Mubarak set to take presidency in Egypt referendum
Egypt votes on Mubarak amid heavy security as officials pledge to shoot troublemakers on sight. Nearly 12 million registered voters answer yes or no to Mubarak’s presidency, with the veteran leader poised to succeed Sadat after a brief political ascent and a backdrop of regional military ties and peace talks.
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Egypt Arms Aid and Troop Moves Stir Regional Debate
A Reuters summary reports U S officials backing accelerated arms shipments to Egypt and Sudan to counter Libyan adventurism. Defense officials discuss a broader joint exercise with Oman and Somalia including Marines, paratroopers, and B 52s while avoiding specifics on exact weapons and training commitments for Sudan.
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Poodle Pup Suspected in Cash Loss Case
A six month old cream poodle named Buffy is suspected after a money bag containing about five thousand dollars in cash checks and credit card stubs vanished from a Renton Washington home The owner Michele Collins says Buffy dragged the bag outside and it disappeared the next morning Collins notes the dog’s habit of carrying objects and questions remain about the loss tied to her boyfriend who had brought the bag home from a car rental business authorities have not charged the dog or owner with a crime and the couple appeals for its return
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Reagan backs AWACS sale to Saudi amid Sadat death
President Reagan argues Sale of advanced AWACS aircraft and weapons to Saudi Arabia is key to proving U S credibility to moderates in the wake of Anwar Sadat's death. He says Congress should approve the 8.5 billion package, despite House opposition and uncertain Senate support. Carter endorses the plan but diverges on PLO talks.
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Lutheran Home adds campus style expansion
Stilgenbauer described city orders as negotiable while noting the Lutheran Home expansion doubles staff to about 100. The third addition converts unusable rooms into 16 supportive living apartments for 32 residents needing supervision but not full care. Dr Leslie F Weber preached on church responsibility for national care.
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Juan Carlos and Reagan hold talks on Columbus Day
King Juan Carlos of Spain and Queen Sofia arrived for talks with President Reagan on the 489th anniversary of Columbus discovery. Officials said no major policy agenda, but Spanish sources suggested discussions on NATO plans and the Middle East after Sadat's assassination. The visit follows Spain's nonrecognition of Israel and ties to the Arab world.
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Banks cut prime to 18 percent in nationwide move
Citibank and Continental Illinois Bank of Chicago lowered their prime lending rate to 18 percent from 19 percent for top corporate customers. Crocker National Bank and Chase Manhattan had already matched the 18 percent level. The Fed cut its discount window surcharge to 2 percent from 3 percent, while keeping the discount rate at 14 percent.
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Tobin Wins Nobel Prize For Portfolio Selection Theory
Yale professor James Tobin won the 1981 Nobel Prize in Economic Sciences for portfolio selection theory, explaining diversification to reduce risk. The prize, worth a record 130000, cited his analysis of how households and firms allocate assets, contrasting with Friedman’s monetarist approach. Tobin called diversification “not putting all your eggs in one basket.”
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Sand shipment from Chardon to Saudi sheik’s pool
Walter C. Best Inc plans to load nine tons of Ohio sand into 100-pound bags for shipment to Baltimore then to Jidda Saudi Arabia. The sand will be used in a pool filter for a Sheik, via Structural Fibers Inc. and a distributor in Jidda. The firm notes the long distance, noting the sand is inexpensive at about 500 per ton.
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