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