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October 28, 1999 - Image 8

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The Michigan Daily, 1999-10-28

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8A - The Michigan Daily - Thursday, October 28, 1999

Lawmakers
won't attempt to
limit Granholm
LANSING (AIP) - The day after a meeting between Gov.
John Engler and Attorney General Jennifer Granholm, key
lawmakers said yesterday they don't plan to pursue measures
that would limit the attorney general's powers.
But some left open the door to future legislation, implying
that the debate over those powers is just beginning.
"This issue is still out there, of separation of powers and
protecting the rights of people who are adversely affected by
attorney general opinions," said Rep. Andrew Richner (R-
Grosse Pointe Park), who introduced one of the bills.
"I have never said that these bills should be passed
overnight. These deserve due consideration. If it takes more
than a few weeks, a few months or a few years, so be it."
The bill introduced by Richner would make attorney gen-
eral opinions advisory. Right now, those opinions are legally
binding once they are issued.
Rep. Clark Bisbee (R-Jackson) introduced a bill that would
forbid the attorney general from suing the state. Both bills
were prompted by actions from Granholm, who said earlier
this year that she was considering arguing against the state in
a lawsuit involving casinos.
After Granholm appeared before a House committee to
defend her office against the legislation, Engler criticized
lawmakers for not speaking to her before the hearing. Memos
later showed that Engler's office for months had been
researching ways to limit attorney general powers.
The debate had a partisan tone, with some claiming
Granholm - the lone Democrat to hold statewide office
other than U.S. Sen. Carl Levin - was being unfairly
attacked by Republicans.
Although Granholm had met with members of Engler's
staff, Tuesday's meeting was the first between Granholm and
Engler since the flap began.
Granholm spokesperson Chris De Witt characterized their
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More than 200 attend Forbes speech1

FORBES
Continued from Page 1A
do is taxed."
Forbes discussed his concept for protecting Social
Security. It calls for the creation of accounts for every
worker reserved only for that individual's pension plan.
"The fruits of your labor would remain with you, not with
politicians," Forbes said. "It belongs to you and your family.
"It belongs to you. You created it. You decide what ought
to be done with it," he argued. "That's the essence of a free
society."
Healthcare would be treated similarly under Forbes' pro-
posal to allot each person a certain amount of money to be
used for medical expenses.
"Each year, healthcare costs thousands of dollars and
you seem to get less and less,"he said.
Patients would become cost-conscious, Forbes said, and
pay less for hospital care or prescriptions, with the remain-
der of the allotment becoming "money in their pocket."
"At the end of the year, if you don't spend it all, we cut
you a check," he explained.
Following Forbes' speech, Business junior Barb
Lambert said although she thought the New Economy pro-
posals sounded like good concepts, implementing them
would be easier said than done.
"I think he truly believes in what he's doing," said
Lambert, a member of the campus College Republicans. "I
don't think he's out just for power."
LSA senior Jeff Irwin, a Democratic candidate for the
Washtenaw County Board of Commissioners in next
Tuesday's elections, said the mathematics behind Forbes'
ideas wouldn't work on paper.
"You can't cut taxes across the board and run the same pro-
grams," Irwin said. "I don't know where the money's coming
from.

AP PHOTO
After Gov. John Engler met with Attorney General Jennifer
Granholm on Tuesday, legislators said they wouldn't try to
limit the powers of her position.
discussion as frank. "No one can speak for the Legislature, but
we don't expect to see any action on these bills," De Witt said.
Engler spokesperson John Truscott said the meeting was
"very good" and focused on ways to avoid future problems.
"They still have differences about the role of the attorney
general," Truscott said. "But (Engler) stressed that in the past,
close cooperation has resulted in a minimum of problems
between these two offices. By picking up the phone in the
future we can avoid these kinds of problems."
Truscott said Engler hasn't read the bills introduced by
Richner and Bisbee and hasn't made a commitment either
way on whether he would support the legislation.
That decision may not be necessary, at least for now. State
Sen. Ken Sikkema (R-Grandville) who had drafted legislation
similar to Richner's, said he also has met with Granholm and
doesn't plan to pursue the issue further in the Legislature.
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JEREMY MENCH,,
Democratic presidential candidate Steve Forbes speaks in
the Kuenzel Room of the Michigan Union yesterday.
"I think he's a quack," he added.
Though Forbes trails Bush by a large margin in the most
recent polls, he has sufficient financial resources and is
confident that his qualifications speak for themselves.
"I have more executive experience than all the other can-
didates put together," Forbes told reporters before leaving
campus.

