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October 13, 1982 - Image 3

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Publication:
The Michigan Daily, 1982-10-13

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The Michigan Daily-Wednesday, October 13, 1982-Page 3

PLO insists
on return to
'67 borders

Banks
slash
lending
rates

From AP and UPI
AMMAN, Jordan - The PLO would
welcome President Reagan's
Palestinian plan if he can "pressure the
sraelis into relinquishing Arab
territory" occupied since the 1967 war,
a Palestine Liberation Organization of-
ficial said yesterday.
"If Reagan is able to pressure the
Israelis into implementing his plan and
get them to withdraw from occupied
'Arab territory, then we are not against
this plan," said Brig. Abdul-Razzak
Yahia, head of the PLO office in Am-
man.
MEANWHILE,.. Israeli and Syrian
roops battled in eastern Lebanon
yesterday and U.S. special envoy
Morris Draper flew to Washington,
reportedly with a timetable for the op-
posing armies to withdraw.
A Syrian military spokesman in
Damascus claimed the Israelis opened
tank and artillery fire against Syrian
troops in the eastern Bekaa Valley.
The spokesman said Syrian troops
returned fire and "silenced the enemy
uns" after two rounds of tank and ar-
illery exchanges..
THIE ISRAELI military command in
Tel Aviv claimed Syrians and
Palestinian guerrillas operating behind
Syrian lines fired rocket-propelled
grenades at Israeli forces in eastern
Lebanon, four miles west of the Syrian
border.

The Tel Aviv statement said the
Israelis returned fire. No casualties
were reported.
The new clashes, the most serious
since Israeli warplanes and artillery
struck deep into the Bekaa July 22,
came as a spokesman for PLO leader
Yasser Arafat said there was a "great
possibility" of a federation between
Jordan and the Palestine Liberation
Organization, Amman radio reported.
ARAFAT has been meeting in Am-
man with Jordan's King Hussein to
discuss the king's proposal for a Jor-
danian-Palestinian federation and
President Reagan's Middle East peace
proposal, calling for Palestinian self-
rule on the West Bank in association
with Jordan.
Israel invaded Lebanon on June 6 to
smash the Palestine Liberation
Organization and forced the evacuation
of thousands of guerrillas from west
Beirut in August. However, thousands
of guerrillas remain in northern Tripoli
and behind Syrian lines in eastern
Lebanon.
Israel says it will withdraw in a
phased pullout with the Syrian troops
who hiWe been in Lebanon for six years,
ostensibly to police the armistice that
ended the 1975-1976 Moslem-Christian
civil war.
Syria, which has an estimated 30,000
troops in Lebanon, is insisting on an
Israeli withdrawal before negotiating
the pullout of its troops.

t1YYa APPhto
Speech Aimet
President Reagan's plan to deliver a television speech on the economy has sparked controversy among Democrats.
Democrats claim the speech is a political ploy, while Reagan says, "Doesn't everyone want the economy to be better?"
Reagan's speech is scheduled for 7:30 p.m. tonight. The Democrats will respond on CBS at 11:30 p.m. tonight and 7:30
p.m. tomorrow on NBC. With congressional elections coming in November, the parties are watching each other warily.
Homecoming parade lacks funds

By JACKIE YOUNG
Members of the University Activities Center (UAC) say
they have their work cut out for them this week, and the fate
of the homecoming parade rests on the outcome.
The Ann Arbor City Council Monday night turned down a
UAC request for $1,045 in police security during the parade,
scheduled for Oct. 29. The action prompted UAC officials at a
meeting last night to consider alternatives to city financing.
UAC HOMECOMING Committee Chairperson Felice Oper
said that the center is now faced with four options:
* Members can try and reintroduce the proposal at next
Monday's council meeting;
" The center can attempt to pay for the security by doing
community service work;
" They can look for alternative areas of financial support,
such as community fundraisers and donations; and
" UAC could cancel the parade completely.
"Homecorming committee members will be working double

