1 MSA won 't sponsor Homecoming activities The Michigan Daily-Wednesday, October 24, 1979-Page 3 By TOM MIRGA Voicing concern over allocating money to an already well-funded -organization, the Michigan Student Assembly (MSA) last night rejected a proposal to co-sponsore this weekend's Homecoming activities with the University Activities Center (UAC). 1 In addition to doubts about putting 'Assembly funds into what MSA General "Counsel Dave Fischer terms a "well- .moneyed organization," MSA members also questioned UAC's willingness to -put seed money into the event. H "I FEEL IT'S unfqrtunate they didn't . address the issue of the merit of iHomecoming," John Cadarette, UAC's iomecoming coordinator, said after the meeting. "They looked at us as a financial structure rather than as a program."~ * UAC Chief Financial Officer Mike Levitt said he could understand MSA's concerns and expressed his hope that UAC could continue to work with the Assembly in the future. "It wasn't in their allocation struc- ture to fund a program like ours," Levitt explained. "Most groups come to MSA with a single program, whereas UAC sponsors over 50 programs per term." MSA FIRST confronted the issue of funding Homecoming during their meeting last week. After a Budget Priorities Committee recommendation to earmark $550 for the event was slashed down to $250, the Assembly decided to withhold a final decision pending additional information on UAC's budget. Regardless of MSA's decision not to fund the event, Levitt said, Homecoming will still go on as planned. '"Seeing that we will not get the funds," he continued, "UAC will have to absorb somewhere betweeen six to seven hun- dred, dollars by making a profit on future programs." The Assembly last night also received assurances from Student Organizations,. Activities and Programs (SOAP) Representatives Maureen O'Rourke and Kevin Taylor that their office has no power to control MSA. "THE JIST OF MY responsibility," O'Rourke said, "is to work with MSA to clear up matters of concern before the University - or (Vice President for Student Services) Henry Johnson sees a need to step in." "So you see your main role as ex- plaining us to Johnson and not the other way around," said Assembly member Anne Fullerton. "No, it works both ways," O'Rourke reponded. "It's a lot like walking a tightrope." The Assembly also questioned the legality of the administration's supen- sion of MSA's funding capabilities in the wake of last year's election violations. Taylor affirmed the University's ac- tions, saying there was ample legal precedent for administrative discretion in the use of University general funds. Assembly member Kathy Machle disagreed with that characterization. "I've read a number of cases," the third-year law student said; "and it's my opinion that the Regents could get into a nice, messy lawsuit if they try to withhold our funds." ASK THEM WHY Banks raise prime rate to record 15% ~r Y FILMS Max Kade German House-Jonas (German, without subtitles), 8 p.m., 603 Oxford. Free., Adult Resources Center, Washtenaw Community College-Single Parent, noon, Drop-in Center, Student Center Building, 4800 East Huron River Drive. Free. Ann Arbor Film Co-op-Hamlet, 8 p.m., Aud. A, Angell Hall. Cinema Guild-Buster Keaton night, Film, Sherlock, Jr., Steamboat Bill, 7,9:05p.m., Old Arch. Aud. SPEAKERS- College of Engineering-William A. Beckman, University of Wisconsin, "Design Methods for Solar Energy Systems," 4 p.m., Room 15, Cooley Building. Refreshments at 3:45 p.m. WUOM-John Waller, sixth bushop of Episcopal Diocese of Washington, D.C.,Broadcast of discussion of Episcopal Convention. in Denver, Colo., and impact of Pope's visit to U.S., 10:05 a.m. , Center for Chinese Studies-Prof. Albert Feuerwerker, History Depar- tment, "China in the last Decades of the Twentieth Century: The Promise and Perils of Modernization," 7:30 p.m., 150 Hutchins Hall, Law Quad. Center for Western European Studies, Art History Department, Medieval and Renaissance Collegium-Prof. John Martin, Princeton, University, "Reuben's Last Paintings for Philip IV," 4:10 p.m., Aud. A, Angell Hall. International Association for the Advancement of Appropriate Technology for Developing Countries-Dr. Louis Porretta, Office of Inter- national Projects, Eastern Michigan University, "Education and Develop- ment: The Swaziland and Yemeni Education Projects," 8 p.m., E. Conf. Room, Rackham. Thomas M. Cooley Lecture-Guido Calabresi, "Nonsense on Stilts? The Lew Law and Economics Twenty Years Later," "The Need for 'Distributional Analysis: The Future of the New Law and Economics," 4 p.m., 120 Hutchins Hall, Law Quad. Washfenaw Association for Retarded Citizens-Marjorie Mitchell, president of Western Wayne Association and principal of Norris School, Wayne-Westland, "Mainstreaming the Trainable-Why, Where, How,' 7:30 p.m., High Point Cafetorium,1735 S. Wagner. Spartacus, Youth League-Mary Jo McAllister, SYL national-secretary, "For Worker's Revolution in Iran!: The Mullah's Left-Wing Apostles Paved the Way for Khomeini's Islamic Reaction!," 7:30 p.m., Conf. Room 4, Michigan Union. Center for Afro-American Studies-Linda