DEBATE
Continued from Page 1A
without giving the cost "is just politi-
cally posturing"
Gore also used his opening ques-
.tion to distance himself from
President Clinton, even though the
questioner never mentioned the presi-
dent's name in asking about public
cynicism toward politics. "I under-
stand the disappointment and anger
you feel toward President Clinton and

I felt it myself," Gore said, referring to
the president's relationship with
Monica Lewinsky. "I also feel that the
American people want to move on
and turn the page and focus on the
future and not the past."
Ie defended himself against
charges that he should have spoken
out more aggressively at the time,
asserting that he was trying to provide
"continuity and stability" during a
tumultuous time.
It was a stock answer by the vice

president, but it was notable for his
eagerness to deal directly with an
issue that hangs over his candidacy.
For the most part, the hour-long
event was marked more by civility
and general agreement on wide range
of domestic issues than by disagree-
ment or rancor. The two candidates
made clear they would support a more
ambitious and costly agenda than
Clinton has advocated, and endorsed
policies that are important to the lib-
eral wing of the Democratic Party.

0

Dow Jones Industrial Average NASDAQ and
S&P 500 Composite for Week 10/20-10/27

I *~~~~~~~~ ~I . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

e

DJIA Close
10/2110,297.69
10/22 10,470.25
10/25 10,349.93
10/26 10,302.13
10/27 10,349.89

Change
-94.67
+172.56
-120.32
-47.80
+92.76

NASDAQ Close
2,801.95
2,816.50'
2,815.95
2,811.27
2,802.52

Change
+13.82
+14.57
-0.57
-4.68
-8.95

S&P Close
1,283.61
1,301.65
1,293.63
1,281.88
1,296.71

Change
-5.82
+18.04
-8.02
-11.75
+14.$0

Highlights from the week: The Dow had a late rally yesterday before the release of key economic data
due to be released this morning. The third quarter employment cost index will be very closely watched*
because it is one of Federal Reserve Chair Alan Greenspan favorite inflation measures. Most analysts
expect a 0.9 percent increase rise for the quarter. Inflation worries have driven down the Dow 10.7 percent
since its Aug. 25 record close. Future company earnings could be threatened if interest rates are raised at
the Fed's meeting next month. Company's borrowing costs then increase, making financial growth more
costly. Two popular initial public offerings were made last week as Martha Stewart Living OCmnimedia,on
the NYSE and World Wrestling Federation Entertainment Inc.,on the NASDAQ debuted.
What is the Dow Jones Industrial Average? The DIA 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 NASDAQ 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 the
last couple of 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 (NYSE and
NASDAQ-AMEX) compared to the DJIA's 30 traded on the NYSE and NASDAQ.
- Compiled by Daily Staff Reporter Kevin Magnuson from wire reports.

CINEMA BEER BELLY, VOL 4
Various Artists

COCTEAU TWINS
BBC Sessions
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CLAWFINGER
Clawfinger

The Department of Philosophy
The University of Michigan
announces
The Tanner Lectue On HumanValues
1999-00
Helen Vendler
Arthur Kingsley Porter University Professor
Harvard University
Whitman on Lincoln: Aspects of Value
Friday, October 29, 4:00 p.m.
Rackham Auditorium, 915 East Washington Street
Symposium On The Tanner Lecture
HELEN VENDLER
KENNETH FUCHS
Director and Professor of Music
University of Oklahoma
MARK E. NEELY, JR.

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THE CHARLATANS UMATB
Us And Us Only Movin' Melodies

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