The Michigan Daily-Saturday, October 25, 1980-Page 3
AUT O AND HO USING IND US TRIES ON UPS WING
Prof cites economic recovery
Hymans Sinai
. .., predicts record profits ... cautions about inflation
Study says aspirin
may block interferon
By BETH ALLEN
and MARYEM RAFANI
The 1980 recession has ended and
the U.S. economy has moved into a
recovery period, two leading
economists yesterday told ap-
proximately 60 alumni involved in the
banking industry.
University Economics Prof. Saul
Hymans and Allen Sinai, vice president
of Data Resources, Inc., in Lexington,
Mass., and a Business School graduate,
predicted a recovery during the next
six months for most major industries,
such as automobiles and housing.
Corporations, Hymans said, will
again experience "record high profits
byrtheendof 1981."
SINAI CAUTIONED, however, that
the automobile inidustry's'recovery
could be hampered by high inflation,
tighter credit, and higher interest
rates, which he called "the number one
risk" to the state of the economic
recovery.
"We have the interest rates coming
back to haunt those same businesses"
that are experiencing recovery now,
Sinai said.
He added that consumer spending
could slow any improvements in the
auto industry, if American automakers
fail to compete effectively with their
foreign counterparts.
HYMANS SAID the housing market
is one sector which will show some im-
provement. But he warned that the in-
dustry will have a difficult time over-
coming the serious losses it has suf-
fered during the past year. He
speculated it would take approximately
one and one-half years for the industry
to straighten itself out.
One of the tighter areas in the housing
market, said Hymans, will be home
mortgage rates. He said rates in this
area are likely to remain "fairly high"
and could increase.
Hymans, who is also co-director of
the Research Seminar in Quantitative
Economics, hesitated to offer predic-
tions for the Michigan economy, but
said it will lag behind the nation's by
about six months.
HE STRESSED that the state will
receive "less than its traditional share"
of a national recovery because of the
recent rise in foreign competition.
The professor stressed that his
predictions for a return to a healthy
economy hinged upon future actions by
the Federal Reserve Board, and
possible implementation of one of the
federal tax-cutting plans. He noted that
while the Fed's "wild gyrations" last
year did not cause the recession, the
board's credit-tightening activities
helped worsen it.
He predicted that the board will,
probably "keep monetary policy fairly
tight," but any extreme measure could
have a detrimental effect on the
economy's improvement.
HYMANS ALSO stated that personal
and business taxes would be cut by ap-
proximately $35 billion, if one of the tax
cuts proposed by the presidential can-
didates is implemented, but he said the
effects of the cut will not show up until
the second half of 1981.
Sinai, however, called the tax
proposals "inflationary" and said they
will eventually create large deficits in
the budget. "Carter's proposal is more
'budget-busted' than Reagan's," Sinai
said. He explained that the plan could
cause a larger deficit than Reagan's
during the first year of its implemen-
tation, but stressed that by 1985,
Reagan's plan-which provides for a
ten percent cut in personal income
taxes and faster business write-
offs-will cause a greater deficit.
Sinai also reminded his audience that
the rest of the world, especially.
Western Europe, is also in a recession.
While he said this could threaten U.S.
exports, it could also mean other coun-
tries will lower their interest rates,
thereby strengthening the U.S. dollar.
Hymans also did not miss the oppor-
tunity to slam Proposal D-the Tisch
tax-cut plan-on the November 4 ballot.
Welcome to Alpha Epsilon Phi
NEW YORK (AP)-Aspirin and
many prescription arthritis drugs ap-
parently can block the effect of inter-
feron, a finding that poses questions for
research into the potent natural anti-
Viral substance.
Scientists at Duke University and
Wellcome Research Laboratories have
discovered that aspirin and the ar-
thritis drugs reduce the extent to which
interferon protects cells against
viruses, provided the drugs are added
before interferon has a chance to go to
work.
THE SCIENTISTS stressed their
work was done in mouse cells growing
in an artificial medium, and there was
no guarantee the same thing would
hapen to live animals, much less
human beings.
