i
April 6,1989
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tchell.
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steal that scored
1 Crainer to sec-
is Blaha readied
or to make it 3-0
i connected again
ng as Mitchell,
elle Mayfield all
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on a wild throw
as she attempted
it first and A&M
s scored all three
; sixth but A&M
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as pleased to get
game, although
tie rough,
isn’t pretty,bulk
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But they are be
ll.”
gled to start the
is and Newkirk
bases and Blaha
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on balls,
ng was all A&M
e Lady Bobcats
ed and Blaha
?r’s choice. Tory
to right field to
put A&M up 2-0.
ed a double to
score Blaha and
■ Erika Eriksson
irk to make it 5-0
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ther run in the
walked, took sec-
irwin’s balk and
y Geronimo Ber-
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when Perry sin-
>n Dale Murphy’s
a Jody Davis' sin-
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first inning to
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ond on a balk,
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, got the victor)
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The Battalion
WORLD & NATION 9
Thursday, April 6,1989
S&L losses hit record high in 1988
Texas institutions account for $9.7 billion of $11.1 billion lost
AUSTIN (AP) — The nation’s
thrifts lost a record $11.1 billion in
1988 — with losses in Texas account
ing for $9.7 billion, industry analyst
Alex Sheshunoff reported Wednes
day.
Sheshunoff said 2,192 institutions
— 69 percent of the nation’s 3,174
savings and loans — earned a profit
last year, with the record loss con
centrated in the Southwest.
“Thrifts in Texas lost $9.7 billion,
followed by Arizona, where the loss
amounted to $657 million,” said
Sheshunoff, president of Sheshu
noff & Co., an Austin-based infor
mation and consulting firm for the
banking and thrift industries.
The loss numbers reflect Texas’
troubled economy, said the firm’s
vice president Stephen Skaggs.
The numbers mirror in large
part the depressed economy here in
the state of Texas, specifically the
sluggish real estate market,” Skaggs
said, noting that while energy prices
fell in the first half of the decade,
commercial real estate activity con
tinued to boom.
“The grossly overbuilt real estate
markets — commercial real estate,
shopping centers and perhaps even
the housing market are reflected in
the S&L crisis,” Skaggs said.
Other factors included the “very
liberal chartering authority here”
during the early 1980s, plus limited
regulation, he said.
Skaggs said it is difficult to say
whether the thrift crisis has bot
tomed out.
“Once the Bush administration
and Congress develop a solution (for
troubled S&Ls), the numbers will be
gin to look better,” he said. “But is
there a fundamental change in the
factors that contributed to these
problems? That’s the difficult ques
tion,” he said.
“I’m cautiously optimistic that this
probably was the worst and 1989
cannot be worse,” Skaggs said. “I say
that because some of the biggest
S&L insolvencies were resolved, with
the assistance of the FSL.IC.”
Sheshunoff said nationwide,
thrifts face three major challenges in
1989:
• Rising interest rates on depos
its, which could squeeze the interest
spreads on institutions holding sub
stantial amounts of fixed-rate mort
gages.
• A growing inventory of repos-
sesed real estate. The industry al
ready holds $25.5 billion, more than
half of that in Texas, with California
a distant second, he said.
• Weakening property values in
some regions, particularly the
Northeast.
“Those are three tough challeng
es,” said Sheshunoff. “It’s like a
three-ring circus. The S&L exec
utive has to juggle, tame lions and
walk a tightrope all at the same
time.”
The analyst said that while the
thirft crisis is concentrated in the
Southwest, the trouble has shaken
public trust in thrifts and those who
regulate them.
He said a recent consumer survey
by his company found that 6 percent
of depositors had withdrawn money
from a thrift because of the indus
try’s problems.
“I
I’m cautiously optimistic
that this probably was the
worst (year) and 1989
cannot be worse.”
— Stephen Skaggs,
analyst
Bush OKs expanding
ban on assault weapons
WASHINGTON (AP) — The
Bush administration said Wednes
day it was expanding a recently im
posed ban on the importation of
semiautomatic assault weapons.
White House press secretary Mar
lin Fitzwater said that President
Bush accepted a Treasury Depart
ment recommendation that the ban
be widened, effective immediately.
