NATION/WORLD
The Michigan Daily - Monday, October 5, 1998 - 7A
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es
aim to
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PRISTINA, Yugoslavia (AP) -
Serbian authorities, in their latest
effort to head off NATO missiles and
bombs, installed an interim govern-
ment in Kosovo on Saturday aimed at
"normalizing conditions" in the rebel-
lious province.
Zoran Andjelkovic, the man
appointed by the Serbian Parliament
to head the 18-member Interim
Executive Council, told the new mem-
bers at their first session in the
Kosovo Parliament building: "We
have to defeat the terrorists and work
for the benefit of all our citizens."
Terrorist is a term the Serbs often
have used to describe rebels of the
Kosovo Liberation Army, which has
been fighting for independence in the
majority ethnic Albanian province in
Serbia. Serbia is the dominant of two
remaining Yugoslav republics.
Meanwhile, the Yugoslav air
defense has been placed on the high-
est state of alert to counter possible
NATO airstrikes, said a Yugoslav
army commander who spoke Saturday
on condition of anonymity.
Constituting the new council was
part of a last-ditch effort to show that
Serbs intend to end the conflict and
came just two days before a report by
U.N. chief Kofi Annan on whether
Belgrade is complying with demands
to halt its assault on ethnic Albanians.
If not, Washington has indicated
NATO airstrikes will happen within
two weeks.
Late Friday, the Yugoslav govern-
ment called a special session of the
federal parliament for today to discuss
how to "protect the international posi-
tion and state interests" of the country.
Like other Serb moves in recent
days, including a pullback of troops
and equipment in Kosovo as well as a
STOCKS
Continued from Page A
changes in the University's stocks.
"When the stock market shows volatil-
ity, our portfolio will show a similar
amount of volatility," Herbert said. "But
hopefully not as great as in the (stock)
stock market."
Herbert said the University does not
receive daily market information, and
in some cases it may only receive
reports of its investment status on a
quarterly basis.
"I don't know what tomorrow
brings," Herbert said. "Hopefully we
have designed a portfolio to provide for
the long-term needs of the institution."
Herbert explained that the plunge in
the stock exchange was something that
happens day to day, while the
University is interested in what happens
on a yearly basis.
"What the stock market is experienc-
ing may be a short period of hiccups,"
Herbert said. "Our hope is, in the long-
term (the University) will enjoy the
same level of purchasing power we've
enjoyed in the past."
Business associate Prof. James Hines
said the sudden changes in the market
should not be of large concern to the
University.
"When the market is up, that's good;
when the market is down, that's bad,"
Hines said. "But U of M doesn't need to
worry. Short term ups and downs
shouldn't affect us."
Hines added that a diversified portfo-
lio is the "right strategy for the
University to pursue" because it "puts
funds in ... hundreds of places instead
of a handful" and allows for a signifi-
cant amount to be invested in stocks -
an investment Hines said is the best
option.
"You just about can't do anything
better with your money than put it in
stocks," Hines said. "Returns are high-
er. You cannot find a five-year period in
the 20th Century when an investor
wouldn't do better in stocks - even
during the Great Depression."
Hines added that although the
University may have lost minimal
money with the drop of the market, it
no doubt "made a mint" last year when
the market was exceptionally strong.
Finance associate Prof, M.P.
Narayanan said the past three years
have shown stock gains in the 30 per-
cent range - a dramatic increase from
the 12-percent yearly gain average.
"You have good years and you have
bad years," Narayanan said. "In the
short term, what happens is anybody's
guess."
Narayanan said diversification is like
"putting all the eggs in a 'few baskets."
"It's safer to be diversified and not
depend on the fluctuation of a few
stocks," Narayanan said.
Narayanan added that the
University should expect some downs
in its investments and should not be
alarmed because the economy "goes
in cycles."
Hines said minimal loss should not
be a concern to the University.
"The fact that you sometimes lose
money doesn't mean you're doing the
wrong thing, Hines said. "In fact if you
never lost, it probably means you're not
investing properly."
AP PHOTO
An unidentified ethnic Albanian villager looks down a devastated street in the village of Sibovac, outside of Kosovo on
Saturday. The village was attacked and burned by Serb police and army forces last week.
series of diplomatic efforts, the latest
drew skepticism.
Edita Tahiri, a top ethnic Albanian
political leader, condemned the estab-
lishment of the council as "strength-
ening Serbian rule in Kosovo."
"The act ... is a serious impediment
for any success in a negotiating
process," she said.
Andjelkovic appointed seven Serbs,
five Albanians and the rest Turks and
Muslims. He said he consulted no
political parties in the process.
"Our task is to normalize condi-
tions as soon as possible and create
conditions for local elections in
Kosovo," Andjelkovic told the new
council, gathered round a long, pol-
ished table. "I hope we will not last for
a very long time, because that means
we will be successful."
The Serbs' efforts to eliminate the
separatist Kosovo Liberation Army in
the Serbian province, which is 90 per-
cent ethnic Albanian, has killed hun-
dreds of people and driven an estimat-
ed 275,000 from their homes.
Momentum for international lead-
ers to step in has increased in the past
week amid revelations of massacres of
ethnic Albanian civilians in the forests
of Kosovo.
After a session of the Yugoslav gov-
ernment in Belgrade on Friday, offi-
cials issued a statement saying the
fighting had ended and blaming con-
tinuing violence on ethnic Albanian
rebels.
