Page 6fThe BattalionAThursday, October 15, 1987
TALL TAS'JLl09\CS9-C0‘W
'Ihurscfay, October 15, 1987
7:30 p.m.
%pom 224 ‘MSC
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Analysts say worst
is over for Texas
DALLAS (AP) — Investors
should begin cashing in on upcom
ing investment opportunities in
Texas now that the worst of an eco
nomic slump is over, according to a
Wall Street brokerage firm.
“My suspicion is that people in the
investment community that really
don’t know Texas well will say it’s
time to take a look at Texas again,”
Robert Hopkins of Salomon Broth
ers Inc.said.
A report by the New York com
pany predicts the worst is over in
Texas now that the economy “bot
tomed out.”
In the last two years, rising unem
ployment and decaying economic
conditions have plagued the state.
But the firm’s analysts predict Dallas
will be the state’s first metropolitan
area to rebound from the state’s eco
nomic slump.
Hopkins, an analyst who worked
on the report, says unless the na
tional economy takes an unexpected
downturn or oil prices tumble again,
the state likely will see slow, steady
economic growth over the next few
around at some point. That’s what
we tried to answer,” Hopkins told
the Dallas Morning News. “It’s
somewhat unique — 15 years ago
when New York was in the bottoms,
nobody was asking when New York
was going to come back.”
The report cited J.C. Penney Co.’s
pending move from Manhattan to
Dallas as an indication that Texas is
still viewed as an affordable, attrac
tive state for business.
“Of all the major metropolitan
areas in Texas, the broadly diversi
fied Dallas economy is now viewed as
a desirable, yet inexpensive business
location; thus, it seems the most
poised for economic recovery,” the
report said. “Office users seeking
lower costs with a strong labor pool
will find Dallas most attractive.”
Texas lost 194,000 jobs in the last
three years, its unemployment rate
climbed to 11.1 percent and office
vacancy rates peaked at 30 percent
in some urban areas, the report said.
Personal income fell to about 10 per
cent below the national average be
tween 1982 and 1986, it said.
years.
“We wanted to make the case that
it is now time to seriously consider
Texas investments,” Hopkins said.
“Everybody is asking us, ‘When is
Texas is going to turn around?’ We
feel Texas has bottomed out and
that’s important for our clients to
know.
“There is a fundamental, positive
attitude that Texas is going to turn
But Salomon Brothers cautioned
that real estate and financial areas
still show signs of trouble, citing
commercial construction as an area
where continued declines are proba
ble.
Texas’ banking sector, which has
lost 10,000 jobs since 1985, could
provide further problems for the
overall economy, Salomon Brothers’
analysts warned.
What’s up
Thursdsay
NARCOTICS ANONYMOUS: will meet at 8:30 p.m. in 145
MSC.
ALCOHOLICS ANONYMOUS: will ujeet at 12:15 p.m. Call
845-5826 for the location of the meeting.
ADULT CHILDREN OF ALCOHOLICS: will meet at 6 p.m.
in 145 MSC.
SOCIOLOGY CLUB: will take a Y earbook photo at 7:50 p.m.
in Zachry.
WRITING OUTREACH: J.J. Dent will discuss “Applyingfor
the job: The Letter of Application” at 6:30 p.m. in 110
Blocker.
MSC BLACK AWARENESS COMMITTEE: will have a fall
fashion show at 7:30 p.m. in 224 MSC.
MANAGEMENT 481: J. Thomas Hairston Jr. will speak at
10 a.m. in 114 Blocker.
HILLEL, JEWISH STUDENT FOUNDATION: will meet at
7:30 p.m. at the Hillel Building, 800 Jersey St.
INTRAMURAL SPORTS: S wim meet captains will meet at 6
? .m. in 167 Read, volleyball captains wall meet at 5 p.m. in
01 Rudder and flickerball captains will meet at 5 p.m. in
167 Read.
SOCIETY OF WOMEN ENGINEERS: will take pictures for
the Aggieland at 7:30 p.m. in the Zachry lobby.
ARGENTINE CLUB: will meet at 7 p.m. in 704 A-B Rudder.
INTERNATIONAL DEVELOPMENT FORUM: Dean Kun
kel will speak at 7 p.m. in 607 Rudder.
COLOMBIAN STUDENT ASSOCIATION: will meet at 7
p.m. at Mama’s Pi/./.a on Texas Ave.
TAMU CYCLING TEAM: will meet at 7 p.m. in 501 Rudder.
NAVIGATORS: Shane Saunders will discuss “Your Peer
Group: Friend or Foe?” at 7:30 p.m. in the Corps Quad
rangle lounge B.
Items for What's Up should be submitted to The Battalion,
216 Reed McDonald, no less than three working days be
fore desired publication date.
Houston’s apartheid law causes controversy
HOUSTON (AP) — The city’s
anti-apartheid ordinance may keep
some publications off library shelves
as w'ell as stop the zoo from buying
antidotes for rare snakebites, offi
cials say.
City Council members approved
the ordinance in July 1986 after
weeks of emotional debate. Key el
ements of the ordinance severely
limit city government dealings with
banks and businesses that do busi
ness with the South African govern
ment.
But some city council members
say a few of the effects of the law
stray from the intended purpose —
to strike a blow against apartheid. In
recent months, the directors of city
library and park departments have
had problems with the ordinance.
Many types of exotic snakebite an-
tivenin that the city zoo keeps are
only available through companies
that do business with South Africa,
Parks and Recreation Director Don
ald Olson said.
“It’s a matter of having it around,”
Olson said, adding that the zoo is of
ten the only source of many exotic
snakebite treatments in the Houston
area.
Much of the zoo’s supply is reach
ing the end of its shelf hfe, he said.
Library Director David Hening-
ton noted in April that his depart
ment had to request that all 3,5u0 of
its vendors sign affidavits denying
ties with South Africa. He predicted
that the library would lose many
publishers unable to sign the affida
vit.
True to the predictions, Hening-
ton’s assistant, Margaret Green, said
publications such as the Wall Street
Journal cannot comply becauseth?
use a reporter in South Africa. Eva
Congressional Quarterly and ils
Encyclopedia Britannica cants
comply, she said.
“Our concern is we’re unable»
serve the c iti/ens of Houston,"sk
said.
Councilwoman Eleanor Tin»
said she thinks it would Ik
censorship if some publications wit
withheld because of their source
“We really do want the U'aJIStrR
Journal and the Encyclopedia Bn
tannica,” Tinsley said.
Never a dull moment.
MSC Town Hall Presents
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WORK
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•EJVUtouR
With Special Guest The dB’s
Thursday, November 19th, 8 p.m.
G. Rollie White Coliseum
Tickets $10 - available at 10 a.m.
Monday, October 19th, at
MSC Box Office (845-1234) or at Dillards.