KAPPA ALPHA
national
Battalion/Page
January 20
SPRING RUSH } S3
JAN. 20 AUtt MIXER
JAN. 25 DZ TEQUILLA PARTY
JAN. 27 KAPPA MIXER
Alt Parties at the KA. House
4400 Old College Rd.
All Parties begin at 8:30 p.m.
We can’t say when they’ll end!
GNP takes worst dive in years
ALPHA PHI OMEGA
National Co-ed Service
Fraternity
NEW MEMBER
MEETING
Tuesday Jan. 25
&
Wednesday Jan. 26
7:30 p.m. 205 MSC
★ Recognized on Campus ★
Refreshment Afterwards
United Press International
WASHING I ON — the na
tion’s gross national product last
year fell at an annual rate of 1.8
percent, the worst performance
for the economy in 36 years and
the final quarter’s GNP plunged
at an even steeper rate, the gov
ernment said today.
The October-December
dropped at an annual rate of 2.5
percent, the Commerce Depart
ment reported, which contri
buted to the poor showing over
all of 1982. In 1981, the GNP
grew by 1.9 percent.
Despite the gloomy news,
administration figures said the
year ended with some signs of
improvement that still could
generate economic recovery
early this year.
At-the White House, deputy
press secretary Larry Speakes
said the fourth-quarter figure
closely paralleled an early look
at the GNP provided last month.
“We fully expect the GNP will
show steady improvement in the
coming year,” he said.
Commerce Secretary Mal
colm Baldrige told a news con
ference that despite the fourth
quarter decline, a rebound in
the housing and auto sales sec
tors already is beginning an eco
nomic recovery. The recovery
will be moderate, he said, but
without further increase in the
inflation rate.
Administration economists
said the year ended with some
signs of improvement that could
still generate an economic recov
ery early this year.
The drop in GNP during the
fourth quarter of last year was
mainly the result of a general
clearing of inventories, the sur
plus that was not replaced as
sold, and a sharp downswing in
export sales, the department
said.
The fourth quarter setback
was deeper than expected. Last
month government economists
projected the decline would be
at an annual 2.2 percent rate.
The previous third quarter
had seen some weak improve
ment, at a 0.7 percent rate. The
second quarter was up 2.1 per
cent.
The brunt of the change
from an expanding economy to
one that was shrinking took
place at the end of 1981, when
GNP dropped at a 5.3 percent
rate and then slumped further
in the first quarter of last year by
another 5.1 percent.
The department’s measure
QST
THE MSC AMATEUR RADIO
COMMITTEE MEETING WILL BE
THURSDAY JAN. 20
7:00 P.M. ROOM 140 MSC
SPRING SEMESTER AND ARRL
MEMBERSHIP DUES WILL BE
ACCEPTED.
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Houston Chronicle
of inflation throughout the eco
nomy for all of 1982, the implicit
price deflator, showed an in
crease of only 6 percent com
pared to 1981’s 9.4 percent.
In the fourth quarter alone
the deflator climbed only 4.3
percent, compared to 5 percent
in the third quarter.
The 1982 decline in gross na
tional product was the most se
rious since 1947. 1 hat decline
was a remnant of the economic
deceleration from World War
H’s production peaks.
This time the economic slow
down came after a weak period
of growth following the brief but
intense 1980 recessioi
worse by temporary^
" 1 llv Wmv economjiflfl
o\erall slump that has]
characterized the 19%
about after inflationary),
panston of the economy!
the 1970s that failedtoJ
account fully the costs!
Vietnam War.
t.
Merger leaves 3,60(|
GM workers jobless
• . \ - ; .
■ '
- . v .L~..£x-V NTiG •
' '' 1 t
mM
United Press International
DETROIT — General Motors
Corp. announced today it will
merge its Buick and Fisher Body
divisions in Flint, Mich, by mid-
1985, resulting in the loss of
more than 3,600 jobs in the city
with the nation’s highest unem
ployment rate.
The automaker said the
Buick plans to spend $200 mil
lion to equip the plant to build
front-wheel drive cars for the
1986 model year.
The Fisher Body plant will
continue to operate through the
1985 model year.
Currently, 8,600 people are
employed at the Fisher Body
and Buick plants, 5,200at Fisher
Body alone. After the consolida
tion, nearly 5,000 jobs will re
main at what will be known as
“Buick City," GM said.
“While we deeply regret hav
ing to phase out one of our long
standing facilities, we certainly
hope the community will view
this as a tremendousvottl
ftdence by (ieneral Mom
the ability of our Fliml
f ore e to bring tomaiigm
new passenger car thaiil
for today’s market," sari
President F. James McDol
1 le also said that witkl
project, "Buick wouidl
ceased to lx* a car assemM
8,(>()() jobs probably kou1(|
been lost at the BuickandJ
Flint facilities."
igh schoo
ing Texas
know Aggi<
BRAND NEW Fort
in University Park
Now Leasing defi<
2 Bedroom VA Bath
United Pres
•All Appliances
•Swimming Pool
•Club House
APARTMENTS
■WASHING I
•Laundry Facilities former Cabin
•Close to Campus Wednesday
January Rent FREI
h
Shuttle But Routsfi n . ci b wil l co >
dealing with un
an expenditu
ment benefit p
■ Peter Peters
tuerce secreta
FLOORPLAN A $305/mo. dent Nixon,
FLOORPLAN B $320/mo. Blmnenthal, ft
W/fireplace $345/m0. secretary unde
Studio/condominium • 1050 Sq. Ft. w/waahari^^J^Fd
$375/mo. 0 l sa id they s
Leasing Office-Apt. No. 301-346-2976 or 260*952 for the defeats
Office hrs. Mon.-Sat. M
Sunday by appointment
MSC
-A^GIE
ening about th<
they will occui
nomy grows ii
years,” Peterso
| But Petersf
^pointing tinge:
tration as the t
nomic woes.
■ “Many of
were launched
years ago, 20
more, back w
power and v
blame,” he sail
/