Dunley, "Unveiling Swahili Mysteries: Islam in East Africa," 12:15 p.m., 246 Architecture and Design Building. Institute for Social Research Founders Symposium-Herbert A. Simon, Carnegie Mellon University, "Behavioral Science, Theory and Public Policy," 1:30 p.m., Rackham Auditorium. Eastern Michigan University, Office of Campus Life, Office of Minority Affairs-Carl Rowan, "Politics 1980-The Battle for America's Soul," 7 p.m., Pease Aud, EMU. Center for Eastern Studies-Subrata Roy Chowdhury, member of Inter- national Committee on Human Rights, "Rule of Law in Time of Emergency: The Indian Experiment,"8 p.m., West Conf. Room, Rackham. Department of Geology and Mineralogy-Richard R. Buffer, University of Texas Marine Science Institute, "Geologic History of Deep Gulf of Mexico Basin," 4 p.m., Room 4001, C. C. Little Building. Coffee at 3:30 p.m. American Statistical Asociation-Ann Arbor chapter -Prof. J. N. Darroch, Flinders University, Adelaide, Australia, "A Cohtingency Table Anslysis of Some Pedestrian Accident Rate," 7:30 p.m., Michigan Room, Michigan League. Ann Arbor Bahai Community-Sdndra Moyyad, "One People, One Planet,"8 p.m., Ecumenical Campus Center, 921 Church. Women's International League for Peace and Freedom, Ann Arbor League of Women Voters-Regent Sarah Power, "The Children of the World and the World They Live In," celebration of founding of United Nations, 7 p.m., City Hall'Council Chambers. Center for Russian and East European Studies-Robin Ackerman, "Yugoslav Culture in General and Folk Dance in Specific," noon, Lane Hall Commons. Communication Department-Chris Segure, NEH fellow, "Serving the Latino Community," 12:10 p.m., 2040 LSA. Center for Research on Learning and Teaching-W.J. McKeachie, "Get- ting Feedback-Evaluating Teaching," 3 p.m., 2417 Mason. Psychology Department -Gene P. Sackett, University of Washington, "Can Behavior Development Be Studied in Primates-And, If So, How?", 4:30 p.m., 3415 Mason. Wine and cheese at 4 p.m. Journeys-Pemba Tsering Sherpa, discussion and slide show of Himalayan travel, 7:30 p.m., Kendall Room, Michigan Union. Hillel - Wilfred Grenville-Gray, "Toward a Jewish Response to Repressions in South Africa," 8 p.m., 1429 Hill. MEETINGS Stilyagi Air Corps-University science fiction club, 8 p.m., Conf. Room 4, Michigan Union. Commission for Women-noon, 2549 LSA Building, open to public. PERFORMANCES Studio Theater Serbes-Edna St. Vinvcent Millay's Aria da Capo, L. Melfi's Birdbath, 4:10 p.m., Arena Theater, Frieze Bldg. Free. MISCELLANEOUS Women in Action-self-defense workshops, 7:30 p.m., Qonf. Rooms 1, 2, 3, Michigan Union. NEW YORK (AP)-Several major U.S. banks, faced with high costs of acquiring funds, yesterday raised their prime lending rates on business loans to a record 15 per cent. { Analysts expect the rest of the nation's biggest banks to follow suit in a few days. ONLY TWO WEEKS ago, the nation's major banks raised the rate they charge for loans to their most credit- worthy corporate borrowers by an un- precedented full percentage point, to 14.5 per cent. Morgan Guranty Trust, the fifth largest U.S. bank, in ranking by deposits, was the first of the big banks to post the half-point rise yesterday. It was soon joined by more than a dozen commercial banks, including most of the 15 largest. BANKS USE THE prime rate as the basis for setting interest rates on almost all commercial-industrial loans, Although the prime has no direct effect on consumer loan interest rates, it is Exxon reaps uge profits, gas mark-up questioned =.P. NEW YORK (AP)-Oil companies say their profits for July, August and September were huge. And, as with the previous quarter, the numbers are raising questions about where all the money is coming from. Ekxon, the world's largest oil com- pany, more than doubled its profits in the July-September quarter to $1.14 billion. Other companies also reported huge gains-Conoco Inc. said its profits rose 134 per cent. A spokesman for a union represen- ting oil industry workers called Exxon's earnings "pornographic." President Carter said they demonstrate need for a "windfall profits" tax. The oil companies are quick to ex- plain that most of their profits did not come from refining and marketing See EXXON'S, Page 6 viewed as an indicator of trends in in- terest rates generally. Many banks in several areas of the nation have cut back lending or raised interest rates for consumer credit such as installment loans or home mor- tgages. 4 4. 4. .r' ~ . S'I . "t. 4b 4. 4y 8 d. }9 i +f a. a. MhaOS Company is now Open for Business. 514 E. Washington 11 AM-2 AM 996-0555 Lunch & Dinner Ask VISTA volunteers why they work a year with residents of Chicago's Westside to set up community greenhouses. They'll probably say they're concerned for America's poor, they want to be involved in social change and help people learn to be advocates for resourses and services they need. Ask them: PLACEMENT CENTER STUDENT ACTIVITIES BLDG. OCT 30 - NOV. 1 ____j 1 .t - 2 /0 th eoun_ Presents the IETA-Pi contest Prize is a Car 5-7pm Fri.Oct.26 Must be6 registered by 4:00 at he bar. 1140 S.University 668-8411. Mon.-Sat. 11am-2am Sun. 3pm-12am