were dimming for conclusion soon of the arms limitation treaty. [New York Times]

  • President Carter sought to counter an impression of coolness and divisiveness that resulted from his opening talks with President Jose Lopez Portillo in Mexico City. They conferred for three hours on such major issues as Mexican oil and aliens that have divided the two countries. [New York Times]
  • A North and South Korean meeting is scheduled this weekend at Panmunjom. It will be their first significant contact since 1973. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 829.09 (-0.69, -0.08%)
S&P Composite: 98.73 (-0.14, -0.14%)
Arms Index: 0.90

Total Volume22.55
* in millions of shares

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
February 14, 1979829.7898.8727.22
February 13, 1979830.2198.9328.47
February 12, 1979824.8498.2020.61
February 9, 1979822.2397.8724.32
February 8, 1979818.8797.6523.36
February 7, 1979816.0197.1628.45
February 6, 1979822.8598.0523.57
February 5, 1979823.9898.0926.49
February 2, 1979834.6399.5025.35
February 1, 1979840.8799.9627.92

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