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January 09, 1979 - Image 12

Resource type:
The Michigan Daily, 1979-01-09

Disclaimer: Computer generated plain text may have errors. Read more about this.

Page 12--Tuesday, January 9, 1979-The Michigan Daily

Headlee may force
tabling of city bonds


Every GM dealer is an
independent businessman.
No one can tell him what to
charge. Not the government,
and not the manufacturer.
But the government can
and does require that manu-
facturers post a suggested
retail price, or "sticker price,"
on every new car we build. It's
a good idea, because it makes
it easier for you to compare
one car against another.
Remember, the "sticker
price" is only the suggested
price. The actual selling price
may be different. That's be-
cause the law of supply and
demand affects the prices of
cars, just as it affects most
other prices. And market con-
ditions change all the time.
For example: a very pop-
ular model may sell at the
suggested price, but frequent-
ly cars will sell for less, be-
cause the automobile business
is highly competitive.
The difference between
the "sticker price" and the
wholesale price-that's what
the dealer pays us-is called the
markup, or dealer's discount.
This changes from time to

time, but as a general rule the
markup on small cars is lower
than on full-size cars.
The dealer's markup helps
to pay his rent, taxes, salaries,
utility bills-all that it costs to
run a business. And he also
has to make a profit, or he
can't stay in business. Last
year, GM dealers reported
about two cents profit on each
dollar of sales. As you can see,
competition doesn't leave the
average dealer a very big
margin of profit.
You can affect the price
you pay. It depends on the mar-
ketplace, for one thing. You
may get a bigger break if you
choose a slower-selling model
or a car the dealer already has
in stock. The latest sales fig-
ures published in many news-
papers will give you some idea
of how cars are selling, al-
though the demand for a par-
ticular model may be greater
or less in your area.
How much optional equip-
ment you order on your car
also makes a big difference in
its price. Go over the list care-
fully, and equip the car just
the way you want it. Then it
will have most value for you,
and you'll enjoy it more. You
shouldn't buy what you won't
use, although much of the
equipment you add to your

new car will make it worth
more when you decide it's
time to trade it in.
Most buyers trade in a
used car when they buy a
new one. And the value of
used cars varies according to
demand as well as to their
condition. Performance and
appearance count, so it's a
good idea to maintain your
car and keep it clean. The
more you can get for your old
car, the less will be your out-
of-pocket cost to replace it
with a new one.
But whichever car you
choose, the price should never
be your only consideration.
The dealer's reputation and
his service capability are also
Our interest is in helping
both you and the dealer to
get a fair deal. We want you
to be satisfied with your car.
That's good for you, good for
the dealer, and good for us.
This advertisement is part of
our continuing effort to give
customers useful information
about their cars and trucks
and the company that builds
them .
General Motors
People building transportation
to serve people

In a memo read at last night's City
Council meeting, City Planning Direc-
tor Martin Overhiser explained that
with the passage of the Headlee tax
limitation amendment last November,
certain bond sales which previously
could be handled by Council will have to
receive voter approval.
City Administrator Sylvester Murray
scheduled a working session for
January 22 at which Council members
will discuss the posssible presentation
of a bond sale to voters on the April
election ballot.
ALSO AT LAST night's meeting,
Council members passed a resolution
commending retired University
President Robben Fleming.
Several projects proposed in last
month's draft of the 1979-1984 Capital
Improvement Budget and

Program-which were to be funded by
special and general assessment bon-
ds-may be tabled until the bond sales
can be put before voters.
Overhiser said several cities are
facing the same problem as Ann Arbor
in dealing with Headlee's passage. "A
lot of it is new territory," he said.
All projects require authorization b
February 16 to assure placement on the
ballet, and certain of those previously
scheduled for commencement this year
will not be specified and documented in
time to meet the deadline.
Two . of the proposed 1979 projects
which voters may encounter on the
ballot this spring are a new south side
fire station and a solid waste disposal
study. This will be discussed further at
the working session in two weeks.

'U survey predicts
a mild '79 recession:

(Continued from Page 1)
telephone survey.
OVER HALF of the respondents ex-
pect a weakened economy this year,
while only 28 per cent believe the
economy will be strong.
"People are concerned with inflation
and the dent it makes on their income,''
Curtin stated.
Only 12 per cent of the respondents
expect their income to outrun the pace
of inflation for 1979. Though inflation
was indicated by the survey to be the
most important concern of consumers,
it was by no means the only.
ALONG WITH the rise in prices is a
"prime interest rate presently near an

all-time high," Curtin said. He added
that the interest rate made buying con-
ditions unfavorable.
The survey also indicated a shark$
slowdown in the rate of growth ii
households' financial net vorth and a
shift toward increased savings. Th~
household sector had outstanding total
financial assets of $2.96 for each dollai
of liabilities in mid-year 1978 as com
pared to the $3.87 figure of 1972, a report
issued by the SRC stated.
"Personal finances of a year ago
were expected to be slow with some
progress. Now they are believed to be
worsening," Curtinsaid.

Acting president Smith
faces heavy schedule

J ________________________1___________J____________f_______________________ 1____________________________________

All-star lineup.

(Continued from Page 1)
this may drain away the campus
money," said Smith. But he asserted
that construction of the 70-acre Medical
Campus, expected to cost somewhere in
the hundreds of millions of dollars,
ought to be absorbed in the budget
without serious cutbacks elsewhere.
A morning conference with the direc-
tor of the University Hospital and the
director of Hospital planning-as well
as a noon gathering with the Hospital
Executive Board-reflected the impor-
tance of the Hospital project to the
president. But during . his first day
Smith also found time for discussions
with a colleague on ,the Michigan
Union's future ("I think we should have
a student center"), on a city arts
festival, and on ROTC.-
AND THE DESK that Fleming had
left clean was covered with papers by 5
Some of the papers he would be
carrying home, he said, codld be leafed
through quickly, and part of the pile
would reach the waste basket in short

But it's a heavy schedule for the
professor who had intended to lecture
at Hasti'gs Law School in San Fran-
cisco this term before the Regents
asked him to stay on.
HE HELD UP a schedule book his
new secretary had filled with dates for
the next few months. "As you can see,
she did a pretty good job," he said
resignedly. "I'm not usedto somebody
else telling me what to do."
What he'll have to do includes
meetings with alumni in Denver and
Minnesota, a congressional luncheon in
Washington, Big Ten president's con-
ferences, a national univesity
president's meeting, and state business
on the budget.
Most of his duties, however, will take
place-like yesterday's-in Ann Arbor.
And as soon as someone alters the
second floor directory in the Ad-
ministration Building from R. W.
Fleming to A. F. Smith, just about
everyone should now who's in charge
for now.


Slimline TI-50 TM

Slimline TI-25 TM

There were dozens of folks in the line,
Who had gathered with appetites fine.
To enjoy Thursday nights'
International delights
In the League's cafeteria to dine. S. D.
LJe Next to Hill Auditorium
Located in theheart of the campus.
it is the heart of the campus ...

Lon er Lee
Open 7:15 AM to 4:00

Lunch 11:30 to 1:15
Dinner 5:00 to'7:15


Send your League Limerick to:
Manager. Michigan League
227 South Ingalls
You will receive 2 free dinner
tickets if your limerick is used in
one of our ads.

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i I -


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