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January 31, 1994 - Image 1

Resource type:
Text
Publication:
The Michigan Daily, 1994-01-31

Disclaimer: Computer generated plain text may have errors. Read more about this.

'Prelude to a
Kiss' failed as
a romance
Page 5

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One hundred three years of editorial freedom

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Greenspan
to rein in
economic
expansion?
WASHINGTON (AP) - For
President Clinton, the economic news
could hardly be better - the fastest
0 economic growth in six years, declin-
ing federal deficits and the best infla-
tion performance in two decades.
But the big question is whether
Federal Reserve Board Chairman
Alan Greenspan is about to step in
and play the Fed's traditional role of
party pooper.
Many economists believe that the
central bank is about to start boosting
* interest rates to slow economic activ-
ity and keep inflationary pressures
from getting out of hand.
Greenspan was scheduled to give
the Fed's assessment of the current
state of the economy to a congres-
sional committee today, the first time
he has done so since July. In addition,
Fed policymakers will meet Thurs-
day and Friday this week to review
their interest rate policies and set tar-
gets for money growth for the new
year.
Many analysts believe that the
central bank is preparing to do some-
thing it has not done since 1989 -
raise interest rates to dampen eco-
nomic growth - and that Greenspan
could set the stage for that change
during his congressional appearance.
"There's a widespread opinion on
Wall Street that the Fed will have to
tighten at some point, perhaps soon,"
said Bruce Steinberg, an economist at
Merrill Lynch in New York. "If the
Fed actually wants to do that,
Greenspan is going to have to start
explaining why."
That is certainly an explanation
the Clinton administration would like
to hear. The administration has made
low interest rates the centerpiece of
its economic program and sees no
reason that with inflation remaining
low, that situation has to change soon.
When the government reported
Friday that the overall economy, as
measured by the gross domestic prod-
uct, expanded at a six-year high of 5.9
percent from October through De-
cember, the administration was quick
to point out that one-third of that
growth came from special factors.
It noted that very strong auto pro-
duction and a rebound from the Mid-
west flood had together added about 2
percentage points to GDP growth.
Officials said they still believed that
the economy in 1994 would grow at a
steady, but much slower pace, of
around 3 percent, very close to the 2.9
percent growth turned in for all of
1993.
And administration officials took
pains to point out that the fourth quar-
ter growth spurt was accompanied by
inflation increasing at its second-slow-
est pace in 26 years.

Arafat sa y s
accord liely
ona aza Strip

AP PHOTO

* Israeli and PLO
negiotiators clear
oajor hurdeis, with
size of Jericho the
only remaining issue
DAVOS, Switzerland (AP)-- Is-
rael and the Palestine Liberation Or-
ganization will reach a final agree-
ment "very soon" for Israeli with-
drawal from the Gaza Strip and Jeri-
cho, PLO leader Yasser Arafat said
yesterday.
Israeli Foreign Minister Shimon
Peres stopped short of any predic-
tions on the arduous negotiations, but
Egyptian Foreign Minister Amr
Moussa told reporters that the PLO-
Israel talks had cleared all the major
hurdles.
"We would like to have a compre-
hensive peace," Peres told a privately
organized gathering of political and
business leaders from around the
world. "Let's, Mr. Chairman, stop the
follies of our own generation," Peres
added in a speech that steered clear of
specifics.
Peres told reporters, however, that
many differences remained to be re-
solved.
Among major issues are security
arrangements for the new Palestinian
areas that will meet Israeli demands
for keeping out terrorists while not
infringing on the Palestinian sense of
sovereignty.
Moussa, who has been actively
involved in the negotiations here,
joined Arafat in taking an upbeat view
of prospects. He announced that he
expected both sides in Cairo soon to
sign their accord, which he said was
almost final.

Later he told reporters the signing
would be within 10 days.
"This really is the final stage," he
said, adding that all the major issues
had been resolved and only some "fi-
nessing" remained. The issue of secu-
rity was resolved by an agreement
that would keep Israeli agents from
being visible, Moussa said, appar-
ently referring to suggestions that they
would be behind one-way mirrors.
Israel Radio cited Egyptian
sources as saying the only remaining
issue was the size of Jericho, and that
there would be joint Israeli-Palestin-
ian patrols in Gaza, apparently refer-
ring to securing roads to Jewish settle-
ments.
After both sides reported a good
start Saturday night and possible
agreement by midday yesterday, the
Israelis started emphasizing the many
areas of disagreement that must be
addressed before Israel will agree to
pull its troops out of the areas to be
ceded to the Palestinians.
"We are on our way to bypass all
the ob stacles which had been raised
in the last weeks ... to have very soon,
very soon the final agreement to start
directly the implementation of the
peace agreements," Arafat told the
forum.
"We are still working," Peres told
reporters.
Both leaders told the businesslead-
ers of the need for investment in the
Middle East to build a stable economy
that will enable peace to endure. Arafat
said the Palestinian areas would have
a free-market economy, and a U.S.
official noted that Washington was
inviting business leaders to a discus-
sion Feb. 7-8 to piromote investment
in the Middle East.

