The gamecock. (Columbia, S.C.) 1908-2006, September 16, 1992, Page 2, Image 2
U.N. rallies for change
GENEVA ? The world economy
is at an impasse for the first time
since the Great Depression, with
the private sector unable to muster
the strength to pull out of recession,
a U.N. agency reported
Tuesday.
The U.N. Conference on Trade
and Development recommended
the governments of developed
countries break the economic stalemate
by increasing spending on
public works projects.
In its 142-page annual report, the
agency reported the United States,
Japan and Britain have been especially
hard hit by problems which
can be traced to the robust 1980s.
In those years, there was heavy
lending for investments in commercial
property. That led to a "masciyp
nuprciinnlv" nf cno^o
ai ? v v t viou|/|yij v/x uiiivu opavu
followed by a sharp fall in prices,
the report says.
The price collapse brought
severe losses to many banks, and
those institutions now are increasingly
cautious about loaning money,
the report says. In the United
States, the situation was aggravated
by the savings-and-loan crisis.
Unemployment on the rise
MOSCOW ? Unemployment in
Russia could skyrocket 20-fold
next year due to bankruptcies
caused by government subsidy
cuts, a senior official said in
remarks published Tuesday.
ine orriciai jooiess total couia
jump from under 250,000 to about
5 million people, Economics
Minister Andrei Nechayev said in
the government daily Rossiiskie
Vesti (Russian News).
Authorities have said the actual
jobless figure may be twice the
official one.
As the government cuts subsidies
to state-owned businesses, the
number of bankruptcies will rise,
Student atta
By CHAD BRAY
News Editor ;
1
A 18-year-old student was ;
attacked and robbed early Tuesday i
outside of Bates House.
Freshman David Ellis was walk- 1
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forcing employees to seek othe
work, Nechayev said.
"In 1993 ... the number of peo
pie needing work could rise t(
about 7 million people, or 8 per
cent of the work force," he said
"About 5 million of them might b(
called 'jobless,' of which about 4.'
million will receive unemploymen
relief."
Endeavour in orbit
HOUSTON ? Endeavour's astronauts
levitated liquid drops
Tuesday using sound waves, aftei
achieving the fertilization of eggs
produced by frogs in orbit ? a
space first.
Mae Jemison balanced reddish
beads of mineral oil in an acoustical
chamber using sound waves
from three speakers before some of
the eight or so drops drifted off and
burst.
But scientists said they had some
success manipulating a few of the
drops, which ranged in size from
less than a half-inch to nearly an
inch.
The experiment may help scientists
develop methods of processing
materials without contaminating
them by touching container walls.
Companies call for recycling
BOSTON ? More than 20
American companies, including
McDonald's Corp., Coca Cola Co.
and Sears Roebuck & Co., Tuesday
launched a national campaign
designed to create demand for
recycled goods.
Organizers say the voluntary
effort will help fill an important
gap in the recycling movement that
has succeeded in collecting paper,
glass and other reusable trash, but
has fallen short in finding markets
for recycled goods.
"This will help pull material
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uiiougii me recycling loop rauiei
icked, robb
ing behind Bates House about 1
a.m. Tuesday morning when USC
Police said an unidentified man
approached Ellis and punched him
in the stomach.
Ellis said the man then pulled a
knife and told him to give him
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Bailey, coordinator of the business
alliance for the National Recycling
) Coalition, which is holding a con
ference in Boston this week.
The alliance will conduct pro:
grams around the country to show
1 businesses how they can buy recyt
cled goods and use them in their
daily operations. Part of this effort
will include a database that informs
businesses where, for example.
they might buy memo pads made
of recycled paper.
Sears Roebuck, for instance; has
set goals with its suppliers to use
corrugated paper and plastic packaging
that contain at least 25 percent
recycled materials.
i
SRS opt?s rlpanun mnnpv
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COLUMBIA ? The Savannah
River Site will get an additional
$20 million in federal money for
cleanup at the nuclear weapons
complex near Aiken, Gov. Carroll
Campbell said Tuesday.
President Bush signed legislation
Monday night that transferred the
money to SRS from a Department
of Energy account, Campbell said
in a statement. The money was
originally to be spent on a new
production reactor.
Energy Secretary James Watkins
last week postponed all work on a
new production reactor for at least
three years.
The move cast doubts on
whether Savannah River will ever
get the new reactor, which state
officials have pushed for because it
would create thousands of construction
jobs.
The new money will help create
new ways to clean up the environment
at nuclear facilities across the
country, Campbell said.
Supreme Court stops cuts
COLUMBIA - Immediate acrossthe-board
cuts would be ordered if
ed behind B;
some money. Ellis gave up $10 and
the man ran off toward the Five
Points area.
Ellis said the area was lit well
and there was a call box nearby, but
he no longer feels safe on campus.
"I doubt it now," he said. "I
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the state Supreme Court nullifies
the Budget and Control board's
plan to pare $200 million from the
current budget, Gov. Carroll
Campbell said.
