News stories from Monday November 8, 1982

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

Up to 200,000 new jobs could be provided in a public works plan ordered drafted by Senate Republican leaders as a possible alternative to a plan being developed by House Democratic leaders. The Republican leaders fear that their proposal may put them on a collision course with the White House, which has consistently sought to cut public works spending. [New York Times] A jailhouse fire killed 27 persons and injured at least 43 in Biloxi, Miss. The blaze in the county jail, one of the worst such fires in the nation's history, was believed by the authorities to have been set by a man being held on a "lunacy" charge. [New York Times] John De Lorean pleaded not guilty to charges of cocaine trafficking and racketeering. A federal district judge in Los Angeles set a tentative trial date of Jan. 7, and attorneys for the automotive executive said they would seek dismissal of the charges on the ground that government misconduct had generated unfair publicity about the case. A number of Mr. DeLorean's business associates have filed lawsuits against him and others said he had tricked and manipulated them. [New York Times] Investigators of the Tylenol deaths have compiled volumes of case reports, interviewed thousands of people, tested more than one million capsules and winnowed through thousands of telephoned leads. But, nearly six weeks after the first deaths from the cyanide-tainted capsules, not even a motive has been found. [New York Times] The Social Security Administration announced that $35,700 of an individual's earnings will be subject to the payroll tax in 1983, as against $32,400 this year. With the tax rate paid by employees and employers unchanged at 6.7 percent, the maximum tax payable by an employee will increase to $2,391.90, up $221.10. [New York Times] The first population turnaround in the nation's history was projected by the Census Bureau. It said it expected the population to reach a high of 309 million in the year 2050 and then to start declining because of a projected excess of deaths over the total of births and net migration. [New York Times] A key objective of the space shuttle is to be carried out soon after the Columbia is launched Thursday off Brazil. The shuttle is to deliver the first of two communications satellites into earth orbit. The planned five-day mission will also include the first "space walk" by shuttle astronauts. [New York Times] Menachem Begin told the panel investigating the killings of hundreds of Palestinian civilians in refugee camps in Beirut that he had not been informed in advance that Christian militiamen were being sent into the camps by the Israeli army. The Prime Minister testified under oath he learned of the operation only after it was underway. [New York Times] More and more Lebanese, both Moslems and Christians, are beginning to admit that Christian Phalangist militiamen were probably the killers of Palestinian civilians in the West Beirut camps. The Lebanese government contends that the Phalangists had no role in the slayings. [New York Times] The Pope will visit Poland next June under an agreement reached by the Roman Catholic Primate and the Polish military ruler. Permission for John Paul II's return was apparently granted to give the people an emotional release and a reason not to join Wednesday's national strike and street protest called by leaders of the outlawed union Solidarity. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1037.44 (-14.34, -1.36%)
S&P Composite: 140.44 (-1.72, -1.21%)
Arms Index: 1.49

	Issues	Volume*
Advances	614	18.85
Declines	1,056	48.37
Unchanged	332	8.02
Total Volume		75.24

* 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
Date	DJIA	S&P	Volume*
November 5, 1982	1051.78	142.16	96.55
November 4, 1982	1050.22	141.85	149.38
November 3, 1982	1065.49	142.87	137.01
November 2, 1982	1022.08	137.49	104.77
November 1, 1982	1005.70	135.47	73.52
October 29, 1982	991.72	133.71	74.87
October 28, 1982	990.99	133.59	73.59
October 27, 1982	1006.35	135.28	81.66
October 26, 1982	1006.07	134.48	102.07
October 25, 1982	995.13	133.32	83.72