Page 2 - The Michigan Daily - Monday, November 18, 1985
(Continued from Page 1).
hitting upon a sure sell. LSA freshman
James Hoffman knows well the pain
of striking out.
As a sophomore in high school, Hof-
fman began his own computer sof-
tware company by writing a data base
management program. But he was
able to sell only one copy - for $30. "I
put more money into it than I got out,"
he says although he isn't certain of
jest how much he lost.
Then he and high school friends
organized a consortium with com-
outer companies in his hometown of
Northbrook, Illinois. His concept was
to buy computers at cut-rate prices and
resell them at a profit. But that plan
also fizzled because as Hoffman
reasons were probably smart enough
to buy directly frm the computer
Undaunted Hoffman this term went
on to help start up a computerized
typing service in Markley residence
hall. And currently, he's writing
another computer program for
home investors. Hoffman isn't certain
this program is a winner either, but
figures he can make at least $300.
"MY MAIN purpose is not money,
but to gain experience in business,''
Ressler's enthusiasm and Hof-
fman's determination typify the
average entrepreneur, according to
Carol Moore, a business school
professor who teaches a new course en-
titled, "Psychology of the En-
take their business seriously
Daily Photo by DEAN RANDAZZO
LSA freshman James Hoffman bounced back from his failure as an entrepreneur in high school to form a
computerized typing service in Mary Markley residence hall.
"Typically, entrepreneurs have a
high self-esteem and a high need for
achievement,'' she says. "They're
very tolerant of (unstructured work
environments) and feel they are in
control of a situation, rather than sub-
ject to fate or luck."
NOT surprisingly, most en-
trepreneurs have watched at least one
OPEN 24 HOURS
3C Self-serve Copies
9:00 p.m. - 6:00 a.m.
540 E. Liberty " 761-4559
Across from Michigan Theater
parent run their own business, accor-
ding to a 1983 study by the New York-
based Center for Entrepreneurial
Business school senior Shari Edson,
a recent convert to en-
trepreneurism, says her parents
have always juggled their jobs as
professors with business ventures in-
cluding real estate.
"I think a little bit of (their) always
looking for new projects or something
to do influenced me," Edson says.
The Institute offers 12 graduate in-
ternships each year and offers faculty
another means with which to keep up
with industry's needs.
EDSON'S FIRST move into the
world of self-employment came last
Valentine's Day, when she ran a
breakfast-in-bed service for Univer-
sity students. Not only did she pocket
$250, she also earned arcredit from a
marketing professor for careful plan-
ning of the project.
Echoing other student en-
trepreneurs, Edson says her project
was a "tool" to help her learn about the,
business world. Eventually, she wants
to work for a venture capital firm.
"A venture capital firm lends out
money to starting businesses or may
buy up a business that's going
bankrupt," she says, adding "I get
bored very easily, and things are not
going to get stale if I keep working for
different firms all the time."
EDSON'S undergraduate counter-
parts envision starting their own fir-
ms some day - but only after first
learning the ropes at a major cor-
They may learn the same thing as
MBA student Luke Meert did while he
worked for a variety of companies
over 4 and one-half years: working for
anyone but yourself is unfulfilling.
"You have no ownership of your
decisions," he says of being an em-
ployee in a big firm. "I also don't like
the inability to change the company.
It's just too big, and you're on the bot-
Meert has start a beef business with
his father, a consulting service, and a
landscaping service since he
graduated from the University's un-
dergraduate business program in
1979. Now he is president of the
club. And already, he has targeted an
employer for whom he'd like to work
after graduating this spring.
NIGHT OWLS TAKE A STUDY BREAK!
Buy 2 or more of Mrs. Peabody's cookies
or brownies after 9:00 p.m. and get
a FREE beverage!
COMPILED FROM ASSOCIATED PRESS AND
UNITED PRESS INTERNATIONAL REPORTS
Soviets say U.S. hurts talks
GENEVA - Soviet officials, talking tough during a pre-summit
briefing, said yesterday that the two-day meetings would be a "trail by
fire" for President Reagan, and accused the United States of torpedoing
any progress toward a superpower arms agreement.
A grimfaced President Reagan said "hell, no" yesterday when asked
if he was planning to fire Defense Secretary Caspar Weinberger over the
leak of a letter advising that the United States abandon the SALT 2 treaty.
