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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Aug. 15, 1979)
he Battalion Weather Chance of shower and thundershowers today. 30% chance of rain today. 94 today and tomorrow with wind at 15 miles per hour. ^ bi 72 No. 184 «Pages isteuf Wednesday, August 15, 1979 College Station, Texas USPS 045 360 Phone 845-2611 i? arter meets with irominent Texans WWT United Press International WASHINGTON — President Carter Tuesday with a group of prominent ns, some of whom said publicly he ibably could not carry the state if the Selection were held now, but still has ince to regain his popularity. During the session. Carter encountered position to the windfall profits tax he sto impose on oil companies. It. Gov. William Hobby said the 150 to JTexans — past supporters of Carter — tut a full day at the White House dis- sing energy, inflation and SALT II. iter spoke at the concluding session. 1 thought it was all very conciliatory,” us Agriculture Commissioner Reagan said. Hubert Green, San Antonio lawyer and 1976 Carter campaign worker, said bite House Chief of Staff Hamilton Jor- ndrew laughter when he said the ad- nistration “did not set out with a pro- mthat was designed to be popular with Crvone — ‘and proceeded to prove Former Texas Attorney General John Hill, unsuccessful 1978 candidate for gov ernor, said “quite a bit” of opposition was voiced against his energy policies by oil and gas representatives, such as Ralph Spence from Tyler, Texas. “But we did believe — and do believe — that his energy policy efforts as they are representated by his initiatives in Con gress now are on the right track and we are going to try to do what we can do to help pass them,” Hill said. Hill said Carter was “non-committal from any official standpoint” about 1980 reelection plans. “We’ve got our work cut out for us, we know that. It’s a year away, plus a few months,” Hill said. “I think his reelection campaign will be a steady climb upward.” Asked if Carter could carry Texas if the election were next week. Hobby said he “rather doubted Carter could carry the state over former Texas Gov. John Con- nally, but would win against former California Gov. Ronald Reagan. Green said opposition to how the windfall profits revenue would be handled came up at a morning meeting with aides. Hobby said there were two or three hos tile questions in that session, but none was directed toward the president. “I didn’t see a lot of opposition on energy or oil and gas questions. I’m sure there was considerable there, but it did not surface,” Green said. “Most of the questions that were most critical dealt with whether he was doing enough for minority problems or groups.” “The nature of the question was about the excess profits tax and the wisdom of taking that stream of cash out of the financ ing of exploration and development,’ Hobby said. Houston Mayor Jim McConn said Car ter would not do as well if the election were held in Texas next week as he did in 1976 when he carried the state. “He’s going to have to turn some of the domestic problems of this country around,” said McConn, who opposes the windfall profits tax. “He’s going to have to understand that in Texas, we understand something about the energy business — maybe more than they do here.” Mexican support requested United Press International CIUDAD VICTORIA, Mexico — Texas i. Bill Clements opened a four-stop r of the capitals of Mexican border esTuesday, calling for greater coopera- i among the states and Texas to solve h problems as drug traffic, un- [cumented Mexican workers and energy. lements placed a wreath on the kmument of the first governor of Tamaulipas, Gen. Jose Bernardo Gutier rez de Lara, toured a government housing project and told the state congress that Texas and Tamaulipas must be “partners linked together in a never-ending search for a better life through cooperation.” “I am confident that the leaders of the border states of Mexico and the border states of the United States of America meeting together can improve the cooper ation not just between our two states, but between our two nations,” Clements said. He will meet with the governor of Nuevo Leon in Monterrey Thursday, the governor of Coahuila in Saltillo Aug. 27 and the governor of Chihuahua in Chihuahua City Aug. 29. Clements’ visit to the Tamaulipas capital was the first for a Texas governor in 15 years. One last hurdle hrysler borrows i230 million from United Press International DETROIT — Chrysler Corp. Tuesday rowed up to $230 million from General otors finance the wholesale purchase tars and trucks by Chrysler dealers. The Chrysler Financial Corp. reached agreement with General Motors Ac- ptance Corp., wholly owned by GM, der which GMAC will underwrite Wesale car loan contracts on a monthly sis through January 1980. The unprecedented arrangement was Bounced by General Motors in a terse itement and GM spokesmen declined to ahorate. Last Friday, Chrysler Financial reached agreement for the sale of up to $500 mil lion in new and used car loan contracts to Household Finance Corp. Chrysler Financial’s credit rating has tumbled as a result of losses by Chrysler this year which already have amounted to $260 million and has been unable to raise money through normal channels. “This business arrangement,” GM said in its announcement Tuesday, “will assist Chrysler Financial Corp. in meeting its near-term financing requirement.” Chrysler, which is seeking federal aid, resumed bargaining Tuesday with United Auto Workers union for the first time since the UAW rejected a Chrysler proposal for a two-year wage freeze. He told the Tamaulipas congress some of the issues the U.S. border governors have discussed require the cooperation of Mexican governors to be resolved. ^ “We have discussed the issue of citizens M 1% /■ of your country who come to the United X. T X ▼ JL States, but find hardship and injustice. We must