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October 17, 1989 - Image 1

Resource type:
The Michigan Daily, 1989-10-17

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Goaltending stood out during the Wolverines'
series last weekend against Miami

Duderstadt flouts democratic process

3 Sheep take over Japan

Aidsgan ail
Ninety-nine years of editorial freedom
Vol. C, No.30 Ann Arbor, Michigan -Tuesday, October 17, 1989 ThMc~pauv

VP: Market
drop won't
affect 'U'
Dow bounces back

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190-point fall

by Donna Woodwell
Daily Staff Writer

As the Dow Jones industrial average rebounded after
Friday's 190-point stock market plunge, the Univer-
sity's top financial officer said the fluctuation will have
little effect on the University's investments.
Farris Womack, the University's vice president and
chief financial officer, said, "We (the University) try not
to be short-term investors" and "tend not to be invested
in larger component corporations" such as the ones re-
flected by the Dow averages.
In the fourth largest point-gain in its history, the
* Dow surged 88.12 points to close yesterday at
2,657.38. The rally came as buyers flocked to the mar-
ket to snap up bargain stock prices created by Friday's
Womack said about 62 percent of the University's
endowment, the source of scholarships and professor-
ships, is invested in common stock, such as those
which are traded on the New York Stock Exchange.
However, this fund is separate from University oper-
ating funds, which are primarily generated through stu-
dent tuitions. Womack said, "Nothing students pay is
*invested in the market," adding that recent events will
have "no effect on student tuition."
Womack said if the market experiences a continued t
drop, the market value of the endowment would decline,
which could then effect the value of individual scholar-
ships and fellowships.
"Any decline in the market is troubling, but not to
be viewed as something to react to," he said.
Economics Prof. Thomas Juster said the decline
would not affect most University students.
"It wouldn't have much of a direct effect, except that
- on average - the families of U of M students are
richer than the general population, and consequently
families may be affected," he said.
National stock market dealers said yesterday that trad-
ing was less feverish than during the 1987 market crash,
when the Dow fell a record 508 points. "There isn't the
same panic," said Bob Wade, joint head of market mak-
ing at Robert Fleming and Co. in London.

1 3 J

overtakes the
U campus
by Diane Cook
Daily Research Reporter
and Miguel Cruz
Daily News Editor
This week, the University is hosting the 25th an-
niversary celebration of EDUCOM, a computer sympo-
sium scheduled to attract more than 3,500 participants
- the largest convention ever to come to Anln Arbor.
EDUCOM is a consortium of more than 590 col-
leges and universities formed to address issues of higher
education computing and communication.
The event will officially begin this morning with a
keynote address from IBM Chair and Chief Executive
Officer John Akers.
More than 80 featured speakers will deliver presenta-
tions and corporate demonstrations. To close the cere-
monies Thursday, Nobel Prize winner in physics Arno
Penzias, vice-president of research at AT&T will speak
on "Preparing for Tomorrow's World" at Hill Audito-
aiy Over 130 corporate associates will participate in the
programs, which also attract funding from foundation
grants, member dues, and service fees.
See EDUCOM, page 2

These satellite dishes next to the Bell Tower are part of the high-tech communications facilities brought to
campus for Educom '89, a national computer conference that will be taking over Ann Arbor for the rest of the

Transfers increase 'U' minority enrollment

by Noah Finkel
Daily Administration Reporter
University officials say the reason
for this year's 9.6 percent increase in
minority student enrollment is the
higher number of transfer students -
mostly from community colleges -
and graduate students.
Currently, a record high of 5,454
minority students, or 16.6 percent of all
students, are enrolled at the University.
Enrollment of first-year undergradu-
ate minority students dropped six per-
cent this fall, but officials say the de-
crease has been offset by the increases in
transfer and graduate students.
Assistant Director of Admissions
James VanHecke said the increase in
minority transfer students is due to