Nevertheless, if confirmed, the effect
of aspiring on interferon might be im-
portant for the current trials of inter-
feron in human cancer patients some
of whom may have taken aspirin
without their doctors' knowledge.
Myrna Baskin
Susan Broser
Beth Ecanow
Teddi Eisen
Leslie Feldman
Hyla Fruman
Betsy Gallop
Sharon Gandal
Pamela Gillery
Gilda Hauser
Sherri Herman
Jill Hittleman
Laurie Koff
Amy Korman
Lauren Lerch
Amy Lipton
Betsy Moss
Andrea Muchin
Susan Roseth
Ann Sachar
Julie Salzman
Lisa Savorick
Lillian Seidman
Robin Sherman
Caroline Sirlin
Lois Solomon
Lori Starman
Judy Weiss
Carol Weissman
Nancy Yawitz
With love,
your AEO Sisters
'di
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New dorm windows
~TER uLhe G
target of c(
(Continued from Page 1)
Maintenance Paul Bowyer.
The windows in Alice Lloyd currently
are being replaced, according to
Bowyer. Stockwell, West Quad, East
Quad, Mosher-Jordan, and Mary
Markley, in that order, are the dorms
which will get the windows next.
The $2.6 million project was financed
by a loan from the Department of
Housing and Urban Development and
should pay for itself in energy savings
in seven years, Bowyer said.
THE WINDOWS are two panes of
one-quarter-inch thermal-pane glass
with a vacuum seal in between to fur-
ther insulate one piece of glass from the
other, Bowyer said.
George SanFacon, the University
Energy Manager, said the windows will
save five to 12 percent of the total
heating bill, depending on the building.
The savings result because the heat
escape through the neiv windows is
reduced, so less steam is needed to heat
each room.
Some residents, though, are not hap-
py with the new windows. The Stock-
well council has set up a committee to
publicize their disdain for what council
Vice-President Amy Falor called
"irreparable damage to the dorm."
THE UNHAPPINESS stems not from
the idea of energy-saving windows, but
from the style of the new window
chosen for the dormitory, Falor said.
"We want a window more in the style of
the building," she said.
The committee, headed by Stockwell
residents Debbie Gorak and Joanne
Jurmu, has circulated a petition con-
demning the project. "We have collec-
ted 292 signatures in two days," Falor
said.
At the Stockwell council meeting
Thursday night, many residents of the
dorm voiced their concern for what
whey called an unfair and poorly-
managed University project.
THE RESIDENTS were not contac-
ted by the Housing Office in regards to
dorm renovation, said Crystal Glass,
)mplaints
President of the House Council. She
said she hopes the Housing Office will
listen to the student organization, but if
not, "they don't know what they are up
against."
The last major confrontation Hill
area dorm residents had with the
housing administration was when
University planners proposed a com-
mon dining complex for several of the
Hill dorms. The students took the issue
to the Regents, who subsequently killed
the administration's plan to the dismay
of housing officials.
Mosher-Jordan has a similar com-
mittee headed by Bill Wolfson and
Michele McDonald. Their concerns
parallel those voiced by Stockwell
residents and the committees are
trying to combine efforts.
"We just don't want the dorm ruined
for us and the students who come after
us,'" McDonald said.
ASSOCIATE Housing Director Norm
Sunstad said it was the consensus of his
office that the character of the building
will actually be enhanced by the ap-
pearance of the new windows, in ad-
dition to their energy efficiency.
Another advantage of the new win-
dows, Bowyer said, is their increased
resistance to breakage. Because the
impact is spread out over a wider area
than the small panes, he said, the odds
are 100-to-1 against breakage.
"Although," he admitted, "a big-league
pitcher would have a chance of
breaking one."~
But if the window does break, the
replacement cost will be at least $100,
five times the current $20 rate.
Stockwell is presently scheduled to
have windows replaced starting Oc-
tober 30. "We hope to have all nine
dorms finished by January 1," Bowyer
said.
Bowyer added that ESCOW, the com-
pany contracted to do the rest of the
dorms, has had supply problems and
delayed the starting date from July, but
he said the target completion date of
January 1 still stands.
