Page 12
THE BATTALION
WEDNESDAY, APRIL 2, 1980
business
Candidates would fai
Computer banking on its way in test, researchers sayj
United Press Internationa]
NEW YORK —Banks, long a rela
tively labor intensive business, are
so determined to shift to machines
that the use of automatic electronic
banking equipment will grow more
than twenty-fold in this decade, says
Richard Scarborough, a Boston re
searcher.
Scarborough has just done a study
for Frost & Sullivan, a New York
business research house. The study
concludes the value of terminals,
robot tellers and other electronic
machines used to handle fund trans
fers from banking retail outlets will
jump from a present level of $50 mil
lion to $1.1 billion by 1989. That
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Summer:
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Fall/Spring: 1 Bdrm.
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Call 693-3701 2 B* 1 * 111 -
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doesn’t include any computers or
other big ticket hardware.
At the moment, banking terminals
and other electronic fund transfer
gear are a tiny part of the electronic
terminal market. Electronic cash
registers and sales terminals, com
munications terminals and display
terminals used in engineering de
sign, scientific research and plant
and process control are the big
market.
Increasing labor costs have
prompted banks to push electronic
terminals that customers can operate
themselves. The huge cost in money
and time of physically transferring
avalanches of paper documents also
MSC Arts
Committee
PRESENTS
CRAFTS
FAIR
APRIL 9-10
RUDDER FOUNTAIN
9:00-5:00
RAIXR0OM
The Finest
New Dance Hall
in Texas
presents
66
Dottsy”
Saturday,
April 5
9-1
CALDWELL
gave impetus to the move.
Once they got into it, the banks
saw electronic fund transfer as a gol
den opportunity to multiply their
business activities. The electronic
gear, unlike clerks, can work around
the clock, thus stretching indefinite
ly the old nine-to-three bankers’ day.
More importantly, Scarborough’s
report says, bankers realized that
electronic fund transfers could in
crease their income from fees for ser
vices and reduce their almost total
dependence on borrowing money
and relending it at higher interest
rates.
Paperless debit card transactions
via the electronic fund transfer gear
will enable millions of persons to dis
pense with both cash and checks for
much of their buying and bill paying.
The researcher sees the steady ex
tension of electronic banking termin
als into such retail outlets as gasoline
stations, liquor and drug stores,
hotels and motels, large auto repair
shops as well as department stores
and supermarkets.
SNOOK
CHAMPIONSHIP
RODEO
Every Saturday
8 p.m.
Adults $3.00
Children $1.50
THE ARMY WILL HELP
FINANCE YOUR
EDUCATION - IN JUST 2 YEARS.
Making it in college? Then hang in there.
But... if you’ve already decided to leave be
cause of financial pressures, the Army can
help.
Now, if you qualify, the Army’s 2-Year En
listment will offer:
*An Educational Savings Plan so
you may return to college later.
Through the Veterans’ Educa
tional Assistance Program your
contribution is matched 2 for 1.
* A $2,000 Education Bonus.
* Guaranteed training.
* Other benefits.
Sound good? Check it out. The Army’s 2-
Year Enlistment with Education Bonus. Also
available are 3 and 4-Year enlistments with
education bonus.
Call Army Opportunities at
SSG Gary Huey
1242 W. 43rd St
Houston, Tx
Ph 686-3779
Join the people who’ve joined the Army.
An Equal Opportunity Employer
Hoyle will attempt to portray future
society and how the individual will fit in.
This program will be presented Thurs- |
day, April 3 at 12:30 p.m. in Rudder
forum. Admission is free.
GREEKS: AN AGGIE ADDITION
Interested in finding out
about sororities?
Texas A&M Panhellenic is inviting you to their
1980 Rush Forum to answer questions you might
have about sorority life and how you can become
involved.
WHEN: WEDNESDAY, APRIL 2nd at 7:00 p.m.