and will help these people,” he said in a prepared speech. As the second summer session comes to a close, students add final touches while preparing for fi nals this week. Maureen Fertitta, a senior in chem ical engineering. Academic Building. studies calculus near the Battalion photo by Clay Cockrill May lead to payment balance “We have discussed the problem of il legal narcotics, which damage the lives of millions of people. We can solve this prob lem together. We have discussed the negotiations between our governments for the sale of Mexican oil and gas to the United States. We must seek to remove the barriers preventing these transac tions.” Clements also suggested in his meeting with Tamaulipas Gov. Enrique Cardenas Gonzalez the prospects for industrial de velopment along the Texas-Mexico bor der, and possible exchanges of agricultural products. Foreign U.S. not common. investments panel reports United Press International DALLAS — Americans may not like the idea of Arabs owning a farm down the road. West Germans owning a local plant or Japanese owning a nearby shopping center, but an American Bar Association panel concludes all that foreign investing isn t that common, isn’t necessarily bad and isn’t going to stop any time soon. Locals ‘band’ together Debbie Lard treated Aggies to some folk tunes Tuesday while Equinox drummer Carl Barbee (right) slams out some rock ’n’ roll on Mon day. The panel meeting Tuesday as part of the ABA s annual convention indicated most Americans had a vague and not very good notion of what s behind headlines of foreign investments. “We have a gut feeling we re losing con trol of our destiny, said New York attor ney David A. Richard, a foreign invest ments expert. “We think that to lose own- ship of the land is to lose the crops grown on it. We think the crops are going to be shipped abroad — but that’s not true. “And w'e don’t see the other side; the balance of payments, the American dollars returning home.” Stephen E. Roulac, a California lawyer specializing in helping foreign companies in U.S. real estate purchases, said Ameri cans tended to react emotionally to news of foreign buying. “We have an image of a rich foreigner carrying suitcases full of cash and paying high and wild prices for anything he can get. What is happening is that foreign firms are investing in the United States because the American market compares favorably to other markets worldwide.” Roulac said. The money w r ill continue to come in until the U.S. market is hid up to the world price. Roulac said one reason real estate was attractive to “petrodollar" investments was simply that large sums could he moved into it fairly easily and quickly. He also said Arahs buying American farm land was no different than major institutions such as hanks and insurance companies doing the same thing. Roulac said despite the significant pub licity, his firm calculates foreign interests own about 1 percent of the total U.S. real estate. Another panel member. Noel Nel lis of San Francisco, said however, a re cent Senate committee study showed that of land deals in 10 agricultural states from January 1977 to June 1978, 8 percent in volved foreign interest. The panel also discussed legislation proposed to curb foreign buying, indicat ing measures such as disclosure of the pur chaser and a 28 percent capital gains tax would have little effect. “Disclosure would not stop the major foreign firms from investing in the United States, said panel member Donald Sis kind of New York. “But forced disclosure would stop some wealty foreign families, who might be concerned about pokticia! stablity in their own country, from invent ing in this country. Anonymity is impor tant to some of those individuals. "The capital gains tax, again, would not stop the major foreign firms from investing in the United States. They need to diver sify and the United States is a good mar ket. Their only worry is being able to comply with the complexity of the laws.” The panel, specifically to help lawyers whose services are sought by foreign interest, also said outside buyers fre quently are drawn to farm land because its simplicity. “It is not management intensive, said Roulac. "Owning property isn’t complex. Council OKs new business degree plan By ROBIN THOMPSON Battalion Staff The Texas A6cM University Academic Council approved new degree plans for business majors Tuesday in spite of pro tests that the degrees do not contain enough free electives. The curriculum calls for three hours of free electives during freshman and sophomore years. Marketing majors have no other free electives in the degree plan. During junior and senior years, account ing and finance majors have only two hours of free electives, giving them a total of five. Management majors have a total of 20 hours free electives. William Muse, the new dean of the Col lege of Business, in his first appearance before the council, defended the degrees, stating that 40 percent of the courses re quired are outside of the business field. He said that most of the electives are not free , but in catagories, such as sci ence electives and directed electives. ^ However, John McDermott, head of philosophy and humanities at Texas AflcM, said the degree plans are “far too restrie- tive.~ He said the plans follow- a trend at Texas AirVI away from allowing students to choose their electives according to their own interests. In other business, the council approved a recommendation by the graduate council to permit the Graduate Management Ad mission Test as an option to the Graduate Record Examination for students entering the Master of Public Administration pro gram. The council also approved candidates for graduate and undergraduate degrees to be aw arded August 18 and Doctor of Vet erinary M edscene degrees to be awarded August 24. The council was to consider a new Q-drop policy , but the item was post poned until the next meeting in Sep tember