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September 07, 1974 - Image 2

Resource type:
Text
Publication:
The Michigan Daily, 1974-09-07

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Page Two

I HE MICHIGAN DAILY

Saturday, September7, 19-l+

Page Two THE MICHI(.~AN DAILY

I

TI4RU THE

Kuwait bids for British

real

estate company

LONDON (A)-Kuwait, an oil-:
rich Persian Gulf sheikhdom,
made a multimillion dollar bid
yesterday for a British real
estate firm, the first Arab move
to buy a British company out-
right.
The Kuwait investment office'
offered $210.4 million for St.
Martin's Property Corp. Kuwait
already owns 8 per cent of the
firm's stock and is now bidding
for the other 92 per cent.
The bid sparked a rally for
real estate shares on the Lon-
don stock market where the sec-

4,

tor had been depressed by taxes
and other curbs on property
speculation.
The bid came from Noble Gos-
sart, a Scottish investment bank,
acting on behalf of the Kuwait
investment office, which has
operated in London for the past
20 years. It is part of the Ku-
wait Ministry of Finance and
handles the sheikhdom's grow-
ing oil revenues.
The offer topped an earlier bid
by Commercial Union, a British
insurance giant. Commercial
Union offered $166.5 million for
90 per cent of St. Martin's
shares. The company already
owns the other 10 per cent.
Kuwait made the bid on con-
dition it does not have to go
through the British Monopolies
Commission.
Financial sources explained
that merger agreements, before
they become final, have a clause
saying the deal is conditional on
approval by the Monopolies
Commission. This clause is of-
ten a mere formality and is
used even if the merger in-
volves firms worth only a few
thousand pounds.
Informants said the deletion
sought by Kuwait makes no dif-
ference as the Monopolies Com-
mission rarely moves in. In

cases involving British chemical
giants, shipping lines or indus-
tries manufacturing consumer
goods, the commission could in-
tervene, clause or no clause, to
prevent price-rigging by merged
groups.
Other Arab investors here in-
clude the government of Abu
Dbabi, which recently bought 44
per cent of the Commercial
Union skyscraper in the finan-
cial heart of London for about
$83.5 million.
Arabstakes in the British
economy are hard to pin down
because of secrecy surrounding
such operations.
The Persian Gulf sheikhdoms
are known to have been active
in the stock market, but their
operations have been spread out
to avoid the British requirement
that anyone buying 10 per cent
or more of a firm's shares must
declare it..
Numerous individual Arabs
have bought real estate and
equity in Britain, but they can-
not be traced sufficiently to
give an over-all picture.
Financial sources said the
Arabs are cautious about sink-
ing too much money in British
industry. They apparently fear
industrial firms might be na-
tionalized by the Labor govern-
ment.

Becoming a physician is a tremendous
satisfaction.
Let us give you the job satisfaction
that should go with it.

Striking teachers

Daily-Photo by STUART HOLLANDER
Lions and tigers and bears, oh my!
Seven-year-old Janine Weaver examines the stuffed animals of the Indian booth at the Ethnic
festival yesterday. The festival continues today on the barricaded section of Main St. from 11
a.m. to 11 P.m.
FIFTEEN KILLED:

resume

ba

Whether you're still in medical school with the
rigors of three to five years of graduate medical edu-
cation still to be faced, or are already a practicing
physician, it's our opinion that the Air Force can
toffer both professional and personal satisfaction
hard to duplicate in civilian life.
An overstatement? Not if you consider the
specifics.
Take the problem of graduate medical educa-
tion. It's a period of your life the Air Force can make
considerably easier with comfortable salary and liv-
ing conditions.
Creature comforts aside, the Air Force offers
professional advantages. Besides receiving training
in your own specialty, you'd be in contact with
physicians in all of the medical specialties. You'll
function in an environment which is intellectually
stimulating and professionally challenging.
Not all physicians pursue post residency fellow-
ships. But if you are interested, the Air Force con-
ducts them both in-house and atcivilian institutions.
The physician already in practice can look for-
ward to other things. If you want training in the
practice of the medicine of the future, you'll find it
in the Air Force. For example, there's emphasis on
group medicine and preventive medicine, and the
growing specialty of "family physician." Whatever
your interest, there are few specialties which are not
being practiced in today's Air Force.

