Page 2 - The Michigan Daily - Wednesday, April 11, 1984 SHAREHOLDERS ENDORSE NUCLEAR PLANT Midland constructison to continue From AP and UPI JACKSON - Consumers Power Co. shareholders yesterday overwhelmingly rejected a proposal to halt construction on the troubled Midland nuclear power plant, which is 10 years overdue and more than 10 times over the original budget. The vote was 58.7 percent, or 53,926,567 shares against the proposal, to 6.1 percent or 5,563,747 in favor of the proposal, with 5.6 percent, or 5,182,407, abstaining. THE CAPUCHIN Franciscans, a Detroit-based religious order holding 1,000 shares of the utility's common shock, had proposed delaying construction of the $4.43 billion project for a year pending an independent study of the project. The plant, proposed in 1967 at a cost of $350 million, is 85 percent finished and is scheduled for completion by late 1986. Many of the delays were caused by construction problems such as sinking foundations, poor welding and flaws in reinforcing steel. Earlier in the day, Consumers asked the New York Stock Exchange to halt trading on its stock pending the shareholders' vote. The suspension was lifted after the vote and the stock was selling at 9 1/8, up 5/8, in late trading. Under the board-approved plan, the quarterly dividend due May 20 will be 35 cents-per-share, compared with the 63-cent dividend paid Feb. 20. THE ACTION will free up $100 million annually for the Midland project and will show Wall Street concerns that Consumers is being as prudent as possible, said Michaek Koschik, a spokesman for the firm. "We're saying we're willing to have stockholders bite the bullet in order to get the job done," he said. "We got over 5 percent," said Capuchins' priest Rev. Michael Crosby. "This is a victory under the rules of the Securities and Exchange Commission.'' Crosby said under SEC rules, a shareholder proposal gaining more than 5 percent can be placed before shareholders the following year even if managed is opposed. He said the order would bring the proposal back next year "if we keep our stock." CONSUMERS' chairman John Selby said yesterday it will cost $3.95 billion for Midland's Unit 2 to be completed by December 1986. The previous cost estimate on Unit 2 was $2.5 billion, with a completion date slated for mid-1986. The project's Unit One - on which the company has spend about $1.6 billion - was not discussed. In the meeting only Crosby spoke in favor of the proposal, while a handful of shareholders opposed it and blamed state Attorney General Frank Kelley and the press for the problems at Midland. Consumers Power has rejected recent proposals by state officials, citizens groups and major industrial energy-users - including General Motors Corp., Ford Motor Co. and Dow Chemical Co. - that the $4.43 billion plant be abandoned. TI IN BRIEF Compiled from Associated Press and United Press international reports Reagan predicts lower deficit WASHINGTON - The Reagan administration said yesterday the economy's swift expansion should bring in more money to the government and help reduce this year's deficit by $5.9 billion to $177.8 billion. The budget red-ink soared to a record $195.4 billion in 1983. In the new budget projections, the administration did little to change the estimate for the upcoming 1985 fiscal year, marking it down just a bit to $179 billion, from the $180.4 billion forecast in the budget plan president Regan sent to Congress in February. Congress is considering a slew of proposals to trim the deficit for fiscal 1985, which starts Oct. 1. But the revisions by the Office of Management and Budget don't reflect any of those plans. The changes take into account the rapid clip of the economy in the first quarter of this year, which works to bring in more money to the Treasury coffers in higher income and payroll taxes from the bigger wages workers likely will earn. Also, budget officials in higher income and payroll taxes from the bigger wages workers likely will earn. Also, budget officials are predicting a lower unemployment rate, which means the government pays less in jobless benefits. The inflation rate, they said, should be a bit under previous forecasts which helps hold down the amount of money paid Social Security recipients in cost-of-living adjustmen- ts. rI ..