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Page 2-The Michigan Daily- Monday, April 13, 1992
Japanese calm despite drastic Nikkei drop
TOKYO (AP) - When the Tokyo
stock market lost a staggering $240 bil-
lion in just three days, no one jumped out
a window.
Japan has both record trade surpluses
and wealth to spare, which may explain
the collective sangfroid with which in-
vestors view the Nikkei stock average
plunge.
Outside the Nomura Securities branch
office in the chic Ginza shopping district,
4 few business people stood in a drizzle
Friday, gazing through a large window at
red numbers flashing on a large board.
Few spoke as they watched the Nikkei
make a one-day recovery and end the
week at 17,850.66.
"All I can do at this point is to wait
another several years until the market
erases my losses," one said calmly.
The late 1980s were the height of
Japan's "bubble economy," when soaring
land prices and cheap credit sent the
Nikkei into the stratosphere, making
thousands of people paper millionaires.
The Nikkei peaked at 38,915.87 on Dec.
29, 1989.
A tightened money policy and a mild
recession popped that bubble. The value
of stocks dropped by $2.4 trillion, more
than half, in a generally gradual decline
that has lasted 2 1/2 years.
The prevailing mood seems to be
"easy come, easy go" despite a rise in
bankruptcies, particularly among real
estate and stock speculators.
"Sales of Bentleys are down.
Japanese aren't buying as many paint-
ings from 1860," said Andrew Ballingal,
chief strategist at Barclays de Zoete
Wedd Securities in Tokyo. "But the basic
fabric of this economy is still very
strong."
Another reason for calm on the streets
is that individual investors own only
about -20 percent of the equity on the
Tokyo exchange. Hit hardest are banks,
life insurance companies and other cor-
porations that own the other 80 percent.
As Japan's strongest companies,
however, they also are best able to ab-
sorb the shock.
Birmingham public schools will
teach various religions this fall
} BIRMINGHAM, Mich. (AP) -
Christianity, Judaism, Hinduism,
Islam and Buddhism will be taught
in Birmingham Public School class-
rooms starting this fall.
Suggested lesson plans for the
studies, for grades kindergarten
through 12, are outlined in drafts of
teachers manuals.
Parents will have the option of
pulling their children from a class if
they disapprove, said assistant
Superintendent Ronald Miller.
"There are some who feel the
schools should be religion-free," he
acknowledged. "But we have to ad-
dress these things because, as we be-
come more diverse, we have to un-
derstand each other."
Miller helped coordinate the pro-
gram with the Greater Detroit
Interfaith Round Table of the
National Conference of Christians
and Jews Inc.
"They must always keep it clear
that they are not advocating reli-
gion," said Elsa Shartis, a lawyer
with the American Civil Liberties
Union in Oakland County.
Cecilia Lakin, a professor of reli-
gious studies at the University of
Detroit and director of the Interfaith
Educational Alliance, said that there
is a fear of teaching religion because
some teachers don't understand it.
REVIEW
Continued from page 1
a reason why merely discussing the
policy should make people feel un-
welcome."
Law School Professor Douglas
Kahn said affirmative action issues
often cause discomfort because there
is not necessarily a perfect solution.
"There's really no way ybu can raise
empirical evidence to support an an-
swer," he said.
Although Kahn said he supported
open discussion of affirmative action
policies, he acknowledged that de-
bating the issue can "help to build
walls."
"It is awkward. Some of the ar-
guments can be put in ways that are
hurtful," he said. "In the long run, if
you subvert discussion, you have
people going around and talking
among themselves."
Karen Stevens, a first-year law
student and member of the Black
Law Students Alliance, agreed that
discussions of affirmative action can
sometimes cause harm.
"I think that it's true that having
an affirmative action policy raises
concerns for both minority students
and white students," Stevens said. "I
do wonder if there's some kind of
backlash when I hear people talking
about that kind of policy."
But Stevens said she is under the
impression that the affirmative ac-
tion policy is frequently discussed at
the Law Review. "By discussing it
every year, it becomes very clear to
people what they're trying to do. I
think that's good," she said.
Christopher Ware-Dorman, a
first-year law student and member of
the Black Law Students Alliance,
also said the possible tensions cre-
ated by an affirmative action policy
necessitate an open discussion of the
matter.
"(The editorial board) is to expect
that people are going to question
these programs," Ware-Dorman
said. While he said the board has the
right to discuss the policy in private,
when information is leaked there is
an obligation to discuss the policies
openly.
The competitive atmosphere of
the Law School makes it even more
imperative to hold open discussions,
he added.
"The tensions arise because of
competitiveness and the feeling that
other people may be getting an
edge," he said.
Although Forde-Mazrui was
originally opposed to the policy, he
said he will support the board's
decision now that the issue has been
discussed.
"I'm willing to join hands with
everyone and say this is our policy,"
Forde-Mazrui said.
OLIVET
Continued from page 1
"I think after the meeting, the parents felt a little
more reassured than when they first came," Murphy
said. "It laid the groundwork for the students to re-
turn."
But Junior Lori Purifoy described the meeting as "a
waste of time." She said she won't be back until secu-
rity is enhanced.
"We're back in the same spot where we began,"
said the Black Detroit woman. "But this is still proving
to be a racist institution who supports and breeds
racism."
"They can tiptoe around their rules, and they've
done that," she said.
Not all the parents were satisfied.
