Thursday, June 2, 1983AThe Battalion/Page 7
fexas faces slow recovery
outhwest economy ebbs
'Vb
applies-
) weeks,
istuction
the pool
ation fee
e course
nrposes.
nned
i Station
agement
a. at the
r for the
leal with
essment,
United Press International
[Energy and energy-related in
dustries in Texas, Louisiana,
Arkansas and Oklahoma have
been seriously hurt by declining
oil prices, and the situation will
get worse, an economic forecast-
|i ihg firm reported Tuesday.
I “During the last quarter of
1982, economic conditions with
in the region continued to de
teriorate,” according to the re
port by Chase Econometrics.
I Total employment in the
four states has fallen 2.5 percent
since March alone, the report
said, representing a loss of some
250,000 jobs.
I “While just about all major
employment sectors have been
hit by employment losses, rang
ing from the textile, transporta
tion, computer equipment, and
llectronics industries in the
Manufacturing sector to the
■mstruction and trade sectors in
non-manufacturing, the largest
declines have occurred in those
industries with strong ties to the
aiergy sector,” the report said.
■ From 1978 to 1982, oil prices
grew at a faster rate than did
average prices. Since then,
however, the decline in oil prices
"has been unprecedented,” the
report said, and the real price
has dropped for seven consecu
tive quarters.
“The impact of this decline in
the real price of oil has been
clear cut,” the report said.
Mining employment de
clined by 10 percent since the
The Texas economy
will be slow to pick up
and employment is ex
pected to lag behind the
U.S. average for most
of 1983. Employment
should improve, how
ever, in 1984.
first quarter of 1982, resulting
in the loss of more than 50,000
jobs. Employment in the struc
tural metal products industry in
Texas and Oklahoma has de
clined by 20 percent. There has
been a 40 percent drop in the
mining and oil field equipment
industry in Texas and Okla
homa.
Meanwhile, there has been a
“multiplier impact” on other
sectors of the economy, the re
port stated. Severance taxes col
lected by state governments also
showed a major drop, the report
said.
“The outlook for the region is
not bright for 1983,” the report
said. “Consequently, we expect
the recovery in the region to lag
the national recovery.”
The U.S. is experiencing a
rise in total employment, but
“we do not expect this to occur
within the region until late in the
first quarter of 1983,” the report
said. By the end of 1983, nation
al employment is expected to
rise by 2.3 percent, but by only
1.75 percent in the Southwest.
In Texas:
Depressed oil prices due to
the worldwide recession re
sulted in continuing layoffs in
the mining and oil field equip
ment sectors. Declining national
investment added to problems
in Texas by retarding growth in
the electronics industry. During
the last quarter of 1982, total
nonagricultural employment
fell by 0.8 percent, or a loss of
more than 52,000 jobs. This de
cline accounted for 45 percent
of the employment loss during
the 12-month period ending in
December 1982. During the last
quarter, manufacturing em
ployment fell by 2.8 percent, or
29,700 jobs; oil field machinery
employment lost 12,300 jobs
and another 10,000 jobs were
lost in the metals industry. Only
the finance and service sectors
experienced growth, adding a
total of 10,500 jobs. The largest
absolute loss was in the whole
sale and retail trade areas, where
employment fell by 24,700, the
firm reported.
Outlook: The Texas eco
nomy will be slow to pick up and
employment is expected to lag
behind the U.S. average for
most of 1983, the report pre
dicted. Employment should im
prove, however, in 1984. By
1985, the impact of rising de
fense spending and high tech
nology should offset the weak
ness of the energy sector. Unem
ployment will remain relatively
high — expected to rise to 8.4
percent during the first half of
1983 and then fall very slowly to
just under 7 percent by the end
of 1985. Even that rate is much
higher than the 4 and 5 percent
, tht
rates of the late 1970s
reported.
te firm
rvations
office at
New laws benefit consumers
United Press International
■ AUSTIN — Consumers
l P plained an unprecedented in-
jiferest rate break, and taxpayers
held their own during the 68th
Hssion of the Texas Legislature,
but the real battle for taxpayers
may still be ahead.
