Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Download this Issue


Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

This collection, digitized in collaboration with the Michigan Daily and the Board for Student Publications, contains materials that are protected by copyright law. Access to these materials is provided for non-profit educational and research purposes. If you use an item from this collection, it is your responsibility to consider the work's copyright status and obtain any required permission.

November 22, 1980 - Image 3

Resource type:
The Michigan Daily, 1980-11-22

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

U' keeps bond, but wants

The Michigan Daily-Saturday, November 22, 1980-Page 3
State slashing
welfare aid to
college students

better S. African

The University Regents decided yesterday to keep,
at least temporarily, $200,000 worth of Owens-
Corning Fiberglas, -even though the company has
been rated by a national research service to have
"only minimal" commitment to improving labor
Ponditions in South Africa.
The board had taken up the issue after Vice-
President and Chief Financial Officer James
Brinkerhoff had recommended that the University
sell its share of Owens-Corning bonds. A South
African subsidiary of Owens-Corning, Brinkerhoff
said in his report in the Regents' agenda, did not
ascribe to minimum guidelines for fair treatment of
black employees. University policy is to divest from
firms that do not meet these standards.
After reviewing the report from the Investor

Responsibility Research Center, however, the
Regents agreed that the University should instead try
to persuade Owens-Corning to meet the standards.
REGENT ROBERT Nederlander (D-Birmingham)
said he thought Brinkerhoff should travel to the
Owens-Corning headquarters in Toledo to discuss the
company's role in the running of its South African
subsidiary, and to see if the University can convince
the company to use its power to make more positive
changes in the South African firm.
"These (divestment actions) are symbolic types of
undertakings," Regent Deane Baker (R-Ann Arbor)
said. "If we are in fact trying to effect changes in
South Africa, that (traveling to a corporation to talk
about the problem) is the sort of effort that need1s to
be made."
Regent David Laro (R-Flint) expressed concern
over the financial loss that would result from selling

polic y
the bond. "If the market returns to a more "real"
rate (as compared with the currently high interest
rates) we will realize a loss of $50 to $60 thousand,"
he said.
At Thursday's meeting of the board, a large num-
ber of supporters turned out to hear, among others,
two speakers address the issue of divestment during
the public comments section of the meeting.
WILLIAM SHARP, an employee of Canterbury
Loft, told the Regents that by divesting their stocks
from companies that have interests in South Africa,
Canterbury Loft would realize a considerable finan-
cial gain. He added that while "divestment does not
necessarily mean loss, investment in (companies
with South African interests) is a loss of ideals, a loss
of truth, a loss of dignity and respect for human
beings. "

State senate approves
S. A frican divestment bill

Tightened eligibility requirements
are leading to the elimination of
state Department of Social Services
welfare aid to college students.
Roger Doster, associate director
of the University Office of Financial
Aid, said that because of the small
number of University students
receiving aid from the state welfare
agency, the cuts in the program.
would primarily affect students
enrolled in area community
AID TO Dependent Children
benefits going to the guardians of
college students between the ages of
18 and 21 were cut last September,
according to, Cheryl McCleary, a
representative from the Ann Arbor
office of the state social services
department. She said the move was
part of an effort by social services
administrators to trim their welfare
expenditures across the board
throughout the state.
The ADC checks, which were
distributed to families with college-
aged children to cover their food,
clothing, shelter, and general living
expenses, amounted to ap-
proximately $73 per month per per-
McCleary also said new stringent
eligibility requirements have
eliminated most students from the
federal food stamp program, which
is administered by the state.

