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October 28, 1979 - Image 2

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The Michigan Daily, 1979-10-28

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Page 2-Sunday, October 28, 1979-The Michigan Daily

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Wftaft.

..
1

invites you to join him
SANDWICH SPECIALS
50C Off All Sandwiches
Sunday, Oct. 28-6 p.m.-12 a.m.
11404South Universitys
Mon.-Sat. I I a.mn.-2 a.m. Sun 3p.mn.-12

for
S668-8411
2a. m.

Fraser
conflict of
interest
Scharged

DETROIT (AP)-Some analysts of corporate boards say
United Auto Workers union (UAW) President Douglas
Fraser faces a real conflict of interest in becoming a director
of Chrysler Corp. But the predict that won't stop him from
performing well in the role.
"It's going to be very difficult for him to maintain the ad-
versary relationship, which he has a responsibility to main-
tain," said Professor Miles Mace, who has retired from
teaching at the Harvard Business School and describes him-
self as a "professional director."
"I THINK HE'LL be a damned good director," Mace said.
"It's a fine idea because of his interest and involvement in
monitoring what Chrysler management is doing.
"Where in the world were the old Chrysler directors all
these years? I'm going to write Mr. (Chrysler Chairman
Lee) Iacocca and suggest that Fraser be taken on right away
and not wait until May."
As part of the settlement of a new contract, the financially
desperate No. 3 automaker said on Thursday it would put
Fraser's name before shareholders for election at the May
annual meeting.
NO OTHER MAJOR U.S. corporation has a union official

on its board. But thousands of other directors, notably-
bankers, also are serving two masters.
Another Harvard business professor, Kenneth Andrews,
questioned how Fraser's new position would affect his role as
a bargainer for workers at GM and Ford.
"Nobody is saying he's going to take confidential Chrysler
information. . . and use it in bargaining with GM and Ford,
but ti's the appearance that counts," continued Andrews,
editor of the Harvard Business Review and author of its
"From the Boardroom" column.
FRASER HIMSELF said Thursday he saw no conflict-he
would go thereto "represent the auto workers."
Chrysler's chief negotiator, William O'Brien, said the
company was "delighted" that Fraser would join the board.
The idea of a director representing anybody other than the;
shareholders bothers many observers such as Robert Estes':
retired general counsel of General Electric Corp., and author:
of several articles on directors.
"The law and folk law say the shareholder comes first,
Estes said. But he added that a conflict of interest is "more a..
question of priniciple than a serious operational drawback."

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SA YS SOVIET SUB MISHAP MA Y B.E RESPONSIBLE 4
, x

I MATH.-SCIENCEI

J
-S
ter
"re
Sov
wh4
nuc

i0
S. Africa looks into explosin
OHANNESBURG,South Africa (AP) 'The sources said that if a reactor
outh Africa's naval chief said yes- meltdown had occurred aboard a ship it telligence community much earlier. "It is a matter of c
day the navy was investigating the would have triggered different signals SOUTH AFRICAN navy chief Vice that there was during
al possibility" an accident aboard a than a nuclear blast, and that in the Adm. J.C. Walters said yesterday he tember, for instance
iet submarine may have caused highly unlikely event a nuclear weapon was surprised reports of the incident class nuclear subma
at U.S. intelligence reported as a had exploded, it would have been did not focus on the "real possibility" of of the strategic pas
lear explosion in the Southern general knowledge within the in- a shipboard disaster. Cape of Good Hope, M

ommon kriowledge
g the period of Sep-
,a Soviet Echo II-
rine in the vicinity
sage" around the
Walters said.

