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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Nov. 2, 1983)
: Page 10/The Battalion/Wednesday, November 2, 1983 ''Stock values surge dramatically Lubbock to absorb TI layoffs United Press International LUBBOCK — The immedi ate impact of 1,000 layoffs at the Texas Instruments home com puter plant was a dramatic surge in stock value, but business lead ers said Tuesday the latest assault on the West Texas eco nomy would have few long-term effects. The electronics giant Mon day furloughed one out of every three workers at its Lubbock plant, after announcing Friday computer business that contri buted to a $110.8 million third quarter loss. The news sent its stock soar ing $22.75 from its Friday clos ing price to a Monday close of $124.50 a share on 1,898,700 shares traded, placing it second on the active list. That represented a 22.4 p cent increase in the value of shares. But in Lubbock, the state em ployment office was bracing for er- TI it was getting out of the home a busy week trying to place 1,000 semi-skilled workers in addition to those who lost their jobs in last week’s Final shutdown of a Lit ton electronics plant. “TI has worked with us and has scheduled interviews alphabetically beginning Wednesday and continuing through Friday,” said Velma Burkham, Texas Employment Commission office manager. “We have jobs, but the em ployment may not be in areas that some of these people want,” she said. The Litton plant closing was a phased shutdown over the past five months that put 400 to 450 people out of work, the last 115 layoffs i MSC Cafeteria Now Better Than Ever. You Will Be Pleased With These Carefully Prepared and Taste Tempting Foods. Each Daily Special Only $2.39 Plus Tax.j “Open Daily” Dining: 11 A.M. to 1:30 P.M. — 4:00 P.M. to 7:00 P.M layoffs occurred last Friday, she said. Jim Cummings, vice presi dent of the First National Bank, said Lubbock’s economy was di verse enough — based on agri culture, manufacturing and energy — to weather the shock. “I think we have enough con fidence in TI and their commit ment to West Texas to take at face value their announce ment,” Cummings said. “They’ll have the plant back up to full employment.” That phasing in of other lines could take up to a year, Cum- said, TI workers had been through furloughs before and most would have figured the prospect into their personal budgets. “Even in the recession of the past 18 months our mortgage rate has been significantly lower than the national average,” he said. “And housing out here, dol lar for dollar, is still a good buy. You don’t have the $1,200 a month payments you have else where in the state. Still, on the personal level, for the family who’s counting on this income, it could be a disaster.” Texas Instruments stock lost tilings said. In the meantime, he $50.75 a share on June 6 and 7 ITaTTENTION AGGIEsTg MONDAY EVENING SPECIAL Salisoury Steak • -- with Mushroom Gravy Whipped Potatoes Your Choice of One Vegetable Roll or. Corn Bread and Butter Coffee or Tea TUESDAY EVENING SPECIAL Mexican Fiesta Dinner Two Cheese and Onion Enchiladas w chili Mexican Rice Patio Style Pinto Beans Tostadas Coffee or Tea One Corn Bread and Butter WEDNESDAY EVENING SPECIAL Chicken Fried Steak w cream Gravy Whipped Potatoes and Choice of one other Vegetable Roll or Corn Bread and Butter Coffee or Tea N^ed a place to rent for your sorority or private parties? Sons of Hermman Lodge is the place. For additional information call: Don Roberts 822-4238 or 845-0336 THURSDAY EVENING SPECIAL Italian Candle Light Spaghetti Dinner SERVED WITH SPICED MEAT BALLS AND SAUCE Parmesan Cheese - Tossed Green Salad Choice of Salad Dressing — Hot Garlic Bread Tea or Coffee FOR YOUR PROTECTION OUR PERSONNEL HAVE HEALTH CARDS. FRIDAY EVENING SPECIAL FRIED CATFISH FILET w TARTAR SAUCE Cole Slaw Hush Puppies Choice of one vegetable Roll or Corn Bread & Butter Tea or Coffee Lease it as low