the Air Force does not. He finds his office established
for him. Supplies and equipment readily available.
He has many options available to him when treating
patients. For example, he can consult with Air Force
specialists. He also has referral to other Air Force
facilities via aeromedical evacuation. Last, but not
least, are the satisfactions that come with having
the opportunity for regular follow-ups, and a missed
appointment rate that is practically nil.
Whether you are already a physician, or soon to
become one, you might find it extremely interesting
to find out what the Air Force has to offer. We think
it could be awreal eye-opener. If you' 11 mail in the cou-
pon, we'd be happy to send you detailed information.
--"-------------------
Air Force portuniti CC-94
Peoria. 1t. 61614
Please send me information on the Air Force Physician Pro
Igram. I understand there is no obligation.
Name (i..e Print) Sex{Mp,4_F)_
I Address
City
State Zip Phone
Soc. Sec #ADate of Birth
H alth C s.a it bar

(Continued from Page 1)
talks broke off Wednesday night.
Both teams expressed their de-
sire to begin negotiations at a
' public debate Thursday night,
and today's session is apparent-
ly an outgrowth of that feeling.
The AAEA was the first to
break the ice. It called mediator
Cadwell after the debate, but a
meeting could not be arranged
before today because of schedule
conflicts.
Association spokes w o m a n
Anne Harrell said last night that
"people are optimistic" about
a settlement. "We still have
room to move, though not a
lot . . . but we're not locked
in our positions."
School board member Henry
Johnson, who also serves as
University Vice-president for

F
i
l
I

irgaining
sides could compromise on is-
sues, but cautioned\ that the
board could not alter its basic
stands too far.
Both sides have reached un-
derstandings on what the board
considers the only contract
questions-a new salary sched-
ule, a cut in the driver-educa-
tion program, and an increase
in the contact time middle
school teachers spend with stu-
dents.

C.
i
a
1
4
: .

Iraq bombs Iran villages

TEHERAN (Reuter) - Fif- Two Iraqi planes dropped four I
teen people, including nine chil- bombs on Kohne-Lahojan, kill-
dren were killed yesterday ing 15 people, including nine
when Iraqi aircraft bombed two children aged less than 12
Iranian border villages, the gov- years, wounding three and de-
ernment - owned Paris News stroying and damaging homes,
Agency said here. according to the agency.

end their border dispute. A re-
cent statement from Teheran
said there had been progress
and preparations were being
made for further talks at an
appropriate level.
Last week Iraq accused Iran

