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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Sept. 6, 1988)
Page Q/The Battalion/Tuesday, September 6, 1988 YESTERDAYS Daily Drink & Lunch Specials 1 Billiards • Darts • Shuffleboard Near Luby's / House dress code 846-2625 OFFICIAL NOTICE TO TEXAS A&M UNIVERSITY STUDENTS In the past, certain information has been made public by Texas A&M University as a service to students, families, and other interested individuals. Under the “Family Educational Rights and Privacy Act of 1974”, the following directory information may be made public unless the student desires to withhold any or all of this information. Student’s name, address (local and permanent), telephone listing, date and place of birth, sex, nationality, race, major, classification, dates of attendance, class schedule, degrees awarded,awards or honors, class standing, previous institution or educational agency attended by the student, parent’s name and address, sports participation, weight and height of athletic team members, parking permit information, and photograph. Any student wishing to withhold any or all of this information should fill out, in person, the appropriate form, available to all students at the Registrar’s Office, Room 112, Records Section, no later than 5:00 p.m., Friday September 16,1988 Donald D. Carter Registrar MSC JORDAN INSTITUTE FOR INTERNATIONAL AWARENESS YOU ARE HERE ...but don’t you want to know about the REST OF THE WORLD?! INFORMATION SESSION FOR INTERESTED STUDENTS: Sept. 7, 7:00pm in room 308 Rudder. Applications avail, in 223G MSC- in the Browsing Library. Applications due: Sept. 9, by 5:00pm. Orthopedic ssociates Douglas M. Stauch, M.D., P.A. James B. Giles, M.D., P.A. Mark B. Riley, M.D. Board Certified Are Pleased to Announce the Relocation and Expansion of their Office to Brazos Valley Medical Plaza 1602 Rock Prairie Road, Suite 360 College Station, 693-6339 (Eff. 9/12/88) On active staff at both local hospitals ARTHROSCOPY • ARTHRITIS TOTAL JOINT REPLACEMENT SPORTS MEDICINE LUMBAR DISC SURGERY HAND SURGERY & FOOT DISORDERS Effective September 12, 1988 M \AGGII ;inema/ International Film (Series pre<senbs MAN0N0F THE SPRING SPECTACULAR FILM. Gene Siskel French with English subtitles Tuesday, September 6 Rudder Theatre 7:30pm $2.50 w/TAMU ID Co-Sponsored by MSC Jordan Institute Don't wait another day! Buy your International Film Series Pass today at the MSC Box Office for only $12.00! Regulators promise $2 billion | to save failing S&L from debts < WASHINGTON (AP) — Federal regulators on Monday pledged $2 billion to rescue the largest insolvent savings institution in the nation, American Savings and Loan Associa tion of Stockton, Calif. M. Danny Wall, chairman of the Federal Home Loan Bank Board, said the government fund insuring S&:L deposits will provide $500 mil lion in promissory notes and at least another $1.5 billion in cash assis tance over the next 10 years. The Robert M. Bass Group of Fort Worth, Texas, will infuse $550 million in private funds and assume control of the institution, which is owned by Financial Corp. of Amer ica, Irvine, Calif. The bank board will own 30 percent of the institution and will receive 75 percent of the tax benefits arising from the trans action. The transaction, when complete, will be the most costly rescue of a sin gle savings institution. Previously, the biggest was the $1.3 billion infu sion last November into Vernon Sav ings and Loan Association in Texas. day and the board approved the agreement shortly after midnight on Saturday. He said the board decided to delay announcing it so that it could appear in newspapers on a business day. Wall said he would reveal details of the agreement after it was fi nalized. “We gave some and they gave some. ... I don’t think we have given away the store by any means,” he said. FCA, with $30.2 billion in assets at the end of June, is the nation’s sec ond-largest thrift holding company, after Los Angeles-based H.F. Ah- manson & Co., and has been S&L regulators’ biggest problem for four years. tance, American, FCA’s largest hold ing, has been considered a valuable purchase because of its broad access through 186 branches and 23 loan centers to the lucrative California market. The bank board, which regulates the nation’s 3,000 S&Ls, had been negotiating exclusively since April 21, with the Bass Group, the invest ment arm of a member of a wealthy Texas family. month extensions of the dt; for the talks, originally