Page 2-The Michigan Daily -Friday,~January 18, 1991 11 m E CaIvin and Hobbes - --- St~rl c NS ! IFOE1 E TUE ( WRE G01N 'T4 GET ME, SAIO TO GT TNEK FIRST! ASt ~T SEE MI. mt vIS Moi To T~AlS VErY T"OWG4t T"ORRCM. IN 'JGET NT REID1THIS INSTN'. by Bill Watterson- e0Mp G War in gulf hits stock market; oil prices fall. S EP? S I~S~k4 GOONS? IDtIY MAKE THEM! tI MEA, I V4W7 OWE,9smXOF %I 11NESEAWE$! 1'TH E E --- . -. SEE? SEE ? y t N~i WAR Associated Press Stock markets around the world rose sharply yesterday as investors watched the progress of air strikes in Operation Desert Storm. News accounts of what had been happening in the attack sent bond prices soaring and interest rates tumbling in the credit mar- kets. At the same time, oil prices plunged. On the New York Mercantile Exchange, the price of crude oil for February delivery suffered the biggest one-day drop in history, tumbling more than $10 a barrel, to below $22 a barrel. Light sweet crude was $2.19 to $10.56 lower with February at $21.44 a barrel; heating oil was 13.51 cents to 29.64 cents lower with February at 61.96 cents a gal- lon; unleaded gasoline was 12.85 cents to 21.90 cents lower with February at 60.29 cents a gallon; natural gas was .005 cent to .098 cent lower with February at $1.621 per thousand cubic feet. Energy and gold prices plunged yesterday as well. Gold for Febru- ary delivery plunged $30.10 on New York's Commodity Exchange as President Bush called the initial phase of the Persian Gulf war a success. It was one of the largest one-day declines in gold prices in the market's history. The Dow Jones average of 30 industrials jumped 96.04 points to 2,604.95 by 2 p.m. on Wall Street, four and a half hours after trading began with a minute of silence on the floors of the New York and American stock exchanges. Amid all the excitement, many analysts cautioned that the mar. kets were operating on a surge of adrenaline that might dissipate quickly. The NYSE's composite index of all its listed common stocks gained 5.13 to 178.13. At the Amex, the market value index was up 3.20 at 302.09..a7 up 3.20 at 302.09. Nuts and Bolts ~TAa.CErch OUT -Na~ ZT3,i M kI s.A ' R1 $o-NisR FNO iHISW. INC0NVS~IJCE rC s~ IRAtN IT StiiiH, WHA-r WEREY-HINKING? t -_ i r t \.! ANP 'THIS ONE HERE b s REAL. SuSPi C.l --,L)S Y'KNOW, HE'S ... E ydtNK WINK L. by Judd Winick v50OT A 'TWICH- ? 044 LORD,-. SMIITH.. (li _ Ya~u ee JEWISH Contiued from page 1 junior, said. "It irks me that Saddam Hussein is bringing Israel into this because he knows that his army can't defeat the coalition. The implications of Is- rael retaliating are so great it may be best to wait," Fischer said. "It's go- ing to prolong the war and make it more devastating," he added. "Israel has to knock out the re- maining threat in Iraq. They didn't initiate any hostilities with Iraq. Saddam initiated them, and in doing so, dug his own grave," said LSA sophomore Neil Solomon. "Israel will attack without mercy now that they have an excuse." "If (Israel retaliates), I hope they do it swiftly and devastatingly. Enough with (Saddam). He has to be stopped now," Paul Shwartzman, a Business School junior, said. Several students shared their pre- dictions for what action they be- lieved Israel will take. "Israel is going to do what ev- eryone expects them to do, and that is to counterattack," said first-year LSA student Larry Bartos. "Hopefully, the coalition will realize the lesser of the two evils, and fight with Israel against Saddam Hussein.". a . I I F, w L - I -.--j a ISRAEL Contlued from page 1 of the anti-Iraq coalition. Iraq had threatened to attack Is- rael if it were subjected to attack. An Israeli official said prelimi- nary reports showed two missiles landed in the northern seaport of Haifa and three in unpopulated ar- eas of the country. American television networks I S i ro-Americans and,,the Study Abroad " 9 Experience PRESENTED BY THE OFFICE OF INTERNATIONAL PROGRAMS Monday, January 21, 1991 (Martin Luther King Day) at 2231 Angell Hall 1:30 - 3:00 p.m. Speakers: Nesha Haniff, M.P.H., Ph.D. Adjunct Assistant Professor of Afroamerican and African Studies Adjunct Lecturer, Women's Studies and soon to be Director, U-M Study Abroad Program in Jamaica reported missile strikes in Tel Aviv, Jerusalem and Haifa. The Pentagon said American aerial bombardments of Iraqi Scud missile sites were continuing, and that a majority of Iraqi sites al- ready had been destroyed before the attack on Israel. Israel had been under virtual curfew all Thursday in the after- math of the U.S. attack on Iraq. Iraq had repeatedly threatened to fire on Israel if war broke out. The United States and allies sent war planes to attack Iraq because it refused to withdraw its soldiers from Kuwait. PROTEST Continued from page 1 "We are Americans here in this country. We have every right to say what we want, without being thrown in a camp for it," Deyar added. The final speaker, first year law student, Karima Bennoune, is also an Arab-American. Bennoune em- phasized the plight of the Iraqi peo- ple, whom she said are "living under a rein of horror. Men, women and children are being forced to pay for their government's foreign policy." The crowd cheered in response to Bennoune's demand for an end to U.S. -bombing. Bennoune reminded the crowd that the student movement of the 1960s contributed to the cessation of the Vietnam War and urged them to take similar non-violent action. "We must shut down this University if necessary. There will be no business as usual until there is justice in the gulf," Bennoune said. 