News stories from Wednesday January 27, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Reagan administration initiated a campaign to seek support for its "new federalism" proposal, which calls for states to take over some 43 different assistance programs in exchange for a federal pickup of the Medicaid program. Although most details of the proposal have yet to be worked out, the plan would be accompanied by the requirement that the current benefits for the poor be maintained for at least five years before each the states decide which benefits they would cut. Aides said the President would travel and sell his program. [New York Times]
- A federal takeover of Medicaid in exchange for the states' assumption of the food stamp and other aid programs could marginally benefit New York, Connecticut and New Jersey. But officals, in responding to President Reagan's proposal, said that any short-term benefit would eventually disappear and the states could soon be more financially pressed that they are now. [New York Times]
- The nation's governors were divided along party lines in their assessment of President Reagan's plan to shift some aid programs to the states. Democratic criticism of the proposals seemed more solid than Republican support, indicating that the President may have more difficulty winning approval of his "new federalism" plan than he did with his block grant proposal last year. [New York Times]
- An extension of the Voting Rights Act has gained the support of the Reagan administration. Attorney General William French Smith said that the President endorsed a 10-year extension of the act. However, several details of the bill remain in dispute and the Reagan administration favors three proposed changes that could make the act harder to enforce. [New York Times]
- The Bulletin of Philadelphia will close after its Friday editions. The announcement came after a five-month effort to save the failing afternoon newspaper. The decision to cease publication of the 134-year-old paper was made by the Charter Company, the newspaper's owner. In recent months circulation had increased slightly but the Bulletin failed to attract advertisers. [New York Times]
- A slave ring in Los Angeles in which 30 Indonesian adults were sold to wealthy residents has been discovered, according to federal authorities. No arrests were made but Indonesians were questioned by agents for the Federal Bureau of Investigation and the Immigration and Naturalization Service after an early-morning raid of businesses and Beverly Hills homes Tuesday. According to the F.B.I., the Indonesians were sold as domestic or manual labor for between $1,500 and $3,000 each. [New York Times]
- Talks on Palestinian self-rule moved into a new phase as the United offered some new formulas to Israeli leaders. Secretary of State Alexander Haig met with Prime Minister Menachem Begin of Israel in an effort to overcome the Israeli differences with Egypt, which have for more than 2 years blocked an accord. [New York Times]
- Peasants in El Salvador are being trained by the Farabundi Marti Liberation Front to become guerrilla fighters. In a school run by the front, Marxist political principles are an integral part of the curriculum for the peasant soldiers, few of whom are more than 24 or 25 years old. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 842.66 (+1.15, +0.14%)
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 26, 1982 | 841.51 | 115.19 | 44.86 |
| January 25, 1982 | 842.75 | 115.41 | 43.17 |
| January 22, 1982 | 845.03 | 115.38 | 44.39 |
| January 21, 1982 | 848.27 | 115.75 | 48.60 |
| January 20, 1982 | 845.89 | 115.27 | 48.86 |
| January 19, 1982 | 847.41 | 115.97 | 45.06 |
| January 18, 1982 | 855.12 | 117.22 | 44.91 |
| January 15, 1982 | 847.60 | 116.33 | 43.31 |
| January 14, 1982 | 842.28 | 115.54 | 42.94 |
| January 13, 1982 | 838.95 | 114.88 | 49.13 |