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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (April 8, 1980)
Page 10 THE BATTALION TUESDAY, APRIL 8, 1980 I UtOUAY, AnnIL O, 1 yoU Citibank moving credit oiiice kH?i^£g s United Press International NEW YORK — Citibank, the largest bank in New York, thinks there’s got to be an easier place to make a buck and it knows where — South Dakota. Making good on an earlier threat. Citibank is going ahead with plans to open a sister bank in Sioux Falls, S.D., where it will transfer its Visa and MasterCard operations from New York. With nearly six million cards outstanding. Citibank is the nation’s No. 2 bankcard issuer be hind Bank of America. South Dakota’s attraction for Citi bank is simple. The state recently eliminated limits on cardholder interest charges, effective May 1, and also gave its blessing to Citibank to set up a South Dakota unit for charge cards. Since a bank can charge cardhol ders nationwide whatever rates are permissible where the card opera tion is based, the move will allow Citibank to set whatever rates the competition will bear. “We would very much like to cele brate the Fourth of July in Sioux Falls,’John S. Reed, Citibank senior executive vice president, said in speech last week. He said Citibank, which has been highly aggressive in seeking card customers in the past, now is losing money on them under New York’s rate limits. Citibank-South Dakota is not a certainty since federal regulators must give their approval. Complet ing the transfer of the bank’s card operations, which employ about 2,500 in New York, is expected to take two years in any event. Citi bank-South Dakota would be a so- ALTERATIONS IN THE GRAND TRADITION OF OLD TEXAS WHERE MOTHER TAUGHT DAUGHTER THE FINE ART OF SEWING SO HELEN MARIE TAUGHT EDITH MARIE THE SECRETS OF SEWING AND ALTERATIONS DON'T GIVE UP - WELL MAKE IT FIT!" AT WE-LCH'S CLEANERS WE NOT ONLY SERVE AS AN EXCELLENT DRY CLEANERS BUT WE SPE CIALIZE IN ALTERING HAF\D TO FIT EVENING DRESSES. TAPERED SHIRTS, JEAN HEMS. WATCH POCKETS. ETC called “second-story’’ bank set up ex clusively for card operations and would do no other banking business locally. Citibank’s moving plans are the trump card in its long-running battle with New York legislators to alter the state’s usury laws and are not a reac tion to the Washington restrictions on consumer credit announced March 14. In February the bank mailed car dholders notices telling them to ex pect to pay more on their outstand ing balances in the finance company states — California, Colorado, Flor ida, Idaho, Illinois, Indiana, Louisiana, Missouri, North Caroli na, Texas and Virginia. Now with a firm decision to open the South Dakota bank for its card business nationwide, Citibank says it may drop the earlier finance com pany plan. GM adds computer for exhaust controls (WE RE JUST A FEW BLOCKS NORTH OF FED MART.) WELCH’S CLEANERS 3819 E. 29th (TOWN & COUNTRY SHOPPING CENTER) DON’T FORGET TO SIGN April 8 TONIGHT! 8 SENTENCED TO SUCCESS Film depicting the struggle of atomic workers to inform the public about hazards to nuclear power plant workers Lr Best Film on Labor — Strasbourg International Rights of Man Festival YOCIR ORGANIZATION OP TO WIN A KEG (or two or three) AT THE AGGIE BLOOD DRIVE!!! Unitarian Fellowship — 305 Wellborn Rd. — College Sta. gmCKZ Brazos Society For * mstZmZ Alternatives to Nuclear Energy FREE Sun Theatres (Kegs donated by Loupot’s) 333 University 846-! The only movie in town Double-Feature Every Week 10 a.m.-2 a.m. Sun.-Thurs. 10 a.m.-3 p.m. Fri.-Sat. No one under 18 Ladies Discount With This Coupon BOOK STORE & 250 PEEP SHOWS 846-9808 United Press International DETROIT — General Motors Corp. is conducting the largest mechanics training program in its history to prepare for this fall’s intro duction of sophisticated engine ex haust emission controls. Despite the complexity of the new computer-controlled system, GM says it has taken Steps to ensure it can be serviced by competent auto mechanics using ordinary shop equipment. By the time GM’s 1981 cars appear, roughly 20,000 mechanics will have undergone “hands-on” training with the Computer- Controlled Catalytic Converter, or C-4 system. “The C-4 system is new and diffe rent, our single largest step forward in the use of the computer on our vehicles,” said James G. Vorhes, vice president in charge of GM’s con sumer relations and service staff. “But reliability and self—diagno sis are integral parts of C-4 and mechanics who take the time to study the system, to understand its operation and to carefully follow di agnostic procedures will be able to correct any malfunction,” he said. The C-4 system was designed to meet stringent 1981 federal emission control standards for reduction of carbon monoxide, unburned hydro carbons and oxides of nitrogen. The heart of the system is a micro computer which regulates a mod ified carburetor, exhaust manifold sensors and a catalytic converter to control emissions. “Mechanics will not have to be come electronics engineers to work on the C-4 system,” Vorhes said. “In fact, there also is no need for expen sive computer testers. “All a mechanic will need is an ordinary dwell meter, a test light, some jumper wires, a vacuum source, a tachometer and a digital voltmeter. Most shops already have this equipment.” If any part of the C-4 malfunctions, a “check engine” light in the dash board will be illuminated. At the same time, the system will flash a code indicating the nature of the problem. The mechanic can decipher the code and refer to a repair manual which will list the precise steps to be taken to fix whatever problem is indi cated. “One key point that we’ve empha sized in our training of technicians is that