Week of August 1, 1982
President Reagan admonishes the PLO to get out of Beirut immediately asks
Israel to maintain a strict cease-fire.
Israeli forces hit Beirut with a firestorm of artillery
and President Reagan sends a personal message
to Prime Minister
Menachem Begin
demanding
that a strict cease-fire be restored around the
Lebanese capital.
Seven of the nation’s largest banks cut their prime
lending rates to 15% to match the one-half
percentage point initiated by the Mellon Bank of
Pittsburgh.
More than 200 unemployed union members
demonstrate outside the White House marking the
first anniversary of Reaganomics. The 200
unemployed and retired auto and steel workers
chanted, “wake up, Mr. President, we want some work.”
President Reagan gets stuck in a White House elevator. “I don’t know just how to
approach this and tell you why we are late,” the president said, a little sheepishly,
to representatives of the National Health Fair programs.
The Mexican peso loses almost 36% of its value the government decides to let it
float against the U.S. dollar.
Unemployment rises to 9.8% in July - a 41-year high.
Sports - Hank Aaron - baseball’s all-time home run king and Frank Robinson, its
first black manager, enter the Baseball Hall of Fame in Cooperstown.
Media
- “E.T. the extra Terrestrial” so far has grossed $171 million in ticket sales
- all in less than 60 days after its release. Parent company MCA is said to be
cash rich - no debts at this time.
Passing -
Cathleen Nesbitt
- created the role of Henry
Higgins’ mother in “My Fair Lady.” She was 93.
