On this day

March 17, 1982

Revisit the music, news, notable people, and historical moments connected to this date.

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Headlines from March 17, 1982

BATUS BID IS ACCEPTED BY FIELD

By Isadore Barmash

Marshall Field & Company said yesterday that it would accept a $310 million takeover offer from Batus Inc., a major retailer owned by B.A.T. Industries of London. Four years ago, the Chicago-based retailer rejected a much more generous offer from Carter Hawley Hale Stores Inc. The decision by Marshall Field's board to accept the Batus offer reflects the retailer's opposition to a rival bid from a group headed by Carl C. Icahn, the New York financier and arbitrageur. Mr. Icahn, whose group has accumulated 29.3 percent of Field's stock since January, said late yesterday that he was irate over the Batus offer. ''We are considering litigation against Field,'' he said in a telephone interview. ''They are disregarding the rights of shareholders and really dissuading other buyers from making an offer for the Field's stock.''

Financial Desk964 words

PRIME BACK TO 16 1 2% AT 4 BIG BANKS

By Robert A. Bennett

A tentative trend toward lower interest rates was aborted yesterday as four major banks raised their prime lending rates half a percentage point, to 16 1/2 percent, reversing a downward move they made March 8. As a result, the prime rate at all the nation's major banks now stands at the 16 1/2 percent level. The four big banks that announced they would return their prime to the 16 1/2 percent level were the Chase Manhattan Bank, the Morgan Guaranty Trust Company, the Bankers Trust Company and the First National Bank of Chicago.

Financial Desk592 words

Quotations of the Day

By Unknown Author

''I can now inform you, dear comrades, that, striving to facilitate a just agreement on a major reduction of nuclear weapons by both sides in Europe, and desirous of setting a good example, the Soviet leadership has taken a decision to introduce, unilaterally, a moratorium on the development of medium-range nuclear armaments in the European part of the U.S.S.R.'' - Leonid I. Brezhnev, to convention of Soviet trade unions. (A6:1.)

Metropolitan Desk70 words

HAUT-BRION'S AMERICAN ACCENT

By Terry Robards

BRION, one of the greatest wine estates of France, was down and out in 1933, along with much of the world economy. The vineyard had been ranked as a premier grand cru, or first great growth, in the Bordeaux classification of 1855, but the market for its celebrated wines had shrunk, and its proprietor had committed a tactical error. He had decided to bypass the Bordeaux wine trade and maximize profits by selling directly to stores and restaurants, eliminating the middlemen who traditionally marketed the best Bordeaux wines. Rumors circulated that the Haut-Brion vines had been afflicted with blight, that they were no longer capable of yielding the wines of extraordinary richness and finesse that had made the chateau famous. Critics began whispering that Haut-Brion no longer merited its premier cru status, that it should be demoted from the exalted company of Chateau Lafite-Rothschild, Chateau Latour and Chateau Margaux, the only other properties that received premier cru recognition in 1855. The proprietor, Andre Gibert, decided to give up. He offered Haut-Brion to the city of Bordeaux on the condition that the property be maintained in perpetuity. The city leaders, deciding that forever was too long, turned him down. So Haut-Brion, with a history dating back to 1509, a property that Thomas Jefferson described in 1787 as the best in all of France for pleasing the American palate, was thrown on the real-estate market.

Living Desk1325 words

HUNDREDS TRAPPED IN PATH TRAIN FIRE

By William G. Blair

Hundreds of Manhattan-bound passengers were trapped for more than an hour in a PATH train that caught fire under the Hudson River yesterday morning before rescuers led them to safety through an emergency exit at the riverbank edge of Greenwich Village. Eighty-four persons were treated for smoke inhalation and 19 of them were admitted to hospitals for observation. No serious injuries were reported.

Metropolitan Desk548 words

Music on My Birthday

Billboard 200

The Top 50 albums for the chart week of March 17, 1982, covering March 17, 1982.

  1. 1
    Album cover for Beauty And The Beat by Go-Go's

    Beauty And The Beat

    Go-Go's

    Last week
    1
    Peak
    1
    Weeks
    34
  2. 2
    Album cover for Freeze-frame by The J. Geils Band

    Freeze-frame

    The J. Geils Band

    Last week
    2
    Peak
    1
    Weeks
    19
  3. 3
    Album cover for I Love Rock 'n' Roll by Joan Jett & The Blackhearts

    I Love Rock 'n' Roll

    Joan Jett & The Blackhearts

    Last week
    3
    Peak
    3
    Weeks
    14
  4. 4
    Album cover for 4 by Foreigner

    4

    Foreigner

    Last week
    4
    Peak
    1
    Weeks
    35
  5. 5
    Album cover for Escape by Journey

    Escape

    Journey

    Last week
    5
    Peak
    1
    Weeks
    33

Notable Births

Steven Pienaar

1982Steven Pienaar, South African footballer[†]

Steven Jerome Pienaar is a South African former professional footballer and current coach of the U14 team of Sharjah FC in the United Arab Emirates.

Historical Context for March 17, 1982

In 1982, the world population was approximately 4,612,673,421 people[†]