News stories from Wednesday August 22, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Prevention of the nuclear accident at the Three Mile Island plant in Pennsylvania last March might have been possible if the government had acted on three previous warnings, according to testimony before a presidential investigative commission. [New York Times]
- Nearly 1,000,000 people halted work for up to six minutes in what was termed a political protest against the government's handling of energy problems. The action, rare in the American labor movement, was organized by the United Automobile Workers and limited mostly to its members. [New York Times]
- Black leaders aired grievances against American Jews. More than 200 leaders and representatives of black groups said that Jews had supported black causes when it was "in their best interests to do so," but many in the group said that Jewish leaders had wanted Andrew Young to resign his post at the United Nations. [New York Times]
- Jimmy Carter accepted a Mideast plan recommended by his advisers, Robert Strauss, the special Middle East envoy, announced. They suggested that Washington abandon plans to sponsor a resolution on Palestinian rights in the United Nations Security Council later this week. In allowing Mr. Strauss to make the announcement, President Carter made him the spokesman on this crucial issue.
A resolution on Palestinian rights, which is to be debated tomorrow in the United Nations Security Council, faces a United States veto, which would kill the proposal. Washington sought in vain to postpone a debate, reportedly believing it would be ill-timed, in part because of strains in American talks with Israel and Egypt.
[New York Times] - Federal mass transit aid will rise by $3 billion if Congress approves the "windfall" profits tax on oil, Vice President Mondale announced. [New York Times]
- Hannibal, Mo., has set a major welcome tomorrow for Jimmy Carter, the first President to visit Mark Twain's hometown since Franklin Roosevelt was there in 1936. Officials and residents, putting politics aside, have pulled out all the stops. They bought $500 worth of new flags, painted "Welcome Carter" banners and spruced up the Mark Twain Boyhood Home and Museum and the Tom Sawyer board fence.
President Carter's Mississippi trip has gained momentum since he left St. Paul on the paddle wheeler Delta Queen Friday night. Ten thousand people gave him a tumultuous welcome in Burlington, Iowa.
[New York Times] - A new type of bank robber is responsible for the recent surge of holdups in New York City, law enforcement experts say. The average bank robber used to be an experienced criminal who worked with a heavily armed team on a few well-planned holdups. Today, the average robber is young, unemployed, a petty criminal who usually works alone. About half the time he is an unarmed note-passer who usually gets less than $1,000. Most are eventually arrested. Another factor, according to the experts, is a proliferation of bank branches apparently designed with little concern for security.
Banks "vulnerable" to robbery would be identified under new police department efforts to stem the sharp rise in holdups in New York City. Several hundred department members in civilian clothes are to pose as customers or employees in banks regarded as the most likely targets.
[New York Times] - Iranian Kurds were offered money in an apparent attempt by Ayatollah Khomeini to halt their revolt. The unofficial head of state said the Kurdish minority would be given one day's oil revenues, or about $75 million, but he warned their leaders that they would be punished harshly if they did not give up demands for autonomy. [New York Times]
- Indian elections are to be held in three months and the fractious lower house of Parliament was dissolved under orders by President Sanjiva Reddy as a result of a bitter power struggle. Mr. Reddy designated Charan Singh, who resigned three days ago as Prime Minister, to head a caretaker government until the election. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 885.84 (-0.17, -0.02%)
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 21, 1979 | 886.01 | 108.91 | 38.86 |
| August 20, 1979 | 886.52 | 108.83 | 32.30 |
| August 17, 1979 | 883.36 | 108.30 | 31.63 |
| August 16, 1979 | 884.04 | 108.09 | 47.01 |
| August 15, 1979 | 885.84 | 108.25 | 46.14 |
| August 14, 1979 | 876.71 | 107.52 | 40.91 |
| August 13, 1979 | 875.26 | 107.42 | 41.98 |
| August 10, 1979 | 867.06 | 106.40 | 36.74 |
| August 9, 1979 | 858.28 | 105.49 | 34.63 |
| August 8, 1979 | 863.14 | 105.98 | 44.97 |