'Wounded soldier' arrested w After one hour, the group marched to the Federal Building chanting, "No Blood For Oil" and "Stop the Bombing, Stop the War." At the Federal Building, a man and woman holding an anti-Bush banner pinned yellow ribbons over their hearts to show support for the people dying in the gulf. The couple by Amanda Neuman Daily Staff Reporter An anti-war protestor, posing as a wounded soldier, was arrested by Ann Arbor police for disorderly conduct during anti-war demonstra- tions at the Federal Building yes- terday. Residential College junior Brian Erdstein, leaning on a crutch, his arm tied up as if it were amputated, began hobbling across Fifth Avenue and Liberty Streets toward the protest. Erdstein wove through traffic pretending to be in raised their hands in peace signs dur- ing the speeches. The rally concluded with a series of songs. Protestors stood singing arm-in-arm before they dispersed and marched to the Union. Yesterday's protest was only the first of many to come, organizers say. severe pain. After refusing police orders to get out of traffic, Erdstein dropped, to the ground and began wailing. As four officers struggled to put, him in the police car, protestors, congregated in front of the car, Erdstein said. Erdstein was jailed for two, hours and then released without, bail. Formal booking will occur next week, Erdstein said. Ann Ar- bor police Captain Craig Rodrick confirmed the arrest. confirmed the arrest. GULF Continued from page 1 eney said: "We've been instructed to execute the plan, carry on these operations until we achieve our ob- jective. Our objective is to get Saddam Hussein out of Kuwait." Cheney said allied warplanes flew for more than 1,000 sorties in the first 14 hours of combat and engaged in some air-to-air duals with Iraqi aircraft. He said no U.S. planes were lost in those encoun- ters. "So far, so good," Cheney con- cluded. Baghdad radio said Iraqi anti- aircraft units shot down 14 attack- ing warplanes but offered no proof. The Iraqi embassy in Washing- ton said 76 allied planes had been shot down and that 23 enemy mis- siles were intercepted. Powell said there soon would be movement of allied ground forced being repositioned for an eventual assault on Iraqi troops en- trenched in Kuwait. He said the Iraqi military "should get greatly concerned about our ability not just to use one tool, but to use all the tools in the tool box that we brought to this effort." The White House reiterated that Saddam should quit without a fight. "The situation to Saddam is the same now as it's been for five and a half months. All he has to do is lay down his arms and say, 1 in tend to comply' and do it," Fitzwater said. The general optimism of the day was punctured last night by Iraq's missile attack on Israel. "It's what we've been worried about all along," said Pentagon spokesperson Pete Williams. Iraqi President Saddam Hussein had vowed in advance to answer, American hostilities with an attack' on Israel, a bid to widen the Per- sian Gulf war and tempt Arab na- tions - Syria and Egypt among them - to desert Desert Storm in favor of a holy war against the Jewish state. Throughout much of the day yesterday, official Washington was expressing unbridled satisfaction with the war effort, and Bush vowed, "We will prevail." Michael Milne MA Ph.D. MichsanUnion Ticketce, Lecturer in Spanish AfterJan.1alsoat Director, U-M Summer Study Abroad Program in Seville,e Spain r::l~ >Cpr7I YXiIM7ti tL'T,,1'y: , 'RESERVE OFFICERS' TRAINING CORPS R1 \ sb\ \ i v .vh a .. . a.. . .\ \ ..f' \ \ i ?Mx : iW . y3\<"" ,"-\\yya \ BUT ONLY IF YOU'RE GOOD ENOUGH. Army ROTC offers qualified students with good grades scholarships that pay tuition and most educational fees and provide an allowance for textbooks and supplies. You'll also receive up to a $1000 ,......4 S--an fl\a\,nfl .mai.. *1,a --Mafltaa.. kinko's the copy center 49~ Laser Prints Open 24 Hours 540 E. Liberty 761-4539 1220 S. University 747-9070 Coupon required expires 4/30/91 Abe £irb4bra iailIg The Michigan Daily (ISSN 0745-967) is published Monday through Friday during the fall and winter terms by students at the University of Michigan. Subscription rates via U.S. mail for fall and winter $39 for two terms, $22 forone term. Campus delivery $28.00 for two terms. Prorated rates: $25 for two terms; $11 for one term. The Michigan Daily is a member of The Associated Press and the Student News Service. . ADDRESS: The Michigan Daily, 420 Maynard, Ann Arbor, MI 48109. 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