"We don't really feel students will be back
Monday," said Joann Burch, whose daughter, Ericka,
moved off campus last week.
One Black student who plans to stay is Ruth
Idakula, a first-year student from Nigeria.
"I'm a little scared," she said. "I'm staying because
I pay $10,000 a year to get an education. I came all the
way from Africa to get it and I'm not going to leave
just because I feel threatened by anyone."
PARTY
Continued from page 1
battery. He added there were no reports of injuries or
property damage.
Campbell - who was not on duty last night - said
he was surprised that so many cars were at the scene.
"Seventeen cars is most of the force," he said. "The
department only has 25 cars altogether."
Singleton said she thought the mood of the party was
celebratory and not at all dangerous or violent. She
added that drinking at the party was strictly controlled.
"There was some drinking, but the only people who
were doing it were over 21," she said. "They were
checking IDs."
Representatives of the Nectarine Ballroom were
unavailable for comment.
SHAR~ON MUSHER/Dally
A Take Back The Night marcher practices saying
"No!" at the rally in front of City Hall before the march.
FEMINISTS
Continued from page 1
declaration of change, don't be tempted to buy into the
myth that a stranger jumping out of an alley is what we
must protect ourselves against," Candy said. "The
home is more dangerous than the stranger in the
streets."
Sherri Johnson, editor of Above a Whisper -- a
magazine which publishes poetry and art by sexual
assault survivors - addressed problems she said are
associated with the melting pot theory. Johnson
claimed the theory forces people to forget their origins
and what they mean in relation to the rest of the world.
She advocated the "salad bowl principle" instead.
"The salad bowl principle leads us to accept and
value diversity. The different vegetables enhance the
final product and they all have a chance to rise up,"
Johnson said.
LSA junior Jenny Cass told marchers she is
extraordinarily proud of being a sexual assault
survivor. "It took me a long time to feel this way. For
months, I wanted to kill myself because of the shame
and fear that had become my constant companion,"
Cass said.
Cass challenged the crowd to change society and
stop the rape culture that is perpetuated on a daily
basis. "I want to be able to walk through any city street
at 3 a.m. wearing anything I want."
Kata Issari, interim coordinator of the Sexual
Assault Prevention and Awareness Center, inspired the
crowd to chant "fierce feminists, in your face." Issari
said "no one is free" until all forms of oppression are
eliminated. Issari urged the crowd to learn about other
cultures and ethnicities.
"When you learn, you change yourself - and you
start to change the world," she said.
As women marched and chanted through town,
organizers dashed out from the crowd and handed
onlookers green ribbons - which are being worn in
honor of Rape Prevention Month.
A confused looking Scott Liles, an LSA junior, said
"I'm just trying to figure out what's going on," as he
stared at the procession of women marching past the
Law Quad. Others, however, enthusiastically cheered
on the women.
Women danced to tunes such as "Sisters Gotta Do
it for Themselves" and "I'm Still Standing" outside of
City Hall following the march. RC senior Estee Segal
said it was a great experience.
"I feel empowered!" she said. "We sent a message
to men that we are serious and united - and they
better listen!"
LSA junior Ellen Fred agreed. "I marched because
I thought it was about time I did something to show I
am sick and tired of the sexism on this campus," she
said.
Approximately 30 men stayed behind and rallied
while the women marched.
"I think (rape prevention) belongs with men and
not with women because ... I'm the one that the
problem starts with," said School of Education junior
John Straw.
Karl Ilg, an LSA sophomore and organizer of the
men's rally, said he was disappointed with the turnout.
"We lose about half the crowd when the women take
off. Men think things are done," Ilg said.
- Daily News Editor Henry Goldblatt contributed
to this report.
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about 10 University students organized by the Trained
Volunteer Corps for a "National Student Campaign
against Homelessness."
Rabinovitch said he was concerned about student
awareness and the distorted image of the homeless. "I
think it is a good project for students to get into
because it gives you a hands-on perspective of where
these people are living," he said.
"One of the most positive things a student can do is
get to know a homeless person. It dispels the image of
the drunk or a person with a shopping cart. Really, a
majority are living just below the standard of living,"
he said.
For example, Summerfield said there are people in
the shelter who work all day and return to the shelter at
night to sleep. With their minimum wages coinciding
with cuts in low-cost public housing, she said many
have no choice but to stay at the shelter.
Assistant Director Leah Maloney said volunteer
support for daily operations is a necessity. "We
survive off them. There is a daily need for volunteers
because it is the backbone of the organization."
LSA senior Kirk Jobe said more participation from
the community would benefit the shelter. "We try to
help out on our level in town. It would be nice if more
people were here, and everyone helped out a little bit."
daily *
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Stop by and say "HIGH!" The best Store In Ann Arbor--
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Professor for the Study of
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NEWS Henry Goldblatt, Managing Editor
EDITORS: David Rhaingold, Bethany Robertson, Stefanie Vines, Ken Walker LIST EDITOR: David Shepardson
STAFF: Laura Adderey, Lan Barager, Hope CalaHi, Barry Cohen, Ben Deci, Lauren Dormer, Erin Einhom Ren. dHuckle, Loretta Lee,
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STAFF: Matt Adler, Jenny Alix, Renee Bushey, Daren Hubbard, David Lehtner, Dave Rowe, David Shepardseon, Daniel Stewart
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PHOTO Kristoffer Gillette, Kenneth JI Smeller, Editors
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