News: 76-DA
Display Ads:
Classified Ad
WASHIN
out yesterda3
rich allies ev
action plan f
ic crisis that
world into re
The disal
*hat despite
effort to pr
markets, th(
disagree stri
be doing to
The admit
agreements
U.S. leaders]
dollar bailot
threatened 1
ull their me
Brazilian
expressed sa
negotiations
words of sup
It was exj
emergency
Sr
ca
tr(
UI
i
One hundred eight years ofed:torlfreedorn
ILY
764-0554
Is. 764-0557
Monday
October 5,1998
. . .#. .. a .,
I
.., allies debate economic woes
k
y
tI
(c
9
r1
n
a
>h
,i
bI
0
GTON (AP) - Bickering broke
y between the United States and its
en before the ink was dry on their
or combating a widening econom-
has already pushed a third of the
cession.
greements underscored the fact
a major Clinton administration
oject unity and calm turbulent
e world's economic powers still
ongly over just what they should
restore stability.
nistration still played down the dis-
and pushed ahead to demonstrate
hip by assembling a multibillion-
t plan for Brazil, the latest country
y panicked investors seeking to
ney out.
Finance Minister Pedro Malan
tisfaction over progress of the loan
yesterday, saying "I take heart in the
>ort" expressed by the United States.
pected that perhaps a $30 billion
credit line for Brazil could be
af l R
announced soon after results of yesterday's
presidential elections are known.
While accepting the need for a Brazilian
support package, the world's seven largest
economies were in major disagreement over
proper policies to follow in their own borders.
British and German monetary officials
resisted pressures to follow the lead of the
Federal Reserve in cutting interest rates to spur
growth and make sure that a slowdown in
Europe doesn't add further drag to an already
weakened global economy.
More than $100 billion in IMF bailout
packages have been put together since the
start of the Asian crisis. They provided help
only after a country's economy was decimat-
ed and its resources depleted by investors
seeking to flee.
The currency crises started in Thailand 15
months ago, then struck Indonesia and South
Korea. In August, similar conditions triggered a
free fall of the Russian economy, and that raised
anxieties that Latin America will be next.
But several nations said yesterday the U.S.
proposal would be dead on arrival unless the
United States provides $18 billion to replenish
depleted IMF resources before Congress'
scheduled adjournment this week.
British Chancellor of the Exchequer Gordon
Brown told reporters the Group of Seven
nations had agreed only to explore the
Americans' quick-response proposal. He said a
new "IMF facility is dependent on the IMF
having the funds, and that is dependent on
House approval"of the $18 billion.
All the wrangling was over a five-page
communique the world's seven richest coun-
tries --the United States, Japan, Germany,
France, Britain, Canada and Italy - issued
Saturday night. The aim for the document is
to serve as a blueprint for discussions in the
next five days at the annual meetings of the
182-nation IMF and its sister lending agency,
the World Bank.
But finance officials let it be known yester-
day that each country has its own interpreta-
tions of just what was meant by the vaguely
See CRISIS, Page 7A
Crisis not likely to
affect
' investments
By Erin Holmes
Daily Staff Reporter
Although recent fluctuations in the U.S. stock
market ate into the endowments of several
major colleges across the nation, the University
probably won't suffer such great losses.
University Associate Vice President and
Treasurer Norman Herbert said the reason the
campus can remain calm is the broad range of
the University's investments.
"We're not invested in stocks alone," Herbert
said. "Our portfolio is very diversified."
Last week, Stanford University reported a 10-
percent value loss in its endowment, resulting
from the market instability. Harvard University
and Princeton University also reported suffering
a 7-10 percent loss.
Exact figures are not certain, Herbert said, but
the University has about 30 percent of its invest-
ments in U.S. stocks and 20 percent in interna-
tional stocks. The remaining 50 percent is invest-
ed in bonds, real estate and private equity.
These numbers, Herbert said, are "not unusu-
al" overall when compared with other colleges
and universities in the United States.
