- Five Bank of Credit & Commerce members found guilty of money laundering
George Steinbrenner is forced by Commissioner Fay Vincent to resign as prinicipal partner of NY Yankees
- Soldiers opens fire on worshippers in Monrovian church, 200-600 die
- The first Saturn automobile rolls off the assembly line.
- Ian Gow, British Conservative parliament leader, murdered
- Karl Weber, dies of heart failure at 74