stepped-up recruiting efforts at commu-
nity colleges.
VanHecke said half the minority col-
lege students in Michigan are in com-
munity colleges, creating an immense
reservoir for University recruiters.
Because minority enrollment for
first-year minority students did not in-
crease, some student leaders are skeptical
about the large increase in community
college minority transfer students.
"It's a good thing if it's getting stu-
dents here, but at the same time it
shouldn't be the focal point of recruit-
ment," said Delro Harris, chair of the
Michigan Student Assembly's Minority
Affairs Commission.
"There are a lot of high school stu-
dents they can bring here, but as a sup-

plement (community college students)
are all right," Harris said.
Vice Provost for Minority Affairs
Charles Moody said the University has
been meeting with presidents of the
community colleges, a move which he
said may have encouraged community
college students to consider transferring.
There are more extensive programs
designed to increase the numbers of mi-
nority community college transfer stu-
dents to the University that have been
put in place in the past year, Moody
said, but the results of those programs
has not yet been seen.
One program, begun last fall, admits
students who have completed two years

of Wayne County Community Col-
lege's Honors Program to the College
of LSA. The students are admitted as
juniors, because the community college
honors curriculum has been pre-ap-
proved by the LSA faculty.
A similar program was started in
January by Wayne County Community
College, the University's School of
Natural Resources, and the U.S. De-
partment of Interior. In the program,
students in land-use management spend
two years at the community college and
are then admitted to the University as
The highest jump in minority en-
rollment was in the Rackham Graduate
School, which increased from 587 to
673 students, or 14.7 percent.

- The Associated Press contributed to this report.


City Council decides against
raising cost of vending licenses

by Tara Gruzen
Daily City Reporter
The cost of Ann Arbor peddler
and solicitor licenses will not be in-
creased to $35, the City Council de-
cided last night.
In a 6-5 vote - which fell al-
most directly among partisan lines
- the council decided to leave the
price of the licenses at $10, the same
price they have been since 1981.
"We really don't need this ordi-
nance," said councilmember Tom
Richardson (R-Fifth Ward), one of
the Republicans who voted with the
four council Democrats.
"It's not a good idea to discourage
individuals who are trying to better
their lot in life," he added.
Richardson criticized coun-
cilmembers who favored the ordi-
nance for abandoning their commit-
ment to diversity in Ann Arbor.
Responding to earlier statements
by councilmember Terry Martin (R-
Second Ward) that peddlers after last
year's NCAA basketball champi-
onships were "obnoxious and ugly,"
Richardson said fees should not be

added to the cost of a license to de-
crease any unfair advantage peddlers
may have over permanent merchants.
The resolution was tabled by the
council until the details could be fur-
ther clarified.
City Administrator Del Borgsdorf
said although the direct costs of issu-
ing the licenses are not more than
$10, there are many indirect costs to
the city from peddlers and solicitors.
These, he said, include policing ped-
dlers and investigating complaints.
A resolution to address stricter
enforcement of the licenses was also
tabled until a future meeting.
In other business, the council
voted unanimously to recognize the
week of Oct. 16-22 as Cooperative
and Credit Union Week.
Although there won't be any di-
rect celebrations of the week by the
Inter-Cooperative Council, Christo-
pher Taylor, an LSA senior and the
council's president, said the main
point of the week is to raise aware-
ness of co-ops in the minds of city

Be aware
Patty Skaisgir, an engineering first-year
Diag for Alcohol Awareness Week.

increased because some people think
peddlers are aesthetically unattrac-
Citing the fact that fees are
higher in other Michigan cities,
Martin argued that peddlers are unfair
competition for local businesses.
She proposed that a sales tax be

student and Zeta Tau Alpha sorority member, passes out fliers on the


Bush prepares to order $16 billion in Federal cuts unless Congress acts

House prepared an order for President Bush
to sign yesterday which would slash $16.1

The House version of the measure was stud-
ded with dozens of controversial provisions
- ranging from Bush's cherished capital

want to give them every chance." He con-
ceded that just when the president signs the
document was irrelevant. "Either we have a

permanent matter," said House Speaker
Thomas Foley (D-Wash.), using the formal
name for the Gramm-Rudman cuts.

Congress to send Bush the streamlined $14
billion deficit-cutting measure the Senate
approved late Friday. Then, he said, the ad-

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