Weinberger's letter to the president recommended that Reagan stop
abiding by the treaty in light of numerous, severe Soviet violations of the
1979 arms control pact, initialed in Vienna by President Jimmy Carter
and Soviet leader Leonid Brenzhnev during the last superpower summit.
Georgy Arbatov, a chief Kremlin expert on U.S. affairs, discussed the
Soviet view of the "Weinberger letter" on Soviet arms violations, and
reiterated to reporters here that Reagan's Strategic Defense Initative, or
"Star Wars," was a key hindrance to any arms accord.
Columbia to build new Armero
ARMERO, Colombia - The local government vowed yesterday to
rebuild the Andean farming town of Armero, destroyed when a volcano
eruption set off a gigantic mudslide that buried Armero and killed more
than 21,000 people.
"What we don't know is where we will erect the new Armero," said
Eduardo Alzate, governor of the Tolima province.
In an interview with RCN radio in Lerida, a nearby town where sur-
vivors were receiving aid, Alzate said new locations would have to be
discussed with Armero's survivors and the area's farmers, because Ar-
mero was an important marketing center.
Health Minister Rafael Zubiria said Saturday night that Armero would
be made into a cemetary, because it was not possible to recover the
thousands of bodies.
The town was covered by a 15-foot-deep river of mud that swept down
the Nevado del Ruiz volcano early Thursday. The volcano eruption
melted an ice cap, overflowing a river.
Zubiria said civil defense workers would begin burning decomposing
bodies jutting from the mudflats to prevent disease.
Vietnam to aid MIA search
HANOI, Vietnam - Experts assembled yesterday for the first joint
U.S.-Vietnamese excavation of an American warplane crash site - con
sidered a breakthrough in the decade-long dispute over servicemen listed
as missing in action.
Col. Joe Harvey, head of a four-man U.S. military mission that conduc-
ted MIS talks in Hanoi last week, said a seven-man U.S. team was
scheduled to arrive today, with a backhoe tractor, metal detectors, pum-
ps and metal-cutting equipment.
The Americans in the military mission yesterday waited for the U.S.
team that will join them and several Vietnamese in the excavation at the
site of a B-52 bomber crash 9 miles north of Hanoi. The work was to begin
Tran Hoang, director of.the North American section of the Vietnamese
Foreign Ministry, said Saturday the join project, the first of its kind, was
part of a new two-year plan to resolve the MIA issue.
Envoy meets captors in Beirut
BEIRUT, Lebanon - Church of England envoy Terry Waite left Beirut
yesterday to report on his efforts to free four American hostages after
meeting with their captors. He called the situation both "hopeful and
Waite, making his first public appearance since going underground in
west Beirut Thursday, told reporters he was sure the four American were
safe, but he declined to discuss details of his attempts to secure their
"I will not say when I met, with whom I met or what passed between
us," the bearded envoy told reporters at a news conference before
leaving for London.
"Lives are at risk and a wrong move or wrong word could cost lives.
I'm not being overly dramatic," he said.
Wayne County court slows down
DETROIT - A recent study shows the civil division of Wayne County
Circuit Court, already the slowest of 17 major city judicial systems in the
United States, is getting slower.
According to the study more than one-third of the caseload in Wayne's
Circuit Court has languished there for more than two years.
Another new survey, however, shows the comparable division in the
Oakland Circuit Court, where only 3 percent of the cases have been pen-
ding for more than two years, is one of the most efficient in Michigan.
Attorneys and judges in Metro Detroit, asked by the Detroit News to
comment on the differences in the county court dockets, said the main
reason is that Oakland's judges are forced to be accountable and Wayne's
A single judge in Oakland handles a case from start to finish in order to
allow judges to be timed, tracked and rated against each other for ef-
ficiency. A case in Wayne, however, is heard by at least two judges,
making it hard to make comparisons.
01 he Michigan B atIV
Vol XCVI -No. 53
The Michigan Daily (ISSN 0745-967 X) is published Monday through
Friday during the Fall and Winter terms. Subscription rates: September
through April - $18.00 in Ann Arbor; $35.00 outside the city. One term -
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School of Education
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10's and 20's
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