By WENDY SHARP
The Board of Regents last Friday
approved the appointment of six
faculty members as department
Prof. Thomas Senior, current
associate chairperson of the engin -
eering department, was promoted to
department chair. His term runs
from Jan. 1 through Aug. 31.
Senior joined the engineering fac -
ulty in 1969.
Prof. Luis Gomez was reap-
pointed chair of the Department of
Asian Languages and Cultures for
another three years. Gomez, who
has served as chair since 1981,
joined the University faculty as an
associate professor in 1973.
The newly-named chair of the
Department of Near Eastern Studies
is Prof. Piotr Michalowski.
Michalowski, who started teaching
at the University in 1981, will
begin his five-year term in July.
Prof. Douglas Richstone, who
has served as interim chair since
1985, was named head of the
astronomy department. Richstone
came to the University in 1980.
His term is effective Feb. 1 through
June 30, 1990.
The new chair of the Department
of English Language and Literature
is Robert Weisbuch. Weisbuch
begins his three-year term on July
1; he joined the faculty irk 1972.
Communication Prof. Frank
Beaver was appointed head of his
department for three years.
- - --l. -- ----- ----- -.,.
The Michigan Daily - Thursday, January 22, 1987 - Page 3
'U' prof predicts
By FRANCIE ALLEN
with wire reports
A University economics
professor says signs of economic
recovery are evident despite the
recent downturn in family buying
power and the increase in the
foreign trade deficit.
Paul McCracken, who served as
chairman of the President's Council
of Economic Advisers during the
Nixon administration, spoke at the
16th Annual Economic Seminar at
the University of Florida Monday.
According to McCracken, a 5
percent decline in family purchasing
power since the 1970s means "the
purchasing power from an hour of
work today is actually lower than
that of a decade ago."
He said that throughout the first
two-thirds of the 20th century,
wages and production were rising at
about the same rate - 2 to 2.5
percent per year - and then leveled
off in the 1960s.
If these trends continued,
purchasing power based on an
hour's wage would have been 25-30
percent higher than it is currently,
McCracken said. s
McCraken predicts "international
economic disintegration" because of
the severity of the foreign trade
deficit. But he is optimistic about
the outlook for 1987.
"I think by 1990 we'll see a
budget deficit significantly lower
than what it now is," McCracken
said in a telephone interview. "A
$25 to $30 billion decline per year
is not impossible." The foreign
trade deficit was about $12.8 billion
in the first nine months of 1986.
ACCORDING to McCracken,
the dollar will devalue by 5-10
percent by year's end. He says
Congress will attempt to pass
protectionist legislation to restrict
foreign imports and "if the
President works with the Congress,
they can probably come up with
something that won't be too bad."
McCracken said the devaluation
of the dollar will restore the
confidence of foreign investors in
the American economy.
McCracken feels businesses can
make fundamental contributions
toward strengthening the economy.
Foreign competition, for instance,
has intensifed competition between
American businesses "and they'll
become more productive because of
it," he said.
Members of the Guardian Angels leave Atlanta City Hall in preparation for Saturday's civil rights march in
Cummings, GA. One member holds a sign with the group's slogan for the march "Guess Who's Coming To
Bull market to continue, prof says
(Continued from Page 1)
"During the past 20 years, in
most years the stocks have gone
down in December and they have
jumped up in the first few weeks in
January," he said.
Kim outlined three common
stories used to explain the January
effect: a desire to sell in December
to gain tax benefits on stock losses,
the investment of year-end salary
bonuses, and the "holiday spirit
"People have a nice holiday,
they feel great in January, so they
invest and jack up the stock
market," he said.
Finance Prof. David Brophy
attributes the rise, in part, to the
new tax law. "Toward the end of
last year there was a lot of
uncertainty about the new tax law.
That caused a lot of dumping by
people who wanted to claim capital
gains," he said. "Now we're seeing
a re-investment of that money into
Brophy predicts that the current
"bull" market will continue for
another 20 to 30 days. "Toward the
end of that period, we'll see a little
stabilizing," he said.
There are market watchers who
have predicted that the Dow will
reach 3,000 by year's end, Brophy
said. But, he added, "I don't believe
that that's in the cards."
Brophy doesn't feel that the new
Congress or President Reagan's
budget proposal have had much
effect on the market.
TUESDAY LUNCH LECTURES
INTERNATIONAL CENTER - 603 E. Madison
January 27: "WORK OPPORTUNITIES ABROAD"
Speaker: JANE DICKSON,
International Center Staff
Sponsored by the Ecumenical Campus Center
and The International Center
MSA will not join caucus
The Blot (Lois Weber, 1921),
AAFC, DBL/7:00 p.m., MLB 3.
A tale about the monetary plight of
intellectuals serves as the starting point
for an examination of how woman's
economic destiny is often decided by
The Bride Wore Red (Dorothy
Arzner, 1937), AAFC, DBL/9:00
p.m., MLB 3.
Joan Crawford is a brash cabaret girl
given two weeks in high society.
My Darling Clementine (J. Ford,
1946), C2, DBL/7:00 p.m., Nat Sci.
Yet another retelling of the gunfight at
the OK corrall. Henry Fonda is Wyatt
Earp, Victor Mature is Doc Holiday,
and the rest is history.
The Wild Bunch (Sam Peckinpah,
1969), C2, DBL/9:00 p.m., Nat Sci.
William Holden and Ernest Borgnine
are aging desperados making a last run
during the death throes of the old west.
Like most of Peckinpah's work, it is
spectacular only during it's graphic,
slow-motion ballets of violence.
Seven Samurai (Akira Kurosawa,
1954), CG, 7:00 p.m., Aud A.
Seven mercenaries agree to defend a
village against bandits in Kurosawa's
most famous and most accessible
work. Later remade as the much-
inferior Magnificent Seven.
