Thank you for your help. I have read the codex, and the_time() does not suit my needs. I will explain with more detail, as clarification is warranted.
Per the Codex:
SPECIAL NOTE: When there are multiple posts on a page published under the SAME DAY, the_date() only displays the date for the first post [that is, the first instance of the_date()]. To repeat the date for posts published under the same day, you should use the Template Tag the_time() with a date-specific format string.
This is precisely why I used the_date() in place of the_time(). I seek to use the_date() as a heading for multiple posts from the same day. the_time() repeats the day for each post. I only want it displayed once for each set of posts (from the same day).
My problem is that I am using multiple loops, and the_date() does not expire after each loop. Suppose the first loop generates News items, and the second shows my blog entries.
In the first (News) loop, suppose posts are displayed from 7/31/2006 - 8/1/2006. the_date() will display the date once above all posts from 8/1, then once above all posts for 7/31.
Now in the second (Blog) loop, suppose posts exist from 7/30/2006 - 7/31/2006. the_date() will not place the date above the posts from 7/31, since that date was previously displayed in the first loop. It will, however, display the date once above posts from 7/30.
Perhaps it would be beneficial to rephrase my question... How can I cause the_time() to reset after the first loop, so in the second loop, it will display the date above all groupings of posts by day? The Codex does not address this and an answer is not given in the support forums.
Thank you again.