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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Feb. 13, 1989)
AM/PM Clinics CLINICS Our New College Station location offers Birth Control Counseling Women’s Services Female doctors on duty Student 10% discount with ID 693-0202 D MSC Political Forum CAPITOLIZE ON YOUR SPRING BREAK I.w ' s fJl mm P&. itf. Stf^niikVin’ ■ E®is523sirssnpi7KB " WASHINGTON, D.C. $415 price includes airfare, hotel Itinerary in Progress: We are planning a number of governmental, social and cultural activities which promise to make the trip both educational and enjoyable. Possible activities include visits with senators, congressmen, and other government figures, fours of the Pentagon. FBI. and other prominent sites. There will also be free time for personal excursions. Payment in full is due February 25th. The trip is open to everyone. v. INFORMATIONAL MEETING TUESDAY, FEBRUARY 14 228 MSC 6:00-7:00 pm or for more information call 845-1515 c^Icwn Haul Welcomes RCA/NOVUS RECORDING ARTIST NEW AGE PIANIST St. Valentines Day Tuesday, February 14 Rudder Theatre 8:00 P.M. Tickets $6.00 Limited number of carnations will be given out at the door. Tickets Available At MSC Box Office For More Information Call 845-1234 Page 6 The Battalion Monday, February 13,1989 Landowners seek top price for homes near new airport AUSTIN (AP) — Some landown ers in the suburb that will become home for a new airport have hired attorneys to ensure they get top dol lar when the City of Austin begins acquiring land for the project. “We intend to go to condemna tion court,” said Jeanette Schultz, one of 25 landowners who has en listed the help of attorney Michael Barron. Six others also have hired attorneys, the Austin American- Statesman reported Sunday. The possibility of a condemnation skirmish is the latest in a series of events in the past four years that have threatened to derail the city’s plan to replace Robert Mueller Mu nicipal Airport with one in Manor. Voters rejected the new airport in 1985, but approved its construction in 1987. The city has not yet bought an acre for the facility, which will be fi nanced with local and federal dol lars. “I came out here to get away from Mueller, but the airport’s going to follow me,” said Schulz, who lived near Mueller for 12 years before leaving East Austin in 1987 for land near Manor. She and her husband, Melvin, set tled into a new house on five acres they bought 10 years ago. If a new airport is built, the terminal building would likely rest on their land. “It was the great American dream. Get yourself a little piece of land, move out of the city. And then to be in the situation we’re in ... is just not fair,” she said. The Schulzes say they want more than the average $10,000 an acre they fear the city is likely to offer. The $ 10,000-per-acre figure is based roughly on what consultants felt in 1987 the city would have to pay for a 4,713-acre tract that origi nally was targeted for the airport. The overall price tag was pegged at $49 million for the property then. The site has since been reduced to 3,460 acres to accommodate a two runway facility instead of four, but city officials said the smaller tract will cost about the same. Terry Kennemer, who also owns five acres and is one of at least six cli ents represented by attorney Danny Womack, said he’ll reject that kind of offer as well. “It won’t cost me a penny to take them to condemnation court,” said Kennemer, who bought his land in 1971. ^erot Photo by Scott D. Weaver Monkeying around Amber Green, a third grader at Johnson Elementary Schooli Bryan, enjoys Saturday’s warmer weather at the playground. Newspaper: S&L officials met secretly FORT wc It’s family h; ped land in ied to plans f nee Airport. The Perot lion airport, \ [orm the roll nto a planne :rsand hom Records sli he two com) ablished ran he Dallas Ml Appraisal ounties havt ion, but Ross ire is low. “We paid i ay how mud In Dentor icres with a i lounty, the I ion. Mu esa HOUSTON (AP) — A group of about 30 sav ings and loan executives in Texas met secretly in June 1985 to discuss ways to get federal regula tors off their backs so they could continue mak ing deals, the Houston Post reported Sunday. Of the approximately 19 thrifts represented at the meeting, about 15 have failed, are insolvent or have been closed and merged with other insti tutions, the Post reported in a copyright story. The failed thrifts represented included Ver non Savings, Western Savings, Lamar Savings and Continental Savings, the newspaper said. Leonard Thomas of Colonial Savings of West ern Kansas, an executive who attended, told the Post he thought the session was a “secret meet ing.” Colonial, based in Liberal, Kan., was the only out-of-state thrift represented. Thomas, who works in Colonial’s Dallas office, said he was invited because his office was in a building owned by State Savings and Loan of Lubbock. “I’m surprised someone found out about it,’ Thomas said. “There was a general concern that if the regulators found out that all the S&L guys got together they might misconstrue the situa tion. In 1985, there were a lot of scared people running around.” The June 11, 1985 meeting was called by Con tinental Savings president David Wylie and chair man Carroll Kelly in a May 22, 1985, letter writ ten on Continental Savings stationary obtained by the Post. “We discovered the letter over a year ago,” said Rosemary Stewart, director of enforcement for the Federal Home Loan Bank Board, which regulates savings and loans. “We turned it over to the Department of Jus tice as part of an ongoing criminal investigation,” Stewart said. Sources who attended the meeting said several issues were discussed, including how to evade loan limits to one borrower and how to remove delinquent loans and foreclosed real estate from thrift books by selling them to other thrifts, the Post said. Industry sources familiar with the meeting said the effect of those actions would have been to move bad loans around to hide them from reg ulators and make the thrifts appear to be in bet ter financial shape than they actually were. Stewart said those actions — if taken —could be illegal, depending on the particular circum stances. “Selling RLO (real estate owned) can bept fectly lawful under certain circumstances,but! they were selling RLO (to fool the regulaton that would he a violation of Federal HomeLoj Bank Board rules and very likely a criminalviot tion — willful misstatement of the booksande cords,” she said. “I remember them talking about REOs,” said B.G. W ylie, former chairman | American Savings and Loan in Lakejacksona! the father of David Wylie. “If something was done, it was after 1 left don’t know whether any of them got together the RLOs,” he said. Another source who attended also said the si of REOs was discussed, along with evasion loan limits and growth limits. Wylie said hedid: remember anyone at the meeting discussingk limits to one borrower. The letter calling for the meeting said,‘As- ings and loan association stockholders anti managers, we have experienced a great deal change in our industry and as of late, mostoli changes have been caused by regulators." Is For Winners ARLINGH ped murd ;ured after li :ell by pryinp On Friday !1, went thr fo a plumbic iscaped, poli Police rec irday after hem to his v leers conver A&M By Fiona STAFF W The pe to center the secor Focus on Week. 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