-2 - The Michigan Daily - Tuesday, February 18, 1997
Sneaker stock soars
The Washington Post
1 Nike Inc.'s trademark "swoosh" - a
jazzy checkmark with a beer belly -
might also be the sound of its stock
soaring higher than even Michael
Jordan can reach.
It has been a good decade for the ath-
letic-shoe industry, but a remarkable
one for the Beaverton, Ore.-based firm.
No sneaker company has ever estab-
tished such a dominant position -
about 45 percent of the U.S. market,
compared with about 16 percent for
No. 2 Reebok International Inc.
Thomas Buynak, a senior investment
analyst at Society Asset Management
Inc. in Cleveland, confessed that his
firm unloaded its Nike stock eight
months ago. "We sold too early" he
said. "They have just been on a tear.
You almost have to throw out the his-
torical evaluation parameters for the
Nike stock climbed 72 percent in
1996 and has risen about 13 percent so
far this year.
Reebok stock is up about 16 percent
Starr becomes Pepperdine Law dean
WASHINGTON - Independent counsel Kenneth Starr, who has overseen the
long-running Whitewater investigation, announced yesterday that he will leave his
post this summer to become dean of Pepperdine University Law School in
The news of Starr's upcoming departure was greeted happily by some in the
White House last night. They saw it as a signal that Starr's investigation has na
turned up the kind of evidence that would warrant criminal charges again
President Clinton or first lady Hillary Rodham Clinton.
"There joy in Mudville," said one official. Democratic surrogates and even the
president himself have publicly charged that they believe Starr's conservative
Republican politics bias his investigation of the Clintons.
But Starr and lawyers close to him cautioned against reading too much into his
upcoming departure. "The investigation is proceeding without interruption.
Everything is full steam ahead," Starr said in a statement issued by his deputy, John
Bates said Starr will stay on as independent counsel until sometime this summer.
On Aug. 1, he will take over as dean of the Pepperdine Law School as well
become the founding dean of the university's school of public policy. Starr also
continue some appeals court work for his law firm, Kirkland & Ellis.
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French Foreign Minister Herve de Charette welcomes Secretary of State Madeline
Albright as she arrives at the Elysees Palace to meet President Jacques Chirac.
Aibrght smoothes relations
Continued from Page 1
boring countries to steer clear of a rebel-
lion in the eastern part of the African
Only a year ago, the French were
grumbling that then-Secretary of State
Warren Christopher's trip to Africa was
an election ploy. French officials sug-
gested they had a special expertise that
CITY OF ANN ASSOR4
the United States should respect.
And in the Middle East, de Charette
complicated Christopher's drive to halt
cross-border attacks between Israel and
Lebanon by riding his own diplomatic
shuttle and advising the Arabs to hold
out for better terms.
On his last trip to Paris in November,
Christopher was presented with five
French novels by de Charette, who told
him he would have a chance to improve
his French in retirement.
While signaling along with the French
the onset of better relations, Albright
checked reports from Beijing that Deng
Xiao-ping, architect of China's economic
modernization, was near death. She said
she could not corroborate the reports.
And she monitored what she
described as very serious concern about
tensions on the Korean peninsula,
authorizing spokesman Burns to say a
resumption of food aid to North Korea
would be announced within a few days.
After delivering about $6.1 million
worth, food shipments were halted when
a North Korean submarine ventured into
South Korean waters last September,
In Seoul, South Korea authorities
said the country would send food aid
and nuclear technicians to North Korea
despite tension with its communist rival
over the shooting of one defector and a
standoff involving another.
The one apparent uneasy moment
occurred earlier in Bonn when German
Foreign Minister Klaus Kinkel hotly
rejected any suggestion the Church of
Scientology was being singled out as
Jews had been in Germany early in the
"We perceive Scientology not as a
religion but as a profit-making organi-
zation," he said. "Scientologists are not
Albright, at a joint news conference,
said it was "historically inaccurate and
totally distasteful" to draw parallels
between the Scientologists and
Germany's Nazi past. She registered the
United States' concerns during an hour-
long meeting with Kinkel.
Union wins ruling
on tapayer funds
WASHINGTON - The Federal
Labor Relations Authority has ruled
that taxpayer dollars can be used by
federal unions to lobby members of
The ruling resolved a grievance
brought by a union representative in
Memphis who contended that he
should receive his pay and not have
to use his vacation time when he
traveled here for his union's "Lobby
Week" activities, which included
meetings with members of
The FLRA upheld the decision of
an arbitrator, who said the union
representative had a right to use
"official time" under his agency
collective bargaining agreement to
lobby on such issues as federal pay
and benefits, government downsiz-
ing, health care and civil service
The ruling will likely serve as a
guide for local unions that want to step
up their lobbying activities or renegoti-
ate their agency bargaining agree-
ments. It comes at a point when official
time is under attack by some congres-
sional Republicans, who argue that
unions, not taxpayers, should pay for
Unions defend official time, noti;
that federal law requires unions to rep-
resent all employees covered by bar-
gaining agreements, not just those who
pay union dues.
RICHMOND, Va. - Not a single
discordant note was sounded yester'
as Virginia's House of Delegates voted
to retire a state song that critics say glo-
rifies slavery with words like "darkey"
The House voted 100-0 to make
"Carry Me Back to Old Virginia" the
state song emeritus. There was no
"This puts the song where it belongs
... it won't be troubling us any furthe"
said Del. Robinson Jr. (D-Norfolk).
Now taking applications for Executive Board Positions!
The Universities Activities Center is the largest student-run organization
on campus. Our goal is to provide educational and social
programming for the entire student body.
UAChas helped bring Spike Lee, Tori Amos, Dennis Miller and others
to campus. Perhaps you're familiar with UAC through performing groups
such as Impact Dance, MUSKET, of Comedy Company. UAC Executives bring
students together for events that are dynamic, powerful, and fun!
Find out how to be a part of UAC!
Pick up an application at 2105 Michigan Union,
the Pierpont Commons Information Desk
or call 763-1107 for more information.
Y: Deadline is noon, February 24,1997
:: . :.
Zare vOWS to
KINSHASA, Zaire - Government
forces bombed three rebel-held towns
in eastern Zaire yesterday and vowed to
intensify the attacks, which witnesses
said killed at least six people. It was the
sharpest escalation yet in the five.
The towns of Bukavu, Walikale and
Shabunda were bombed, said Defense
Ministry spokesperson Leon Kalima.
He gave no casualty figures but urged
civilians to leave rebel-held areas.
"These bombardments will continue
and intensify," Kalima said.
Aid workers said six people were
killed and at least 20 wounded in
"These numbers could grow," said
Brenda Barton, a spokesperson for the
U.N. World Food Program, based in
Nairobi, Kenya. "There's a panic in the
town," and many people are fleeing,
There were no immediate casualty
reports from Shabunda and Walikale,
two other towns under the control of
Laurent Kabila's Alliance of
Democratic Forces for the Liberation
of Congo-Zaire, which began fighting
Zairian troops in September. Kalg
started the war after Zaire threatened o
expel Tutsis who had lived for decades
in eastern Zaire.
North Korea ends
watch of consulate
BEIJING - Chinese police guard-
ing the South Korean consulate visibl
relaxed yesterday, joking and chatt
amiably, after North Korea indicated it
could accept the defection of the senior
official holed up inside.
North Korean agents, who had kept a
public, round-the-clock vigil outside
the consulate since Hwang Jang Yop
defected last week, withdrew yesterday.
A spokesperson at North Korea's
Foreign Ministry indicated that the
reclusive communist state had decided
to accept the defection.
- Compiled from Daily wire reports.
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