Peter Ktamka, a 1990 University graduate and modern perfume baron, poses next to an assortment of his products.
U alum turns team loyalties into big business

B RANDY LEBOWITZ
DAILY STAFF REPORTER
Some time ago, Peter Klamka
walked past a perfume counter in a
department store when an idea popped
into his head.
"Wouldn't it be cool to put the
Michigan logo on a fragrance?"
Klamka, a 1990 University gradu-
ate, said he never imagined that his
thought would sell almost 100,000
bottles of perfume a year.
"Had I not gone to Michigan, I
probably would not have conceived
of the product," he said.
Currently, Klamka's company,
"Wilshire Fragrance," is marketing
colognes for 14 universities, includ-
ing Michigan. Each school has a dif-
ferent fragrance named after its sports
teams. "Victors," the Michigan scent,
is the only title not named after a team
mascot.
Ann Marie Frank, manager of the
M-Den in Yost Ice Arena, said people
often jokingly ask if the "Victors"
scent smells like a locker room.
But Klamka described the Michi-
gan scent as "light, citrusy, contem-
porary."
To ensure that each school's prod-

uct is unique, Klamka said his com-
pany must vary the scent, its intensity
and the ratio of oil to alcohol in the
product.
And while the colognes are not
targeted at a specific consumer,
Klamka asserted that teenage boys
are his largest customers.
"They come to the (perfume)
counter and see so many choices that
they don't know what the connotation
is. They are already wearing the
Michigan trademarks on hats - it's a
safe choice," he said.
After teenage boys, university al-
ums are Klamka's largest group of
consumers.
"It's mostly for the big football
fans that come in and have everything
a fan could want, and they top it off by
spraying on some cologne," Frank
said.
But even at $24 in campus and
department stores, Klamka said "Vic-
tors" is not his best seller.
'Seminole' is the top-selling per-
fume. It's because of the success of
the Florida State football team," he
said. "You'll see schools not doing
well and it will definitely affect sales."
And while the men's colognes are

keeping him busy, he is preparing to
introduce his first university scent for
women dedicated to his alma mater.-
"Around the Mother's Day, gradu-
ation season I'll have the women's
version of the 'Victors' product," he
said. Klamka added that it will have a
floral undertone.
Klamka said his company hasn't
had to advertise as much as he had
originally anticipated. He thanked
"word of mouth" for that.
Recently, Klamka has been ap-
proached by various other companies
to manufacture scents named after
their product line. He said General
Motors has contracted him to create
scents for their sports car trademarks.
The new scent for men and women,
"Camaro," will be released to
Chevrolet Dealers on May 1. Cur-
rently, Klamka is working on a fra-
grance for the Corvette.
Klamka said he has even been
asked by the marketing people of the
Rush Limbaugh talk show, to create a
scent for Rush fans named "The Right
Scent."
But with no pun intended, Klamka
commented, "I'm not rushing into
that."
Bills lose
No. 4,30-13
ATLANTA (AP) -The Dal-
las Cowboys are champions again
and the Buffalo Bills are the kings
of the Super Bowl flop.
The Cowboys and the Bills both
made Super Bowl history yester-

Pots scramble. for
Ford's House seat

LANSING (AP) - There's noth-
ing like an open seat -- especially one
at the federal level -to trigger a
political chain reaction.
One incumbent's decision to re-
tire or seek another office can send
political careers spinning in different
directions all the way down the line.
For instance, U.S. Sen. Donald
Riegle's Sept. 28 announcement that
he wouldn't seek a fourth term
prompted U.S. Rep. Bob Carr to think
about a Senate bid.
Former Gov. James Blanchard,
now the U.S. ambassador to Canada,
was doing the same thing. That led
Carr (D-East Lansing) to put his Sen-
ate exploration in low gear.
Then Blanchard reluctantly de-
cided last week that he couldn't leave
his ambassadorship after only five
months, even though he would have
become the front-runner for the Demo-
cratic nomination.
So now Carr has revved up his
e'fforts tofind ut if he can ge tnough

fir" 7 $ ri s's...
. ' ,.
_ _

SAPAC to search for volunteers

U.S. Senator from Michigan
* State Sen. Lana Pollack (D)
® U.S. Rep. Bob Carr (D)
* Prosecutor Carl Marlinga (D)
2 Ex-U.S. Rep. Bill Brodhead
13th Congressional District
* Rep. Dianne Byrum (D)
8th Congressional District
* Dick Chrysler (R)
* Jon Schall (R)
Stabenow (D-Lansing) means her dis-
trict won't have an incumbent run-
ning this year.
That had state Rep. Dianne Byrum
(D-Holt) looking at running for
Stabenow's seat instead of seeking
her third House term. But she said
Friday that she's now exploring a
TS m me rarpirae n

* By JUDITH KAFKA
DAILY STAFF REPORTER
In a yearly call for volunteers,
SAPAC members will be visiting over
60 groups and classes next month to
inform students about their volunteer
programs.
The Universitv's Sexual Assualt

"Ideally we'd like to get as many
people as are qualified," said Emberly
Cross, SAPAC's phone-line coordi-
nator.
Being a qualified volunteer at
SAPAC, however, means more than
merely expressing interest. Because
the center deals with sensitive and

women.
Volunteers accepted into the pro-
gram participate in extensive training
sessions before they begin taking calls.
The peer education program also
requires training. Volunteers in this
program work in pairs -usually one
male and one female - within the

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