News stories from Monday September 27, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The investigation of a bank failure has led to referrals to the Justice Department of 30 cases for possible criminal prosecution, according to documents obtained by a congressional panel. The inquiry by federal bank regulators involves the collapse of the Penn Square Bank of Oklahoma City. The documents show that the 30 cases involve dozens of individuals, transactions of more than $70 million and many potential violations. [New York Times]
- Scores of business executives who are working with a presidential commission to help reduce the cost of government have been assigned to examine agencies that regulate their companies. The panel has refused to give a list of its members to the General Accounting Office, the investigative arm of Congress . [New York Times]
- Problems with cable television have eclipsed the 1980 euphoria over the potential of a new technology. The difficulties in shaping a new industry are reflected, among other things, in the first shutdown of a major cable programming service and withdrawals in bidding for franchises. [New York Times]
- Increased action against busing is being considered by the Justice Department. It said it might support the legal efforts of some school boards to modify federal court decrees that require busing for school desegregation. It marked the first time that administration officials had indicated interest in reopening previous cases. [New York Times]
- The Illinois gubernatorial campaign has been underway for two years, underscoring the importance of politics there. Gov. James Thompson, a Republican, is seeking to accomplish what no governor has ever done -- get elected three times. His Democratic adversary, Adlai Stevenson III, left the Senate in 1980 to start his campaign. The polls show the Governor with a strong lead. [New York Times]
- Federal aid in science advances was stressed by Senator John Glenn. The Ohio Democrat conducted a poll of American Nobel Prize winners indicating that government support was vital to most of them. The survey found that 29 of 48 American Nobel laureates in physics, chemistry or medicine from 1967 to 1981 received more than 90 percent of their research support from the government. [New York Times]
- No presidential visit to New York is likely before Election Day, according to Richard Wirthlin, the pollster for Mr. Reagan and Lewis Lehrman, the Republican candidate for Governor. Mr. Wirthlin said the President's major responsibility was to help Republicans keep their majority in the Senate and maintain a working coalition in the House. [New York Times]
- Five Hispanic activists who refused to testify before a federal grand jury investigating the F.A.L.N., the terrorist group seeking Puerto Rican independence, have been indicted on charges of criminal contempt, federal officials said. Last fall, the prosecutor who headed the grand jury inquiry said, "There's no conclusive evidence" that the five persons, who advocate Puerto Rican independence, "are members of the F.A.L.N." [New York Times]
- French and Italian soldiers entered Shatila and Sabra, the two refugee camps in Beirut where hundreds of Palestinians were killed by Christian militiamen more than a week ago. The French and Italian peacekeepers moved in after Israeli troops virtually completed their withdrawal from west Beirut. [New York Times]
- The number of American Marines expected to land in Beirut this week may reach 1,200, according to a State De-partment spokesman. A Pentagon official said the Marines would be given more freedom of action in safeguarding lives and public order than was authorized for the 800 Marines stationed in Beirut to help oversee the withdrawal of Palestine Liberation Organization forces. [New York Times]
- Brazil's President warned that the world is facing a major depression, and he blamed the major powers for destroying rather than creating wealth. President Joao Baptista Figueiredo, speaking in the opening debate of the United Nations General Assembly, called on global agencies to propose "emergency measures" to aid trade and credit. [New York Times]
- Differences over the Siberian pipeline project in Europe and sanctions against it imposed by Washington are so wide that the United States and its Western European allies have agreed there is no point in discussing possible compromises now, an American spokesman said. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 920.90 (+1.38, +0.15%)
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* |
| September 24, 1982 | 919.52 | 123.32 | 54.59 |
| September 23, 1982 | 925.77 | 123.81 | 68.24 |
| September 22, 1982 | 927.61 | 123.99 | 113.09 |
| September 21, 1982 | 934.79 | 124.88 | 82.89 |
| September 20, 1982 | 916.30 | 122.51 | 58.52 |
| September 17, 1982 | 916.94 | 122.55 | 63.94 |
| September 16, 1982 | 927.80 | 123.77 | 78.89 |
| September 15, 1982 | 930.46 | 124.29 | 69.67 |
| September 14, 1982 | 923.01 | 123.10 | 83.06 |
| September 13, 1982 | 918.69 | 122.24 | 59.51 |