News stories from Friday August 10, 1979

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

Governors of six states urged the administration to provide aid for the financially shaky Chrysler Corporation. They head key industrial states in which Chrysler has operations: Michigan, Missouri, New York, Ohio, Illinois and Delaware. [New York Times] A top aide is leaving the White House, the Carter administration announced. Robert Lipshutz, President Carter's counsel and close friend from Georgia, will resign, the first Georgian among the President's senior advisers to leave the White House in a reorganization that followed Mr. Carter's reassessment of his administration at Camp David. In another change Timothy Kraft, a presidential assistant, will leave to become manager of the Carter-Mondale re-election committee. [New York Times] Daniel Horgan resigned as President Carter's new personnel consultant after his name was linked to a state and federal investigation of the New Jersey Housing Finance Agency. He had just taken over the $47,500-a-year White House job. The former executive director of the National Democratic Committee had been Commissioner of the New Jersey Community Affairs Department, the Housing Finance Agency's parent agency. [New York Times] Cesar Chavez is fasting and marching again in California in an effort to renew the kind of public support that helped him establish the nation's first successful farm workers' union, which now faces a difficult period. [New York Times] A coalition of blacks, Hispanics and policemen is being organized by the Justice Department to head off racial conflicts over allegations of police misuse of deadly weapons. Gilbert Pompa, the department's Community Relations Service director, said that allegations of weapons misuse "has reached such crisis proportions that in some parts of the country an undeclared war has seemingly developed between minorities and the police." [New York Times] Fears of an environmental calamity have not been borne out as globs of crude oil washed up on the Texas Gulf Coast from the worst oil spill in history. But there is no way at this time to figure out how serious the slick's effects will be, according to a federal scientist. "There could be effects many, many years after the spill is over," he said. [New York Times] Richard Nixon has arranged to buy a condominium apartment in Manhattan following his withdrawal from the purchase of an East Side cooperative apartment when residents in the building objected for security reasons. Sources close to the condominium sale said that the former President has signed a $1 million purchase agreement for a 12-room apartment at 817 Fifth Avenue, at 63rd Street. [New York Times] Bess Myerson will run for the Senate next year, Mayor Koch said. "She's going to run, no question about that," Mr. Koch said, "and I'm going to be supporting her." Miss Myerson, the former Miss America and consumer advocate and writer and one of the Mayor's principal campaign aides, has said she was considering a race for Jacob Javits' Senate seat, but has not committed herself. [New York Times] France may stop its Concorde flights. French officials, who had insisted that there were no circumstances under which the Concordes would be grounded, now acknowledge that they may be forced to end the flights because of large annual operating losses. [New York Times] New peace talks on Namibia between the United States, four of its NATO allies and South Africa have been made possible by substantial concessions from Angola. Washington officials said Sir James Murray of Britain would present new proposals Monday in Pretoria. [New York Times] A political science meeting in Moscow is the first ever held in a Communist country. The more than 1,500 scholars from 47 countries gathering for the conference of the International Political Science Association include 30 delegates from Israel and about the same number from South Korea, whom the Soviet Union agreed to invite even though its has no diplomatic relations with those countries. [New York Times] Food exports will be controlled by Nicaragua's new revolutionary government "to defend the interests of the Nicaraguan people." The decree announcing the step was one of dozens of measures taken to help bring the country back to normal. [New York Times] Ecuador's new President pledged himself to the propagation of democracy and human rights throughout the hemisphere as he took office as his country's first elected leader after almost a decade of military and civilian dictatorships. Jaime Roldos Aguilera said in his inaugural address that Ecuador, while respecting the principle of non-intervention in the internal affairs of other nations, "reserves the right to conduct its bilateral relations case by case." [New York Times]

Stock Market Report

Dow Jones Industrial Average: 867.06 (+8.78, +1.02%)
S&P Composite: 106.40 (+0.91, +0.86%)
Arms Index: 0.52

	Issues	Volume*
Advances	995	26.10
Declines	458	6.23
Unchanged	419	4.41
Total Volume		36.74

* 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*
August 9, 1979	858.28	105.49	34.63
August 8, 1979	863.14	105.98	44.97
August 7, 1979	859.81	105.65	45.41
August 6, 1979	848.55	104.30	27.19
August 3, 1979	846.16	104.04	28.16
August 2, 1979	847.95	104.10	37.73
August 1, 1979	850.34	104.17	36.57
July 31, 1979	846.42	103.81	34.38
July 30, 1979	838.74	103.15	28.64
July 27, 1979	839.76	103.10	27.77