I Though the Legislature ad
journed without addressing
Gov. Mark White’s proposal for
a $1.2 billion tax increase to
fund teacher salary raises, the
issue is assured of being at the
forefront of a special session this
summer.
I “I think it is imperative that
the citizens of the state feel like
the Legislature did its best to
produce a bare bones budget,”
aid Robert Strauser, executive
ice president of the Texas
Lssociation of Taxpayers.
Strauser also applauded the
.egislature for rejecting prop-
sals to increase the severance
ax on oil and gas and hike the
chool tax burden on industry.
While taxpayers may have
>een heartened that no increase
vas able to make it to the House
loor, consumer advocates are
:lated at legislation that failed to
sven reach a vote in the Legisla
te.
“The homestead legislation
jdidn’t make it out of committee
in either the House or Senate,”
aid Jim Boyle, spokesman for
Modern
umboldt
i writers
iociation
arch and
Idwide.
om Sep-
ds
litecture
an, all of
mention
of Busi-
I by the
edinthe
15 states
r. Wells'
ts in the
tier’s re-
ikagoin
for this
1 McDo-
the Texas Consumer Associa
tion. “We consider that a real
plus.”
The legislation proposed to
repeal the current ban on a
homestead being used to secure
a loan other than a mortgage.
But Boyle said the most im
portant consumer measure
addressed by the Legislature
was a bill passed and already
signed into law by White — the
lowering of the interest rate ceil
ing on bank credit cards.
“It’s certainly the No. 1 piece
of consumer legislation,” Boyle
said. “I think it’s significant that
for the first time this century a
state has lowered interest rates.”
Under the new law, bank cre
dit card interest rates will be
allowed to float between 14 and
22 percent, with the actual level
determined by the rate paid on
U.S. Treasury bills. Under cur
rent T-bill rates, the interest rate
would be 16.5 percent — the
lowest in the nation.
The 1981 Legislature set the
bank credit card interest ceiling
at 24 percent. The lower rates
are expected to be reflected in
billings this month.
“Even though it’s only one
area of credit, it sends a signal to
lenders that overreaching and
unresponsiveness are not the
order of the day,” Boyle said. “I
think the ultimate impact may
be far greater.’
Reform of the Public Utility
Commission — another piece of
legislation dear to consumers —
didn’t go far enough, Boyle said,
but did allow some gains. The
groundwork for regional hear
ings was established and an in
dependent public counsel was
establihed. However, Boyle cri
ticized the failure of the bill to
call for an elected commission,
weak language in a restriction
on construction work in prog
ress being included in rate bases
and a lack of adequate funding
for the public counsel’s office.
“The language is not tough
enough on CWIP,” Boyle said of
the provision which allows
CWIP to be included in a rate
base if the PUC determines it is
vital to a utility’s financial integ
rity.
“Why should the ratepayer be
loaning money to a utility when
the utility is in a much better
position to go out and borrow
elsewhere?” he said.
Boyle also pegged a bill allow
ing electronic transfer of funds
from a consumer’s personal
account to the account of a retail
merchant as one which will have
immeasurable long-range impli
cations, saying it will affect how
people will spend money.
“They’re going
more,” he said.
to spend
>s Sclent
.2 portaW 1
nd20ta|*
rawer in*
'g'
nd vario*
a room
ambler
dock
in 5.
Lot
srsity
Ivd.
87
Carroll's
Baskets & Wicker
MEXICAN DRESSES
16.99 & up
Price Good with Ad Only
Post Oak Mall next to Sears
THE
3606 S. COLLEGE AVE.
THE NEWEST
COUNTRY WESTERN
HOTSPOT
IN BRYAN-COLLEGE STATION
FEATURING DRAFT BEER
&
THE BEST MIXED BAR DRINKS
SEPARATE GAME ROOM & DANCE HALL
HAPPY HOUR 4-8 MON -THURS. w/$1.00 BAR DRINKS & NO COVER!!