Although these numbers show diversification
of investment, Herbert said there will be some
See STOCKS, Page 7A
econstructing history
use
)uble
Impeachment at
issue as Clinton
hearings begin
I
By Michael Grass
or the Daily
Spain - it's not just a processed
lunch meat anymore.
During the past few weeks, many
University student e-mail in-boxes
have been flooded, or spammed, with
hundreds of e-mail messages.
"I estimate that I received about 400
e-mail messages in the last spam' LSA
senior Erica Major said. "I am irritated
about the whole thing"
Dean of Students E. Royster Harper
gent an e-mail message Sept. 29 about
changes in her office via an e-mail
group named u.structural.transition.
The group has since been dismantled,
and officials could not estimate how
many students received the message.
Several of those who received the
message responded to it asking to be
removed from the u.structural.tmnsition
list. But many respondents replied to all
the recipients and everyone on the e-mail
oup received these responses, inundat-
ing mailboxes across the system.
"Some e-mail systems reply to all as
default," said Jose-Marie Griffiths,
director of the University's Information
Technology Division.
Spamming causes major slowdowns
in the e-mail system and frustrates
many students.
"When I was done deleting them all,
I didn't want to read any of my impor-
tant mail because I was so tired of try-
Ong to figure out what was junk mail
and what wasn't;' Major said.
Harper and the creator of the e-mail
group, Adena Cytron, could not be
reached for comment.
Griffiths said ITD is dealing with
other spamming problems.
Spammed messages that originated
outside the University system have
caused ITD serious problems, Griffiths
said.
0 Armed with new filtering software,
the University's computer system now
can automatically reject external
spams. ITD currently is working to
stop internal spamming.
Griffiths said she has been working
on three information policies she
believes will be approved in the next
two weeks.
The first policy would set up clearer
guidelines for mass e-mails, such as the
one Harper sent out.
I "We need to insist that we are
informed about mass e-mails"
Griffiths said, so when messages are
sent out on the University's system,
they do not create serious problems.
"These mass e-mail groups do have a
purpose," Major said. "Student organi-
zations may need to inform other
groups about programs they are doing"
There are ways users can send mass
e-mails without causing spamming
problems. For example, the group's cre-
ator can select an option on the X.500
directory to set up the list so respon-
dents can only reply to the person who
sent the first message.
The second policy would clarify the
guidelines for using University directo-
-:+®L ca ll Y1AA TfApe- nii nP..
Los Angeles Tunes
WASHINGTON - A white-maned
Republican member of Congress from
suburban Chicago sitting in a high-
backed chair will raise a wooden gavel
this morning and pound the House
Judiciary Committee into session.
Nothing less than the fate of a
besieged president will be at stake.
Chairperson Henry Hyde, who said
yesterday he hopes to have his commit-
tee's impeachment hearings completed
by New Year's Day, will lead a debate
over a single, central question: Should a
formal inquiry be opened into whether
President Clinton, zealous to cover up his
could rely on her sworn testimony before
the grand jury earlier this year.
To Hyde's left will sit Rep. John
Conyers (D-Detroit), a dapper, soft-spo-
ken congress member with slicked-back
hair and a determination to see that
Clinton is treated fairly and with the
respect befitting his office. The senior
Democrat on the Judiciary Committee,
Conyers suggested yesterday that the
panel complete its investigation by
Thanksgiving.
More important, Conyers hopes to
direct the spotlight away from the presi-
dent and instead upon Clinton's detrac-
sexual escapades with
Monica Lewinsky, commit-
ted perjury and obstructed
justice.
If first his committee
and then the full House
answer that question affir-
matively, as both are
expected to do this week,
Hyde said yesterday that
he hopes his committee
am hs
tors, most notably House
Speaker Newt Gingrich (R-
Ga.), and independent coun-
sel Kenneth Starr.
Conyers said he would
rather call Starr than
Lewinsky to testify to the
committee. Appearing on the
same program as Hyde,
Conyers said: "Kenneth Starr
has more explaining to do
could complete its investigation by
New Year's Day. As stipulated by the
Constitution, a vote by the House to
impeach Clinton for "high crimes and
misdemeanors" would leave it to the
Senate to try him.
