Page 4 - TheMichigan Daily - Tuesday, August 14, 1984
Consumer confidence
strong, says 'U' study
IN BRIEF
Compiled from Associated Press and
United Press International reports
ANN ARBOR, Mich. (UPI) - Con-
sumers are making more money and
are ready to spend it as long as interest
rates don't get too high, a survey
showed yesterday.
The University's Institute for Social
Research said its latest Survey of Con-
sumers' Attitudes shows consumer con-
fidence in the economy remained
strong in the second quarter, although
it was down slightly from the first quar-
ter.
SURVEY DIRECTOR Richard Cur-
tin attributed the slight second-quarter
drop to public concern over rising in-
terest rates. But he said consumer sen-
timent during the first half of 1984 "has
been more favorable than in any prior
year during the last decade."
Curtin said 45 percent of those sur-
veyed said their financial situation had
improved during the past year.
It was unchanged from the first quar-
ter reading, which was the highest level
recorded since 1972.
"ALTHOUGH INCOME and em-
ployment gains were primarily respon-
sible for the recent improvement,
declines in inflation during the past
several years have had a substantial
cumulative impact," Curtin said.
Forty-two percent of the respondents
said they were willing to use ac-
cumulated savings to make major pur-
chases in the second quarter, the
highest level recorded in 10 years, cur-
tin said.
But Curtin said consumers are
worried about high interest rates, and
only 31 percent of those surveyed ex-
pect business conditions to improve
during the next year, down from the
level of 52 percent a year ago.
EXPECTED TRENDS in inflation,
unemployment and interest rates
reached their most favorable levels a
year ago, he said. Since then, resear-
chers have noted slightly less favorable
expectations about inflation and unem-
ployment.
"But interest rate expectations, in
contrast, have become unfavorable,
and represent the major factor behind
the expected decline in the pace of
economic growth," he said.
The survey was based on a nation-
wide representative sample of more
than 2,000 respondents. Interviews
were conducted in April and June.
Tke
1Daie
Pipe bomb suspect
pleads innocent
ST. CLOUD, Minne. - A former men-
tal patient accused of planting pipe
bombs in several upper Midwest com-
munities pleaded innocent and innocent:
by reason of mental illness yesterday in
connection with six pipe bombs found
here.
Earl Steven Karr, 24, was returned to
Stearns County jail in lieu of $350,000,
bail following a five-minute hearing;
before Judge Paul Hoffman.
Karr, who also faces charges in
Wisconsin and Iowa, appeared in court
unbandaged but showing scars from
burns he received when a bomb ex-
ploded in his rented car in Mason City,
Iowa, on June 8, leading to his arrest.
Bomb threat interrupts
deliberation of
DeLorean case
LOS ANGELES - Jurors in the John
DeLorean trial were abruptly pulled
from their deliberations yesterday as
the judge ordered evacuation of the en-
tire U.S. Courthouse because of a bomb,
threat.
No bomb was found, and the
evacuation ended-about 1% hours after
it began.
U.S. District Judge Robert Takasugi,
in his capacity as acting chief judge in
the absence of Judge Manuel Real, or-
dered the evacuation at about 9:50
a.m., shortly after a courthouse clerk
received a telephone call from a man
demanding legalization of marijuana
and cocaine, chief Deputy U.S. Marshal
Sam Cicchina said.
Curfew lifted after
two nights of rioting
LAWRENCE, Mass. - City officials
lifted a dusk-to-dawn curfew
yesterday but left intact a state of
emergency they helped restore
peace to a neighborhood struck by
two nights of fiery rioting between
whites and Hispanics.
"We're easing up on everything.
There won't be so much police presence
and we're letting people come out of
their houses," said Alderman Raymond
Johnson, the city's public safety direc-
tor.
"We think things have gotten to the
point where we don't need a curfew,"
said Mayor John Buckley.
Motorist rams crowded
trolley car in San Fran.
SAN FRANCISCO - A cable car
operator was hailed as a hero yesterday
for managing, although injured, to stop
a tourist-packed trolley after it was
rammed by a motorist in a "possible
suicide," authorities said.
Sunday's accident, the worst since
the recently renovated line opened in
June, injured 28 passengers and killed
the motorist, whose name was being
withheld pending identification by
relatives from Southern California,
authorities said.
Firefighters spent almost an hour
prying the body from the mangled spor-
ts car, which contained an Iranian visa,
a suitcase and a framed diploma from
Florida, coroner's officials said.
Two Polish men in Detroit
ask for political asylum
DETROIT - Two Polish men who
jumped a sailing tall ship, in Detroit
on a good will stop at an ethnic
festival, yesterday asked
immigration officials for political
asylum.
Waldemar Kaczmarski, 23, and
Grzegor Solowiez, 25, sailor
trainees on the 140-foot sailing ship
Zawisza Czarny, contacted sources
in the city's large Polish community
after they jumped ship Sunday, their
attorney Paula Gribbs said.
The Zawisza Czarney sailed
yesterday for Toronto without the
pair, both from the city of Nowa Sol,
a city in west-central Poland
Olympians evacuated after
bomb is found at airport
LOS ANGELES - A device
believed to be a pipe bomb was
found on a bus carrying Turkish
athletes to the Los Angeles
International Airport yesterday,
forcing the evacuation of thousands
of people from two terminals, police
said.
The device did not go off, and no
injuries were reported.
An inspection of the bus after it
arrived revealed a device "believed
to be a pipe bomb," said policeI
officer Margie Mastro. "The officer
removed the device, and no one ws
injured."
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Vol. XCIV-- No. 37-S
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