NerdiestKen
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Post by NerdiestKen on Dec 11, 2022 7:24:55 GMT -6
All facts and history from the 1988 World Almanac can be read here.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Joined - January 1970
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Post by NerdiestKen on Dec 13, 2022 11:47:22 GMT -6
Wall Street's Black Monday - October 19, 1987 Wall Street suffered its worst day in history, October 19, as the Dow Jones Industrial Average plummeted a record 508 points. 22.6% one-day decline was the largest since World War I, and was far greater than the 12.82% drop on October 28, 1929, that along with the following day's 11.7% decline preceeded the Great Depression.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Joined - January 1970
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Post by NerdiestKen on Dec 13, 2022 12:32:44 GMT -6
Texaco Files for Bankruptcy - April 1987 Texaco Inc., unable to resolve its costly legal dispute with Pennzoil Co., became of April 12, the largest U.S. company ever to file for bankruptcy. Texaco had been ordered by a Texas court to pay Pennzoil $8.53B for having wrongfully interfered with a merger agreement between Pennzoil and Getty Oil Co. Additionally, Texaco had been required to post a $12B bond while it appealed the original judgment. By filing under Chapter 11 of the U.S. bankruptcy code, Texaco could avoid posting the bond. Negotiations between Texaco and Pennzoil on a settlement continued.
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NerdiestKen
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Post by NerdiestKen on Dec 15, 2022 6:47:17 GMT -6
Unemployment Falls Again - July 1987 The Labor Department said, July 2, that the steady decline in unemployment continued in June, to 6% from 6.2% in May. The figure was its lowest since December 1979. The department reported, July 10, that the prices by producers for finished goods rose 0.2% in June. The Commerce Department said, July 15, that the U.S. deficit on merchandise trade grew to $14.4B in May. The department reported, July 24, that the gross national product at an annual rate of 2.6% in the second quarter. It said, July 30, that the index of leading economic indicators rose 0.8% in June. The bull market continued on Wall Street, with the Dow Jones industrial average closing at an all-time high of 2572.07 on July 31.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Joined - January 1970
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Post by NerdiestKen on Dec 17, 2022 17:59:56 GMT -6
Recordings The Recording Industry Association of America, Inc. (RIAA) confers Gold Record Awards on single records that sell one million units, Platinum Awards to those selling two million, Gold Awards to albums and their tape equivalents that sell 500,000 units, Platinum Awards to those selling one million, and Multi-Platinum to those selling two million or more. There were no Platinum Awards for single records in 1986. Multi-Platinum Awards for albums, Platinum Awards for albums, and Gold Awards for singles conferred in 1986 on records released in 1985 or 1986 follow.
Singles, Gold That's What Friends Are For - Dionne Warwick & Friends The Show (12") - Doug E. Fresh & the Get Fresh Crew On My Own - Patti LaBelle & Michael McDonald Crying in the Chapel - Elvis Presley Kiss - Prince & the Revolution Say You, Say Me (Movie soundtrack from White Knights) - Lionel Richie Super Bowl Shuffle - The Chicago Bears Shufflin' Crew
Part 2 to follow in a future post.
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NerdiestKen
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Post by NerdiestKen on Dec 25, 2022 19:21:30 GMT -6
Clean Water Bill Passed Over Veto - February 1987 A $20B bill aimed at cleaning up the nation's water supply became law over President Reagan's veto. Most of the money would spent for sewer construction. Polluted estuaries and runoff from polluted rainwater would be targeted, as would water poisoned by toxic dumps. Reagan had kill the bill by pocket veto in November, and had vetoed an identical bill, January 30, calling it a "budget-buster." Congress easily overrode the veto, the House by 401-26 on February 3, and the Senate by 86-14 on February 4.
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NerdiestKen
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Post by NerdiestKen on Feb 25, 2023 14:50:34 GMT -6
Reagan Back AIDS Education - April 1987 Pres. Ronald Reagan, speaking to the College of Physicians of Philadelphia, April 1, declared the acquired immune deficiency syndrome was "public health enemy No. 1" and said that the federal government would spend $766M and $1B to fight in fiscal years 1987 and 1988. He endorsed education about AIDS in the schools, and said that emphasis should be on the importance of sexual abstinence in young people and fidelity in marriage. Surgeon Gen. C. Everett Koop favored great emphasis on explicit instruction in schools on how to use condoms to reduce the risk of transmitting the AIDS virus. Responding to a question, Reagan said, "I don't quarrel with that," but he added that not enough attention had been given to the teaching of what was right and wrong in sexual matters.
