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.

May 21, 1985 - Image 1

Resource type:
Text
Publication:
Michigan Daily, 1985-05-21

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

Nitianrs oeafie
Ninety-five years of editorial freedom

Vol. XCV, No. 3-S Copyriht
ISR study
shows
improving
economy
By STEVE HERZ
Just when the economy appeared to
be collapsing into another recession, a
survey conducted by the University's
Institute for Social Research shows
that things are actually looking up for
most Americans.
This good news comes from the
Survey of Consumer Attitudes con-
ducted by ISR.
THE CONTINUATION OF con-
sumer spending at near record levels
indicates that retail sales will remain
high for the rest of the year. The sur-
vey also showed that although per-
sonal financial progress has tailed off
slightly, the financial situation of
American families remains strong.
The survey also showed that the
recent decrease in interest rates
coupled with widespread discount
prices has restored the buying power
of the consumer.
While the picture does look good,
the survey did uncover some
problems. Though there is no
recession in sight, the economy is ex-
pected to persist in its slowdown in the
year ahead.
ACCORDING TO the survey, less
favorable job prospects and un-
predictable trends in interest rates
loom ahead and could have a negative Vol
influence on buying demand. Tue
Even with the potential pitfalls that nig
lie ahead, Americans have not shed
their confidence. The first quarter
1985 survey of a nationwide sample of
nearly 2,000 people shows the Index of
Consumer Sentiment at 94.5, only 5
points below the cyclical peak of 99.5
registered a year ago.
Survey director Richard Curtin
characterized this performance as
"the most favorable two-year period
since the mid-1960'c." The index Ge
registered a perfect 100 back in wa
February of 1966. six
"OVER THE past five years," Cur- wh(
tin said, "the index has not only we
posted a larger net increase than for
following any of the recessions of the
1970's but the index has also remained coi
near peak levels for an unusually ex- tw
sai
See SURVEY, Page 3 m

Tuesday, May 21, 1985

Fifteen Cents

Eight Pages

House Dems
introduce state
divestment bill

LANSING (UPI)-A group of
liberal Democratic lawmakers
yesterday announced they are in-
troducing legislation to force the state
to divest itself of nearly $3 billion in
investments in companies operating
in South Africa.
Rep. Perry Bullard, (D-Ann Ar-
bor), who is sponsoring part of the
legislation, called the move an exten-
sion of earlier legislation which ban-
ned deposits of state surplus money in
financial institutions doing business in
South Africa and prohibited public
college investments in companies

doing business there.
THAT LATTER law is under court
challenge by the University of
Michigan.
"We view...this as a positive way to
deal with the apartheid system in
South Africa," said Rep. Virgil Smith
(D-Detroit).
The legislation would affect pension
funds invested by the State Em-
ployees' Retirement System, the
Public School Employees' Retirement
System, and the Legislative
Retirement system.
See BULLARD, Page'3

Daily Photo by CAROL L. FRANCAVILLA
[ker Nick, a town council member from Ann Arbor's sister city,
ebingen, Germany, speaks before the Ann Arbor City Council last
ht.
Oerman delegation
romotes peace
By DAVID GOODWIN delegation. "That is why we came
The citizens of Tuebingen, West over here. The contact between the
rmany have witnessed many people should be a basis for a par-
rs in the last 1,000 years, and for tnership and not just official letters
members of the town council written from one mayor to
o arrived in Ann Arbor last another."
ek, preserving peace is TUEBINGEN IS Ann Arbor's
emost in their minds. sister city across the Atlantic and
"We want to enforce all kinds of for the last 20 years the two cities
ntact between the people of the have regularly exchanged visiting
o cities and the two nations," delegates. The current delegation,
d councilman and Green Party whose members each represent a
ember Volker Nick, leader of the See TUEBINGEN, Page 3

Union members want
to see local's audit
By THOMAS HRACH Morgan. "As a committed unionist I
Members of the University's service feel it is wrong for officials to misuse
and maintenance employees union the members dues. That is why I have
have accused their president, vice come forward with this information."
president, and treasurer of embez-
zling union funds and have called ACCORDING to union member
upon their chief executive to make Paul Hrabosky, Newman refused to
public the records of an audit now answer any questions about the audit
being conducted by a Detroit accoun- at last Sunday's membership
meeting. But Newman did promise in
F ca 5isatofe a flier sent tounion members that a
Loca 153 i a artof he mercan report about the audit will be made
Federation of State, Municipal, and available at the June membership
County Employees union which meeib J m
represents 2,200 workers at the meeting.
University. the auditbut he said he will have a
IN A LETTER addressed to union
members in late March, Robert prepared statement next week.
Morgan, a former custodian at the Judy Levy, a union member and a
union ofice, said he had photocopies of University Hospitals employee, ac-
checks signed by President Dwight cused Newman of violating the
Newman, Vice President Betty union's constitution, which requires a
Foster, and Secretary-Treasurer Tom quarterly audit of the union's finan-
Abbott. ces. According to Levy, Newman
The checks, which Morgan said he agreed to contract an auditor only af-
acquired while working in the union ter unon members pressured the
office, allotted over $6,000 in two mon- executives at the March membership
ths to the three executives of the union. meeting.
"I believe the amounts of these THE ACCOUNTANT, Lewis
checks far exceed their regular Vaughn of Detroit, declined to discuss
salaries and expenses," wrote See AFSCME, Page 4

t

Beer Prices Watch-out! Elimination
Should retailers advertise Look for a sunny day Ohio State eliminated Wolver-
their brand prices? with a high in the 70s. ines' chance at Big Ten crown.
Opinion, page 6 Sports, page 8

Back to Top

© 2020 Regents of the University of Michigan