MICHIGAN THEATRE
OLD-FASHIONED Entertainment/ Movie Palace/Pricesi
f V IAii.-Il
FRI, OCT 31, HALLOWEEN Vaudeville '81 Shows
At All Three Fun-Packed Shows
HANK MOOREHOUSE, Magician,
GREG YASSICK, Organist
6:30 p.m. Family Show
Illusionist
y
"FIVE THOUSAND FINGERS OF DR. T." (1953)
Dr. Seuss wrote the lyrics for this movie.
9:15, 11:30 p.m. Adult Shows
"THE NIGHT OF THE HUNTER" (1965)
Charles Laughton directing acting greats Robert Mitchum,
Shelley Winters, and Lillian Gish, in exquisite visual menace.
Peter Graves,
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fedtfuria
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SAnn Arbors 3e t
o urritc for 1r/.SC and
Single tickets: $4.00 each**
Series tickets: Any Number of Tickets in Any Combination
for Six Seasonal Vaudeville'81 Shows-$7.75 for two tickets,
$15.50 for five tickets, $33.00 for twelve tickets, for example**
i
Sun, Nov 2, 7:30 p.m., and Mon. Nov 3, 4:15, 6:00, 7:45 p.m.
"KEY LARGO"
Academy Award Winner with Humphrey Bogart and Lauren Bacall
-Substantially reduced prices for Senior Citizens, Students,
Members of SEMCA, Members of MCTF
603 East Liberty, Downtown Ann Arbor
Box Office Open Mon-Sat 2-6 p.m. -
668-8480
611 CHRH * Progressive Blues Band ~
THE BEAR ESSENTIALS, MISS J.
These cub scouts have located all your accessories!
PREPPY koala bear-ing in mind the classic accents:
Slender neck-ties, /" wide, 6 for $4.
Variety of pins, many ceramic or enamel, $4 to $7.
1" wide stretch fabric belt toned in natural, 7.50
Cotton corduroy Bermuda bag in taupe, 10x101/2", $30.
DRESSY panda bear-ing a charmed life with these:
3%" wide adjustable bow-ties, solids or prints, $5.
Gleamy pins in gold or silver tone metal, $4 to $7.
%" stretch metal belts, here golden with heart, $7.
f3!
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HAPPENINGS
FILMS
AAFC-The Wild-Child, 7, 10:20 p.m., MLB 3; Every Man for Himself
and God Against All, 8:30 p.m., MLB 3; Every Which Way But Loose, 7,
9 p.m., MLB 4.
Cinema Guild-The Maltese Falcon, 7,9:05 p.m., Lorch Hall Aud.
Cinema II-King Creole, 7 p.m.; Jailhouse Rock, 9 p.m., Aud. A, Angell.
Mediatrics-What's Up Doc?, 7:30, 9:30 p.m., Nat. Sci. Aud.
PERFORMANCES
School of Music-Piano accompanying recital, John Walter, 8 p.m.,
Recital Hall.
Theater and Drama-"Spring Awakening," 8p.m., Power Center.
Musical Society-San Francisco Symphony, Edo deWaart, Cond., 8:30
p.m., Hill.
Ark-Songs from Australia, Priscilla Herdman, 9 p.m., 1421 Hill.
SPEAKERS
ICLE-Workshop, Joseph Sax, "Environmental Protection Law in
Michigan," 9-11:45 a.m., Hutchins Hall.
MISCELLANEOUS
UAC-Homecoming parade, 8:15 a.m., begins on Catherine St. between
Fourth and N..Main.
Mudbowl Game-Phi Delta Theta vs. Sigma Alpha Epsilon, 10 a.m.,
corner of S. University and Washtenaw.
Hillel-Shabbat services and lunch, 9:30 a.m., 1429 Hill.
Ann Arbor Tax Dissidents and the Southeastern Michigan New Call to
Peacemaking-workshop on conscientious objection to war taxes, 12:30.
'
.. . ... .
Jacobson's
I
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SPORTY brown bear-er of winners:
More pins, bright wood, $4 to $7.
Narrow 1/2" brown leather belt, $6.
Navy nylon satchel with a
zipper top, 12x 15%", $23
And: the three bears. Of
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