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NerdiestKen
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Post by NerdiestKen on Feb 25, 2023 15:11:54 GMT -6
Bakker's Return to TV Ministry Barred - April 1987 The Rev. Jerry Falwell, the new chairman of the PTL board of directors, said that the board formally ended the ministry of the Rev. Jim Bakker. Bakker had stepped down from the ministry in March after admitting a liaison with a young woman in 1980. During April, more charges of sexual misconduct were made against Bakker, who denied them. It was also reported that Bakker and his wife Tammy Faye had received remunerations from PTL totaling $4.8M since 1984. Falwell, whom Bakker asked to take over PTL said, April 27, that Bakker had implied to him that "ther'll be a holy war" if he were not permitted to resume his ministry. Falwell said, April 28, that the PTL board had cut off all income to the Bakkers; obtained the resignation of the Rev. Richard Dortch, PTL's president and longtime associate of Bakkers; and stopped payments of a $265,000 fund established for Jessica Hahn, the church secretary with whom Bakker had had sex with in 1980. Falwell said that PTL was $50M in debt. The Assemblies of God, May 6, dismissed Bakker and Dortch as ministers. Bakker was cited for his "sexual encounter" with Hahn and for "his alleged misconduct involving bisexual activity." Dortch was dismissed for concealing "the immoral conduct of a fellow minister" and for his apparent role in a "coverup," a reference to the fact that he had negotiated a financial settlement with Hahn.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Post by NerdiestKen on Mar 9, 2023 12:22:54 GMT -6
NFL Final 1986 Standings NFC Eastern Division New York Giants 14W 2L 0T Washington Redskins 12W 4L 0T Dallas Cowboys 7W 9L 0T [e] Philadelphia Eagles 5W 10L 1T [e] St. Louis Cardinals 4W 11L 1T [e] | AFC Eastern Division New England Patriots 11W 5L 0T New York Jets 10W 6L 0T Miami Dolphins 8W 8L 0T [e] Buffalo Bills 4W 12L 0T [e] Indianapolis Colts 3W 13L 0T [e] | NFC Central Division Chicago Bears 14W 2L 0T Minnesota Vikings 9W 7L 0T [e] Detroit Tigers 5W 11L 0T [e] Green Bay Packers 4W 12L 0T [e] Tampa Bay Buccaneers 2W 14L 0T [e] | AFC Central Division Cleveland Browns 12W 4L 0T Cincinnati Bengals 10W 6L 0T Pittsburgh Steelers 6W 10L 0T [e] Houston Oilers 5W 11L 0T [e] | NFC Western Division San Francisco 49ers 10W 5L 1T Los Angeles Rams 10W 6L 0T Atlanta Falcons 7W 8L 1T [e] New Orleans Saints 7W 9L 0T [e] | AFC Western Division Denver Broncos 11W 5L 0T Kansas City Chiefs 10W 6L 0T Seattle Seahawks 10W 6L 0T [e] Los Angeles Raiders 8W 8L 0T [e] San Diego Chargers 4W 12L 0T [e] |
[e] - Denotes eliminated from playoff contention Kansas City Chiefs and Seattle Seahawks both had a win-loss record of 10-6 and a win-loss percentage of .625 respectively. But the Chiefs, by virtue of a tie, the Seahawks eliminated because Kansas City own the tiebreaker and got in the playoffs.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Joined - January 1970
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Post by NerdiestKen on Mar 9, 2023 12:28:36 GMT -6
Giants Defeat Broncos in Super Bowl - January 25, 1987 The New York Giants won their first Super Bowl championship by defeating the Devner Broncos 39-20 at the Rose Bowl in Pasadena, California. It was the Giants' first NFL championship since they defeated the Chicago Bears for the 1956 title. The Giants quarterback Phil Simms was chosen the game's most valuable player.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Post by NerdiestKen on Mar 20, 2023 8:54:55 GMT -6
Commerce Secretary Killed at Rodeo - July 1987 Sec. of Commerce Malcolm Baldrige was killed, July 25, when the horse he was riding reared and fell on top of him. Baldrige was practicing for an event at the fairgrounds in Walnut Creek, California. A veteran horseman, the 64-year-old Baldrige had participated in many rodeos. He had served in Pres. Ronald Reagan's cabinet since 1981, supporting free trade while urging Reagan to act against unfair international trade practices. Reagan, August 10, nominated C. William Verity, Jr., A retired chairman of Armco Inc., a steelmaking company, and a supporter of increased trade with the Soviet Union, to succeed Baldrige.