The province was reported mostly
quiet, though there were continuing
scattered reports of gunfire exchanges
between Serb forces and ethnic
Albanian militants, and police and
military forces could still be seen in
various parts of the province.
Serb police took reporters to the site
of what they thought was a mass grave
on a mountaintop near the village of
Volujak, about 40 miles west of
Kosovo's capital, Pristina. Dogs, they
said, had unearthed some human
bones in an area formerly held by the
Kosovo Liberation Army.
Police dug up parts of four skele-
tons and said from the smell they sus-
pected there were more, but there was
no way to identify the remains or
determine their ethnicity and cause of
death without closer forensic investi-
gation.
CRISIS
Continued from Page 1A
worded document.
Hans Tietmeyer, president of the
German central bank, rejected out-
right suggestions that Germany, as
Europe's largest economy, should
reduce interest rates to ward off the
adverse effects of the Asian and
Russian turmoil.
Eddie George, head of the Bank of
England, was less blunt but stressed
that slower global growth "can't be
the only factor" that British mone-
tary authorities consider when they
meet Wednesday to decide whether
to lower rates.
On the policy front, Britain is
pushing proposals last month from
Prime Minister Tony Blair for a par-
tial merger of the financial regula-
tion roles of the IMF and the World
Bank, while France is promoting an
idea opposed by the United States to
give the IMF's interim committee a
more permanent role in crisis man-
agement.
Treasury Secretary Robert Rubin
told his colleagues yesterday that con-
tinued support in developing countries
for the free market system, which has
meant so much to the growth of the
world economy in recent decades,
could hang in the balance.
"The global economy cannot con-
tinue to thrive with the kinds of vast
and systemic disruptions that have
occurred over the last year,"Rubin
said in remarks to the IMF's policy-
setting interim committee.
Clinton, who has made two major
speeches in recent weeks on the-
global financial crisis, will partici-
pate personally today in a 22-nation
conference on the problem.
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who violate ITD rules.
"We want to keep these directories
public, but there is danger with making
them public," Griffiths said.
A third potential policy, titled
"Advertising, Acknowledgments and
Endorsements," would target people who
use e-mail groups for commercial pur-
poses.
Griffiths said an Internet service
provider recently has sold former
Michigan football coach Bo
Schembechler's book to students via
e-mail groups. Prior to the
Michigan-Michigan State football
game on Sept. 26, University e-mail
groups also were used to sell scalped
tickets.
"This is highly illegal," Griffiths
said.
As Election Day draws near, the ITD
office expects users will send unautho-
rized political endorsements via e-mail
groups, Griffiths said.
Dealing with all of these recent prob-
lems, Griffiths said, ITD had not
received complaints about Harper's
message as of Friday.
In multiple requests to be taken off
the u.structural.transition group, many
respondents used profane language.
"You have to be careful in what you
say in e-mail messages; Griffiths said.
Issues of libel and defamation have
arisen in relation to e-mail and its status
as public information.
"There are some interesting freedom
of speech issues here" Griffiths said.
"Don't put anything in an e-mail that
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GATHERING
Continued from Page 1A
Bingenheimer, co-chair for the
Queer Public Health Alliance Against
Bigotry, said his group often feels iso-
lated because they are a graduate
group. He attended the event as a way
to gain awareness about the difficulties
other groups face.
"We don't know what the issues are
or what changes groups want,"
Bingenheimer said. "It's always impor-
tant to know what's going on, see what
areas they want to work on, what
resources they draw from and what
experience they have."
Other students hoped "The
Gathering" would be a springboard for
co-sponsoring dances, speeches and
story-telling events.
Summer Del Prete, executive board
member for Mixed Initiative - a student
group dedicated to the social well-being
of racially mixed, cross-cultural or tran-
sracially adopted students - said she
wanted to meet other group leaders so
they could plan events together.
"Co-sponsoring events attracts more
people. Minority events, even though
everyone is welcome, attract the same
crowd. Co-sponsoring increases the
diversity," said Del Prete, an LSA
sophomore.
Del Prete said "The Gathering" pre-
sents a starting point for organizing
these type of events.
"Now I know (group representatives)
and I can say 'hi' to him or her. Once
you know them it is a lot easier to plan;'
Del Prete said.
Jessica Curtin, a member of the
Coalition to Defend Affirmative Action
By Any Means Necessary, said she
wanted to attend "The Gathering" to
gain support for her group which in
turn could help all groups.
"This year is crucially important to the
defense of affirmative action," said
Curtin in reference to two lawsuits that
target the University's use of affirmative
action in the admissions process. "If
affirmative action doesn't exist, these
groups aren't going to exist or are going
to be shells of what they are now."
Nursing junior Margarita Banda, a
representative for Alianza, said she
learned a lot from other groups but had
hoped for a larger turn out. She said she
hopes there will be other opportunities
for forums like "The Gathering" in the
future.
"It would be beneficial to have these
every semester. A lot of groups are still
planning their second semester events,"
Banda said.
Andrich said he was pleased with the
event and hopes it will result in action.
"It's a good sign that people are still
here shaking hands and exchanging
phone numbers," Andrich said.
Andrich said MAC plans to have
"The Gathering" again, maybe as early
as next semester.
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