The Michigan Daily -Thursday, September 20, 1990 - Page 7
Financial experts offer
advice for lottery jackpot '
NEW YORK (AP) - Winning a
lottery jackpot such as Florida's
$106.5 million bonanza can be a
sweet dream, but the temptations and
mysteries of new-found wealth can
become a nightmare. The advice
from most financial experts: take
"Preserving your capital is the
first thing you've got to do. You'll
have plenty of time to invest it,"
David McLaughlin, a financial ad-
viser with Chase Investment Coun-
sel in Charlottesville, Va., said
Monday. "You must make sure your
money is safe and earning some-
Continued from page 1
former adviser and ally, also is con-
As Communist Party leader in
1981, Jaruzelski imposed martial
law but peacefully transferred power
to a Solidarity-led government eight
years later. He was named president
by Parliament in July 1989 for a
Jaruzelski sent a letter yesterday
to the Sejm, or lower house of Par-
liament, asking it to name a date for
Such is the "problem" for at least
half a dozen Florida lottery players.
Six tickets matched the winning
numbers drawn in Florida on Satur-
day for a jackpot estimated at $106.5
million, the second largest in U.S.
history behind Pennsylvania's $115
million prize last year.
Charles Clough, chief investment
strategist for Merrill Lynch & Co.,
would recommend that 45 percent of
the winnings go into intermediate-
and long-term bonds, 10 percent to
15 percent in cash or 90-day T-bills,
and 40 percent to 45 percent in
"But stay away from stocks that
depend on cyclical consumer spend-
ing," he warned.
Past lottery winners from other
states have often found it difficult to
hold onto their newly acquired
Such was the case for a middle-
aged construction worker who won
$4 million in the New York lottery
four years ago.
After receiving a check for about
$148,000 - the first of his 20 an-
nual after-tax installments - he
quit his $38,000-a-year job, threw a
party and put $10,000 down on each
of 10 new Cadillacs, said Michael
Naste, an independent financial plan-
ner from Deland, Fla., who special-
izes in helping lottery winners in-
vest their money.
ending his term.
Jaruzelski announced his planned
resignation after a six-hour meeting
at which the nation's feuding politi-
cal leaders agreed in principle to hold
early elections for both the presi-
dency and Parliament. No date was
set for what would be post-
Communist Poland's first fully
democratic elections for president and
The current Parliament was
elected in June 1989, but 65 percent
of the seats were guaranteed to the
now-dissolved Communists and their
The president wants Parliament
"to enable him to transfer the office
he holds to a president chosen in a
general election," a Jaruzelski
spokesperson said in a statement.
Jaruzelski is "concerned about
preventing unnecessary social emo-
tions and willing to develop democ-
racy," according to the statement,
carried by the official PAP news
Elections are expected as early as
this fall and no later than spring.
Participants in a meeting Tuesday
suggested that Jaruzelski should re-
sign no later than Dec. 13, the ninth
anniversary of the day he declared
martial law to crush the Solidarity
movement, according to sources con-
tacted by the Gazeta Wyborcza
Jaruzelski's election as president
in 1989 came about with some sup-
port from Solidarity parliament
members. It was meant to guarantee
good relations with the Soviet
Union in the first month of Poland's
On the move APhot
Kuwaiti children keep an eye on their pet falcons from the top of their car as several hundred refugees wait to
pass through immigration processing at the Saudi-Kuwait border yesterday. Falconry is an ancient and
traditional sport among the Arab people.
NEEDED: 2 UCLA tickets for parents. Will
pay top $$. Call Dennis 651-3883.
FOR SALE: 4 season football tickets. Sec-
tion 25 on the aisle. Call 769-9946, David or
FOR SALE Season Football. Best offer.
WAN'rED: UCLA tickets. $$$$$ Call Lisa
at 663-9718. Please lcave message.
SELLING PAIR OF TIX Sec. 26-28. Peter
NEED TO SELL student season football
tickets. Reasonable price. Call 998-0059.
THERE WILL BE a memorial service for
Sociology grad student Jeffrey Matthew on
Friday, Sept. 21 at 4:00 in the Vandenberg
Room at the Michigan League.
VOLUNTEERS TO distribute flyers for
Jack Herer & the Hemp Tour rally Friday,
:coon on diag & evening reggae benifit at
Student Union. 'v Rick 663-9048.
Household goods, new & used
Vintage clothing, jewelry
6-10 Fit ov.10man6pm Sat. & Sm.
214 E Mktgan Park, Dowtown Ypdan
487-5890 or 971-7676
GRAD ROOMMATE NEEDED to share
large apt. N. Camp & hosp., furn., chem. free.
$357 + util. Robin 668-6313.
HOUSEMATE NEEDED to share 5 bdrm.
house near Kerrytown. w Laundry, parking,
big friendly dog, responsible housemates.
MALE OR FEMALE TO RENT ROOM in
3 bdrm. apt. $275/mo. Call 747-6443, leave
MALE ROOMMATE WANTED for a lar-
ge bi-level 1 bdrm. apt. $260 a month + util.
Located across from the IM Bldg. Call Pete
@ 930-0151 for more info.
ROOMMATE sought to share double in 6-
person house on Packard. $230. 747-6920.
SINGLE ROOM in great house. 4 fun neat
rmtes. M/F non-smoker. $295. 994-9135.
COMPUTER SALES & technical.
Downtown Ann Arbor. Call 747-9400.
MAC PLUS FOR SALE extended
keyboard, modem, & software. $1000. Call
John after 5:30, 662-4665.
DAILY SOAPs (i.e. The Adventures of Thin
Lou); "Thin Lou was not your typical small
town hood. No, unlike his bulkier patrons in
crime, Thin had the cat-like-quickness and
minimal % body fat to get him in and out of
tight situations with the skill of a worm. I
know this, for I myself was a part of that
notoriously rotten and relentlessly hunted
gang, "The Disciples of Thin Lou."
VISA OR MASTERCARD! Even
if bankrupt or bad credit! We
Guarantee you a card or double
your money back. Call (805) 682-
"Coney Dog" Dinner on Sunday
4:00 - 10:00 p.m.
(Lambda Chi Alpha)
1601 Washtenaw at Hill
Across from "the Rock"
Wears No Clothes
.Rally at U of M Diag 12-1 Fri..
*HEMP Tour benefit "
;Michigan Union ;
" Ballroom 8pm Fri.."
* For info. call Rick 663-9048
. Paid Advertisement *
with this coupon
8 112 X 11, white, self serve or auto fed only
Open 24 Hours
S40 F. T1 ibrt-x
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