WHERE: THE RAMADA INN BALLROOM
(TEXAS at UNIVERSITY)
*Op«n to all tamale undargraduataa at A&M
*For more information call 693-2807
I.Q.
QUALIFICATIONS
Teacher - Professor Emeritus TAMU
Farmer and Stockraiser
Veteran
Active in Community and Church
Family man
INDEPENDENCE
NO political, job or business obligations. Sufficient income from teacher
retirement, social security and wife’s retirement to meet financial needs.
INTEGRITY
Financial and moral integrity a vital personal committment.
N.A. McNiel
INCENTIVE
To give a choice of candidates and views in November
Dedication to the free enterprise system
Reform of Ad Valorem taxes
Severance tax on natural resources for education
Adequate compensation for teachers
Return schools to teaching our children
Right to Work
CANDIDATE FOR STATE SENATOR
DISTRICT 5
Pol. Adv. paid by McNiel for State Senate Committee
Dr. Howard Joham, Rt. 2. Box 146, Bryan, Tx. 77801, Campaign Treasurer
Campaign Headquarters: 813B Texas Ave. Phone: 693-1400.
United Press International
NEW YORK — If the current can
didates for president were given the
kind of aptitude test business uses to
fill top jobs they’d probably all flunk,
says Dr. Phil Launer.
Launer heads Launer & Vistica
Associates, Inc., a New York evaluat
ing firm. For fun, the company took
one of its standard job analysis ques
tionnaires and applied it to the pres
idency.
The conclusion was that about the
only high marks any of the current
crop of candidates would get would
be for “affability” and “promises.”
For “promises kept,” they’d all get
poor marks.
Launer said the White House job
description was not just a gag,
though. It is an attempt to show the
weaknesses of our method of choos
ing a president.
Business firms use experts to re
cruit a top executive.
American voters have to choose
among a crop of candidates running
hard for the job and the increasingly
drawn out campaigns aren’t impro
ving the chances of a sound choice.
Launer conceded that he didn’t
know how to improve the system but
said he thought attention ought to be
called to its shortcomings.
Launer’s job description for an
occupant of the White House is pret
ty formidable.
The easiest qualification is the for
mal education required — a bache
lor’s degree “with emphasis on eco
nomics and history.”
Then things get tough.
Remember Harry Truman’s desk
sign, “The buck stops here?” The
president has no one to lean on but
he is answerable to complaints, pleas
and abuse from 220 million indi
viduals.
One question in the job evalua
tion: “To what extent is job applicant
expected to work on his own?j
grim answer is “ 100 percent.
He has to be a self-starter, 1
percent of his duties are laidoi
him by law.
He will have to be awaylj
home and family 20 to 30 pert
the time.
PEK
Stretch mortgage aids buyc
United Press International
NEW YORK — The prospective
home buyer, with only a small down
payment, historically is the first to be
cut out of the mortgage market when
money becomes tight.
Often this would-be homeowner is
dependable, has good credit stand
ing, good job credentials and pros
pects. Lending institutions do not
like to turn down such people.
One alternative is the so-called
stretch mortgage — one with less
than a 15 percent downpayment —
that is covered by private mortgage
insurance firms.
“Without the private insurance
coverage, applicants often wouldn’t
be able to buy a house,” said Len
Druger, vice president of New
York’s Citibank.
Gordon Steinbach, vice president
of MGCI Investment Corp. of Mil
waukee, Wis., said his company, the
nation’s largest mortgage insurer,
has upped its coverage to 30 percent
of the mortgage, compared with the
usual 20 percent to 25 percent.
