THE MICHIGAN DAILY
Thursday, January 13, 1977
Blumenthal: Inflation to ease Release of Daoud spurs
WASHINGTON (P) - W. Mi- He said he will sever all ac--men later. But he did say his
chael Blumenthal, President- tive relationship- with the Ben-! annual income from Bendix was
elect Carter's choice for secre- dix Corp., of which he has been between $400,000 and $500,000 an-'
tary of the treasury, predicted chief executive officer, and will nually. That compares with the
yesterday that infla' ion will con- dispose of his extensive finan- $63 000 he will be earning as!
tinue to decline for the next year cial holdings in such a way as to treasury secretary.
or two. avoid conflict of interest. I He said he will receive a lump
But Blumenthal, an Ann Ar- Committee Chairman Russell sum payment from Bendix prior
bor resident, also said Carter's Long, (D-La.), said he favors to taking office on Jan. 20 to
$30 billion economic program the nomination and that the satisfy a special agreement he
probably would push the 1977 committee probably will vote to has with the company. The
budget deficit to between $70-75 confirm it. Only a representa- agreement provides for annual
billion, which would eclipse the tive of the U.S. Labor Party payments when he leaves the
spoe gaistBluenhalatth company, and the lump sum
record high deficit of $66 billion spoke against Blumenthal at the yment will cover the four
in 1976. hearing. years of Carter's term in office.
THE 51-year-old native of MEMBERS OF the comm Ite Blumenthal declined to con-
comtefirm ta the annual payments
Germany testified for 2 hours did not ask Blumenthal about ur rthehagreeme tae f
unde e agremn r o
on his nomination before the his net worth and Blumenthal $23 000 a year, as has been re-
Senate Finance Committee. declined to reveal it to news- ported.
HE TOLD the committee he
will maintain some holdings of
Bendix stock after taking office,
because of a time delay required
by law between the time a per-
son exercises stock options and
they are sold.
He said income from thesec
shares when they are sold will;
be transferred into a blind trustf
no later than Oct. 31, 1977. He!
said he has reported details of
his financial holdings to Carter
and expects the President-electt
to make them public, probablyt
He also said he has given de-C
tails of his finances' to the Sen-
ate committee staff.1
(Continued from Page 1) of eggs and fruit flew at an un-- working "iri the interests of giving lessons to others. Conse-
"Let him go back to France: identified person on the embassy Zionism." quently it doesn't receive any.
where he belongs, among the balcony. Police detained one The Israeli press and others It is content to respect its com-
cowards and traitors," said egg-thrower. have accused France of capitu- mi ments and its laws.'
Anka Spitzer, widow of slain Ambassador Herly was not in lating to Arab pressure because PONIATOWSKI reiterated the
fencer Andre Spitzer. the building, an embassy spokes- it depends hheavily on imported official French explanation for
THE families were to meet to- man said. Arab oil arkd because it feared Daoud's release - that a key
day with Foreign Minister Yigal possible terrorist reprisal\ reason he was freed was that
Allon. "We will continue to in-- DAOUD SAID a a news con WEST GERMANY and the the West Germans had not con-
sist that the ambassador be ference in Algiers yesterday that United States have also voiced firmed their request for extradi-
thrown out," said Ilana Romano, the Palestinian movement would their official disapproval of tion through diplomatic chan-
whose weightlifter husband, Yo- continue to improve" relation, Daoud's release. nels in the time period required
sef died in Munich. with France "to the maximum. The Soviet government news- by the 1951 French-German ex-
Chanting behind police barri- He again blamed his ar:rest paper Izevstia applauded the tradition treaty.
cades one group of 80 American; last Friday on "purely political French action, saying yesterday Some French newspapers
studen's bellowed obscene anti- considerations," saying ele- that the negative reaction is joined in the denunciation of the
French slogans. Then a barrage ments' of the French police were "primarily aimed at spoiling the court decision.
- --- good relations which now exist Le Figaro, normally friendly
between France and the- Arab to the government, noted that
states." France had just signed a Euro-
In a Paris radio interview, nean convention against terror-
FROM AN APPLIANCE STORE . Michel Poniatowski, the Frenh ism and commented:' "When
interior minister, said of the acts so cruelly belie words, we
bitter reaction to the French de- are no longer in the political
« cision: "France refrains from realm. It's a puppet show..'
YOU NEVER EXPECTED
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price news grim
(Continued from Page 1) 'work dropped by 210,000 to about
ertheless showed a continued 7,6 million and the number with
failure to move Michigan away jobs rose to a record 88.4 mil-
from its precarious dependence lion, the department said.
on the auto industry. BUT PRICES at the wholesale
THE "PAUSE" in the national level increased by 0.9 per cent
economic recovery during the, during December.
summer-fall months had raised Economists *ere quick to
fears of another recession. and point out, however, that food
prompted President-elect Jim- prices are often volatile on a
my Carter to propose a two- month-to-month basis and subse-
year, $30 billion program of tax quent declines in the cost of
cuts and job-creating programs. o her food items could offset the
However, the improvements in- impact of the December in-
unemployment, retail sales, in- creases.-
dustrial production and personal While food prices rose steeply,
incomedhave only been moder- the worrisome increases in the
ate and most analysts believe cost' of _industrial products re-
economic stimulus is needed to corded in the latter months of
boost the economy in 1977. last year slowed sharply, This
The number of people without may help calm fears that there
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cold be a major upsurge in the
cost of manufactured goods
during th3 early months of 1977.
J3UT ECONOMISTS said the
latest statistics from the Labor
Department did litle to prove or
disprove the need for more
economic stimulus than Carter
pro-losed at the, end of last week.
Without any special govern-
ment action, economic forecast-
ers predict unemployment will
remain above seven per cent
throughout the year. Carter be-
lie-es his program will reduce
the .obless rate close to 6.5 per
cent by year end but labor and
some economists say even
stronger measures may be need-
At 7.9 ter cent. the December
1-emnlovment rate was back at
the same level as in October
and still higher than at the be-
aining of 1976. Last Jan'ary,
jollessness stood at 7.8 per cent.
Unemlovment had declined
from a recession peak of 8.9 per
cent in May 1975 to 7.3 per cent
last May, but then started ris-
int and stuck on a plateau be-
tween 7.8 and 7.9 per cent
through the summer and fall. It
rose to 8.1 per cent in Novem-
Jobless rate dips;
TONIGHT! Thursday, Jan. 13-
7 &&9:30 p.m.
JON FINCH, MARTIN SHAW, FRANCESCA ANNIS
Polanski's adaptation of the Shakespearian classic dealing with
murder, guilt and revenge has been criticized for being too
much Polanski and too little Shakespeare. But the film is
undeniably a striking example of what the camera can do for
Shakespeare when realism and classicism are combined intel-
ligently. "Handsome, well-acted; 'intelligent production."-NEW
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WARREN BEATTY and JULIE CHRISTIE in
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Warren Beatty stars in this sex farce as George, the very
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