time this week trying to resolve this funding problem," Oper
said.
IF REINTRODUCED to council, the proposal stands a
good chance of being passed, said Edward Hood (.R-Fourth
Ward). If UAC works out some "trade-off" and members
give their time working for the city, Hood said he was
"reasonably sure" the proposal would pass.
Raphael Ezekiel (D-Third Ward) said he voted against the
proposal Monday night because "the city's budget is limited
and this is not a public function. Ann Arbor did perfectly well
for many years without a parade."
Ezekiel, however, said he believes there could be city sup-
port if the UAC committee can work out a compromise
proposal with the city.
The first homecoming activities are scheduled to begin
Thursday, Oct. 28. Events will include a pizza-eating contest,
a pep-rally, the Mud Bowl, and the ever-popular Car Bash on
the Diag. Sponsors include UAC, Miller Brewing, WIQB, and
Domino's Pizza.

-HAPPENINGS-
Highlight
Seasoned world-class artists and top-rated high school singers will join the
musical forces with the students of the University of Michigan in concert
tonight. The, concert program features Leslie Guinn, Lorna Haywood, three
high school ensembles, Andover High School, Ypsilanti High School, and
Southfield Lathrup, the University Symphony Orchestra, University Choir,
and the Men's Glee Club. The concert begins at 8 p.m. in Hill Auditorium.
Films
ECB-Write Write,8 p.m., Rackham Amphitheatre.
AAFC-Pandora's Box, MLB 3, 7:30 p.m.
CG-Hamlet, Lorch Hall, 6:30 and 9:15 p.m.
Performances
Ark-Open Mike Night, 9 p.m., 1421 Hill St.
UAC-Bill Thomas, Laugh Track, 9:30, 'U' Club.
School of Music-The Korean Traditiotal Music Ensemble, 8 p.m.,
Rackham auditorium.
University Musical Society-The Bulgaria National Folk Ensemble, 8
p.m. Power Center.
Speakers
Department of Statistics-Prof. Robert Wijsman, "Test-Oriented and
Estimation-Oriented Sequential Confidence Intervals for H/0," 4 p.m., 1447
Mason,
CE-Panel discussion, "Explore the World: International Career Alter-
natives," 1:30-4:30 p.m., East Conference Room, Rackham.
ECI-Francelia Clark, "Taking An Essay Exam," 4 p.m., 2203 Angell.
Interger Programming-Kipp Martin, Industrial & Operations
Engineering Seminar, 4 p.m., 218 West Engineering.
The Amdahl 470/V8 Computing System and MTS-Brice Carnahan, In-
troductory Computing Lecture Series, 7-9 p.m. Kraus Auditorium, Nat. Sci.
Seminar in Oral Biology-D.D. Dziewiatkowski, "Proteoglycan in
Retrospect," 4-5 p.m., Kellogg Bldg.
Center for Russian and East European Studies-Prof. Teresa Rakowska
Harmstone, "The Role of-the Warsaw Treaty Organization Forces in Soviet
Military Strategy," noon, Commons Room of Lane Hall.
Canterbury Loft-Arthur Medel, "On Nature of Fascism Today," 4 p.m.,
Aud. A, Angell.
Transcendental Meditation Program-Public Lectures, 1 p.m. 4313 Union,
8:15 p.m., 528W. Liberty.
Biological Sciences-Hugh Paterson, "The Recognition Concept of
Species," MLB 1, 4 p.m.
Chemistry-Yvonne Fraticelli, "Development & Application of
Automated Ammonia Gass Sensing Systems Based on Polymer Membrance
- - Electrodes,"4 p.m., 1200 Chem. Bldg.
Chemistry-Bernard Hulin, "Carbon-Carbon Bond Formation Via the Ene
Reaction," 4 p.m., 1300 Chem. Bldg.
ELI-Robert Bley-Vroman, "The English Spelling System: The Role of
Abstract Graphemics," 4-6 p.m., 2050 Frieze.
Communication Department-Michael Traugott, "Resource Allocations
in Congressional Campaigns," noon, 2050 Frieze.
Museum of Art-Barbara Hamel, "Theme & Variations," 12:10-12:30
p.m., Stella exhibition.
Computing Center-Bob Brill, "Intro to Taxin (I)," 3:30-5 p.m., 171 BSAD.
Mark Hersey, "Intro to Use of Microcomputers with MRS," 7-8:30 p.m., 146
BSAD. Registration required. Call 764-9596.
School of Education-James Anderson, "Adult Education, Ethnicity, and
the Urban Scene," 4 p.m., 1211 SE.
Misc
Bicycle Club Meeting-8 .m., 1084 East Engin. Bldg.
CEW-"Beyond Career Decision Making," every Wednesday for 5 weeks,
7:30-10:00 p.m. Contact CEW 764-6555.
Rackham Student Government Elections-11:00 a.m.-3 p.m., Fishbowl.
School of Metaphysics-New class forming in Applied Metaphysics, to
register, call 996-1363.
WCBN--"Radio Free Lawyer," discussion of legal issues, 88.3 FM, 6 p.m.
Tai Kwon Do Club-Martial Arts Practice, Sports Coliseum, 6-8 p.m. for
more info call 996-5827.
Academic Alcoholics-Meeting, Alano Club, 1:30 p.m.
Science Fiction Club-1:30 "Stilyagi Air Corp." Ground Floor Conf. room,
Union, 8:15 p.m.
School of Music-Tour of Carillon, top of Burton Tower, 4-5 p.m.
Michigan Journal of Political Science-Distributing Journals, Diag, 11
a.m.-4 p.m.
Alternative Action-The Last Epidemic & The Bomb, 8:30 p.m., East

