News stories from Thursday August 12, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Tax negotiators broke a deadlock on welfare spending in the House-Senate conference on the bill to raise $98.9 billion in new revenue over the next three years. The committee completed approval of the spending portion of the measure, which would cut expenditures by $17.5 billion, and then took up the tax portion. [New York Times]
- Henry Fonda died of chronic heart disease at the age of 77. For nearly half a century, Mr. Fonda personified a man of honesty and decency in more than 100 film and stage roles. He was noted for dedication to his craft and was regarded by many critics as one of the great American actors. [New York Times]
- Wilderness areas would be protected from oil and natural gas exploration under a bill approved overwhelmingly by the House in opposition to the policy of Interior Secretary James Watt. By a vote of 340 to 58, the House withdrew from all development 30 million acres of wilderness, most of it in National Forests. [New York Times]
- Nuclear protesters were sprayed with fire hoses from Coast Guard boats as a small flotilla demonstrated against the arrival of the nation's first Trident submarine in its home port in Washington State. Six persons aboard the 38-foot trimaran Lizard of Woz were washed overboard or jumped to avoid the blasts of water from the high-pressure hoses. Officials reported there were no injuries. [New York Times]
- Tennessee's prisons were deplored by a federal district judge who labeled some parts of the system "unfit for human habitation." In a 171-page ruling, Judge L. Clure Morton gave the state 30 days to select an overseer and six months to submit plans for correcting what he called unconstitutional conditions. [New York Times]
- Mail deliveries after a nuclear war were promised by the United States Postal Service in a 300-page plan for continuing service in any national emergency. The program was ridiculed by members of a House subcommittee and denounced by several private critics as "deceitful," "futile" and "idiotic." [New York Times]
- Israeli jets bombed west Beirut for 11 hours, and the Lebanese authorities responded by suspending the negotiations on a withdrawal of Palestinian guerrillas from Lebanon. A source involved in the talks said that the key Lebanese intermediary had telephoned Philip Habib, the special United States envoy, as the Israeli jets were overhead and told him to "go home." [New York Times]
- Israel halted the bombardment of west Beirut after a stormy confrontation between the cabinet and Defense Minister Ariel Sharon, who had ordered the raid. Israeli radio and television reported that the American Ambassador had delivered a message to Prime Minister Menachem Begin during the meeting warning that if the bombing was not halted, the special American envoy, Philip Habib, would drop his efforts to negotiate an end to the siege of Beirut. [New York Times]
- The President expressed "outrage" to Prime Minister Menachem Begin over Israel's bombardment of west Beirut, saying the attacks had caused "needless destruction and bloodshed." It was the sharpest statement by Mr. Reagan since the start of the Israeli invasion of Lebanon. [New York Times]
- France tightened security in an effort to halt a wave of bombings and shooting attacks, mainly in Paris and mainly arising from the war in Lebanon. The government announced that hundreds of extra police officers had been dispatched to keep order around embassies and other "sensitive" places. [New York Times]
- The ban on pipeline equipment sales to the Soviet Union for supplying Western Europe with natural gas from Siberia was formally protested by the European Economic Community as "an unacceptable interference" in European affairs. Key Western allies have announced they will defy the ban imposed by the Reagan administration. [New York Times]
- Salvador Sanchez was killed when his car collided with a truck on a highway outside Mexico City. The 23-year-old fighter held the World Boxing Council's featherweight title. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 776.92 (-0.29, -0.04%)
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 11, 1982 | 777.21 | 102.60 | 49.04 |
| August 10, 1982 | 779.30 | 102.84 | 52.65 |
| 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 |