News stories from Friday June 27, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- An Italian jetliner went down in the Tyrrhenian Sea on its way from Bologna, Italy, to Palermo, Sicily. It had a crew of 4 and 77 passengers. Naval vessels and helicopters sped to the area about 15 miles northeast off the island of Ustica, off the Naples coast. The plane was a DC-9 operated by the domestic airline ltavia. [New York Times]
- Opposition to the neutron bomb was reaffirmed by the administration, which first made its disapproval known two years ago, but it was careful neither to approve nor condemn the recent French test of the weapon and to leave open American options to deploy it. Meanwhile, senior American military officers privately expressed approval of France's test of the bomb and said that the test had removed most arguments against it. [New York Times]
- Restoration of $572 million in funding for state revenue sharing through Sept. 30 was approved by the Senate, which sought to offset that increase by rescinding funds for other programs in its $16.6 billion supplemental appropriations bill for the current fiscal year. With the restoration of the revenue sharing funds, the Senate exceeded the budget ceilings approved by Congress two weeks ago. [New York Times]
- The House killed a key element in President Carter's plan to cut oil imports -- his proposed Energy Mobilization Board. The vote of 232 to 131 surprised Democratic leaders, especially beause the House had passed the original version of the bill by 250 to 153 a year ago. [New York Times]
- Help for the auto industry through a number of possible actions is being considered by a deeply divided administration. It is intended to cost the government and car buyers little or nothing in cash, according to an interagency planning group headed by the Secretary of Transportation. However, a cutback in imports is not among the help being considered. [New York Times]
- Many residents left the Three Mile Island area in Pennsylvania as plans went ahead to vent the nuclear reactor there of the radioactive gas Krypton-85 tomorrow. Meanwhile, lawyers failed to persuade a federal court in Washington to halt the release of the gas. [New York Times]
- Allegations of police brutality in Miami will be monitored by a citizens' advisory group, under an ordinance approved by the Miami City Commission. Meanwhile, the Carter administration announced a $71 million aid program to help areas recover from riots last month. [New York Times]
- A heat wave in Texas killed at least seven persons. It was 105 degrees shortly before noon at the Dallas-Fort Worth Regional Airport, where Thursday's reading of 113 degrees was a record for those cities. [New York Times]
- The Denver Post is for sale and the price is said to be about $75 million. Donald Seawell, the paper's president and publisher, said in Denver that a "substantial offer" had been received, and that the paper would "seek the market" for other offers. The most likely buyer is believed to be Marvin Davis, a Denver oilman. [New York Times]
- Removal of holdovers from the Shah's regime was demanded by Ayatollah Khomeini. In a speech over the state radio he urged President Abolhassan Bani-Sadr to get rid of corrupt elements without delay. He described government ministries as satanic, a term applied to anything connected with the Shah. [New York Times]
- Washington intends to remove the United States Ambassador to Guatemala, Frank Ortiz, the highest-ranking Hispanic-American in the Foreign Service. Mr. Ortiz, who has devoted most his 29-year diplomatic career to Latin American affairs, has been accused by human rights organizations of being too closely identified with the military government of Gen. Romeo Lucas Garcia and conservative groups. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 881.83 (-1.62, -0.18%)
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* |
| June 26, 1980 | 883.45 | 116.19 | 45.10 |
| June 25, 1980 | 887.54 | 116.72 | 46.50 |
| June 24, 1980 | 877.30 | 115.14 | 37.73 |
| June 23, 1980 | 873.81 | 114.51 | 34.18 |
| June 20, 1980 | 869.71 | 114.06 | 36.52 |
| June 19, 1980 | 870.90 | 114.66 | 38.28 |
| June 18, 1980 | 881.91 | 116.26 | 41.96 |
| June 17, 1980 | 879.27 | 116.03 | 41.99 |
| June 16, 1980 | 877.73 | 116.09 | 36.18 |
| June 13, 1980 | 876.37 | 115.81 | 41.85 |