I. '

Hemisphere.
U.S. officials had suggested that a
bright flash detected by a spy satellite
Sept. 22 may have been a South African
nuclear bomb tests. But the government
here has heatedly rejected that ex-
planation.
IN WASHINGTON yesterday, U.S.
officials said they had no new infor-
mation on the incident, and as yet no
"corroborative evidence"-such as
radiation counts-even to prove con-
clusively that it was a nuclear blast.
They had no comment on the South
African theory about a submarine ac-
cident.
The Soviet Foreign Ministry in
Moscow, queried by reporters, also had
no official comment. But some Western
military sources, who asked not to be
identified, were highly skeptical of the
South African theory.

n --

"... .,..r F.. _ a

O+lfirms defend quarter profits

Ask a Peace Corps volunteer why -he teiche math and
general science to high school student sir era West
Africa..Ask another volunteer why he teaches biology and
physics in the Pacific Islands. They'll probably say they
want to help lople, want to ise their skills, travel learn a
new language or experience another culture. Ask them:
PLACEMENT CENTER STUDENT ACTIVITIES BLDG.
OCT 3DO- NOV1

From AP and UPI
"Profit isn't the result of ripping off
the public," said a Gulf Oil Corp. ad last
week. But as major oil companies
report combined profits nearly double
those of last year, Americans just don't
believe it.
The 21 large oil companies so far
reporting third quarter results had
combined profits of $5.6 billion - a 92
per cent jump over the $2.9 billion the
same companies earned last year in the
period. Since January, earnings of the
21 companies are up 72 per cent over
the first nine months of 1978.
THE THIRD quarter results include
the 211 per cent gain announced Friday

by Texaco as well as the earlier reports
of a 118 per cent increase by Exxon, 130
per cent by Mobil and 191 per cent by
Standard of Ohio.
Those third-quarter profit sheets
touched off a round of anti-oil rhetoric
on the part of both the president and
congressional supporters of the win-
dfall profits tax.
Congressional leaders saw it as. ad-
ding momentumn to the drive to pass the
tax, now headed for Senate floor action.
House Speaker Thomas O'Neill called.
the profits 'a national disgrace" and
said it should "send a signal to the
Senate" to pass as strong a windfall
profits tax as possible.

OIL COMPANIES have taken pains
to explain the bulk of their increased
profits have come at the expense of
consumers outside the ;United States,.,
that results a year ago weren't so good
so the profits now just look, very hig4
and that earnings on each dollar of..-
sales only amount to six cents or so.
What carries the most weight in the
public mind, however, is that the huge
profits come as Americans havehad to
adjust to record gasoline and winter
heating prices. Gasoline prices rose 3.5
per cent in September to an average of
99.8 cents a gallon, an increase of 31.3 .
cents this year. Home heating oil has.
gone up 30.3 cents to 84.8 cents a gallon:

Delta Chis from the past
return for Homecoming

... ... " .: . n.... S.
Monday.OOctoberc29.1979

(Continued from Page 1)
from Connecticut, Tennessee, and other
states, but mostly from around
Michigan. They represented classes
from 1925 to 1978.
Many of the returning Delta
Chis-with diverse, disconnected
backgrounds since they left the Univer-
sity-seemed to have only one thing in
common today: A mutual exposure to
the traditions of the fraternity and their

PEA wRPS

,#

................... 1.

- ! m -

Could you pass this Red Cross swimming test?

experiences within an aging brick
house at 1705 Hill St.
As their friends and families stood
quietly in the front room, the alumni
wandered through the at first un-
familiar surroundings, their faces
reflecting wonderment and fascination.
Before the game, a subued, formal
atmosphere prevailed as returning
brothers exchanged graduation years,
occupations, and introductions of
families. They took their guests on
house tours, and quietly left for
Michigan Stadium.
Upon returning-under the influence
of a dramatic victory and various
spirits-the brothers were overflowing
with jubiliation. Brothers hugged each
other; laughter filled the house.
"I come back for the comraderie,"
said 'Frank Morrey, a 1964 graduate,
"and to sing the old dirty songs. I'll be
disappointed if nobody comes that can
play those old songs on the piano."
Artificial reefs have been created off
the coasts of Florida and Texas by
sinking discarded car tires into the
ocean.