This increase reflects reduced de-
Fully half his time on tkj
should be spent “listening ton
teracting with people, in oroulffi
administration.” Another lOpe*
of his working time should be™ 0
reading reports, bills andi
papers.
curreni
And the job is described as curb gr
end. It leads only to being ajopped
president. If Astu
The reasons for failure ofpasi# rt( ’ n
idents were given as:“lackofl» 01
(N ixon), ” "sloth — not working gf ovei
job all the time, "poor commi*Th e ■
tion” and “too much isolation|“ :,serva
people’s needs and desires.’’ Se
families
It all
ehildrei
othe:
“The
they ea
spect tf
mand as lenders ration tigbljL
and some prospective buyei‘ eill P er
priced out of the market by
terest and high prices. E
Druger said the 90 percentlH*? not
designed for the individua:f! . e , rS j’
good prospects who hasn’t beejf
to put together the down
By spreading the risk in a: pointed
mortgage the private insurers blames
“significant role,’ in encou adoptin
lending institutions to makeBlacinj
loans, Druger said. things.
The i
UAW’s contracts
follow GM pattern
lect the
tion” ar
Until
control
Commi
pic’s D;
that Ch
1 billioi
Gove
closed
year exc
MSC Great Issues presents Dr. John
Hoyle of Texas A&M University speak- p
ing on “The Greatest:,Your Future.” Dr. .
United Press Internationa]
DETROIT — With barely a mis
step, the United Auto Workers un
ion is quickly adapting its 1979 auto
pattern contract to the far-flung and
diverse automotive components in
dustry.
There were worries suppliers
might not be able to afford the rich
pattern written last fall at General
Motors Corp. and subsequently de
scribed as the largest economic set
tlement ever negotiated in the auto
industry.
But many of the largest compo
nents manufacturers now have
agreed to contracts the UAW said are
modeled on the GM settlement,
which boosted labor costs an esti
mated 33 percent over three years
for the No. 1 automaker.
A UAW spokesman 1 said sfhaUer
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Munchies
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shops aren’t necessarily being 1
to meet the pattern — particulij
view of the U.S. auto industry!
rent depressed state and bleak
term prospects.
All told, the UAW this
bargain with at least 61 coffl|
that employ more than
members, most of them inai
tiye components.
The list also includes Aiwi
Motors Corp., whose contractlg^
10,000 UAW-representf:]j 0n ran ,
assembly employees expiresi:f, \
tember, and White MotorCcr man v
truck builder with 3,500 " p una aui
whose contracts expire in MajK-gg S)
Agreements have been r fi CO nfess
with many large-scale original B reau( ]\
ment and automotive after: j ate( j
suppliers. |n. on bar
Those companies employ
than 36,000 UAW members.
An exception to the
peaceful talks thus far was B
of the largest auto industry
and among the first to challi
GM pattern. Budd manufactj *11
variety of stampings, asserflvlll
chassis and wheel and braid 1
ducts. l Li
Contract talks between thei KATY
and Budd stalled early in Jailfnche oi
and UAW Vice President kP Urna lb
Gerber led nearly 10,000 work® s t Aust
a 26-day strike, the first betwefftp a l (
two in their 22 years of coPyesday
bargaining. * Threi
Gerber accused Budd oftnlH 6 . e >
take advantage of deterioratiniMicheal
nomic conditions and thus fon ra dio me
strike. The m
“We had no choice,’ he sMm aba
workers walked out. “If wijjte trage
accepted the demands of this [details of
able company, the Budd w’^in in ce
would be worse off than theClii The d<
workers.” iessage
A tentative agreement has#, a far
the GM pattern was reachedF^ew Sol
and overwhelmingly ratified beeves, !
11. "'ell, and
GM workers won substantwraininj
creases in pensions and othmigton, ]
nefits, a 3 percent annual wagei The m
an improved cost-of-living forPembers
insulating wages against inflati: ^. wen
additional paid time off. ThesUlt was
ment was extended to the
Motor Co., but modifiedatCl
Corp. by government mandatf.
With minor variations, the
said its settlements thus farwil
major auto suppliers have runt!
the pattern-
the spr
^ has j
grvs$
BEER GARDEN
Appearing
Ivivc^
This Week
WEDNESDAY
THURSDAY
6i.oo
61.00
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846-9