News stories from Monday May 14, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Sex bias in education was set back by the Supreme Court, which ruled that the law gives individuals the right to bring sex-discrimination lawsuits against schools and colleges. The 6 to 3 decision reversed a federal appeals court ruling that only the federal government could bring such suits. [New York Times]
- A national health insurance bill was proposed by Senator Edward Kennedy. He challenged President Carter to back the plan, which would guarantee complete health care to all Americans. The Massachusetts Democrat said that the plan would add $28.6 billion a year to the federal budget and $11.4 billion to industry and individual health costs when fully operating three years after enactment. [New York Times]
- Robert Dole seeks the presidency. The Republican Senator announced his candidacy to a hometown audience of friends, school bands and fellow veterans in Russell, Kan., saying he was committed to getting the American people to "believe in themselves again" instead of relying on Washington. Senator Dole is expected to face a hard campaign because he does not seem to have broad support. [New York Times]
- Marijuana smuggling was admitted by an American being held for ransom by Indians in a remote Colombian village. Roy McLemore, a pilot and former country and western musician, said in a telephone call to a Houston official that he and a Houston fireman, who is under arrest in a Colombian hospital, had landed their plane in Colombia two weeks ago to pick up a large amount of marijuana destined for the United States. [New York Times]
- The Ku Klux Klan is the target of a new drive by the federal authorities following rising and increasingly violent tactics by the racist organization. Federal indictments have been brought against a score of Alabama Klansmen on charges ranging from shooting into the homes of blacks to an alleged conspiracy in which a Klansman, posing as an F.B.I. agent, handcuffed a man and beat him severely. [New York Times]
- An economy-minded House cut an additional $2.5 billion from its own version of the 1980 budget and then voted to accept the financial package .by a vote of 220 to 184. The final target figures adopted by the House showed a deficit of $20.9 billion. [New York Times]
- Gasohol was sold on Long Island, the first sale to the public in the Northeast. The initial purchases of the mixture of nine parts of unleaded gasoline and one part alcohol were made at a service station in the Suffolk County village of Shirley. Officials assured questioning buyers that gasohol was "good for your car," "good for the country" and no cause for worry. [New York Times]
- An arms accord faced a new hurdle as Turkey announced that it would allow American U-2 planes to fly over its territory to check on Soviet compliance with the arms limitation treaty only if Moscow approved such flights. The statement raised again the question of whether the accord could be adequately verified. [New York Times]
- Chile's Chief Justice rejected a request for the extradition of three Chilean army officers indicted in Washington in the 1976 murder there of Orlando Letelier, a former Chilean Foreign Minister. The United States plans to appeal the ruling. [New York Times]
- Arab opposition to Egypt over Cairo's peace treaty with Israel resulted in the disbanding of an organization that was founded in 1975 to try to make the Arabs' more self-reliant in weapons. Saudi Arabia announced dissolution of the $1.4 billion dollar consortium, effective July 1. [New York Times]
- A charge that troops killed 100 students last month in the Central African Empire was made by Amnesty International, which said the youths had objected to wearing uniforms to school. The Paris section of the human rights organization cited "numerous, varied and reliable sources, both African and European," for its charge. [New York Times]
- U.S.-Taiwan relations are anomalous following Washington's severing of diplomatic ties. American Navy ships continue to make unpublicized visits to the island's ports and Nationalist military forces are still being trained in the United States with U.S. arms. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 825.02 (-5.54, -0.67%)
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* |
| May 11, 1979 | 830.56 | 98.52 | 24.01 |
| May 10, 1979 | 828.92 | 98.52 | 25.23 |
| May 9, 1979 | 838.62 | 99.46 | 27.67 |
| May 8, 1979 | 834.89 | 99.17 | 32.72 |
| May 7, 1979 | 833.42 | 99.02 | 30.49 |
| May 4, 1979 | 847.54 | 100.69 | 30.63 |
| May 3, 1979 | 857.59 | 101.81 | 30.86 |
| May 2, 1979 | 855.51 | 101.72 | 30.51 |
| May 1, 1979 | 855.51 | 101.68 | 31.05 |
| April 30, 1979 | 854.90 | 101.76 | 26.44 |