t
e
ti
c(
to

The physician starting his practice in civilian l %$eai vs student services said -there det-
life has to take into account the cost of setting up an Air Force initely is" a chance for settle-
office. The physician commencing his practice in L-----F-rc... . ment in the next few days.
Johnson said he hoped both
MEDIEVAL and RENAISSANCE
COLLEGIUM
Creative education begins with seeing the, old in new ways. The Medieval-Renaissance Col-
legium, an interdisciplinary program committed to this end, is offering a selection of stinulat-
ing and innovative courses for fall term-which are still open for enrollment. These courses are:
MARC 311. (Hist. 310, RC Hums. 336) THE ROLE King Aruthur and his knights. Beginning with
OF MATERIAL RESOURCES IN MEDIEVAL AND the early chronicles and a discussion of the possible
RENAISSANCE CULTURE. historicity of Arthur, the course will examine the
Jeanne Gordus, History, with others. MWF 4:00. Celtic sources and literary development of Arthur-
4 credits. ian Romance, especially in France and England.
Man's increasing c o n t r o I over his environment, Pride of place in the course is assigned to Le Morte
examined from many different perspectives. The Darthur of Sir Thomas Malory.
geography and climate of western Europe; basic
methods of cultivation and systems of land tenure; MARC 357. (Eng. 313) THE COURT OF RICH--
livestock and the wool trade; spices; metalwork- ARD I. Jeanne Martin, English, with others.
ing, stone work, shipbuilding, and artistic tech- TTh 1:00-3:00. 4 credits.
niques; the development of printing and gunpow- The world of Chauter, of Froissart, of Cower, of
nauralcsh and other systems for manipulating John of Gaunt, of the Peasants' Revolt, of Dick
Whittington. Richard II as a royal patron of art,
MARC 315. (Hist. 316, RC Hums. 337) LAW, music, and poetry, and the effect of political de-
MORALS, AND SOCIETY. Charles Donahue and ties of his Court.
Thomas Green, Law School, and Thomas Tentler,
History, with others. TTh 11:00 and Th 4:00. MARC 372. (Hist. 396) INTELLECTUAL CUR-
4 credits. RNSO H EASAC.PuieWts
An exploration of the interplay between legal History, with others. T 3:00-5:00, Th 3:00.
theory and moral systems, within the bounds im-
posed by existing social and legal institutions in the An exploration of some major areas of Renaissance
Middle Ages and Renaissance. Four specific themes thought: the nature of God, his relation to Nature;
will be examined as touchstones for understanding his relation to Man; man's place in the order of
both the multiplicity of legal systems, secular and the universe; the influence of ancient thought on
ecclesiastical, and also the interrelationships sug- the development of Renaissance problems. The re-
gested by the course title. They are: royal succes- lation of intellectual inquiry to other aspects of
sion (the deposition of Richard II, 1399), mar- Renaissance civilization.
riage (High Middle Ages), homicide (High Middle
Ages), and witchcraft (Late Middle Ages and MARC 490. DIRECTED READINGS. Charles Trin-
Renaissance). Previous work in the history or kaus and staff. Time and place arranged; permission
thought of the period may be helpful but is not of instructor required. 1 to 4 credits.
required. Intended for the advanced student who wishes to
continue work beyond the limits of a formal
MARC 325. (Eng. 355) THE ARTHURIAN TRA- course. Written permission of the instructor must
DITION. John Reidy, English, with others. be submitted to the MARC office before enroll-
MW 1:00-3:00. 4 credits. ment will be valid. Inquire at the MARC office,
A survey of the main elements of the tradition of room N-12, Law Quad (76-2066) for details.
WINTER TERM COURSES 1975
MARC 201. 4 hours. THE HIGH MIDDLE AGES: MARC 345 (crosslisted History of Art 545). 3 hours.
BACKGROUND & BASIC CULTURAL THEMES. BASILICA TO CATHEDRAL, MEDIEVAL BUILD-
- ..,,_nt1, -_TNG.l rlf-o d. ~

However, a list of additional
eacher demands has been term-
ed unacceptable by board nego-
iators, who want all remaining
contract issues to revert to the
erms of the 1973-74 pact.
It is this stumbling block
which currently separates the
wo sides.
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Iran delivered protest notes The planes dropped t w o of massing troops along their
holding Iraq responsible for the bombs on Ghaleh-Tarash but joint border and launching a
"grave consequences" of the at- there were no casualties, the night attack in which an Iraqi
tacks, the agency said. agency said. frontier guard was killed.
Iran's representative at the Earlier, said the agency, four ,e same time Iran said
d Iraqi planeameiltimd Irani'said
United Nations was instructed Iraqi plates violated Iranian air thr ' Traqi tanks were destroy-
to p r o t e s t against Iraq's space but were driven back by ed and three Iraqisoldiers kill-
"bloody aggression." anti-aircraft defenses. ed an the Iq sors i-
Protest notes were handed to Gdihlse it t ocsi
The villages were named as Iraq's embassy in Theran and the border regions of Ghassr-
Kohne-Lahojan and Ghalem- by the Iranian ambassador in Shirin and Nafte-Shah.
Tarash.- Baghdad to the Iraqi foreign
ministry.

m

CAR, WHEN
4 AFFORD
'END!

I

: Talks began in Istanbul last
month between Iraq and Iran to
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