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Thursday December 11, 1980
. . . where the 1970s live forever!

News stories from Thursday December 11, 1980


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

  • The lawyer for the accused slayer of John Lennon was given police protection after he received a series of telephone calls. He was removed from the case at his request and replaced. He denied having received any death threats, saying he had gotten several crank calls from people offering help in determining a motive for the murder of the Beatles musician. [New York Times]
  • The head of Iran's hostage panel denied a published report that the captives would be freed on Christmas Day. A leftist newspaper in Beirut asserted that the 52 Americans would be released by then, but the Iranian leader declared that the report "is without foundation." [New York Times]
  • Washington won firm backing in NATO as the European allies signaled a readiness to join in economic, political and military measures if Soviet troops moved on Poland. The measures, not yet specified, would go far beyond the allied response to Moscow's intervention in Afghanistan. The attitude at a NATO foreign ministers conference was described by Secretary of State Muskie as "very strong, positive and unanimous." [New York Times]
  • Eight cabinet members were named by President-elect Ronald Reagan. Those designated were presented at a joint news conference not attended by Mr. Reagan. In a statement, he said that, with his first eight choices, he was "more confident than ever that cabinet government can and will work." The announcement leaves seven cabinet posts unfilled, including that of Secretary of State. [New York Times]
  • Washington rejected a Soviet proposal for the major powers to agree not to intervene in the Persian Gulf. The State Department said that the plan, announced Wednesday, was unworkable, seemed aimed at increasing Soviet influence in the region and could not be taken seriously as long as Soviet troops remained in Afghanistan. [New York Times]
  • The case against L. Patrick Gray was dropped by the Justice Department with the approval of a federal judge. The former acting director of the F.B.I. had been accused of illegally authorizing federal agents to break into homes without search warrants in a hunt for fugitive radicals. Mr. Gray said he had spent "almost a half-million dollars" defending himself against the charge and that the government had ignored for two years evidence that would exonerate him. [New York Times]
  • No adjustment for a census undercount is planned now despite the many complaints and lawsuits charging that many people were overlooked, according to Vincent Barabba, the director of the Census Bureau. He said that if the bureau lost its case in the courts it would make an adjustment within a year but that the bureau presently has no method for doing so. [New York Times]
  • A stopgap funding bill moved slowly in the Senate as the legislators tacked onto it many pet appropriaions. Senator Robert Byrd, the majority leader, accused the chamber of "playing to the headlines back home" and told the members to "stop making a Christmas tree" of the legislation. [New York Times]
  • Major environmental changes would occur in the deserts of Utah and Nevada as a result of the MX missile system, according to an Air Force impact statement. The 1,500-page draft report concluded that the controversial project would bring about "rapid, large-scale changes in the character of the human environment" and perhaps a "significant" and long-term impact on scant water resources. [New York Times]
  • Anti-Semitism in Poland should be examined by the government, according to a group of Polish intellectuals. They said that amends should be made to the thousands of Jews who were driven from public life in 1968. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 908.45 (-7.76, -0.85%)
S&P Composite: 127.36 (-0.90, -0.70%)
Arms Index: 0.70

IssuesVolume*
Advances27512.01
Declines1,41143.01
Unchanged3065.20
Total Volume60.22
* 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
DateDJIAS&PVolume*
December 10, 1980916.21128.2649.31
December 9, 1980934.04130.4853.22
December 8, 1980933.70130.6153.60
December 5, 1980956.23134.0351.99
December 4, 1980970.48136.4851.17
December 3, 1980972.27136.7143.44
December 2, 1980974.40136.9752.35
December 1, 1980969.45137.2148.17
November 28, 1980993.34140.5234.27
November 26, 1980989.68140.1755.34


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