EDI CAT Til I inn / SORRY $1.00 COVER- \
FRI. - SAT. OPEN TILL 1.00 tSTILL THE LOWEST IN TOWN/
COMS JOIN US ?
The smartest move
you can make.
(next to going to A&M, of course)
OPEN HOUSE
3 PM 'til Dark Weekdays
10 AM 'til Dark Sat. and Sun.
Wood Brook Condominiums
are located in an area known for
its investment potential, just off
Harvey Road across from the
Woodstone Shopping Center.
• fireplaces with raised hearths
or brick mantles
• cathedral ceiling in master
bedrooms
• two ceiling fans
• built-in kitchen appliances
• hot tub and swimming pool
• private patios
L'.v J*. v v ...
1904
Dartmouth
Poet
Oak
Mall
Woodstone
Shopping
Center
Hwy 6
offered by
brazosland
realty services, inc.
846-5735
Another development by
Sypcon Corp.
STATE
iirMp
Wood Brook
YES, send more information to:
□ Myself □ My Parents
NAME
CITY
PHONE
Clip & mail to: BRAZOSLAND REALTY.
INC., 4103 Texas Ave., Bryan, TX 77801.
Making waves
How do you spell relief for a hot cools off by strolling through
summer day? Charlie Burns, 3, Rudder Fountain Wednesday.
STA Y IN SHAPE THIS SUMMER
Exercise All Summer (thru August 31) for ONLY $60
(or buy one single 6-week summer session for only $30)
At BODY DYNAMICS
College Station’s most
exciting exercise studio
Classes offered 7 days a week
Exercise often as you like,
whenever you like.
Call 696-7180 or stop by Body
Dynamics in the Post Oak Vil
lage on Harvey Road.
BODY DYNAMICS
WSC Guttf Centen
SUMMER 1983 CRAFT WORKSHOPS
REGISTRATION BEGINS MONDAY, JUNE 6,10 AM, IN THE CRAFT CENTER
Eligibility: Anyone over 18 years of age can enroll In our workshops. Fees for TAMU students are set at $1.50/lnstructlonaI hour, because our operation
Is subsldlxed by student service fees. Fees for non-students are set at $1.80/1 nstructIona 1 hour, and all non-students nust also purchase
a $2.00 Craft Center Identification card. All fees must be paid when registering.
Refunds: Workshop fees will be refunded 1001 four days prior to the first class meeting, provided your cancellation does not place the class below
Its minimum enrollment of five students, and 01 after the four days prior to class limit. Full refunds are Issued If the class Is cancalled.
Day
MONDAY
, Class
0, t es
T imes
Location
Student
Fee
Non-Student
Fee
Instructor
Beginning Pottery
June 13.20,27
July 11,18.25
5:00-7:00 p.m.
Craft Center
$18.00
$21.00
Ann Oobbs
Beginning Pottery
June 13.20,27
July 11,18.25
7:30-9:30 p.m.
Craft Center
$18.00
$21.00
Ann Oobbs
Gas Kiln Construction
June 27 and
to be arranged
7:00-9:00 p.n.
MSC 137A
$18.00
$18.00
Brian Dougan
Qul1 ting
June 13,20.27
July 11,18.25
7:00-9:00 p.m.
KSC 137
$18.00
$21.00
Norma Metier
Basic Watercolor Techniques
June 20.27
July 11,18,25
Aug. 1
7:30-9:30 p.m.
MSC 137A
$18.00
$21.00
Betty Grahem
Stained Glass Suncatchers
June 13,20,27
July 11
7:00-9:00 p.m.
Rumors
$12.00
$14.00
llhda Thompson
Beginning Stained Glass
June 13.20.27
July 11.18
7:00-9:30 p.m.
Craft Center
$18.75
$21.25
Connie Hester
Furniture Construction
June 13.20.27
July 11.18.25
Aug. 1,8
7:00-10:00 p.m.
