05 Mar 1987
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 05, 1987
Page
1
The market extended its winning streak as stocks rose to another record high, marking the 22nd record of the year. Analysts cited strong earnings momentum and optimistic economic signals supporting the climb. Investors watched tech and industrials lead gains while energy sagged slightly.
Nicklaus partners with Lowan while Dave Rummells receives encouraging words during the Doral Open on page 1C.
Iowa officials press to shift focus from removing directors of the failed Iowa National Insurance firm to where the real culpability lies. An state attorney frames the argument amid ongoing legal actions and investigations.
A humor quip contrasts moral certainty with the tempting thought that someone might discover the misstep. The line plays on the pressure of hidden actions and the urge to avoid accountability.
President Reagan acknowledged the Iran arms for hostages program deteriorated into a covert trading of weapons. He said the episode was a mistake and that he bears responsibility for what happened on his watch while promising to seek the full truth as investigations continue.
President Reagan denounces as despicable fiction reports that Nancy Reagan pressured Donald Regan from the White House and influences government decisions. He says the tale harms the first lady and urges critics to be ashamed as he reacts during photo sessions on their 35th wedding anniversary.
U S District Judge W Brevard Hand ruled in a class action suit that 31 Alabama public school textbooks advocate secular humanism, violating the constitutional church state separation. The decision follows a 244 week trial prompted by objections from parents and teachers linked to a 1981 school prayer case.
Iowa House Ways and Means Committee approved a bill allowing eight excursion boats on the Mississippi and Missouri rivers and seven on other Iowa waterways to offer small stake casino gambling with bets up to five dollars. Supporters say it could revive ghost towns and draw tourists, while opponents warn of competition with horse racing and possible expansion of stakes. Local communities could decide if boats dock in their area, with critics arguing about Iowa's image and potential economic benefits.
A Northwest Airlink Fischer Brothers Aviation twin engine plane bound from Mansfield Ohio to Detroit Metropolitan Airport crashed on landing at Detroit and burst into flames. Nine dead including pilot and first officer. 20 injured, 10 on the ground. The plane struck two catering trucks near a terminal.
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