NPR 2008-10-18

US stock markets swung between positive and negative territory dozens of times throughout the day and at the close, the main indices were lower. Traders clearly didn't take the advice of super investor 1 Warren Buffet 2 to buy American stocks. NPR's John Ydstie reports.

Economic reports showing the biggest monthly drop ever in consumer confidence and the largest decline in home construction in a quarter-century helped weigh stocks down. But some signs of thawing 3 in the credit freeze countered the bad economic news. Buffet's advice may have also helped keep stocks from larger losses. He wrote in the New York Times that a simple rule dictates 4 his buying: Be fearful when other are greedy; and be greedy when others are fearful. And he pointed 5 out fear is now widespread. The Dow Industrial's lost 127 points. The S&P 500 index was down almost 6 points. For the week, the S&P gained 4.6%, rebounding 7 from its worst weekly drop in 75 years. The Dow added 4.7% this week. John Ydstie, NPR News, Washington.

Alaska Senator Ted 6 Stevens spent today on the witness stand defending himself against corruption 8 charges in Federal Court. NPR's Nina Totenberg has details.

The 84-year-old Stevens held his famous temper in check systemically denying that he'd intentionally 9 failed to report a quarter-million dollars in gifts and services on a Senate disclosure form. He insisted that he paid all the bills he received but he didn't want many of the expansive items at issue in this case, and that he in fact told oil industry executive Bill Allen to take them away. The big gas grill 10, Stevens said he never used it. The wrap-around deck, he thought he had been billed and paid for it. The huge backup generator 11, he didn't want it. The household furniture, he didn't want that either and demanded it be taken away. Prosecutor 12 Brenda Morris: "You were the lion of the Senate, but you didn't know how to stop Bill Allen from putting big ticket items in your home?" Stevens replied: "I trusted him. He was my friend. He used the house more than I did."  Nina Totenberg, NPR News, Washington.

Levi Stubbs, the dynamic lead singer of the Four Tops has died. He was 72. The Motown group had 24 Top 40 hits and sold millions of records, including "Baby I Need Your Lovin'", "Reach Out I'll Be There", and "I Can't Help Myself".

And a closer look at Wall Street today. The Dow Jones Industrial Average closed down 127 points at 8852. It was up 4.7% for the week. The NASDAQ fell 6 points to close at 1711. It gained 3.7% on the week.This is NPR News.

Afghan officials and NATO say they are investigating the deaths of at least 17 civilians 14 who were killed in fighting between NATO-led forces and Taliban fighters in the southern Helmand province. NATO and Afghan forces have been trying to force Taliban fighters out of the region. Investigators 15 are trying to determine whether the civilians were killed by a NATO air strike or by insurgents 16. Civilian 13 deaths have fueled tensions between Afghans and Western forces.

The former head of UCLA's Donated Body Program has pleaded guilty to charges of selling human remains 17. NPR's Carrie Kahn has the story.

Henry Reid and another man were indicted 18 last May for selling body parts donated to the cadaver 19 program at the University of California, Los Angeles. Reid has pleaded guilty to conspiracy 20 to commit grand theft. Prosecutors 21 say Reid sold the donated body parts to a middle man Ernest Nelson, who then resold them to medical and hospital research companies. Officials say the conspiracy lasted five years and involved as many as 800 stolen body parts. Nelson has long claimed that the university was aware of his activities. University officials denied that and have apologized to families who donated their loved ones to the cadaver program. In 1996, UCLA's Willed Body Program ran into trouble for illegally disposing of the cremated 22 remains of donated bodies. Reid was hired to clean up that program.  Carrie Kahn, NPR News.

The Hubble Space Telescope is still hobbled. Yesterday NASA managed to switch Hubble from a faulty computer to a backup. But engineers say they found two more anomalies and suspended activating 23 the telescope science and observation instruments.