From AP and UPI
NEW YORK - Four major banks:
slashed their prime lending rates a full;
point to 12 percent yesterday, the,
lowest level in 25 months and a reflec-,
tion of sharp declines in interest rates
that have sent stock and bond prices
soaring.
The Dow Jones industrial average.
closed above the magical 1,000 barrier,
despite losing ground as the Great
Stampede of 1982 unleashed
a. monumental trading jam.
CONSUMER loan rates are starting
to fall. But declines in those rates will.
not be as quick or as deep as the recent;
cuts in the prime rate, economists and
bankers say.
The drop in commercial rates has:
spurred a strong rally in the stock
market. Lower rates should improve
the profits of businesses, and there are
hopes the declines in interest will en-
courage more consumer buying and
help the economy rebound.
Morgan Guaranty Trust Co. in New
York, the nation's fifth largest com-
mercial bank, initiated the cut in the
prime rate of 12 percent from 13 per
cent. It later was matched by Bank of
America, the nation's largest bank,
Manufacturers Hanover Trust, No. 4
and Chemical Bank, No.6. Other banks
held at the 13 percent level adopted by
the industry Thursday.
THE PRIME rate last stood at 12
percent on Sept. 12, 1980, a period when
it had started to rise and was climbing
to a record 21.5 percent in December
1980.
President Reagan, referring to the
Morgan Guaranty decision, said at the
end of a bill-signing ceremony in
Washington that he was 'mighty
pleased to see another burst of sunshine
this morning."
"That's one more confirmation we're
on course," he said to a group gathered
in the White House Rose Garden.
"IT'S CLEAR that Morgan wouldn't
have made a cut that large unless it an-
ticipates that rates are going to con-
tinue to come down," said William C.
Dunkelberg of Purdue University, who
is the economist for the National
Federation of Independent Business.
The prime rate is the base banks use
to calculate interest charges on short-
term loans to companies with top-grade
credit, although some banks make
loans at rates slightly above or below
their stated prime depending on the
customer.
The prime, which stood at 16 percent
in late July, does not have a direct ef-
fect on consumer loans but indicates
where market rates in general are
headed - and those rates are falling
fast.
"IT'S A SAFE bet that consumer loan
installment rates are going to continue
to come down," said Bernard Schoen-
feld, economist with Irving Trust Co., a
PIew York bank.

