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.

August 13, 1982 - Image 3

Resource type:
Text
Publication:
Michigan Daily, 1982-08-13

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

The Michigan Daily-Friday, August 13, 1982-Page 3
NEW LOCATION TO FEATURE INCREASED BOOK DISCOUNT IN FALL
Business is booming at U-Cellar

By GREG BRUSSTAR
After less than a month at a new off-
campus location, employees and
management of the University's non-
profit student bookstore yesterday said
that increased sales wil enable them to
offer greater textbook discounts this
fall.
"Relative to the Michigan Union,
business is extremely- good," said
Bruce Weinberg, manager of the
University Cellar bookstore. "It is up
about 25 percent," he added.
WEINBERG -.attributed the sales in-
crease to the stores move from the
Union to a new E. Liberty St. location.
"More people have walked by this
location this summer than they did over
at the Union. But, we don't know if
that'll be true in the fall. We'll have to
wait until the students come to town,"
Weinberg said.
Weinberg added that the Cellar is
going to offer a 10 percent discount on
textbooks in the fall isntead of the usual
5 percent discount. "We're doing it as
an extra promotion to draw students
over to the new location," he said.
The Cellar's new line of Michigan in-
signia clothing, - which _it was
prohibited from selling at its Union
location due to terms of its lease - is
selling "really well," Weinberg said.
The store hopes to make up extra costs
associated with the textbook discounts
from more sales of clothing,VWeinberg
added.
ACCORDING to Lynn Marie
Graham, U-Cellar cashier, it's "busier
over here. Sales are good, especially
with the Michigan items," and added
that the new location attracts more non-

uoily Photo by DOUG McMAHON
EMPLOYEES AT the University Cellar bookstore, pictured here at the new E. Liberty location, are optimistic that
sales will continue to increase in the fall.

student customers.
Julie Smith, a Cellar employee, said
that students will find the book depar-
tment more convenient at the new
location. "We have more shelf space
than in the ballroom. And we're
arranging the books by course number
instead of general categories." Accor-
ding to Smith, the store is in the process
of stocking textbooks for the fall and
should have a complete inventory
available by Labor Day.
Customers find the new store more

spacious and attractive than the old
one, employees said. With wall-to-wall
carpeting and orderly display shelves
on three floors, the management is
hoping to present a new image.
"WE'RE optimistic that students will
come here and see how attractive the
store is," he added.
The U-Cellar moved out of the Union
on June 20 because it would not accept a
65 percent rent increase. In addition,
the Cellar was asked to pay for ap-
proximately $300,000 in Union

renovations for its section of the
building.
On June 21, the Cellar was informed
by the city-that their new location would
have to have a sprinkler system,
emergency lighting, and plumbing
renovations added to meet building
codes. The Cellar rented a space in
Lorch Hall for three weeks in order to
sell course books before opening at
their new location on Liberty and
Division.

'U' economists oppose
balanced budget plan

By SCOTT STUCKAL
Although the debate over a balanced
budget amendment continues in the
halls of Congress, the verdict from
economists at the University is clear -
forget it.
University economics professors are
overwhelmingly against the proposed
constitutional amendment currently
before the House, and have drafted and
signed an open letter to inform
lawmakers of their sentiments.
"THIS amendment would put the
country in an economic striaght-
jacket," said economics Prof. Saul
Hymans, one of those who signed the
letter.
According to Hymans, a respected
economic forecaster, an amendment
requiring a yearly balanced budget
would not allow federal fiscal policy
enough flexibility to adjust to sudden
changes in the national economy.
The open letter to Congress was
singed by more than 200 economists
across the nation, including six
American Nobel Prize winners in
economics. It was written and
distributed by economics Prof. Gar-
dner Ackley, who served as chairman
of the Council of Economic Advisors
under President Johnson.
THE TEXT of the letter stresses that
the amendment requires "an im-
possible accuracy in economic
forecasting" to predict how our
economy will perform and what the
deficits or surpluses will be,

"The budget has to more responsive
to the needs of the economy, not less,"
said Hymans. "This would be harmful
to the economy. It wold be impossible
to come up with the economic predic-
tions necessary to make this work. It's
not really operational."
While the proposed amendment does
allow budget deficits if a sufficient
majority of Congress votes for them,
Hymans aid "that's not a good enough
escape clause."
THE LETTER also said it would be
an improper function of the judicial
branch of government to mediate
disputes about economic policy.
"It's not the sort of thing one puts in
the Constitution," said economics Prof.
Theodore Bergstrom, who did not sign
the letter, but still opposes the amen-
dment.
Earlier this month, Ackley testified
before the house judiciary committee
which is presently considering the bill,
and explained why he opposes it.
"IT IS EASY... to hypothesize that
the deficits are responsible for our poor
economic performance. That
hypothesis ... is basically erroneous,"
Ackley told the representatives.
Ackley said he believes poor economic
performances create the deficits
because they decrease government
revenues while increasing the need for
governmentspending.
According to some of the professors
the bottom line of the proposed amen-
dment is not budgetary, but political.

Doily Photo by DOUG McMAHON
Sweeping up
A local road worker uses an industrial-size vacuum yesterday to clear away
rocks and debris on Division St.

Back to Top

© 2020 Regents of the University of Michigan