Hyde also surprisingly announced on
NBC's "Meet the Press" yesterday that "I
don't see a need" for calling Lewinsky to
testify. Rather, he said, his committee
than any independent counsel in
American history.'
Despite their sharp political differ-
ences, Conyers and Hyde agreed that
even if the full House approves articles of
impeachment against the president, the
Senate will not be able to muster the two-
thirds majority needed to oust him from
the White House.
See CUNTON, Page 2A
ALLISON CANTER/Daily
Daniel Siomovits, 6, makes a canoe out of sticks of wood yesterday at the Matthal Botanical Gardens during the Blast From
the Past Festival, which took place this weekend to celebrate early U.S. history.
Parking fee increases to
createprigspaces
By Carrie Solomon
For the Daily
Although parking may seem to be a relentless
hassle in Ann Arbor, the increased rate charged by
parking meters and higher parking fines will even-
tually enable the Ann Arbor City Council to provide
more spaces and better features for city parking.
The Parking Rate and Fine Increase Proposal,
passed by the Ann Arbor City Council last semester,
went into effect this past July.
Not only did the cost per hour o ,p
park at a metered spot increase
from 60 to 80 cents, but the ensu- Fine
ing fine for an expired meter also mee
rose. The new fine is $5 if paid in $10
person by 5 p.m. the next business Numb
day, $10 within 14 days and $15 ticke
dollars after 14 days. year:
The former fine for an expired
meter was $3 if paid within an
hour, $5 if paid within 14 days and $15 if paid after
14 days. The expired meter fine was intentionally
increased in conjunction with the increase in meter
rates, said Michael Scott, manager of Ann Arbor's
Parking and Street Maintenance Department.
"We have to be more punitive so that people will
not just take a ticket over the parking meter rates;"
Scott said.
The council also approved increases for 42 subse-
nant rMc for narking violatinns "Acros the
Past trends point to an increasing amount of funds
available from parking tickets. During the past fiscal
year, which ended June 30, 198,876 parking tickets
were issued in Ann Arbor, Scott said. "That's more
than (the previous) year. That breaks down to about
50-60 tickets per officer, per day," he said.
If the trend continues, not only will the general
fund increase, but more revenues will be available to
improving parking.
for expired
paid by 5 p.m.
if paid in 14 days
ber of
ts issued last
198,876
"There is just not enough supply
for the demand," Sheldon said. "In
order to do permanent structure
restoration, we will need help from
the street system?'
The original 60-cent per-hour
meter revenue went to maintain
parking lots and care for meters.
But without the revenue from
parking tickets, funds are not suffi-
cient to provide expanded ser-
Rackham student Jessica Curtin, ESA sophomore Brian Babb and LSA senior IBisan Salhl discuss
assorted issues affecting the University community this year.
Student groups 'gather'
vices, Sheldon said.
Sheldon said the increase of revenue will enable
parking structures such as those located at Liberty
Street and Thompson Street and the structure on
South Forest Avenue to be rebuilt, providing more
parking and safer services. Sheldon said she would
like $20,000 from the fund to be set aside for safety
phones within the structures.
William Wheeler, public services director for Ann
Arbor, said there is no soending plan for the new
By Nika Schulte
Daily Staff Reporter
Exchanging smiles, information and contact
numbers, more than 15 University student groups
joined together for "The Gathering" on Saturday
morning in the Michigan Union Ballroom.
"The Gathering;" a forum sponsored by the
University's Minority Affairs Commission,
allowed members of ethnic and multicultural
groups to meet each other and confront issues that
tural barriers to work together"' said Shabatayah
Andrich, host of the event.
"There are good ideas that are splintered
around. This is an opportunity to do these things
by standing together," said Andrich, an LSA
junior.
After introductions, students formed small groups
to discuss impressions of other cultures, what sup-
port from other groups involves, equity among
groups and resources and the University's challenge
I