set for] On Thursday, Wall describe negotiations as “intensive" aiJ any announcement would layed by 24 hours. The exclusive arrangement has drawn criticism from members of Congress and executives of the San Francisco-based First Nationwide Bank, a subsidiary of the Ford Mo tor Co. Financial Corp. first came under regulatory scrutiny in 1984 when it suffered a $6.8 billion run on depos its that sent shock waves through the industry. Wall said he expected the deal to be signed within a few days to a cou ple weeks after the IRS approves the distribution of tax benefits in the transaction and California officials approve a state charter for the reconstituted institution. Another $490 million deposit run in the first two months of this year prompted regulators in March to promise to protect all of American’s depositors, even those with more than the $100,000 insurance limit. First Nationwide had unsuccess fully sought for nearly a year to ac quire American before talks with regulators broke off. The Bass Group’s willingness to accept notes, rather than cash, from the Federal Savings and Loan Insur ance Corp. was reported to be a key factor in the bank board’s choice of Bass. Regulators twice granted one- The FCA rescue is the late? series of large transactions ning in mid-August that clear., insolvent thrift asstxiations said earlier this week that the board was trying to issueasinau sistance notes as it could befu end of the current fiscal yea Sept. 30. Even though FSLIC money from an assessment on theint and not from the taxpayer notes will be counted toward ing the federal budget deftci? ing with the 1989 fiscal yean begins Oct. 1. Since Aug. 18, the bankboa? committed 512.2 billion in a* eluding the FCA deal, to resc, savings institutions: 21 inTesa in Oklahoma, five in Minneso? others in California andoneej Florida, Iowa, Idaho andTenr Wall said regulators had agreed to provide cash assistance through the 10-year agreement, and that there was no upper limit on the assistance. He said $2 billion is the bank board’s best estimate of its ultimate cost of the rescue after it sells its stake in the S&L, which Wall said should occur within less than five years, and reaps its share of the tax benefits. Wall said Bass and negotiators for the bank board struck a deal late Fri- The old management resigned in August 1984 and William Popejoy, the current FCA chairman, was in stalled. But the company continued to lose money on its portfolio of soured loans, which had accumu lated during FCA’s rapid expansion in 1983 and 1984. Most of it was se cured by real estate in California and the economically-troubled oil coun try of Texas. In the first six months of this year, FCA reported losses of $223.7 mil lion. Still, with enough federal assis- One dead, 16 injured in city bus accident HOUSTON (AP) — One woman was killed and 16 people suffered mostly minor injuries when a car and a city bus collided in an intersec tion, after the car’s brakes appar ently failed, police said. Irma Cabasas, 18, a passenger in the car, was killed instantly when the car was crumpled beneath the Metro bus, authorities said. The accident occurred at about 4:40 p.m. Sunday in a southeast Houston intersection. All 14 passengers in the bus were taken to local hospitals for treat ment, but only three remained hos pitalized Monday and they were in stable condition. The drivers of the car and bus also suffered minor injuries in the Sunday crash. The name of the woman driving the car was not immediately re leased, but police said she told them that her brakes failed. “She said her brake pads were out, she tried stopping the car but it kept on going,” Houston Police De partment accident division officer R.F. Ignacio said. The most seriously injured pas sengers were a teen-age girl whose arm was broken and a 49-year-old woman who received chest injuries. The car was caught under the front of the bus and the two vehicles slid into a light pole in front of a thrift store. Police were continuing to investi gate the accident and no charges had been Filed yet in the case. Plane crash kills Carthage principc Associated Press The crash of a twin-engine pri vate plane this weekend into the pine woods two miles short of a Carthage airport runway killed a Carthage school board member, an assistant principal and three other residents of the East Texas community of 7,000. At the other end of the state, a Labor Day weekend plane crash east of El Paso killed four people, the Texas