The budget board was to meet
Tuesday to hear from some agencies
who want exemptions from the
recent round of budget cuts.
If the high court rules against the
Budget and Control Board's plans,
Campbell said Monday that the
new spending cut would be needed ,
to avoid the loss of the state's
Uiple-A credit rating. ,
1 hf1 'ifnfp'? ratino frr\m a mair?r
Wall Street firm is the highest ,
available, saving taxpayers millions .
of dollars in interest on government ,
construction projects. (
Nominations requested <
Nominations for the USC's 1992 t
Distinguished Black Alumni Award (
are being accepted by the USC (
Black Alumni Council.
Written nominations of alumni (
who have excelled in their profes- ^
sion should be made by Sept. 30,
including a description of the individual's
accomplishments and
resume. Mail nominations to USC c
Black Council Award, 1731 1
College St., Columbia, SC 29208.
Business seminar upcoming (
"Financing Your Business for e
Existing Business Owners" will be c
offered Sept. 24 by the USC's
Small Business Development a
Center and First Union Bank. F
Designed for those who have I
operated a business for at least a p
year, the seminar will run from 6-9 t;
p.m. in Room 502 of USC's col- j,
lege of business administration. r
Speakers include Theresa
Singleton, chief of the Small ^
Business Administration's financ- c
ing division, and Greg Burke, vice ^
president of First Union's commercial
banking group.
o
ates House {
don't feel it's safe as I thought it
was."
Ellis, however, doesn't believe
the blame should fall on the university
for the incident.
"I shouldn't have been walking
by myself that late," he said.
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Assuming an interest rate of 7.5% credited to TIAA Retu
produce very different results. C
Groups que
Cabinet inv
in Bush can
By The Associated Press ' " e
Dick Cheney got laughs when he e
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Tennessee this month that "I'm not c
involved in politics anymore, now si
that I'm at the Pentagon." ti
The defense secretary never
mentioned the name Bill Clinton, ci
Still, he's doing his part for the b
unofficial campaign which involves
i mix of roadshow and backstage t\
maneuvers by administration offi- ^
:ials working to re-elect George g
Bush. ^
Democrats and government ^
vatchdog groups say they are not .
tmused by the spectacle and raise
questions about ethics, taxpayer
subsidies and unreported political ^
:ontributions. L
But White House officials con- Ul
inue to plot campaign strategy tc
leep inside the Beltway, while oth;rs
in the administration scatter s<
tcross the land to tear down ^
Clinton, the Arkansas governor and ^
Democratic nominee.
Cabinet members converged on ^
iouston last month for partisan d<
luty during the convention. Now
hey show up in a city here or
here, often the same day as a visit
>v Clinton or running mate A1
}ore, busily knocking down whatver
the Democrats have just said
?r are about to say. ^
Hours before Clinton was due to
rrive in Jacksonville, Fla., this
iast Wednesday, Labor Secretary P?
.ynn Martin called his economic ar
dan "slippy" and "slidy" and cer- w
ain to cost the country 1.5 million 0
obs. Bush's plan was practical and P1
eal, she said.
That same day in Shreveport, ar
.a., hours after Gore had come to
all, Energy Secretary James in
Vatkins accused Clinton and Gore ^
?f favoring "a radical ban on all
w
ffshore drilling" which would be a
isaster for the oil industry. The P?
)emocrats say they want to stop
ew drilling, not all drilling.
Cheney, slightly more subtle, Wi
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lpaign
xpressed concern in Indianapolis
arlier this month about "some crit:s
(who) are calling for deeper
uts in our aimed forces that would
urely destroy our military capabilies."
Clinton has proposed defense
uts twice as deep as those planned
y Bush.
Other high-ranking officials on
le campaign trail have included
udget director Richard Darman,
ducation Secretary Lamar
lexander, Health Secretary Louis
ullivan, Michael Deland, head of
ie White House Council on
nvironmental Quality, Pat Saiki,
ead of the Small Business
dministration, and Bob Martinez,
ie national drug policy coordina
>r.
Then there's the behind-the:enes
crew headed by White
ouse chief of staff James Baker,
e has essentially run the camaign
since his return from the
tate Department last month,
2spite a memo last November in
hich White House Counsel C.
oyden Gray told all White House
aff "anything that is obviously
impaign-related should not be
)ne here."
Fred Wertheimer, president of
ommon Cause, urged Bush in a
ily 24 letter not to bring Baker to
e White House to run the camtign.
He said it would be "wrong
id improper" and counter to a
ell-established tradition of public
"ficials leaving government to aid
esidential campaigns.
Bush did it anyway, to the
inoyance ot at least one registered
spublican who vented her feelings
a recent letter to the New York
imes.
While Cabinet members and
rhite House employees are not
irred from political activity, the
endrie letter underscores potenllly
problematic aspects of the
ay the system works.
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