The Battalion. (College Station, Tex.) 1893-current, August 30, 1984, Image 21
makei! feed tlit Center, Gentile, ln g stu. ills and lents in. tn conn- 'es, who play the- d fantiy 'g conn- ft Wortb e me's run mptionol r.” ’s secotic cusing on ration atid roduction keting u' itracuK •S. oOand process ol ‘reign Qj ditsshity 1 managt- iced otn ■ board ol [acdonaii tes in the 561.6 ml- ar earlier r has not maid said still got i r 3 4 ;T Thursday, August 30, 1984AThe Battalion/Page 7B Varied consumer rates call for aware shoppers United Press International NEW YORK — Consumers could be hit with retroactive interest charges on automobile loans and credit card purchases if a recently enacted New York law spreads na tionwide. “The new law is important on a national level because New York is considered a landmark state in bank ing deregulation and reform,” said Marla Kaplan, associate director of Bankcard Holders of America, a Washington-based non-profit con sumer group. “Other states are watching to see what New York does in this area.” The New York law, signed in early August by Gov. Mario Cuomo, allows banks to replace fixed finance charges with a variable index of in terest rates that can change quarterly and be applied retroactively for the quarter. The charges can be applied to all consumer loans and credit lines, in cluding credit card purchases and automobile loans. Citibank said it is looking at the variable rate consumer loans in some areas, but has not yet decided whether to offer them. A spokeswo man indicated if it were offered it would be optional. Chase Manhattan said it has no plans at this time to offer variable rates on consumer loans or on its bank cards. Variable-rate mortgages are a fact of life. But buying a house is often a once-in-a-lifetime deal and consum ers are more likely to be made aware of potential hikes in their monthly charges since, if for no other reason, the lender is anxious to assure that the home buyer can afford the mort- gage. But an automobile also is a major purchase these days and a two per centage point hike in payments, charged retroactively, could put them right out of reach. Banks which impose the variable charges are required to inform bor rowers of them. But Kaplan said, “The guy who has just seen the car of his dreams would say ‘yeah yeah’ and not really listen. We want to make this purchaser aware enough before he sees that car that he can shop for a better deal.” Consumers use credit cards for smaller, often impulse, purchases where they wouldn’t be as likely to think in terms of additional charges, but which can add up to a hefty amount if credit lines are used to the hilt. “The prime rate (the base busi ness loan rate) doesn’t really affect consumers directly,” Kaplan said. “But this new law does and it’s going to make it harder to make intelligent choices in purchases. There’s really a big difference between paying 18 percent and 21 percent interest over a year.” BHA, which has roughly 100,000 members nationwide, provides edu cational and informative newsletters, pamphlets and money management guides for consumers. Kaplan said credit card fees and charges vary widely nationwide, sometimes between two banks across the street from each other. “You can go to a bank in Missouri where they are not allowed to charge fees for credit cards but where you might pay higher interest charges.” This might not be wise for a per son who uses a card constantly and runs a hefty balance. Hunger task force visits Southwest United Press International ALBUQUERQUE, N.M. — Mem bers of the Physician Task Force on Hunger in America plan field visits to New Mexico, Texas and the Na vajo Reservation next week, it was announced Tuesday. Dr. Larry Brown, chairman of the task force, said the doctors will visit homes, health clinics, soup kitchens, churches and schools. The task force has already compiled information from New England states and seve ral southern states. “Hunger has made a dramatic re appearance in America,” Brown said. “Because of this, some of the most capable doctors in the nation have undertaken this effort to deter mine how serious this problem is and how it’s affecting people’s health.” The task force members will ar rive in Albuquerque next Monday. The next day, they will divide into two groups with one visiting various shelters, schools and other sites in the city and the other group going to Gallup, New Mexico, Window Rock, Arizona, and Navajo communities to focus on hunger on the reservation. Both groups will be present for a public hearing in Albuquerque Tues day evening, after which the task force members will fly to Texas for three days of visits and hearings. Texas cities that will be visited in clude El Paso and Houston along with several communities in the Rio Grande Valley. The task force, formed earlier this year, is based at Harvard University and funded by the Field Founda tion. City may get new independent TV station United Press International WICHITA, Kan. — The city’s first commerical independent tele vision station in 30 years could begin broadcasting by the first of the year, officials said. The start-up date for KSAS, which will be broadcast on UHF (ul tra high frequency) Channel 24, can be reached if equipment deliveries and construction go as planned, said R. Alan Rudy of Houston, president of Columbia Communications, the channel’s licensee. The station is expected to reach consumers about 50 miles from its antenna site near Colwich. Construction of the 1,000-foot tower to house the 6-ton antenna is set to begin within a few weeks, Rudy said. ■Offices, and. studios for the $8.5 million station are expected to be lo cated in downtown Wichita, Rudy said. The first-year operating bud get for the station, which plans to employ a 50-member staff, is ex pected to be $3.5 million. Rudy and Lee Hanna, executive vice president of Columbia, said they are negotiating for programming that would include movies, sports, news, old network sitcoms, and some religious shows, during an initial broadcast day from 6 a.m. to mid night. Hanna is based in New York. Wichita’s first independent sta tion, KEDD, shutdown in 1956 after operating three years. /T NOW HIRING Good benefits. Good pay! Free uniforms and food! Flexible hours. Apply now! WORK FOR NUMBER ONE! 801 University Dr. College Station See a Manager for an application. 2420 TEXAS AVE., COLLEGE STATION 825 Villa Maria Road Bryan McDofta(der\ r\ &C/ou.l V Y LOUPOT’S HAS USED BOOKS! SHOP EARLY & SAVE WITH USED BOOKS FROM LOUPOT’S \ If you get the wrong book Loupot will refund your money up to 2 weeks after the semester begins. roiouporsq? NORTHGATE VTTSTSTfSRiVSTvTSHHHH (At the corner BI■ across from the Post Office) Plenty of parking behind the store SHOW YOUR FOLKS HOW SMART YOU ARE * Save Up To 50% On Long Distance Calls If Saving Money Rings a Bell Call STAR TEL 779-2830 MOONLIGHT MADNESS Thurs., August 30 Till 10:00 P.M. Summer Suits Dresses 60%-70% off /3U11 Summer Sportcoats Long Sleeve Shirts $20. 00 Summer Trousers $20 00 & 25 00 Short Sleeve Shirts $20. 00 All Swim Suits $8. 00 Knit Shirts $15. 00 All Summer Shorts $15. 00 Shorts $15. 00 All Summer Knits $15. 00 Skirts $25. 00 All Summer Sportshirts $15. 00 Pants $15. 00 Group Long Sleeve Dress Shirts Ties 1 /2 0ff $15. 00 Sashes V2 off Summer Merchandise '^CoH8S >/ Culpepper Plaza