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NerdiestKen
Administrator
I don't just play games, I beat them.
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Joined - January 1970
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Post by NerdiestKen on Mar 20, 2023 9:03:03 GMT -6
96 die in San Juan Hotel Fire - December 1986 A fire of suspicious origin, engulfed the Dupont Plaza Hotel in San Juan, Puerto Rico on December 31, and claimed 96 lives, making it one of the worst hotel fires in U.S. history. More than 140 persons injured. The fire began in mid-afternoon in the ballroom and continued for 6 hours. The 22-story, 432-room hotel was packed with holiday visitors, many of whom were gambling in the hotel casino when the fire broke out. Many persons were rescued by helicopters from the rooftop and balconies. An investigation into the cause of the fire began immediately.
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NerdiestKen
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Post by NerdiestKen on Mar 26, 2023 11:34:41 GMT -6
TV Evangelist Quits in Sex Scandal - March 1987 Jim Bakker, an Assemblies of God minister who was one of the best-known television evangelists in the United States, resigned his ministry after admitting having sex with a young admirer in 1980. Bakker had run the PTL Club in Fort Mill, South Carolina---the initials stood for Praise the Lord and People that Love---and he and his wife, Tammy Faye, were hosts of a daily television program carried by hundreds of station through the PTL Network. The PTL also operated a Christian theme park in South Carolina. Bakker revealed to the Charlotte (N.C.) Observer, March 19, that "treacherous former friends" had betrayed him into a sexual encounter in a Clearwater (Fla.) hotel with Jessica Hahn, then 21. Bakker said he then "succumbed" to paying blackmail to Hahn to protect his family and ministry. Bakker called in Jerry Falwell, another leading Christian preacher on TV, to take over his ministry. Still another TV evangelist, Oral Roberts, made news, March 22, by entering the prayer tower at Oral Roberts University and saying he would remain there until raised $8M for medical scholarships. He had said God would "call him home" if the money wasn't collected. The Bakker plot thickened when his lawyer, Roy Grutman, said, March 24, that yet another TV preacher, Jimmy Swaggart, had plotted a hostile takeover of PTL. Swaggart denied it. Another evangelist, Marvin Gorman, sued Swaggart for $90M, saying Swaggart had spread sexual rumors about him. Hahn said, March 24, that she had only received only "a few dollars" of the money allegedly extorted from Bakker. Roberts said, April 1, that the $8M had been raised and that God had spared him.
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NerdiestKen
Administrator
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Post by NerdiestKen on Apr 8, 2023 15:50:33 GMT -6
Candidates Backed by Aquino Win - May 1987 Filipino voters elected a national legislature, May 13, and candidates supported by Pres. Corazon Aquino swept to victory. The voting, following the approval of a new constitution in February, consolidated Aquino's position as the democratic leader of the nation. The nation, as a whole, voted for the members of the Senate, with the top vote-getters being chosen for that chamber. The 200 members of the House of Representatives were chosen in individual districts. Aquino did not actually form a political party, but her endorsed candidates were generally referred to as the Laban, the name of the party founded by her late husband Begnino in 1978. Candidates endorsed by Aquino included both conservatives and reformers.
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NerdiestKen
Administrator
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Post by NerdiestKen on Apr 8, 2023 15:55:09 GMT -6
Powell Retires From Supreme Court - June 1987 Justice Lewis F. Powell, Jr. announced, June 26, his retirement from the U.S. Supreme Court. Powell, who was 79, said he was leaving because of his age and concern "that I could handicap the court in the event of reoccurances of serious health problems." Pres. Richard Nixon had named Powell to the Court in 1971. In a court that was sharply divided on many issues, Powell usually took a moderate stance and often cast the deciding vote in 5-4 decisions.
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