__ HOW MUCHIS YOUR Your career in business has aready bgun; did you know it? Why do some students get the most offers and the best jobs? What have they done and when and how did they do it? Written from 15 years inside-experience, this manual tells you why, what, how and (more important) when. Also, tells you how to survive and progress after you get that first job. Order now for only $32.95 from: DANMORE ENTERPRISES, INC. P.O. Box 2698 Boise, Idaho 83701 Name City Address State Zip Student lobbying for tax Mauor exemption di (Continued from Page i) Matland (GEO treasurer) finding out what she should do in Washington." BUT GANTNER defended her trip by pointing out that two voices in Washington are better than one, and she thought she could add her support to other lobbyists'. "I thought I would take the oppor- tunity to plead our case," said Gantner. She says that GEO has ignored the legislative aspect of the tuition waiver problem by concentrating its efforts on getting the University to discontinue the withholding. "It's merely a different angle," Gan- tner said. THOUGH NOT a teaching assistant herself, Gantner decided to go to Washington when she "realized that the TA's would really be in trouble if (the bill) wasn't raws GEO fire passed." Since March 26 was Student Lobby Day, she thought it would be a goodstime to "express the student con- cerns." While in Washington, Gantner said she spoke with members of the House Ways and Means Committee and Senate Finance Committee, who were involved with the bill. She says that in addition to talking with legislators, she learned a great deal about the problem. "I considered it a success because at this University you need to know what kind of information you're getting," she said. According to Gantner, the bill could be ready for the joint House-Senate con- ference by the end of the week, but the measure could possibly run into dif- ficulty on the floor. ENCLOSEDIS $32,95 OCheck or OMoney Ordar DA.MORE ENTERPRISES, INC. P. O. Box 2698 " Boise, Idaho 83701 r The University of Michigan Environmental Law Society A a p I IId 2 uthisai RSte t 0of ixc W III neme | 111 I pll~i1111 Arl 1and 121,Hutchins Hal III JOSTEN'S GOLD RING Fighting ends Beirut truce BEIRUT, Lebanon - New fighting broke out in Beirut yesterday, less than 15 hours after military leaders signed a disengagement accord. Rockets and shells exploded near the only open crossing between the two sectors of the divided capital. Police and hospital officials said at least two people, including a Lebanese soldier, were killed and 20 were wounded in the exchanges. A new cease-fire was called at 8 p.m., and a local radio station said it ap- peared to be holding. At least three mortar shells landed near the U.S. Embassy offices on the seafront in west Beirut, one in the water near the western end of the com- pound. "I think they were probably trying to hit the Holiday Inn," said a U.S. Marine guard, who spoke on condition he not be named. The devastated hotel is about a half mile east of the embassy. At dusk, streets in west Beirut were almost deserted. Fighting had tapered off late Monday night after the announcement of the disengagement pact, agreed upon during a meeting at Gemayel's palace in suburban Baabda. Army seeks Cameroon rebels ABIDJAN, Ivory Coast - Gunfire echoed through Cameroon's capital yesterday as troops hunted down rebels of the presidential palace guard who tried to topple the government last week, Western diplomats reported. Army units searched for fleeing rebels throughout the day, often raiding houses where suspects were believed to have taken refuge, said the diplomats, who spoke on condition they not be identified. They were reached in Yaounde, the capital, by telephone from Abidjan. The sources said as many as 500 heavily armed guardsmen had joined the attempt to oust President Paul Biya in the West Africian country with a population of 8.4 million. There still was no clear indication of casualties from the two days of bitter fighting that broke out early Friday. One Western diplomat said he.believed 500 dead or wounded "a reasonable estimate." Another quoted mid-level Cameroonian officials as saying there could be as many as 2,000 casualties. Census Bureau reports one in three executives are women WASHINGTON - Women now hold nearly one-third of the nation's management jobs and have significantly raised their representation in many other occupations, the Census Bureau reported yesterday. A new analysis of employment figures comparing 1970 and 1980 found women increasing from 38 percent of the labor force to 42.6 percent. But their share of many previously male-dominated jobs increased much more sharply than that growth would indicate. For example, 17.1 percent of the nation's judges in 1980 were women, up from 6.1 percent a decade earlier. And their representation among lawyers rose from 4.9 percent to 13.9 percent. The new study compiled by the Census Bureau and the Bureau of Labor Statistics found women holding 