as 9.9% A.I’.R up to 36 months. (on selected models with approved credit) SATURDAY NOON and EVENING SPECIAL Yankee Pot Roast Texas Style (Tossed Salad) Mashed Potato w gravy Roll or Corn Bread & Butter Tea or Coffee “Quality First 7 SUNDAY SPECIAL NOON and EVENING ROAST TURKEY DlNNERl Served with Cranberry Sauce Cornbread Dressing Roll or Corn Bread - Butter - Coffee or Tea Giblet Gravy And your choice of any One vegetable * BENCHMARK LEASING, INC. 511 University Drive East/College Station/260- 9860 U.S. grain releasg urged by senatoi United Press International WASHINGTON — Sen. Lloyd Bentsen, D-Texas, Tuesday urged a Senate com mittee to investigate con tinuing discrepancies in the quality of government-owned grain stored in a Plainview ele vator. “On one hand, you have the Department of Agricul ture saying they have less than 1 percent of corn of the lowest quality and then you have the Texas Department of Agri culture saying 53 percent,” Bentsen said in a news confer ence. “That’s a big discrepancy.” d he requested a Ct Bentsen sai Senate Agriculture Commit tee investigation in identical letters to Chairman Jesse Helms, R-N.C., and ranking member Walter Huddleston, D-Ky. Corn stored in Texas and other states since the Russian grain embargo at a taxpayer cost of millions has been the object of a struggle between the USDA and Texas officials who want it released to drought-stricken farmers and ranchers forced to slaughter livestock because of a lack of affordable feed. Texas officials filed suit Tuesday to force the Agricul ture Secretary John Block to release the corn. “That shows the increasing concern of all parties con cerned,’’ said Bentsen. “Hopefully, we can move for ward on the legislative process quickly as well. But one way or another, we’re going to see that farmers get some grain to feed their cattle. They need feed, not another bank note.” Bentsen, who pushed through an amendment re quiring Block to release the corn, said chances are “excel lent” the House will pass simi lar legislation and a final ver sion will be accepted by Con gress before the expected Nov. 18 adjournment. Grain Storage Elevaii Plainview. While Bentsen wash a news conference c grain issue, Block’s let rived at the senator’s but Bentsen did notseeii] afterward. “It doesn’t respond of course, to concerdj the disparity betweenw. USDA inventories andi. tions reveal,” said Be aide Jack DeVoreJ attempts to dispute the ings of Commissioner, Hightower by contrasiji with an inspection of the vator done by emptom Block’s two-page lead unofficial inspections^ vator employees showed matically different” fin the amount of damaged He also said a March 19 speclion by government cials indicated no great] terioration since the! 1982 check. Bentsen, however,! been stressing the diso cies found in (hequality government-owned cor ing USDA inspectio January 1981 and 1982. He said the 1981 in tion showed only 9 m bushels of top-quality, when the inventory cafe 13.5 million bushels,ant ,,.' 4 million bushels of lowf; l corn when the inventor ~ led for only 733,000 bua \j "The elevator at that; £ was also short by bushels on its total invrT 11 of government-owned# /-I he said. Block said the dry cracked between the tid| was acquired in others and its shipment to Plan for storage, but its nutrit^ quality had not chaqUe Bentsen said he found" 11 F “very hard to believe.’ >A1 Bentsen last month asked Agriculture Secretary John Block to look into the appa rent sharp decline in the quali ty of the 22.6 million bushels of corn stored at the P.L.B. Bentsen said the 1982 USDA inspct 75 , showed only 6.4 milv" 1 bushels of top-qualiu j”’ when the inventory siillJlSL for 13.5 million bushels. >UK there were 3.6 million buy 11 of low-grade corn when c ^ 10,000 such bushels wtrT 0 the total USDA inventor MSC TOWN HALL presents AND THE CORAL REEFER BAND ONE Wednesday, Nov. 2- 8pm G. Rollie White Tickets 8.50, 9.50, 10.00 N< WITH sctcwnhall. nor