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Tuesday September 28, 1982
. . . where the 1970s live forever!

News stories from Tuesday September 28, 1982

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

  • The administration's economic plan has brought the nation back from the "brink of disaster," according to President Reagan. At his first news conference in two months, Mr. Reagan contended that congressional delays on budget legislation were delaying a recovery. [New York Times]
  • Spending for military use of space would be speedily accelerated over five years under a new policy, according to a senior Defense Department official. He said the Reagan administration proposed to increase spending for military use of space by more than 10 percent a year after inflation while the real growth rate for overall military spending has been set at about 7 percent a year. [New York Times]
  • Differences over military spending accelerated as a House panel decided not to begin work on a Pentagon appropriations bill until Congress reconvenes on Nov. 29. In the absence of a committee-approved bill, military spending might continue at a lower level under an interim bill approved by the House. [New York Times]
  • Mexicans are pressing property sales in the United States worth billions of dollars as a result of Mexico's currency crisis. The dumping of property, particularly of high-priced condominiums in resort areas, has followed curbs on currency movement that have made it impossible for most of the Mexicans to make mortgage payments because they cannot send money out of Mexico. [New York Times]
  • A derailment and toxic fire forced the evacuation of 2,000 residents of a five mile area around the south Lousiana town of Livingston. The derailment of the 101-car freight carrying explosive and poisonous chemicals ignited a roaring blaze so intense and explosions so hazardous that officials were at a loss over how to battle the blaze. Louisiana declared a state of emergency. [New York Times]
  • Proponents of a breeder reactor broke ground at the Clinch River in Oak Ridge, Tenn., after more than a decade of controversy. The Senate is nearing a vote on a proposal to halt financing for the project, which would be the nation's first plutonium-fueled nuclear breeder reactor. [New York Times]
  • A milestone for pay-per-view TV has been marked with a showing of "Star Wars" for about 1.5 million cable television subscribers who mailed in $8 apiece to see the biggest box office hit ever two years before it will be broadcast by CBS-TV. The experimental showing, along with others scheduled, will shape the future of the cable television industry. [New York Times]
  • U.S. Marines will land in Beirut tomorrow and will remain there until Israeli and Syrian forces are withdrawn from Lebanon, President Reagan announced at a televised news conference. An American official said the Marines could be in Beirut "for some time." [New York Times]
  • A full inquiry on the Beirut massacre of Palestinians was approved by Prime Minister Menachem Begin. The Israeli leader dropped his opposition to establishing a judicial commission to carry out a thorough investigation in the face of intensive pressure from within his governing coalition as well as mounting criticism by many Israelis. [New York Times]
  • Eleven U.S.-Vietnamese children are set to leave Ho Chi Minh City on Thursday for the United States, State Department officials said. The youngsters, all United States citizens, are the first substantial group of Amerasians to leave Vietnam in years, and relief officials hope that others may soon be free to depart. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 919.33 (-1.57, -0.17%)
S&P Composite: 123.24 (-0.38, -0.31%)
Arms Index: 1.15

Total Volume65.90
* 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
September 27, 1982920.90123.6244.83
September 24, 1982919.52123.3254.59
September 23, 1982925.77123.8168.24
September 22, 1982927.61123.99113.09
September 21, 1982934.79124.8882.89
September 20, 1982916.30122.5158.52
September 17, 1982916.94122.5563.94
September 16, 1982927.80123.7778.89
September 15, 1982930.46124.2969.67
September 14, 1982923.01123.1083.06

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