Department of Public Safety said. In Carthage, investigators from the NTSB and Federal Avi ation Administration were on the scene during the weekend trying to determine what caused the plane to crash as it made its final approach to Sharpe Field Airport late Saturday night. The twin-engine was en route to the Panola County community from Starkesville, Miss., where the victims had attended a foot ball game. The demolished aircraft was found at 8 a.m. Sunday in dense woods about 300 yards off Texas Highway 699. Carthage is about 40 miles southwest of Shreveport, La. Billy Don Griffin, 43, owner of Griffin Construction Co. and a member of the Carthage Inde pendent School District board of trustees was killed along will vviti . Linda, 13, said UBS Mike Payne. Other victims were ideniii as pilot Marcus D. Butler [Ann Liston Apple, 48, an is ftant Carthage High Schooli cipal, and Christina Ann Bell of DeBerry. “Radar operators in Shrt port, La., lost the plane 1 1:30 p.m. Saturday," Payneii “Radio communications ben the plane and controllers in I Worth was lost about the s time. “Air controllers had given pilot permission to descend fn 5,000 feet to 3,000 feet shot before the aircraft was lost.” Officials with the Nauc: Transportation Safety Bor from Fort Worth and dept: with the El Paso County Shec department were investigat what may have caused thesii engine Cessna 170A togodt' about 8:40 p.m. Saturday ina mote area five miles northofH rizon City, cast of El Paso. Killed in the crash werejE Hafely, 8, of Wesley; Berea John Peterson, 30, of Austins pilot Dennis Raymond Peter? 37, and Kevin Peterson, 30, Ik of El Paso, DPS spokesman Da Wells said. Floods in south Mexico kill at least 28 thousands homeless as rain continues f MEXICO CITY (AP) — Crews cleared mudslides blocking roads Monday and took food, blankets and other supplies to thousands stranded by hurricane-spawned flooding that has killed at least 28 people in southern Mexico. Rain continued in much of the region and in Mexico City, the National Weather Service said. While floodwaters in some areas were re ported to be subsiding, officials said they feared rain in the mountains could cause them to rise again. Mud and rock loosened by more than a week of rain slid onto roads, blocking or slowing traffic on several major highways. Others were dam aged by washes or flooded. At least 16 of the dead and the largest group of homeless, 25,000, were in northern Veracruz state, which took the brunt of Hurricane Debby on Friday, Maj. Javier Lopez Medel, assistant state public security director, said. They were in an area between Tuxpan and Poza Rica, 150 miles northeast of Mexico City, and just inland, where the storm hit. One was a 3-year-old girl, killed when the wall of her home in Tuxpan fell on her Saturday, Ma- tilde Albino of the Red Cross said. Some parts of Tuxpan were still under 4.5 feet of water on Monday, she said. About 8,000 of the homeless were in Alamo, 15 miles inland from Tuxpan, Guadalupe Lopez, a Veracruz state government spokesman, said. Lopez Medel said the Cazones River went out of its banks on Monday, cutting the coast road between Veracruz and Tampico. There were no estimates of total damag? On the Pacific coast, where Hurricaref dumped rain last week but never went) light rain continued, the weather servicesi| Highways up the coast to Lazaro south to Acapulco and inland to Mexico] were damagecl or blocked by mudslides, hts. He estimated 3,000 to 4,000 were evai from their homes in the state. At least 5,300 families, or more than- people, were evacuated or lost their hoK Chiapas, the Mexico City newspaper Lajoo said in a report from the state on Mexico? 1 '] ern border. Five people died in Tapachula, at thebri when the Coalan River overflowed, Virgifif rantes, a Red Cross spokesman there, said CRIMINAL DEFENSE ATTORNEYS W.W. Vance ’71 Kyle Hawthorne ’79 DWI • Ftelonies • Misdemeanors Free Initial Consultations 776-2244 Vance, Bruchez & Goss 3131 Briarcrest Drive/Bryan DEFENSIVE DRIVING CLASS Not certified by the Ttexaa Board of Legal Specialization Sept. 10 (8:30 am-12:30 pm and 1:30 - 5:30 pm) Sept. 14 (6-10 p.m.; Sept.15 (6-10 p.m.) 401 Rudder Register at University Plus (MSC Basement) Call 845-1631 for more information on these i other classes DOOR POSTERS, TAPESTRIES NOW OPEN! 100s of posters to choose from Decorate Your Dorm or Apartment Mon.-Sat. 10-9 Sunday 12:30-5:30 Post Oak Village • 900-3B Harvey Rd. • 696-0901 9 OUT OF 10 PUPPIES PREFER THE BATTALION