Daily Calendar
Near Eastern Studies/N. African Studies! Rhods
Murphy. Jr., "Irrigation Projects in Mesopotamia
during the Ottoman Period and Their Economic Im-
pact," Lane Commons, noon.
Physics/Astronomy: T. Girard, Macalester
College, "The Development of A New High
Resolution Positron -Spectrometer for Heavy Ion
Reaction:Analysis;'.038 Randall,.12:15 p.m.
English Language & Literature: Gayatri Spivak..
"Woman/Object in Dante and Yeats: Prob.lems of
Deconstructive Practice," W. Conf. Rm.. Rackham,
4 p.m.
Macromolecular Research Ctr.,: William P.
Gergen, "Unique Aspects of the Melt Rheology of
Block Copolyme'rs," 3005 Chem.,4p.m.
Oral Biology: David v. Smith, U-Wyoming,
"Neural Coding of Gustatory Information," 1033
Kellogg. 4 p.m.
SSEAS: Stewart Gordon, "village and Central
Government in Pre-Modern Kingdoms," 246 Lane, 4
p.m.
Career Planning & Placement
3200 SAB-764-7460
William L. Patterson Foundation offers three
grants in amounts ranging from $500 to $1000. Open
to persons or organizations engaged in projects.
research or activity pertinent to today's struggle
against racism, oppression and exploitation.
The University of Detroit is sponsoring a
Metropolitan Detroit Careers Convention on Wed..
Oct. 24, 1979. This community wide effor has the sup-
port of leaders in business, industry, government
and education. It's an opportunity for students to
learn about careers and the Detroit community.
The Annual Fellowship Competition of the prin-
ting, publishing and packaging industry is open in

SWIM:
1. Breaststroke-100 Yds.
2. Sidestroke -100 Yds.
3. Crawl stroke -100 Yds.
4. Back crawl-50 Yds.
5. On back (legs only)-50 Yds.
6. Turns (on front, back, side).
7. Surface dive -underwater swim-20 Ft.
S. Disrobe-float with clothes -5 rins.
9. Long shallow dive.
10. Running front dive.
11. 10-minute swim.

Anybody who's taken a Red Cross swim course knows
how tough it can be. There's a good reason.
We believe drowning is a serious business.
Last year alone, we taught 2,589,203 Americans not
to drown -in the seven different swim courses we offer
all across the country. (Incidentally, most of the teaching -
as with almost everything American Red Cross does -
is done by dedicated volunteers.)
A good many of the youngsters not only are learning
to keep themselves safe. Thousands upon thousands of
them are learning to become lifesavers.
And the life they save'may be your own.
A Public Service of This Newspaper & The Advertising Council

the following areas of study: Physics, chemistry;
business, engineering, industrial education apd
mathematics. Primary interests are fields which
contribute to the printing and publishing industry, as,
well as related industries, i.e., paper, ink, etc.'
stipend up to $1000.
The 11th Annual Philip Morris Marketing/Com-
munications-Competition is open to graduate and Nn,
dergraduate students. A first place award of $2000, a'
second place of $1000 and a third place award will be
given to the winning teams in both the graduate and
undergraduate categories.
Mr. and Mrs. Spencer T. Olin Fellowships are
available for women at Washington University,
Awards up to $4,500 for the academic year.
1979 MBA Admission Forums: Chicago, Nov.30-
Dec. 1, Holiday Inn Mart Plaza, 350 N. Orleans
Street; San Francisco, Nov. 30-Dec. ,1 Holiday Inn
Golden Gateway, 1500 Van Ness Ave.
The Lady Davis Fellowship Trust, P.O. Box 1255.
Jerusalem, Israel-Graduate or Post-Doctoral
Fellowships available for study, research or
teaching at the Hebrew University of Jerusalem and
the Technion-Israel Institute of Technology. Haifa.
Check the D.O.B. file at Career Planning &
Placement for detailed information on the above
fellowships and awards.
THE MICHIGAN DAILY
(USPS 344-900)
Volume LXXXX, No. 46
Sunday. October 28. 1979...
is edited and managed by students at
the University of Michigan. Published
daily Tuesday through Sunday mornings
during the University year at 420
Mayard Street= Ann Arbor, Michigan
48109. Subscription rates: $12 Septem-
ber through April (2 semesters);$13 by
mail outside Ann Arbor. Summer
session published Tuesday through
Saturday mornings. Subscription rates:
$6.50 in Ann Arbor; $7.00 by mail out-
side Ann Arbor. Second class postage
paid at Ann Arbor, Michigan. POST-
MASTER: Send address changes to
THE MICHIGAN DAILY, 420 Maynard
Street, Ann Arbor, MI 48109.

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