Farmer's Market to begin renovations

By ANDY MEAD
The Ann Arbor Farmers' Market will
begin construction of a new office
building and restrooms early this fall,
according to members of the city's
Farmers' Market Commission.
In addition, eight new stalls will be
constructed where the old building sits,
after thatLbilding is razed.'
THE OLD office building and
restrooms have badly deteriorated and
are a health hazard, says the Market
Commission.
The new restrooms will be separated
from the one-story new office/lounge
structure by a roofed passageway, and
the sidewalk will be extended to Fourth
St.
"We see several advantages to the
plan," says commission member Gerry
Rees. "It will increase selling space,

provide barrier-free access and han-
dicapped-accessible restrooms, and
enhance our approach from Fourth.
We also hope to ease congestion on
Detroit Street."
Further plans to make Detroit Street
one-way between Fifth and Catherine
Streets and to create slanted side-by-
side parking in front of the market are
in "the conceptual stage," according to
Jerry Clark of the City Planiiing Com-
mission. The decision is now in the
hands of the Downtown Development
Authority.
The new building is estimated to cost
up to $75,000, and another $20,000 will be
spent to plug leaks in the corrugated-
iron roof above the stalls.
THE MARKET Commission, which is
made up of citizens appointed by the
mayor, had originally planned more ex-
tensive improvements, to be partially

financed by the city, but a ballot
proposal for the funds was defeated last
April.
Funds for the scaled-down plan will
come from fees the market has collec-
ted from farmers "very slowly" over
the years, Rees said.
"We were hoping the city would see
what a great asset the market is," says
Rees. "It belongs to the city, and it's
one of the outstanding market
operations in the state. We're unique in
that we insist that the products be sold
by the person who produced them,
which encourages personalcontact
between producer and consumer. We
are not a money-making operation."
The market stalls were built on their
present site in 1936, according to
Market Commission member Patricia
Kemp. Before 1936 growers set up
tables on the lawn of the old City Hall.

Cosovich to fill chief fundraiser post

(Continued from Page 1)
Administrators have 'found in
Cosovich a colleague with similar ideas
for addressing the University's finan-
cial difficulties.
COSOVICH SAID in a itelephone in-
terview from Stanford yesterday that
he believes the University's five-year
plan to rearrange its budget "makes a

good deal of sense."
"We can't expect our institutions to
be all things to all people," Cosovich
said. "We can't expect to provide every
area of knowledge, every academic
pursuit."
The prospective vice president said
the nation's leading universities best

serve society by focusing their resour-
ces on the fields in which they excel. TONIGHTAeHNCA
AS A WAY to help the University
fight its budget battle, Cosovich said he
sees "potential for growth in almost PRESENTS
every fundraising area," including RAPTURE
alumni and corporate support.5-
Cosovich will assume his job in January.

'U' unveils record budget

(Continued from Page 1)
BESIDES THE 5 percent increase,
the legislature also repaid $19.8 million
to the University that the state had
promised last year but failed to pay.
In addition to the General Fund, the
Regents will vote on three other
University budgets. The largest of
these is the $308,374,250 Auxiliary Ac-
tivities budget, which covers self-
supporting sources such as residence
halls, the Michigan Union, the

Michigan League, and inter-cpllegiate
athletics.
The proposed $135 million Expen-
dable Restricted Fund budget goes
primarily to research. The Regents are
authorized to decide how to spend the
$30.5 million the University raised in
gifts and grants last year. That money
makes up the Designated Fund budget,
which will also be presented to the
Regents tomorrow.

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