On this day

November 9, 1998

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

Historical Context for November 9, 1998

In 1998, the world population was approximately 6,007,066,690 people[†]

Historical Events

Nasdaq

1998A U.S. federal judge, in the largest civil settlement in American history, orders 37 U.S. brokerage houses to pay US$1.03 billion to cheated NASDAQ investors to compensate for price fixing.[†]

The Nasdaq Stock Market is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks. The exchange is made up of both American and foreign firms, with China and Israel being the largest foreign sources.

Capital punishment in the United Kingdom

1998Capital punishment in the United Kingdom, already abolished for murder, is completely abolished for all remaining capital offences.[†]

Capital punishment in the United Kingdom predates the formation of the UK, having been used in Britain and Ireland from ancient times until the second half of the 20th century. The last executions in the United Kingdom were by hanging, and took place in 1964; capital punishment for murder was suspended in 1965 and finally abolished in 1969. Although unused, the death penalty remained a legally defined punishment for certain offences such as treason until it was completely abolished in 1998; the last person to be executed for treason was William Joyce, in 1946. In 2004, Protocol No. 13 to the European Convention on Human Rights became binding on the United Kingdom; it prohibits the restoration of the death penalty as long as the UK is a party to the convention.

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Headlines from November 9, 1998

City to Speed Applications For Welfare

By Abby Goodnough

Federal inquiry into New York City Mayor Rudolph W Giuliani's new welfare policies has prompted his administration to speed up granting of applications for food and medical benefits; Jason A Turner, city's Human Resources Administration Commissioner, says that starting this week, all people seeking such benefits will receive full applications on their first visit to Welfare office (M)

Metropolitan Desk886 words

Some Consumer Magazines Are Getting Real

By Alex Kuczynski

Myrna Blyth, editor of Meredith Corp's More magazine, discusses publication's decision to deal with concerns of womankind that are not limited to youth; says as part of her editorial policy no model under the age of 40 appears in the magazine; dose of reality is helping sales to an aging American population; in last 18 months, several new magazines have also put this theory to the test; problem is that major advertisers are slow to invest in magazines that discuss ordinary conditions like aging or illness; some other nontraditional magazines include Mode, aimed at what publishers call the average-sized American woman--sizes 12,14,16 and beyond, and Mamm, magazine for women with cancer; magazine cover photos (M)

Business/Financial Desk1447 words

As Dalai Lama Woos Beijing, Tibetans Pray for His Return

By Seth Faison

Tibetans nurture fervent desire to see Dalai Lama, their exiled god and king, return to Potala Palace, and political atmosphere in China seems more open to negotiations on issue than at any time in a decade; Dalai Lama is proposing new initiative that he hopes will lead to talks with Chinese leaders, and he is expected seek support for it when he meets with Vice Pres Al Gore during his current visit to Washington; map; photo (M)

Foreign Desk1280 words

Investment Maverick Navigates the Internet

By Peter Truell

Robert H Lessin, former vice chairman with Salomon Smith Barney, started Wit Capital Corp, two-year-old private investment firm which aims to make itself method of choice for individuals interested in investing in young, fast-growing companies, most of them ventures related to the Internet; Wit came to the attention of the investment community in 1996 when it became fhe first company to sell stock directly to investors over the Internet; under Lessin's guidance, Wit seeks not only to invest in Internet economy, but also to get individuals involved in ground floor of initial public offerings by using Internet to build community of investors; Lessin photo (M)

Business/Financial Desk1611 words

Dispute Over New Wrinkle In Problem Of Year 2000

By Barnaby J. Feder

Computing's Year 2000 problem has new wrinkle stemming from purported timekeeping flaw discovered in August 1997 by Prof Jace Crouch of University of Michigan. and subsequently described at length on the Internet by Michael Echlin, programmer with Atomic Energy Canada Ltd; timekeeping flaw, know as Crouch-Echlin Effect, was noted by Crouch in testing aged 286 machine for compliance, and showed odd malfunctions when he decided not to reset the date to current time since he was using computer for word processing and date it logged made no difference; Echlin, learning of Crouch's findings, set up experiments on several computers that suggested Crouch's problems were not isolated; Douglas de Lacey, who oversees computer systems at Cambridge University school, says jury is still out on what is happening; de Lacey reported encountering Crouch-Echlin effect on two aging computers of his own; some critics say claims by two men are reckless, noting Crouch and Echlin have set up small firm that markets software to identify and neutralize the problem; photos (L)

Business/Financial Desk1981 words

A Busy Man of Opera Gets Even Busier; Domingo, Artistic Director in Washington, Is 'Upgrading' His Job in Los Angeles

By Allan Kozinn

Placido Domingo says he regards his appointment as artistic director of Los Angeles Opera not so much as a new job but rather as an upgrading of his current work as artistic adviser to the company; sees no problem fulfilling responsibilities in Los Angeles while serving as artistic director of Washington Opera and continuing his singing and conducting engagements around the world; his value as fund-raising asset to both companies more than offsets any problems that might be caused by potential scheduling conflicts; photos (M)

The Arts/Cultural Desk1869 words