The Battalion. (College Station, Tex.) 1893-current, January 16, 1985, Image 12

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Page 12/The BattalionAVednesday, January 16, 1985
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Civilian nominee wins
Brazilian presidency
Associated Press
BRASILIA, Brazil — Opposition leader Tancredo Neves, a 74-
year-old centrist politician who has pledged to “change Brazil,” to
day was elected the nation’s first civilian president in 21 years.
The Electoral College gave Neves, an opposition party leader,
the 344th of its 686 votes after nearly two hours of voting, guar
anteeing his victory. News media predicted Neves’ final total would
be close to 500.
Neves, who in 50 years of politics has held offices ranging from
city councilman to prime minister, defeated Congressman Paulo Ma-
luf, 53, candidate of the military-backed party.
Celebrations immediately began in South America’s most pop
ulous country. Outside the twin-domed Congress building where the
election took place, thousands of Neves backers cheered, ignited
firecrackers and honked car horns. They waved green-and-yellow
Brazilian flags and chanted “Tancredo, Tancredo, Tancredo!”
Even before the voting started, Maluf made a conciliatory
statement. He said he felt “victorious,” because “my candidacy
helped redemocratize Brazil.”
President Gen. Joao Figueiredo, 67, author of a plan to gradually
phase out military rule in Brazil, followed the voting from a hospital
bed in Rio de Janeiro, where he was recovering from a back opera
tion.
Both candidates promised to restore presidential elections by
popular vote of the nation’s 134 million people. Among the stagger
ing problems facing the winner are a foreign debt of more than $100
billion, inflation running at about 220 percent annually and high un
employment.
Senate expected
to question Meese
Associated Press
WASHINGTON — The leading
Senate critic of Edwin Meese III said
Tuesday “disturbing questions re
main” about the attorney general-
designate’s ethical conduct and
promised to raise them when the
Senate Judiciary Committee re
sumes hearings Jan. 29.
“I will raise additional questions
prompted by the (independent
counsel’s) report,” Metzenbaum
said, referring to the investigation
that found no basis for prosecuting
Meese but did not address whether
he violated ethics regulations.
Metzenbaum would not comment
on specific topics he planned to
raise. But Democratic sources in the
Senate Judiciary Committee said
they ranged from Meese’s Army Re
serve promotion to his financial
relationship with people who re
ceived federal jobs.
The sources spoke only on condi
tion they not be identified.
Majority Republican senators said
in recent interviews they believe the
g resident should get his choice and
emocrats, without committing
their votes, say they expect confir
mation.
After allegations of improper con
duct were made against the presi
dential counselor during hearings
last March, an independent counsel
was appointed under the Ethics in
Government Act and a special grand
jury convened.
Washington lawyer Jacob A.
Stein, the counsel, reported on Sept.
20 there was no basis to prosecute
Meese, but declined to say whether
he thought Meese’s actions violated
conflict of interest regulations.
Retail sales
down slightly
in December
Associated Press
WASHINGTON — Retail sales
slipped slightly in December, but the
nation’s factories were humming to a
sharply faster beat and analysts said
the two government reports to
gether spell more relief for the econ
omy.
Except for sagging business in
new-car showrooms, the December
decline of 0.1 percent in retail sales
reported Tuesday by the Commerce
Department would have been a 0.5
percent increase — even after the
raw figures were adjusted down
ward to account for the Christmas
shopping season.
For all of 1984, retail sales were
up 10.4 percent over the previous
year.
The Federal Reserve’s industrial
production report, meanwhile,
showed that output at the nation’s
factories, mines and utilities shot up
0.6 percent in December, the biggest
increase in five months.
“The two pieces together are just
confirmation of our view that the
economy did touch bottom in Octo
ber and has been growing at a pretty
healthy rate since then,” said Robert
Wescott of Wharton Econometrics in
Philadelphia.
While the government was plug
ging two more pieces into the eco
nomic puzzle, the nation’s largest
banks cut their prime interest rate a
quarter point to 10.5 percent and the
stock market continued on an up
ward roll that started last week.
The prime rate is now at its lowest
level in 17 months and the stock
market the highest since November.
White House spokesman Larry
Speakes said: “The economic record
in industrial production and retail
sales for 1984 is an indication that
continued economic growth is in
store for the coming year. Coupled
with declining interest rates, this
speaks well for the American econ
omy.”
Commerce Secretary Malcolm
Baldrige noted that retail sales rose
at an annual rate of 10.5 percent
during the last three months of the
year, but he acknowledged that pace
might not be sustained.
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