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News briefs, part 1

450 Branches to Close as Result Of BankAmerica Merger

Los Angeles Times

LOS ANGELES

BankAmerica Corp. said Monday that its merger with Security Pacific Corp. will result in the closing of a total of about 450 branches statewide -- the majority in Southern California where the two banks once competed fiercely for local business.

Although BankAmerica has closed some individual branches, Monday's announcement marked the first time that it has publicly disclosed the scope of its consolidation with Security Pacific. The new bank will operate about 990 branch offices in California, compared to a combined total of about 1, 440 at the time of the merger last April.

The closings are roughly in line with earlier industry estimates. BankAmerica has not disclosed the locations of many of the targeted branches, and it was not clear whether any offices in poorly served inner-city areas would be among those shutting their doors.

Probe Finds No Evidence Reagan Delayed Hostage Release

Los Angeles Times

Washington

A Senate investigation has failed to find "credible evidence" to support allegations that officials from Ronald Reagan's presidential campaign sought to delay the release of American hostages being held in Iran until after the 1980 elections, according to a report issued Monday.

But the Near East subcommittee of the Senate Foreign Relations Committee said that the Reagan-Bush campaign operated "on the outer limits of propriety" in gathering its own intelligence on the hostage crisis.

It also painted an unflattering portrait of the late William Casey, President Reagan's 1980 campaign director and later CIA director. Casey, the report said, was a man both "strongly committed to the proposition that the ends justify the means" and "intensely involved in the hostage crisis" during the 1980 campaign.

"The totality of the evidence does suggest that Casey was `fishing in troubled waters' and that he conducted informal, clandestine and potentially dangerous efforts on behalf of the Reagan campaign to gather intelligence on the volatile and unpredictable course of the hostage negotiations between the Carter administration and Iran," said the report by special committee counsel Reid Weingarten.

Weather

A Damp Week Ahead

By Michael Morgan
Staff Meteorologist

While residents of the central Rocky Mountains dig out of as much as one to two feet of snow, we in southern New England will be still drying out from the last few days of rain. The cyclone responsible for the heavy snows out west will give us more wet (not white!) weather by Thanksgiving Day.

Today: Mostly cloudy and cool. High 48F (9C).

Tonight: Partly cloudy and cool. Low 35F (2C).

Wednesday: Clouding up with rain and rain showers developing during the afternoon. High 50F (10C). Low 40F (4C).

Thursday: Cloudy with showers. Milder highs in the 50's (13C).

Travel Forecast

By Michael Morgan
Staff<\p>Meteorologist

Wednesday

Mid-Atlantic states: Mostly cloudy with rain showers. Highs 60's (18C). Lows 40's (7C). Southeast: Partly cloudy with showers. High 60's and 70's (21C). Lows 40's and 50's (10C). Midwest: Cloudy with rain and rain showers. Snow and snow showers in western portions. Highs 30's (2C) west to 50's (13C) east. Lows 20's (-4C) to 30's (2C). Northern plains: Partly cloudy and cold. Highs 30's (2C). Lows teens (-9C). Central plains: Cloudy with snow and snow showers. High 30's (2C). Low 20's (-4C). Southern plains: Partly cloudy and warm. High 50's and 60's (16C). Rocky Mountain states: Mostly sunny. Highs 20's (-4C) north to 40's (7C) south. Lows teens (-9C) to 20's (-4C). Pacific northwest: Cloudy with rain moving onshore. High 40's (7C). Lows 30's (2C). California: Rain/rain showers in the north. Sunny and dry in the south. Highs 50's (13C) north to near 70F (21C) south. Lows 30's (2C) to 40's (7C).

Thursday

Mid-Atlantic states: Variably cloudy with showers. Highs 50's (13C). Lows 30's (2C). Southeast: Partly cloudy with showers. Highs 50's and 60's (16C). Lows 40's and 50's (10C). Midwest: Cloudy and colder with rain and/or snow showers. Highs 30's (2C) west to 40's (7C) east. Lows 20's (-4C) to 30's (2C). Northern plains: Partly cloudy and cold. Highs 30's (2C). Lows teens (-9C). Central plains: Mostly sunny and cold. High in the low 40's (5C). Low 20's (-4C). Southern plains: Partly cloudy and warm. High 50's (13C). Rocky Mountain states: Mostly sunny. Highs 20's north (-4C) to 40's (7C) south. Lows teens (-9C) to 20's (-4C). Pacific northwest: Cloudy with rain. High 40's (7C). Lows 30's (2C). California: Rain/rain showers in the north. Sunny and dry in the south. Highs 50's (13C) north to near 70F (21C) south. Lows 30's (2C) to 40's (7C).