100%

Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Download this Issue

Share

Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

This collection, digitized in collaboration with the Michigan Daily and the Board for Student Publications, contains materials that are protected by copyright law. Access to these materials is provided for non-profit educational and research purposes. If you use an item from this collection, it is your responsibility to consider the work's copyright status and obtain any required permission.

October 14, 1999 - Image 9

Resource type:
Text
Publication:
The Michigan Daily, 1999-10-14

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

The Michigan Daily - Thursday, October 14. 1999 - 9A

U.S., Columbian authorities
bust up cocaine consortium

Dow Jones Industrial Average, NASDAQa nd
S&P 500 Composite for Wk 10/641 Q13

DJIA Close
10/7 10,537.05
10/8 10,649.76
10/11 10,648.18
10/12 10,417.06.
10/13 10,232.16

Change
-51.29
+112.71
-1.58
-231.12
-184.90

NASDAQ Close
2,860.70
2,886.57
2,916.05
21872.43
2,801.27

Change
+3.49
+25.87
+29.48
-43.52
71.16

S&P Close
1,317.64
1,336.02
1,335.21
1,313.04
1,285.55

Change
-7.76
+18.38
-0.81
-22.17
27.49

<a '

LsAges times
WA\SIIINGTON - .S. and Colombian authorities
hauled into custody yesterday "a who's who of drug traf-
tikers operating in Colombia," busting up a powerful
consortium blamed for flooding the streets of the United
States with as much as S60 billion worth of cocaine a
year.
Among 30 alleged traffickers who were indicted in Miami
and arrested in the predawn hours in Colombia were
Alejandro Bernal-Madrigal, the reputed boss of one of the
world's biggest cocaine distribution rings, and Fabio Ochoa,
once a leader of the now-defunct Medellin cartel.
Bernal-Madrigal is thought to be the mastermind behind a
sophisticated network that has exported unprecedented levels
of coc iine - as much as 30 tons a month - into the United
States via his extensive Mexican contacts, U.S. officials said
in announcing his arrest.,
Known as "Juvenal," or "the youngster," the 40-year-old

Bernal-Madrigal was taken into custody in Bogota .
Ochoa, a friend and mentor to Bernal-Madrigal, was
arrested separately at his ranch in Medellin. Witnesses said he
appeared pale and frightened, declaring: "I am innocent, I
swear it on my children."
Officials in Washington and Bogota hailed the bust as the
most dramatic example to date oftheir redoubled cooperation
in the drug war, and they promised to seek the suspects' swift
extradition to the United States for prosecution on drug con-
spiracy charges.
"All of them are extraditable, all of them," National Police
Commander Rosso Jose Serrano told reporters at a news con-
ference in Bogota.
The arrests come at a time when U.S. officials have
become increasingly worried about a recent explosion of
cocaine cultivation in Colombia, which produces about 70
percent of the cocaine consumed in the United States and a
growing share of the heroin.

Highlights from the week: The past two days have reflected another worrisome stock market concerning
the Federal Reserve's position in U.S. interest rates. The market is anxiously awaiting the release of the gov-
ernment's data on retail sales, wholesale prices, and consumer prices due this week. The technology sector,
received a big hit yesterday as Intel, a major chip producer, reported earnings less than analysts' expecta-
tions and their low numbers gave investors reason to bail out of tech stocks. Another factor that has push-
ing stocks downward is the increase in the bond yield over the past week. As the yield moves upward,
investors begin to pull their money out of the stock market and buy bonds because they are guaranteed a
set percentage return on their investment.
What is the Dow Jones Industrial Average? The DJIA represents 30 stocks traded on the New York Stock
Exchange (NYSE) and are all major factors in their respective industries. These stocks are widely held by
individuals and institutional investors. Many financial advisers think of it as a good indicator in telling
whether the NYSE is doing well or poorly.
What is the NASDAO Composite? The NASDAQ is the fastest growing stock market in the U.S. due to
it being a screen-based stock market, compared to a trading floor market like the NYSE. It also has almost~
all of the technological stocks available for trading, which has proved to be a very volatile industry in th-
last few years.
What is the S&P 500? The S&P 500 is a market value weighted index composed of 400 industri-
al stocks, 20 transportation, 40 financial, and 40 utility. It is a far broader measure than the DJIA
because it takes into account 500 different stocks traded on the two main exchanges (NYSV and
NASDAQ-AMEX) compared to the DJIA's 30 all traded on the NYSE.
- Compiled by Daily Staff Reporter Kevin Magnusonfrom wire reports.

CHOP
Continued from Page 1A
"I think it's important that we have
our own traditions," he said, adding that
"it helps identify us as a unique student
body."
Other Michigan band traditions
include playing the Hawaiian War
Chant and "Hail to the Victors," enter-
ing through the tunnel in line forma-
tion, and the goalpost toss - when the
drum major tosses his baton through
the goalpost. If he succeeds in throwing
it through the bars of the goalpost, it's a
sign that Michigan will win the game,
Whitmore said.
"The one tradition that Michigan has
made famous is the wave. We weren't
the first school to do this, but we made

it famous," Madej said. The wave first
appeared in Michigan Stadium in 1983.
"It spread like wildfire" to stadiums
across the country, including profes-
sional arenas such as Tiger Stadium,
Madej said. The spread of the wave
sparked speculation that the simultane-
ous movement of hundreds of fans
would cause the stadium to collapse,
but this has proved groundless.
Penn State University sophomore
Mike Fazio said Nittany Lion fans do
the wave "all the time." Other traditions
at Penn State include screaming "We
are Penn State" cheer and the "Hey
Song" prior to kick-off, Fazio said.
Michigan State University fans also
do the wave during games, as well as
the crew row - where fans in a section
shift their body backwards and for-