30.5 percent of the nation's executive, ad- ministrative and managerial positions in 1980, up 18.5 percent from a decade earlier. Gov't to investigate Ford brakes WASHINGTON - The government, already pressing a suit to have 1.1 million General Motors cars recalled because of brakes that lock prematurely, announced an investigation yesterday into reports of similar problems in 431,000 Ford cars. The investigation by the National Highway Traffic Safety Administration is focusing on 1979 Ford Mustangs and Mercury Capris, after the agency received 160 complaints about brakes locking in the cars. "We have opened a defect investigation" into the Ford cars, NHTSA spokesman Hal Paris said. If investigators conclude that a safety defect exists, the government could order Ford to recall the cars to make repairs. But as has been shown in the GM X-body case, the manufacturer is free to challenge a recall. "Danger! Radioactive Waste" April11 7-8:00pm uiaii iiuuiuiuiuuiiu "When is a Chemical Too Dangerous?" April11 8-9:30 pm III1 : lIiii"Should You Go to Court?" April12 1-2:30 pm "Can the Govermment Regulate lbxics Away?" IIIIIIIIIII~iIIIINII pri/12 3-4:30 pm P ll-lllllllgl 9 3 /r f1 t YI 1 \ .. ' + r : + Stop by Ulrich's and see a Josten's representative on Monday, April 9 through Friday, April 13, 11:00 a.m. - 4:00 p.m. He will be glad to show you the entire line of rings from Josten's. During this week you can get $15 off 10K gold rings and $25 off all 14K gold rings. The White Lustrium ring is only $79.95 on these dates. th Anniversary 1934-1984 MORE THAN A BOOKSTORE 549 E. University Ann Arbor, MI (313)662-9270 (at the corner of East U. and South U.) is 0 \ 4k SUMMER Royal Prestige is seeking students to help supplement its Summer Work Force! r' - - 6 "b A C"l - . .- - I 1 s . . i The Semester May Be Ending - But the Daily is Just Beginning! WE'RE READY FOR SPRING ANSUMR LEAVE BLANK YES! I Would Like To Subscribe To the Michigan Daily LEAVE BLANK be Alirbhin.13 aiI Wednesday, April 11, 1984 Vol. XCIV-No. 153 (ISSN 0745-967X) The Michigan Daily is edited and managed by students at The University of Michigan. Published daily Tuesday through Sunday mornings during the University year at 420 Maynard Street, Ann Arbor, Michigan, 48109. Sub- scription rates: $15.50 September through April (2 semesters); $19.50 by mail outside Ann Arbor. Summer session published Tuesday through Satur- day mornings. Subscription rates: $8 in Ann Arbor; $10 by mail outside Ann Arbor. Second class postage paid at Ann Arbor, Michigan. POSTMASTER: Send address changes to THE MICHIGAN DAILY, 420 Maynard Street, Ann Arbor, MI 48109. The Michigan Daily is a member of the Associated Press and subscribes to United Press International, Pacific News Service, Los Angeles Times Syn- dicate and Field Enterprises Newspaper Syndicate. News room (313) 764-0552, 76-DAILY; Sports desk, 763-0376; Circulation, 764-0558; Classified Advertising, 764-0557; Display Advertising, 764-0554; Billing, 764-0550. SPORTS STAFF: Sue Broser, Dan Coven, Gary Ef- Editor-in-Chief...............BILL SPINDLE fman, Joe Ewing, Chris Gerhasi, Tom Keaney. Ted Managing Editor............... BARBARA MISLE Lerner, Tim Makinen, Adam Martin, Scott McKinlay, News Editor .. ...... ... JIM SPARKS Barb McQuade, Brad Morgan, Phil Nussel, Sandy Pin- Student Affairs Editor CHERYL BAACKE cus, Rob Pollard, Mike Redstone. Scott Salowich. Ran- Opinion Page Editors ........ JAMES BOYD dy Schwartz, Susan Warner. Rich Weides, Andrea JACKIE YOUNG Wolf. Arts/Magazine Editor . MARE HODGES Business Manager.................STEVE BLOOM Associate Arts Editor...... STEVEN SUSSER Sales Manager.............. DEBBIE DIOGUARDI Chief Photographer...........DOUG MCMAHON Oerat ions Manager..............KELLY DOLAN Sports Editor..................MIKE MCGRAW Classified Manager. MICHAEL MANNASTER Associate Sports Editors........... JEFF BERGIDA Display Manager......... .... PETER LIPSON KATIE BLACKWELL Finance Manager...............LINDA KAFTAN PAUL HELGREN Nationals Manager......... ....... JOE ORTIZ DOUGLAS. LEVX Co-op Manager.................JANE CAPLAN STEVE WISE Assistant Display Manager............ JEFF DOBEK NEWS STAFF: Susan Angel, John Arntz. Steve Assistant Classified Managers.......TERENCE YEE Barrett. Sue Barto, Neil Chase, Laurie Delater, Andrew JOANNA SU Eriksen, Marcy Fleisher. Marla Gold. Rachel Gottich., Assistant Sales Manager.......... AURIE TRUSKE 0 (PLEASE PRINT) LAST NAME FIRST NUMBER STREET NAME APT. NUMBER CITY - STATE - ZIP PHONE NUMBER 1 t J J t r Please Check If you Are Continuing Your Subscription El UNIVERSITY ACCOUNTS INCLUDE P.O. NUMBER SUBSCRIPTION RATES I 1 1