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Thursday February 26, 1981
. . . where the 1970s live forever!

News stories from Thursday February 26, 1981

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

  • British-American amity was stressed as Prime Minister Margaret Thatcher met with President Reagan at the White House. Praising Mr. Reagan's economic program, Mrs. Thatcher said that "we are both determined to sweep away the restrictions that hold back enterprise." Her own austerity program has been the subject of much debate in Britain. [New York Times]
  • A sweeping debt collection program to reclaim more than $1 billion in delinquent loans to students, farmers and clients of the Small Business Administration is planned by the Reagan administration, according to White House sources. They said that lawsuits and penalties would be pressed to regain the money. [New York Times]
  • Opponents of offshore exploration for oil and gas said they would seek to reverse the Reagan administration's decision to offer 1.3 million acres off central and northern California for the drilling. The opposition is led by officials of the state and eight coastal counties. [New York Times]
  • Alexander Haig has more authority than other recent Secretaries of State but not as much as he originally wanted, under a formula set by the Reagan administration. The White House said that the State Department would be in charge of numerous interdepartmental working groups but fewer than Mr. Haig had requested. [New York Times]
  • A "modest increase" in immigration was urged by the three-year-old Select Commission on Immigration and Refugee Policy. In a 453-page final report to the President and Congress, the advisory panel also called for a one-time amnesty for most illegal aliens and strict enforcement measures in the future, including penalties for employers who hire illegal aliens. [New York Times]
  • Disputes over offices for blacks dominated the opening of a two-day conference of the Democratic National Committee that is scheduled to elect Charles Manatt of Los Angeles as its new chairman. Blacks assailed a slate of 25 candidates for at-large seats on the committee, complaining that they would lose two of their 10 seats because of a deal arranged by Mr. Manatt and union officials. [New York Times]
  • A gift for public television of $150 million from Walter Annenberg was announced by the Corporation for Public Broadcasting and the publisher. The corporation will receive $10 million a year for the next 15 years to create an innovative program of college courses for at-home study. [New York Times]
  • Jean Harris seems to be adjusting to prison life, speaking with visitors and rearranging books as a library volunteer, according to a Westchester County prison official. Mrs. Harris, who has been eating food brought by friends and items she bought in the commissary, was placed on a special diet that was said to consist of such items as "cheese and fruit." [New York Times]
  • Abuses by Salvadoran military forces were reported by many peasants who were interviewed in remote areas in the last two weeks. But a critic of the Salvadoran government said that killings by the leftist insurgents appeared to be increasing and those by the government forces to be decreasing. The slayings by government forces have damaged efforts by the Reagan administration to gain international support for the government. [New York Times]
  • Official torture in Iran was alleged by a group of 133 Iranian intellectuals. In a statement circulated covertly and distributed to foreign correspondents, the dissidents accused the authorities of torturing political prisoners and of making "increasing attacks on democratic rights and liberties." [New York Times]
  • A New cabinet was announced in Spain by Prime Minister Leopoldo Calvo-Sotelo. For the first time since the death of Franco in 1975, the government has no military member. A general, who reportedly aspired to lead a military junta if this week's attempted coup had succeeded, was arrested, as was the chief of staff of an armored division outside Madrid. [New York Times]
  • The inheritance of characteristics acquired in one generation was suggested by new research despite well-established and prevailing scientific views. Two researchers in Toronto have reported that mice made tolerant to two foreign substances have passed that tolerance to their offspring and that the offspring then transmitted the characteristic to a third generation. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 966.81 (+12.41, +1.30%)
S&P Composite: 130.10 (+1.58, +1.23%)
Arms Index: 0.65

Total Volume60.30
* 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
February 25, 1981954.40128.5245.71
February 24, 1981946.10127.3943.96
February 23, 1981945.23127.3539.59
February 20, 1981936.09126.5841.90
February 19, 1981933.36126.6141.64
February 18, 1981947.10128.4840.42
February 17, 1981939.68127.8137.94
February 13, 1981931.57126.9833.36
February 12, 1981936.60127.4834.71
February 11, 1981942.49128.2437.79

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