wards imitating the motion of rowing a
boat said MSU senior Ryan Bladzik.
Both Michigan and MSU spectators
wave their hats in a circular motion at
kick-off and jangle their keys to pump
up the defense, he said.
Key jangling is beginning to catch on
at other schools, like the University of
Tennessee. "The first time I noticed it
was this past game against Georgia,"
said University of Tennessee first-year
student Randy Bird. Tennessee fans
also do the wave occasionally during
games and shake pom-pons at kick-off.
Bird said "the loudest moment in the
stadium" is at the beginning of the
game, when the band creates the
"Power T" formation. The band then
marches apart, allowing the team to run
through the "Power T."

LIBERTARIANS
Continued from Page 1A
Through his involvement in these organizations, Hieftje
said he "gets a better handle on the development going on
around us," adding that if elected he hopes to work on issues
concerning traffic, the environment, increased development
and watershed problems.
Quinnan stressed the importance of student representation
on city council and added that his campaign proposals would
benefit all Ann Arbor residents.
Students running for public office is not a new trend. LSA
senior Jeff Irwin will be running in the Nov. 2 election for the

Washtenaw County Commissioner's Office. Irwin is running on
the Democratic ticket after winning the Augustprimary.
Students do need representation in county and city govern
ment, Irwin said. "I appreciate the fact that they're running,
he said, referring to the two Libertarian students. But Irwin
added that he will not be voting for them because "I simply
do not agree with them."
Goodman said one-third of Ann Arbor's population during
the year is students and they need to be heard.
Quinnan said Libertarians believe in maximizing liberty in
the economic, social and political arenas.
All candidates are campaigning throughout their wards by
traveling door-to-door and distributing campaign literature.

C OURT,
Continued from Page 1A
other hand, that the 15th Amendment unequivocally prohibits
discrimination on the basis of race in elections and the 14th
Amendment guarantees citizens of different races equal pro-
Otection of the laws.
"This is a very clear cut violation of the 15th Amendment,"
said Douglas Cox, a Washington, D.C., attorney who repre-
sents Rice. He said the case will likely be decided narrowly,
as a voting rights violation rather than as an equal protection
issue.
But he suggested that President Clinton's Justice
Department, which is supporting Hawaii in the case, might see
this as an equal protection issue as well. Cox said the adminis-
tration might be positioning itself to support government
grants of racial preference in other contexts, such as affirma-
*ive action.
The other case, Board of Regents v. Southworth, began
when five students went to court contesting the 5330 student
activity fee at the University of Wisconsin at Madison.
The students objected to funding 18 organizations, includ-
ing the Lesbian, Gay, Bisexual Campus Center, the
International Socialist Organization and Amnesty
International.

Federal district and appeals courts sided with the students,
striking down the fee system as unconstitutional on the
grounds that the state, bound by the First Amendment, cannot
compel students to support viewpoints contrary to theirs.
"What's at stake here is whether students can be forced to
subsidize political speech they find objectionable," said Todd
Gaziano, a legal scholar at the conservative Heritage
Foundation in Washington, DC.
"The clear answer is that they can't be by the state,"
Gaziano said, calling some of the groups students had object-
ed to "crazy" and "outrageous." He has advised the lawyer
representing the students in the case.
If the Supreme Court strikes down the Wisconsin fee, most
state universities nationwide would have to adjust their fee
systems to pass constitutional muster. One possible solution
would be to let objecting students withdraw the portion of
their dues that goes toward "objectionable" groups.
But MSA President Bram Elias said the University's stu-
dent activity fee of S5.69 per term is not in immediate danger
of extinction, even in light of the Wisconsin case.
"We make every effort to represent everyone," Elias
said. He noted that the University allows students to
voice their opposition to the assembly's funding of cer-
tain groups, which he said eliminates the need for a par-
tial fee reimbursement.

POSTERS
Continued from Page 1A
Director of LGBT Affairs E. Frederic
Dennis said he was "shocked and sad-
dened that this type of hate exists in this
community."
Dennis said the week's events have
not been dampened by the appearance
of the posters. "We're not allowing our
celebration to be marred by hate mon-
gers" he said.
Alice Lloyd Residence Hall Director
Jonah Burakowski said "the mood in
the hall is fine. There are a lot of ques-
tions, but we're trying to move on."
Levy said campus activities planned
for National Coming Out Week have,
and will continue to, proceed as sched-
uled. Those events, he said, create

opportunities to have the open dialogue
needed to discuss varying emotions
surrounding the topic.
"We value every member of our
community and the contributions they
make to the University," Cantor said.
Women's
Basketball
Walk-On Tryouts
Tuesday, October 19
7:00pm @ Crisler
Bring proof of physical

fee TipshI cash!!!
Spring Break 2000
StudentCi t.com is look-
n for Highly Motivated
tudents to promote
Spring Break 2000!
Organize a small group and
travel FREE!!!
Top campus reps can earn
Free Trip & over $10,000!
Choose:
Cancun, Jamaica or Nassau!
Book Trips On-Line Log-In
and Win Free Stuff.
www.StudentCity.com
or
1-800-293-1443

rsa: _ .. +

The Green Hornet Radio Show
2 songs off our new album
50 minutes of Confucionisrn
Your Site for Digital Audio,

Back to Top

© 2020 Regents of the University of Michigan