News stories from Wednesday January 28, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The ex-hostages began going home to cities and small towns across the nation. Everywhere they went, they were greeted as heroes, with cheering throngs, brass bands, motorcades and champagne. Many of the 52 Americans are expected to attend an ecumenical thanksgiving service tomorrow in the Washington Cathedral.
The psychological problems that trouble some of the freed hostages have decreased in the last three days, according to Dr. Jerome Korcak, the State Department's medical director. He also said in an interview that two of the Americans had been hospitalized in the Washington area as an outbreak of flu struck about one-fifth of the former captives.
[New York Times] - Decontrol of oil prices and allocations was ordered by President Reagan, effective at once. As a result, the administration predicted, gasoline prices will rise by 3 to 5 cents a gallon while consumer groups put the additional cost at 10 to 12 cents by the end of the summer. Analysts said that the price of heating oil would rise even more. The remaining controls had been set to expire next Sept. 30. [New York Times]
- A change in the Consumer Price Index is set to occur in 1985, according to Janet Norwood, the Commissioner of Labor Statistics. She said that the home-ownership component of the key index would be deleted and would probably be replaced with an estimate for rents. The change is considered likely to slow the rate of increase in the overall index, which could result in smaller rises in Social Security benefits and government pensions. [New York Times]
- A cut in loans and grants to students will be pressed by the Reagan administration as a top priority in education policy, according to Secretary of Education T. H. Bell. In a wide-ranging interview, Mr. Bell also said that he would actively promote legislation to grant tax credits to the parents of children attending private and parochial schools and colleges. [New York Times]
- A new strategic bomber is needed urgently, according to Gen. David Jones, the Chairman of the Joint Chiefs of Staff. In a marked shift from the position and tone of his report to Congress a year ago, the Air Force general urged the continued development of a bomber to succeed the B-52 that could penetrate Soviet defenses. [New York Times]
- Heavy rains and snow in California eased the threat of a drought and aided the troubled skiing industry. Tempestuous storms over two days, coming after two days of moderate rain last week, brought two to three more inches of rain to the northern part of the state and four to six inches of snow to the Sierra Nevada Mountains. [New York Times]
- Jean Harris wrote a poignant letter to Dr. Herman Tarnower a month before she was accused of his murder. In the note, which was read at her trial in Westchester County Court, she cited her deep affection for the cardiologist who had been her lover and expressed contempt for the woman who seemed to be taking her place. [New York Times]
- A student sit-in at Lodz, Poland, has virtually paralyzed all instruction at the 7,000-student university. Students at two nearby institutions have joined the protest, and student delegations from other cities are going to Lodz in a show of solidarity. The students are demanding university autonomy from the state and are protesting compulsory courses in the Russian language and Marxism-Leninism.
Thousands of Polish workers struck for a second day in the largest number of wildcat walkouts since last summer. The independent national union warned that it would call a general strike to press for a five-day work week and other demands.
[New York Times] - An article in Moscow accused NATO of trying to detach Poland from the Warsaw Pact alliance. The article, published in a government newspaper, seemed to reflect the view of the Soviet military and was regarded as ominous by some Western diplomats. [New York Times]
- Iran spurned a new offer by Iraq to begin peace talks as Ayatollah Khomeini exhorted Iran's forces to press for "total victory." [New York Times]
- A general election in South Africa was set for April 29. Prime Minister P. W. Botha, who announced the first national election since he took office, apparently hopes to strengthen his power within the governing party. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 942.58 (-6.91, -0.73%)
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* |
| January 27, 1981 | 949.49 | 131.12 | 42.25 |
| January 26, 1981 | 938.91 | 129.84 | 35.37 |
| January 23, 1981 | 940.19 | 130.23 | 37.22 |
| January 22, 1981 | 940.44 | 130.26 | 39.88 |
| January 21, 1981 | 946.25 | 131.36 | 39.19 |
| January 20, 1981 | 950.68 | 131.65 | 41.74 |
| January 19, 1981 | 970.99 | 134.37 | 36.64 |
| January 16, 1981 | 973.29 | 134.77 | 43.26 |
| January 15, 1981 | 969.97 | 134.22 | 39.63 |
| January 14, 1981 | 966.47 | 133.47 | 41.39 |