IN THE PAST, she explained,
students needed only to meet stan-
dard requirements to qualify for the
program. Now they must meet one
of the following five criteria, in ad-
dition to the standard requirements,
in order to qualify: physically or
mentally handicapped; par-
ticipating in a federally-financed
Work/Study program; enrolled in an
institution of higher learning as a
result of participation in WIN (a
work incentive program related to
AID), or; working 20 or more hours
per week.
The fifth criterion, involving the
status of college students with
dependents, is currently being
clarified by department officials in
Lansing, McCleary said.
McCleary also pointed out that a
program which provided limited
one-time-only general welfare
assistance to college students
finishing out a term has also been
"Social services and students
have always had adversary
positions," said Thom Johnson, a
senior aid officer in the University
Office of Financial Aid. "We (finan-
cial aid) are caught in the middle."
"There used to be a time when we
had extra funds," according to
associate financial aid director
Doster. Now, he said, the office can
only offer students in dire financial
circumstances Guaranteed Student

The state Senate yesterday approved
by a 22-to-7 vote margin a bill barring
the deposit of surplus state funds in
financial institutions that extend loans
to the government of South Africa, to
national corporations of that gover-
nment, or to any South African
operations of an American corporation.
The state House version of the bill,
which was co-sponsored by Rep. Perry
03ullard (D-Ann Arbor), was passed
earlier this year. The measure will now
be -sent to the desk of Gov. William
Milliken for his signature.
the government of South Africa
maintains a legalized system of racism,
or apartheid.
According to Barb Eldersfeld, a
legislative aide in Bullard's office, the
divestment bill passed by the Senate "is
Oalmost in the same form as the bill that
was ratified in the House." She added,
however, that there probably are some
mipor, differences in the bill that she
would not know about until Monday.
BUT STATE Sen. William Sederberg

(R-E. Lansing), said it was his im-
pression that the Senate passed the bill
"exactly" as it was approved by the
Two related measures, which would
require state public universities and
pension systems to sell all holdings in
companies that do business in South
Africa, are still awaiting action in the
However, the Regents of Eastern
Michigan University second-guessed
the state legislature Wednesday by ap-
proving a policy prohibiting the univer-
sity from investing in banks and
savings and loan institutions that ex-
tend loans to the South African gover-
THE POLICY also called for "no in-
vestments in commercial paper issued
by companies doing business in South
EMU Vice President for Business and
Finance Robert Romkema said the
divestment issue at that university has
not caused any friction between studen-
ts and administrators.

The events leading to the policy
change began one year ago when "we
wrote an endorsement fund policy
which included some divestment issues
in South Africa," Romkema said.
Marcel Hurt, president of the EMU
student government, said the policy
adopted by the Regents last year con-
tained several loopholes. "It stated that
(the university) would not directly in-
vest money in South Africa, but didn't
say anything about dealing with cor-
porations that deal in South Africa," he
Hurt said that by going through the
regular channels at the university,
students persuaded the EMU Executive
Council to present the revised amen-
dment policy to the Regents.
Hurt added that EMU students are
satisfied with the outcome of Wed-
nesday's meeting. "The university
went a little beyond what we expected
of them," he said. "We didn't have any
knowledge of the commercial paper, so
the executive board put that stipulation
there for any loopholes that may be


... sponsored House version


.Sar.ings Ibond(s interest
ra tes lp
Interest rates have been 'increased
for U.S. Savings Bonds.
On Series EE bonds purchased after
Nov. 7 the interest rate is now 8 percent
if the bonds are held to maturity. The
term to maturity is shortened farm11 to
nine years.
On Series HH bonds the interest in-
creases from 62 to 712 percent with
maturity remaining at 10 years.

