Page 6--Friday, February 20, 1981-The Michigan Daily
Protesters oppose
investment proposals
Daily Photo by DAVID HAR
UNDERGRADUATE 'D' GHOSH (right) and Paul Bowyer, University Coordinator of Housing Maintenance, were
among many to attend yesterday's Regents meeting. The agenda included discussion of investment in defense in-
dustries and recreational sports budget cuts.
First-class,
mailwill
soon cost,
18 cents
WASHINGTON (AP) - The Postal
Rate Commission approved yesterday
a 3-cent increase for first-class mail
and added another two cents to the
price of a dime postcard. The increases
could take effect as early as next mon-
th.
The new 18-cent stamp still will be
two cents short of what the Postal Ser-
vice requested, and may lead the mail
agency to ask for another increase next
year.
Commission Chairman Lee Frit-
schler said the rate decision was "anti-
inflationary." A dissenting commission
member said the new rates will be
inadequate to cover Postal Service ex-
penses and agreed another increase is
likely before long.
The decision will give the Postal Ser-
vice about $1 billion less per yearthan
the $3.75 billion it saidit needs.
Moreover, President Reaganis
proposing cuts in the postal subsidy.
Postmaster General William F.
Bolger said last week the agency may
need to ask for higher rates again later
this year if the rate commission did not
approve the full request.
(Continued from Page 1)
said he would only give the Regents a
financial viewpoint on the proposal.
Brinkerhoff, whose office is in charge of
the investment report, said the NBD
recommendations "were forwarded to
the Regents unchanged."
Under guidelines set up in March,
1978, when demonstrators protested
against University investments in
companies with holdings in South
Africa, the Regents may choose today
to set up a committee to study the
defense investments debate.
The "South Africa Resolution" says
the Regents may appoint a committee
of faculty representatives, students,
administrators and alumni to gather in-
formation about any issue that "in-
volves serious moral or ethical (in-
vestment) questions which are of con-
cern to many members of the univer-
sity community."
PROTESTORS AGAINST adding
; defense industries to the University's
list of possible stocks were not the only
members of the University community
to be heard by the Board yesterday.
Students, faculty, and staff members
concerned about proposed cuts in the
Department of Recreational Sports'
budget asked the Regents to try and
save the department.
Tom Hogsten, the MSA represen-
tative to the Advisory Committee on
Recreational Sports, said he would like
increases in student or user fees to ac-
company inevitable budget cuts to
lessen the impact of the reductions.
Rec Sports is "a very integral part of
the fraternity system," said Bill Hogan,
president of the Fraternity Coor-
dinating Council. Hogan told the Board
that "some houses could be notable af-
fected by a change (in the intramural
program)."
LISA DROUILLARD, representative
from the Residence Hall Council, said
that the intramural program, which
may be cut by as much as 50 percent,
plays an important role in a freshper-
son's ability to adjust to the University.
Drouillard also said Rec Sports
provides a "way to release pressure.
You're going to have a lot of intoxicated
freshmen" if the Rec Sports budget is
reduced, she said.
The proposal to decrease the Rec
Sports budget is still a long way away
from Regental approval, as it is curren-
tly being studied by a subcommittee of
the Budget Priorities Committee.
SEVERAL MEMBERS of University
student government organizations took
this opportunity for public discussion to
voice their concern over. the lack of
student participation in budget cut
decisions.
Citing an earlier Regental recom-
mendation for student participation in
such decisions, MSA representative
Jim Cull said, "Your recommendations
have fallen on deaf ears in the ad-
ministration."
LSA-SG President Sue Porter said the
"academic units should be the last con-
sidered" for budget cuts and asked the@
Regents to "guarantee" students a
position in the future.
STUDENTS WERE NOT allowed on
the geography department review
committee because the University con-
sidered it to be only a "peer review,"
said Porter.
Three graduate students spoke on
behalf of the Graduate Employees
Organization, protesting the budget
cuts procedure. GEO member Paul
Harris said the proposed cuts would af-
fect those with less job security, such as
junior faculty members and graduate
student assistants.
"GEO urges the Regents to take im-
mediate action to assure that the ad-
ministration's power does not result in
undue hardships for the powerless,"
said Harris. "You can decide, or you
can force us to resort to other forms of
pressure and obstruction."
GRADUATE ASSISTANT Barbara
Joos said GEO supports "shared
austerity" - the idea that all units
within the University share budget cuts
instead of completely cutting out single
units.
The budget cuts, Joos said, will affect
the quality of teaching at the Univer-
sity, since the faculty will be "overex-
tended and less effective" due to larger
class size.
The recommendation that the
University include defense industries
on its master list of common stocks -
the list from which the University may
purchase stocks - was only one part of
the full Report on Investments presen-
ted yesterday.
NBD TRUST Investment Research
also proposed that the University add
hospital management industry, natural
gas industry, and railroad industry
stocks to its list. Not every stock on the
master list will be added to the Univer-
sity portfolio. The list only provides the
potential corporations.
The investment report, which presen-
ts a very encouraging View for invest-
ments in the stock market, also
recommends the Regents initiate , a
security lending program and authorize
the purchase of Canadian commerical
paper and Eurodollar certificates of-
deposit.
In other business, the Regents heard
reports from the chairpersons of the0
LSA and Nursing School Dean Search
Committees.
Math Prof. Donald Lewis said that his
committee is currently interviewing 12
candidates and will present the final
panel to Vice President for Academic
Affairs Bill Frye sometime in early
March.
Nursing Prousan Steckel said her
committee's s ch is also nearing its
conclusion. She said she hopes to have
her final list on Frye's desk by March 6
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