An Evening With Rocky And
Bullwinkle (Jay Ward), MTF, 7:00
& 9:15 p.m., Mich.
Yes, it's the entire Rock and Bull
gang, plus special guest appearances by
Dudley Doright and Mr. Know It All.
See it and be hip.
David Scott, Irene Boruzcko,
Don Kuhli, and Allen
Lounsberry- "Suite by Claude
Bolling," Arts at Midday, 12:15 p.m.,
Michigan Union, Pendelton Room,
Everybody will enjoy these fine
musicians. Don't miss them.
Steven Collins- "Nirvana, Time,
and Narrative," Dept. of Asian
Languages & Cultures, 4 p.m., Lane
Hall, Commons Room.
Benny Schwartz- "Programs in
Isreal," 10 a.m.-4 p.m., Hillel, 1429
Marilyn Loden- "Management
Differences Between Men and Women,"
Michigan Business Women, 4:30
p.m., Michigan Business School, Hale
Jovce Adelson- "The Judging
Condensed Phases," Dept. of Chem-
istry, 4 p.m., 1200 Chemistry Bldg.
David Cole- "Future Planning
Issues in Auto Industry," The Strategic
Planning Club, 4:30 p.m., Assembly
Hall, Wolverine Room.
Matthew Evangelista- "What
About the Russians? American
Attitudes and Soviet Realities,"
Michigan Alliance for Disarmament,
7:30 p.m., Michigan Union.
James Sire- "Why Believe in
Anything at All?" Inter-Varsity"
Christian Fellowship, 7 p.m., 126
Richard Forrest- "Japan's
Environmental Policies- The Inter-
national Dimension," Center for
Japanese Studies, noon, Lane Hall,
University of Michigan
College Publications- Mass
meeting, 7:30 p.m., Michigan
Union, Pond Rooms.
LSA Student Government-
6 p.m., MSA Chambers, 3rd
Floor Michigan Union.
Ann Arbor War Tax Dissidents
Workshop- "Legislative Efforts in
the US: The US Peace Tax Fund Bill,
A Legal Mechanism for 'Alternative
Service' for Tax Dollars," 7:30 p.m.,
1420 Hill Street, (973-1155).
Nutrition Education- 7 p.m.,
Ann Arbor "Y", (663-0536).
Tape Sale- East Quad Music Co-
op, 10 a.m.-4 p.m., Fishbowl, (764-
Career Planning & Placement-
"Choosing Your Major," 4:10 p.m.,
2011 MLB; "The Job Search Lecture,"
4:10 p.m., MLB Lecture Room 1;
Information Session, 4:30 p.m., MLB
Auditorium 4, (764-7460).
Safewalk- Night time safety
walking service, 8 p.m.-1:30 a.m., 102
UGLi or call 936-1000.
ACU-I Campus Games
Tournament- Register in the
Billiards an Games Room, 2nd Floor
Michigan Union, (764-6498).
Asian American Reception- For
students, faculty, and staff, 4:30 p.m.,
Business School, Executive Lounge,
Send announcements of up-
coming events to "The List,"
c/o The Michigan Daily, 420
Maynard St., Ann Arbor,
Mich., 48109.' Include all per-
tinent information and a con-
tract phone number. We must
receive announcements for
Friday and Sunday events at
least two weeks before the
(continued from Page 1)
Other assembly members feared
the process of hand-picking student
representatives to such an advisory
committee would result in an
inadequate and biased student input.
"I think this was a move on
Josephson's part and on Duder -
stadt's part to consolidate power in
the decision-making process," said
MSA representative Mike Phillips,
an LSA sophomore.
Josephson could not be reached
Duderstadt said he is interested in
increasing the amount of student
input he receives. "I am committed
to strong student involvement," he
said. "MSA should be strong in
that, but I think a lot of other
students should be too."
Duderstadt said he met with the
student leaders in an informal
meeting to generate feedback on the
strategic planning process. Accor -
ding to him, the student members
decided among themselves to meet
regularly as a caucus and to hold
"They're not informal, they're
formal," Layman said. "He san -
ctioned that formation by granting
those people some interaction in
the process of deciding who gets the
University funding. These kinds of
actions help make people think that
MSA is not a legitimate
representative of the student body."
Committee for the Graduation announces the first
Senior T-Shirt Design Contest
(It's due tomorrow)
Winning design will be used on Senior Swing-Out t-shirts
for 1987, and worn by UM Seniors everywhere!
Be creative and turn in your design to the Student Alumni
Council, 200 Fletcher St. by January 23, before 5pm.
Winner will be announced on February 6, and
will receive a free t-shirt and 2 free tickets to the
Senior Swing- Out dance.
For further information call 763-9755
*Designs accepted from Seniors only.
A M E R IC A S C O L L E G E R i N G
Stop by and see a Jostens representative
this week to save on the gold ring of your choice.
Monday Jan. 19th-Friday Jan. 23rd, 11a.m. to 4p.m.
MORE THAN AI
of k 's
- ~ 549 East University
Ann Arbor, MI (313)662-3201
BOOKSTORE (at the corner of East U. and South U.)
TALLY HALL IS:
A STATE EMPLOYEE'S SMALL
BUSINESS DREAMS COMING TRUE
IN A WORLD OF CHILDREN'S
A few years ago, Curt Irish - a security trainer at the Forensic Center- had the
chance to go into business. He found a great opportunity with Children's Book Mark-
an area franchise carrying children's literature, toys, educational games, school supplies
Wanting a location outside a regional mall, Curt delayed his opening until
the completion of Tally Hall. Today, with art expert staff and more than 5000
tit[ s in stock, Children's Book Mark has all the necessary ingredients for success. *
Children's Book Mark is more than books. It's the commitment