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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Aug 27, 1982
Page
1
UT System announces President W R Cardozier will resign to avoid hindering the drive for four year status at the Permian Basin campus. In a morning press conference he cited the ongoing campus debate and declined to discuss subsequent Austin offer specifics.
The Fed cut the discount rate to 10 percent, aiming to align with shorter term market rates. NYSE turnover hit a record 137.33 million shares on Thursday, while the Dow rose to 892.41 but slipped early trading. Unemployment stood at 9.8 percent as initial jobless claims rose to 608,000. The July U.S. trade deficit narrowed to 2.42 billion as non-oil imports fell.
Israeli defense minister Ariel Sharon holds talks with senior Reagan administration figures in Washington amid strains over the Palestinian issue. Secretary of State George P. Shultz previously rejected a Sharon request to meet, saying he would bypass U.S. Mideast envoy Philip Habib's peace efforts.
Yasser Arafat and top PLO leaders face a new political war 1500 miles from Jerusalem as Tunisia prepares to host the PLO headquarters. Guerrillas must surrender weapons to the Tunisian army and cannot train or carry arms in Tunisia, altering their influence away from Beirut and the Israeli front.
U S customs officials and Florida Power and Light burn seized marijuana to generate electricity at Port Everglades. About 800 tons burned, saving taxpayers roughly $250,000 after shredding and mixing with oil or gas. No odor or local effects reported, though incinerator wear is noted.
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