News stories from Friday November 12, 1982

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

The successor to Leonid Brezhnev was chosen by the Soviet Communist Party's Central Committee. He is Yuri Andropov, who until six months ago headed the K.G.B., the Committee for State Security, and was in charge of the internal security police and foreign espionage operations. His appointment as the party's General Secretary was said to have unanimously been approved by the Central Committee. [New York Times] The need to widen Social Security to include ail federal employees and of private, nonprofit institutions has been agreed to by the National Commission on Social Security Reform. Senator Bob Dole, chairman of the Senate Finance Committee and one of eight Republicans on the 15-member commission, suggested that his panel and Congress would have to adopt a compromise package of measures -- including payroll tax increases and some restraint on cost-of-living increases in benefits "to save the system." [New York Times] The second communications satellite was deployed by the space shuttle Columbia's astronauts. The satellite, Canada's Anik C-3, was released as the shuttle coasted over the Pacific Ocean in its 22nd orbit of Earth. The first satellite was released Thursday and will be operated by Satellite Business Systems of McLean, Va. [New York Times] An Ohio utility was told to stop work on its nearly completed atomic power plant until an independent review has found that it meets government safety requirements. The $1.6 billion William H. Zimmer Nuclear Power Plant of the Cincinnati Gas and Electric Company has been under construction since 1972. [New York Times] A decline in guaranteed student loans, one of the main sources of federal aid for college students, has been reported by the Department of Education, which said it was caused partly by tighter eligibility rules. [New York Times] Evidence of foreign involvement in the movement in the United States to freeze the nuclear arms arsenal has been offered by the White House in support of President Reagan's contention in his new conference Thursday night that "foreign agents" helped "instigate" the movement. Larry Speakes, deputy press secretary, said the State Department had issued reports on the Soviet infiltration of the peace movement and said further documentation had been made public in articles in Reader's Digest, Commentary and The American Spectator. [New York Times] The auto union leadership nominated a successor to Douglas Fraser, the departing president. The nominee is Owen Bieber, the vice president in charge of the General Motors department of the United Automobile Workers. He had been the favored candidate among three. [New York Times] Faulty calculations by Edward Teller, known as "the father of the hydrogen bomb," hindered the bomb's development rather than political opposition by the late Robert Oppenheimer, according to Hans Bethe, the physicist, in a newly declassified article in the professional journal Los Alamos Science. [New York Times] Government help in stopping a strike threatened next Friday on the Long Island Railroad is being sought by the Metropolitan Transportation Authority. The agency asked President Reagan for the appointment of an emergency board that would investigate and report on the contract disputes with the unions. [New York Times] Leonid Brezhnev's funeral will be used by the Reagan administration as an opportunity to tell the new Soviet leadership that the United States desires better relations but is prepared to continue its military buildup if the Russians prefer confrontation, senior officials said. They said that Vice President Bush and Secretary of State George Shultz, who head the American delegation, hope to meet with Foreign Minister Andrei Gromyko during the 24 hours they will be in Moscow. [New York Times] Argentina's military junta has called for a pact with political leaders before a return to civilian rule. Many political leaders fear that the junta, in proposing an accord on key issues facing the country, may be backing away from its promise to return to civilian government by March 1984. [New York Times] Lech Walesa's release was ordered by Polish authorities but it was unclear whether he had left the remote hunting lodge near the Soviet border where he had been held for more than 11 months His wife, Danuta, said in Gdansk that she had received no word as to his whereabouts. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1039.92 (-14.81, -1.40%)
S&P Composite: 139.53 (-2.23, -1.57%)
Arms Index: 1.73

	Issues	Volume*
Advances	735	28.18
Declines	901	59.64
Unchanged	344	7.26
Total Volume		95.08

* 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
Date	DJIA	S&P	Volume*
November 11, 1982	1054.73	141.76	78.39
November 10, 1982	1044.52	141.16	113.24
November 9, 1982	1060.25	143.02	111.23
November 8, 1982	1037.44	140.44	75.22
November 5, 1982	1051.78	142.16	96.55
November 4, 1982	1050.22	141.85	149.38
November 3, 1982	1065.49	142.87	137.01
November 2, 1982	1022.08	137.49	104.77
November 1, 1982	1005.70	135.47	73.52
October 29, 1982	991.72	133.71	74.87