140 South Univers ity

bill needs his signature

Regents OK HMO study

The plans for the formation of a Health Maintenance
Organization at the University came under some fire at
the Board of Regents' monthly meeting yesterday.
The Regents finally voted to allocate funds for the plan-
ning of an HMO, and to have a special report on the matter
presented to them at their December meeting.
An HMO is a pre-paid health care plan which em-
phasizes group practice and preventative medicine. The
University's HMO would serve both the faculty and the
}community of Washtenaw and western Wayne counties.
.REGENT DEANE BAKER (R-Ann Arbor) said, "We
have been getting a one-sided view on HMO." He added
that it would be a good'idea to hear an objective report on
the subject from someone not sympathetic to the idea of a
University HMO.
"We need to proceed and take a final look at it (HMO)
before we make a final decision," Regent Gerald Dunn
(D-Lansing) said, noting that the rising costs of

traditional health care make this study a worthwhile in-
A motion to table the issue until experts could be
brought in to brief the Regents on the pros and cons of
HMO failed in a four-to-four tie. The Regents then voted
seven-to-one to let the planning of the HMO proceed with
the understanding that experts would nonetheless be
brought in to discuss it.
THE REGENTS also voted to name the Administration
Building after former University President Robben
Fleming and his wife Aldyth (Sally) Fleming. The naming
ceremony will probably take place during commen-
cement period in May, when Fleming, who now works as
President of the Corporation for Public Broadcasting, is
expected to return to campus.
A motion to have the University play an active role in
studying tax problems and proposals in Michigan was
tabled by the Regents pending further study of the im-
plications of the suggestion.

Ann Arbor Film Co-op-Aguirre, the Wrath of God, 7, 10:20 p.m, Even
Dwarfs Started Small, 8:40 p.m., MLB Aud. 3.
Cinema Guild-Amarcord, 7,9:30 p.m., Lorch Hall Aud.
Cinema II-Theresa the Thief, 7,9 p.m., Angell Hall Aud. A.
,7, 9 p.m., Angell Hall Aud. A.
Gargoyle Films-Pink Flamingoes, 7, 9 p.m., 100 Hutchins Hall, Law
WUOM-James Ogilvy, "Multi-Dimensional Man," 10:15 a.m.
Office of Major Events-Boz Scaggs, 8p.m., Hill Aud.
Department of Theatre-"The Eccentricities of a Nightingale," 8 p.m.,
Trueblood Theatre, FriezeBldg.
Residential College-"Signarelle of the Imaginary Cuckold," "The
Proposal," 8 p.m., Residential College Aud., East Quad.
School of Music Opera Theater-"The Consul," 8 p.m., Mendelssohn
School of Music-"Walkabout" (dance concert), 8p.m., Dance Bldg., 1310
N. University Court.
Academy for the Study and Performance of Early Music-St. Cecilia Day
Concert, 8 p.m., St. Andrew's Church, 306 N. Division.
Womanspace-Ann Doyle, 8:30 p.m., Canterbury House (corner of N.
Division and Catherine).
Ark-Stan Rogers, 9 p.m., 1421 Hill.

Continued from Page 1)
percent, that was the end."
Baker also said there is no support for
the "Republican point of view" among
PIRGIM members. "It's a supportive
organization for one point of view, and
I'm offended by that," he said.
Petoskey) and Regent Sarah Power (D-
Ann Arbor) expressed strong support
for PIRGIM, and made a motion to
lower the minimum support level and
extend the contract through the Winter
The board finally voted to extend the
contract as written. The Regents do not
have to act on the matter again until
PIRGIM tries to renegotiate its con-
The student member of the PIRGIM
board, Beverly. Johnson, said, "I'm
very satisfied with (the Board's
decision). It's exactly what we wan-
JOHNSON ADDED that she thought
student support has actually increased
over the past few years. "There are

Texas Instruments Sale!
WatOch Y oUr N Umbers
" 15 Levels parenthesis-
4 pending operations
* Standard deviation with "n"
*Trig, logs, factorial et.
List Price: $40.00
Sale Price$20
Sale ends Nov. 30
Unique Cellar Warranty Support
For all TI calculators, we offer a 90 day over-the-counter
exchange period on defectives for a new unit, same mod-
el. For one year from purchase you are protected against
defects by our warranty support: FREE OF CHARGE we
handle shipping of defective models and loan you a calcu-
lator until yours returns repaired.

Back to Top

© 2020 Regents of the University of Michigan