News stories from Wednesday September 10, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Jimmy Carter still won't debate his opponents, Ronald Reagan and John Anderson, in a presidential debate to be sponsored by the League of Women Voters. After a meeting between representatives of the three campaigns, the Carter organization rejected two compromise offers. One would have all three men in the first debate and only Mr. Carter and Mr. Reagan in a second. The other called for a round robin of two-man debates. [New York Times]
- Ronald Reagan criticized the President in a campaign appearance in Cleveland, accusing Mr. Carter of using "misleading rhetoric and incomplete facts" to disguise an "increasing threat to our energy security." The Republican presidential nominee also accused the President of leading this country into a dangerous dependency upon OPEC.
President Carter replied to charges levied against him by Ronald Reagan, charging his Republican rival with distorting the administration's record on energy. Earlier, Mr. Reagan had accused the President of discouraging the discovery and development of new energy sources.
[New York Times] - Opposition to general tax reductions, proposed by both President Carter and Ronald Reagan, was voiced by Paul Volcker, chairman of the Federal Reserve. Mr. Volcker feels that any decision on a tax cut should be held in abeyance until after the November elections and should only be considered after a restraint on federal spending is in effect. [New York Times]
- An inquiry into Billy Carter's dealings continued before a special Senate subcommittee with President Carter's legal counsel, Lloyd Cutler, testifying that it had been proper for him to remain in close contact with Billy Carter's lawyers and to advise the President on the status of the case. [New York Times]
- Senator Javits sought a middle ground for his campaign on the Liberal Party ticket, targeting a constituency that lies somewhere between the extremes represented by Alfonse D'Amato, the conservative Republican who defeated him badly in the primary, and Representative Elizabeth Holtzman, the liberal who won the Democratic nomination.
The Senate welcomed Javits in Washington on the day after he was defeated in the Republican primary. The veteran of 24 years on Capitol Hill was greeted by colleagues from both parties, even some who had in the past had unpleasant things to say about the 76-year-old lawmaker.
[New York Times] - A new prescription drugs project was announced by the Secretary of Health and Human Services. Under the three-year pilot project, druggists filling prescriptions for 10 common drugs, including tranquilizers such as Valium, Librium and Tranxene and the pain-killer, Darvon, must provide easy-to-read information for consumers on the proper use, side effects and risks of the drugs. [New York Times]
- Polish leaders went to Moscow apparently in an effort to get the Russians to help Poland avert economic disaster after two months of strikes and the recent wage concessions made to workers. The delegation was led by Mieczyslaw Jagielski, a Deputy Prime Minister who negotiated the wage settlement.
Some strikes continued in Poland, despite pleas from Communist Party leaders, at a time when the new government is seeking economic aid from the Soviet Union. According to dissident sources and the official press agency, workers in more than a dozen locations have refused to return to their jobs.
[New York Times] - The proposed sale of uranium to India was rejected by both the Senate Foreign Relations Committee and the House Foreign Affairs Committee. This was a sharp blow to the Carter administration, which had lobbied intensively for approval of the sale. The matter now goes to the floor of each house. [New York Times]
- Three new Deputy Prime Ministers were named in China. However, the fact that the average age of the three is 66 years old indicates that the government is finding it difficult to find a younger generation of leaders. In another move, Zhao Ziyang was formally elected as the new Prime Minister to replace Hua Guofeng. [New York Times]
- Libya and Syria announced a merger and in a 14-point proclamation invited other Arab nations to join the new union. The announcement followed two days of negotiations in Tripoli between Hafez Al-Assad, the Syrian president, and Col. Muammar Qaddafi, the Libyan leader. [New York Times]
- A national election in Chile will determine not only whether a new constitution is adopted, but also whether the country will be ruled by the military government headed by President Augusto Pinochet for at least eight years and six months more. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 938.48 (+3.75, +0.40%)
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* |
| September 9, 1980 | 934.73 | 124.07 | 44.46 |
| September 8, 1980 | 928.58 | 123.31 | 42.04 |
| September 5, 1980 | 940.96 | 124.88 | 37.99 |
| September 4, 1980 | 948.81 | 125.42 | 59.02 |
| September 3, 1980 | 953.16 | 125.66 | 52.35 |
| September 2, 1980 | 940.78 | 123.74 | 35.30 |
| August 29, 1980 | 932.59 | 122.38 | 33.50 |
| August 28, 1980 | 930.38 | 122.08 | 39.89 |
| August 27, 1980 | 943.09 | 123.52 | 43.97 |
| August 26, 1980 | 953.41 | 124.84 | 41.70 |