they should not forget every thing they have learned about en gines just because there is now a computer aboard,” Vorhes said. “Any qualified technician »!ij work on current engineswilll$ to fix one equipped with system." The system will debut osji GM’s gasoline engines thisj already has undergone eitji testing in California, whereQ ecutives believe its reliahili( been proven. “We have been abletogdj experience with this sortofij over the past couple of yean hi ploying advanced, comp! controlled emission systemsii eral hundred thousand carsjjj California and high-altitude i said CM President ElliottM!i “Our experience withthesj in customer use has beenenfei satisfactory.” Full-scale mockupsofthe are helping train dealer techi and independent mechaniaf GM training centers arouif country, CM said. “We have designed in ariefl ly high degree of reliability, a experience in California ins the C-4 is a reliable system, said. “Like all systems, C4cai function. But, unlike othersit C-4 will help diagnose il 4 Come join the folks at Our Saviour’s in a celebration of ♦ life... ♦ When: April 9, 16, 23, 30, May 7, 14, 21. I Social Security la w {hurting, expert says Rand sity c What time: 12:15 - 2:45 Wednesday. Sack lunch. Organ Concert. SUMMER JOBS DALLAS/FT. WORTH • HOUSTON AUSTIN • SAN ANTONIO • LUBBOCK ij r st - *~»~mrppr apr yyv | StlBORBS OP ABOVE * ' *' * ‘ *’ * * ' $6.65/hour Apply in person at LaQuinta Motor Motel April 9-10 8 a.m. - 10 a.m. - 12 noon - 2 p.m. - 4 p.m. (No phone Calls) W.E.A.I. Subsidiary of ALCOA ▲ Where: Our Saviour’s Lutheran Church, Cross and Tauber, College Station 4 (846-5011) 4 Admission: free-will offering ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ SELL YOUR BOOKS FOR MORE! United Press International NEW YORK — If present popula tion trends continue and the Social Security law is not changed by 1995 there will be only two working adults in the United States to support each older person, says economist Peter Drucker. He says the ratio is already down CINEMA University Book Stores NORTHGATE 409 UNIVERSITY DR. CULPEPPER PLAZA „ M NEXT TO 3C-BBQ ’ I The NSC Camera Committee presents Over 30 years in Glamour Photography w,th r April 8 at 7:30 P.M. in Rudder Theater on the Texas A&M campus students - $ 1 50 non-students - $ 2 Tickets available at the MSC box office. to three to one. It was 11 to 1 when the Social Security Act was passed in 1935. Further, the April issue of American Demographics predicts the 1980 census will show that senior citizens already are on the verge of outnumbering teenagers. This has given rise to a flood of proposals for heading off the crisis foreseen by Drucker and such eco nomists as Mickey Levy of the Amer- ican Enterprise Institute in Washington, a relatively conserva tive rival of the liberal Brookings In stitution. These proposals include: — Raising the age for the start of Social Security benefits to 68 from 65. This is being advanced by Presi- EiHi dent Carter’s Commission on Pen- ES: sion Policy. But Drucker said in an EEEH article published in December that it EHi: is unrealistic to try to discourage re- EE::: tirement or postpone it forcibly. nH: — A proposal to tax at least part of EEEH Social Security benefits, which pre- EEEH sently are tax exempt under a 1941 EEEH ruling of the IRS rather than by act of EEEH Congress. Levy estimates that could bring EEEH the Treasury about $7 billion a year. EEEH But he says it is possible that only nEEH about 14 million of the 35 million their benefits. The rest havel incomes (under $7,400 foraf for example). Ni :oi B ■:.v« current Social Security recipients would have to pay any income tax on Levy favors ultimately tai cial Security retirement beirf| fbll income tax rates probably would have to be phases. The presidents Ai Council on Social Security mended last year that half® Security benefits be subjectet The Te: come tax. For persons wit has qualifi tial other income, makin?|ete in tl Security benefits taxablepionships mean putting them in a bicat Austin, bracket. , James I ., . . , from Pasai — Making payments by’I into Social Security funds def- from the federal income tiufr taxes are. Levy says this®' would cost the Treasury$9g-\4- a year but that cost would hill t/ L outweighed by the relief ilj, give the working population''jj vvv burden of supporting the ell In the matter of encouraji| After a sons over 65 to continue ■ tennis sea the big stumbling block ii to make many of these persons donot-tennis. work full time. Yet if theyW “Ron st. time work, they are limited 'climate h ing $5,000 a year. Above tt-Texas A6 lose $1 in Social Security be/’but he ha every $2 earned. The limitiand show raised to $6,000 in 1982. The fori Call Days Evenings & Weekends 707 Texas Ave. Suite 301C College Station, Tx 696-3196 CLASSES START APRIL 9 Full test ’n’ tape summer transfer privileges Major US Cities & Abroad is Outside NY State CALL TOLL FREE: 800-223-1782 Educational Center TEST PREPARATION SPECIALISTS SINCE 1938 For Information About J!j^ r 7 c j5 n, ( 8g ! n j{ l a f 4 §x e Thai " ^ FRI Battalion Classift Call 845-2611 is 5-2 in sii 'into a spo matches. Tom Jud “They play Kent. Kent sa: nis is on t young tea experienc A&M has juniors on the corne Kent said with fly in j to be inva SPRING VALUES ON TIRES AND AUTO SERVICE FRONT-END ALIGNMENT 24 95 (Most American & Foreign Cars) Prices good through Tues., April 15 GOODYEAR RADIAL TIRE SPECIALS F.E.T. 20-HR78-15 Custom Tread Radial 69.00.. .2.93 10-CR78-15 Custom Tread Radial 79.00.. .3.13 10-FR 78-15 Custom Poly Steel Radial 59.00... 2.57 LUBE, Pi) OIL anflJM FILTER 11 (Most American Cwou want i ^ n 8. not fre University Tire & Service Center £ « 509 University Dr. 846-5613 (Next to Wyatt’s Sporting Goods)