President Reagan and Prime Minister Margaret Thatcher at Camp David 1986.

WORLD EVENTS

·         William Buckley, American hostage in Lebanon, reported slain (Jan. 20).

·         Iraqi missiles kill 37 in attack on US frigate Stark in Persian Gulf (May 17); Iraqi president Hussein apologizes (May 18).

·         Prime Minister Thatcher wins rare third term in Britain (June 11).

·         Terry Waite, the special envoy of the Archbishop of Canterbury in Lebanon, is kidnapped in Beirut (Jan 20....released November 1991)

·         November 25 - Category 5 Typhoon Nina smashes the Philippines with 165 mph winds and devastating storm surge, causing destruction and 1,036 deaths.

U.S. EVENTS

     President: Ronald W. Reagan
     Vice President: George Bush
     Population: 242,288,918
     Life expectancy: 74.9 years
 

• R. Budd Dwyer, Treasurer for the Commonwealth of Pennsylvania, shoots and kills himself at a press conference after being found guilty on charges of bribery, fraud, conspiracy, and racketeering. (Jan. 22)
• Gary Hart drops out of the running for the Democratic Party nomination in the 1988 U.S. presidential election, amid allegations of an extra-marital affair with Donna Rice (May 8)
• Oliver North, Jr., tells Congressional inquiry higher officials approved his secret Iran-Contra operations (July 7–10).
• Reagan says Iran arms-Contra policy went astray and accepts responsibility (Aug. 12).
• The US is caught up in a drama that unfolds on television as a young child, Jessica McClure, falls down a well and is later rescued. (Oct. 14 – 16)

Robert P. Casey campaigning in Pittsburgh, 1986.

LOCAL EVENTS

July 8, 1986 -  The USX Corporation takes over USSteel

Aug. 15, 1986 – Ross Park Mall opens

Sept. 8, 1986 - The Gimbles Department Store was bought out by Hornes

Nov 4, 1986 - Bob Casey defeats Bill Scranton for Pennsylvania Governor

Dec. 19, 1986 - The Vista Hotel opens in downtown Pittsburgh

March 27, 1987 – Bon Jovi tickets on sale in Pittsburgh sell out in 3 hours

June 11, 1987 – COMMENCEMENT CEREMONIES FOR THE NORTH ALLEGHENY CLASS OF 1987

ECONOMICS

      US GDP (1998 dollars):   $4,692.30 billion
     Median Household Income (current dollars):  $26,061
     Consumer Price Index:   113.6
     Unemployment:   6.2%
     Cost of a first-class stamp:   $0.22

 

• The Dow Jones Industrial Average closes above the 2,500 mark for the first time at 2510.04.  (July 17)
• Black Monday: stock market levels fall sharply on Wall Street and around the world. (Oct. 19)

SCIENCE

• Prozac released for use in US by Eli Lilly & Company.
• AZT wins FDA approval for use in the treatment of AIDS.
• Richard Branson and Per Lindstrand make the first transatlantic hot-air balloon flight. 2,790 miles from Sugarloaf Mountain, Maine, to Ireland Virgin Atlantic Flyer (July 2–4).
• The first heart-lung transplant takes place (Baltimore, Maryland) (May 11)

Super Bowl XXI MVP Phil Simms.

SPORTS

Super Bowl:  NY Giants d. Denver (39-20)

World Series:  Minnesota d. St. Louis Cardinals (4-3)

NBA Championship:  LA Lakers d. Boston (4-2)

Stanley Cup:  Edmonton d. Philadelphia (4-3)

NCAA Basketball Championship:  Indiana d. Syracuse (74-73)

NCAA Football Champions:  Miami-FL (12-0-0)

WrestleMania III:  An event held by the World Wrestling Federation, takes place at the Pontiac Silverdome in, Pontiac, Michigan. The event is the largest indoor gathering in US history, with an official attendance of 93,173. In the main event, Hulk Hogan successfully defended the World Wrestling Federation Championship,  (March 29)