Woodshop
$20.00
$20.00
Wayne Helton
Introduction to Calligraphy
June 14,21.28
July 12.19.26
7:00-9:00 p.m.
MSC 137
$18.00
$21.00
Stacla Ogles-Smith
Basic Drawing
June 14.21.28
July 12.19,26
6:00-8:00 p.m.
MSC 137A
$18.00
$21.00
Helen Finney
Intermediate Pottery
June 14,21,28
July 12
6:00-8:30 p.m.
Craft Center
$12.00
$14.00
Ann Oobbs
Batik
June 14.21.28
July 12.19.26
6:00-8:00 p.m.
Craft Center
$18.00
$21.00
Lucia Athens
Evening of Needlework
June 14
7:00-9:30 p.m.
MSC 137
$ 3.75
$ 4.25
Cheryl Earp
Evening of Needlework
July 12
7:00-9:30 p.m.
MSC 137A
$ 3.75
$ 4.25
Cheryl Earp
Beginning Stained Glass
June 14,21.28
July 12,19,26
7:00-9:00 p.m.
Craft Center
$18.00
$21.00
Linda Thompson
Woodshop Orientation
June 15,22,29
July 13.20.27
3:00-5:00 p.m.
Woodshop
$18.00
$21.00
Wayne Helton
Woodshop Orientation
June 15,22,29
July 13.20.27
7:00-9:00 p.m.
Woodshop
$18.00
$21.00
Wayne Helton
Beginning Stained Glass
June 15,22.29
July 13.20,27
7:00-9:30 p.m.
Rumors
$18.75
$21.25
Connie Hester
Glass Etching
June 15,22
6:30-8:30 p.m.
Craft Center
$7.50
$ 9.00
Deborah Brown
Glass Etching
July 13,20
6:30-8:30 p.m.
Craft Center
$ 7.50
$ 9.00
Deborah Brown
Watercolor Painting
June 22,29
July 13.20,27
6:00-8:00 p.m.
MSC 137
$14.00
$17.50
Helen Finney
Beginning Pottery
June 15,22.29
July 13,20,27
4:30-6:30 p.m.
Craft Center
$18.00
$21.00
Graye Lynn Hodgson
Intermediate Pottery
June 15,22,29
July 13,20,27
7:00-9:00 p.m.
Craft Center
$18.00
$21.00
Michael Hodgson
Hatting and Framing
June 15,22,29
7:00-9:00 p.m.
Craft Center
$ 9.00
$10.50
Russell Cox
Matting and Framing
July 13.20.27
7:00-9:00 p.m.
Craft Center
$ 9.00
$10.50
Russell Cox
Dried Flower Suncatcher
July 27 -
Aug. 3
6:00-8:00 p.m.
Craft Center
$ 7.50
$ 9.00
Deborah Brown
Advanced Calligraphy
June IS,22',29
July 13,20.27
7:00-9:00 p.m.
MSC 137A
$18.00
$21.00
Stacla Ogles-Smtth
Advanced Pottery
June 16.23,30
July 14.21
7:00-9:30 p.m.
Craft Center
$18.75
$21.25
Brian Dougan
Intermediate Stained Glass
June 16.23.30
July 14.21.28
7:00-9:30 p.m.
Craft Center
$18.75
$21.25
Connie Hester
Acrylic Painting
June 23.30
July 14.21.28
7:00-9:00 p.m.
MSC 137
$14.00
$17.50
Stacla Ogles-Smith
Beginning Air Brush
Techniques
July 14.21.28
Aug. 4
6:00-8:00 p.m.
Craft Center
$11.50
$14.00
Helen Finney
Casting: Jewelry and small
Sculpture
July 14,21.28
Aug. 4
6:00-8:00 p.m.
Craft Center
$12.00
$14.00
Pamela Hamlette
Copper EnamelIng
June 16.23.30
6:00-8:00 p.m.
Craft Center
$10.00
$11.50
Pamela Hamlette
Hatting and Framing
June 16.23,30
7:00-9:00 p.m.
Craft Center
$ 9.00
$10.50
Russell Cox