News stories from Friday April 11, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Concrete action by allies against Iran was being sought by the United States after the decision of the Common Market foreign ministers Thursday to issue another verbal condemnation. A State Department spokesman, who did not conceal the administrtation's dissatisfaction, said that "more than rhetoric" was wanted and that ''we have appealed to our allies for concrete action and concrete steps are what we expect to see."
Iranians held a Unity Day rally to celebrate the breaking of diplomatic ties by the United States, while their leaders repeated their calls for the overthrow of Iraq's government. "We will be sure the Iraqi regime will be overthrown," President Abolhassan Bani-Sadr said. addressing hundreds of thousands of people who had gathered in Teheran. Reporters estimated that the crowd was the biggest since the early days of the revolution.
[New York Times] - Iranians under presidential orders to leave the United States by midnight, and others who were uncertain of their status, filed petitions and inquiries at offices of the Immigration and Naturalization Service across the country. Meanwhile, a Washington law firm appealed to the immigration authorities for "due process" with the aim of blocking the deportation of 25 Iranian students. [New York Times]
- President Carter's threat to take "legal actions'' to prevent United States participation in the Olympics in Moscow this summer killed hopes among American sports officials and athletes that they would be going to the Games. Mr. Carter's reiteration of his strong stand against American participation and his statement in a speech Thursday that he was prepared to take legal actions convinced a high-ranking American Olympic official that participation would be impossible. [New York Times]
- Chrysler has agreed to replace rusted front fenders on 200,000 cars in a settlement estimated to be worth $45 million to consumers, the Federal Trade Commission said. New fenders will be provided for 1976 and 1977 model Aspens and Volares whose original fenders, the agency said, trapped water that resulted in severe rusting. [New York Times]
- John Anderson will be aided by David Garth, a campaign consultant who has helped elect other politicians, to "explore" the practicality of an independent presidential campaign for the Illinois Republican. Mr. Garth, a highly regarded consultant, will serve as the unpaid head of a citizens' committee to assess the political feasibility of an independent campaign. [New York Times]
- Sexual harassment of employees has been explicity forbidden in rules published by the Equal Employment Opportunity Commission, and they apply to all federal, state and local agencies and private businesses with more than 15 employees. The rules are effective immediately and are subject to change based on comments submitted in the next 60 days. [New York Times]
- The security of Marxist nations like Afghanistan will be defended by the Soviet Union and the Warsaw Pact military alliance against attacks by "imperialism," a Soviet general said in an article in Pravda, the Communist Party paper. Gen. Aleksei Yepishev, chief of the Political Department of the Soviet armed forces, attacked the United States and the North Atlantic Treaty Organization for allegedly seeking a return to the cold war. [New York Times]
- Transit workers were told to return to work following acceptance by their unions of a tentative agreement. The agreement, subject to ratification by a mail ballot, would provide wage increases totaling more than 20 percent over two years. It was assailed by Mayor Koch. He said: "The basic fact is that it is too expensive for the M.T.A. and for the people of New York City."
The strike kept about 10 percent of all metropolitan workers away from their jobs. In contrast to the many New Yorkers who went to work one way or another, there were many who were too old to ride a bicycle or to skate, or too poor to take a taxi, or too far away to walk.
[New York Times]
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Stock Market Report
Dow Jones Industrial Average: 791.55 (+0.08, +0.01%)
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* |
| April 10, 1980 | 791.47 | 104.08 | 33.95 |
| April 9, 1980 | 785.92 | 103.11 | 33.02 |
| April 8, 1980 | 775.00 | 101.20 | 31.69 |
| April 7, 1980 | 768.34 | 100.19 | 29.13 |
| April 3, 1980 | 784.13 | 102.15 | 27.96 |
| April 2, 1980 | 787.80 | 102.68 | 35.20 |
| April 1, 1980 | 784.47 | 102.18 | 32.03 |
| March 31, 1980 | 785.75 | 102.09 | 35.85 |
| March 28, 1980 | 777.65 | 100.68 | 46.71 |
| March 27, 1980 | 759.98 | 98.22 | 63.77 |