The action expands the ban to
cover all imports of the high-pow
ered, rapid-fire weapons, Fitzwater
said.
The previous ban, announced in
early March, only covered about 80
percent of imports, he said.
Fitzwater said the initial ban on
such weapons, including the AK-47
assault rifle, was aimed at fostering
“a climate in which reasonable and
well-intended people . . . could work
out a thoughtful solution” to the
proliferation of such weapons.
He said the department was im
posing a ban on an additional 24
types of guns “to review their suita
bility for sporting purposes.”
Among other things, he said, the
administration wants to make sure
that no foreign manufacturer suf
fered a needless weakening of its
competitive position in the export
market, and so therefore the ban
was expanded.
Calls for such a ban had been
prompted by scores of drug-related
shootings and the recent slaying of
five California schoolchildren.
The initial ban on the importation
of AK-47s and certain similar weap
ons was passed March 14.
Haitian troops attempt
second military coup
PORT-AU-PRINCE, Haiti (AP)
— The government declared a state
of emergency, ordered troops on
maximum alert and censored the
news media Wednesday after sol
diers revolted and demanded the
ouster of Haitian leader Lt. Gen.
Prosper Avril.
It was the second mutiny within
the 7,000-man army since Sunday.
In Sunday’s mutiny, Avril nar
rowly escaped an attempt to over
throw his 6-month-old government.
Diplomatic sources, speaking on
condition of anonymity, said Avril
remained in control.
“Our impresssion is that it is not
an attempted coup, but rather an in
ternal army dispute,” said one West
ern diplomat.
Another diplomat, who also re
quested anonymity, called the situa
tion a standoff.
“I think they’re just staring each
other down,” he said, referring to
the rebels and loyalist troops.
Avril’s Presidential Guard sta
tioned two anti-aircraft guns, four
armored personnel carriers and
three wheeled cannons inside the
compound of the National Palace.
Across the Champ-de-Mars Plaza,
about 300 supporters gathered out
side the Dessalines Barracks, where
the rebellion broke out.
Smoldering barricades temporar
ily blocked nearby streets.
Radio reports said rebels seized
control of several buildings, includ
ing the telecommunications com
pany, the state-run central bank, the
Ministry of Education and the State
Bureau of Statistics.
Shops in downtown Port-au-
Prince closed early.
Pedestrians and motorists fled,
leaving the capital’s normally con
gested streets nearly deserted at
midday.
Airlines were forced to cancel
flights when workers abandoned
Haiti’s international airport. Service
had resumed Tuesday for the first
time since the abortive coup.
Student productions rescheduled after protest
PHILADELPHIA (AP) —
Things are back on an even tenor
at the University of the Arts now
that students have been assured
their productions won’t be
canceled so Luciano Pavarotti can
use their stage.
About 200 students chanted
and danced for five hours outside
the university’s administration
building Tuesday after learning
that their Schubert Theater stage
had been handed over to Pava
rotti and the Opera Company of
Philadelphia.
A cracked ceiling beam at the
132-year-old Academy of Music
had forced the opera to look for a
new home for its April 9 and 13
productions of Verdi’s “Luisa
Miller.”
Under a settlement negotiated
by university President Peter
Sohmssen, two displaced student
productions will be rescheduled.
Group honors 3 for civil rights leadership
ATLANTA (AP) —Demo
cratic National Chairman Ronald
Brown, Roman Catholic Arch
bishop Eugene A. Marino and
Morns Dees, co-founder of the
Southern Poverty Law Center in
Montgomery, Ala., have been
honored by a civil rights group.
The Southern Christian Lead
ership Conference marked the
anniversary of Martin Luther
King Jr.’s assassination by honor
ing the three at its I Oth annual
“Drum Major for Justice” award
dinner Tuesday night.
The awards are named after a
phrase in a 1968 King speech in
which he said he wanted to be re
membered as a “drum major for
justice.” King was assassinated in
Memphis, Tenn., on April 4,
1968.
Brown was recognized for his
efforts to bring blacks and His-
panics into the Democratic Party
and for lobbying for civil rights.
Marino, of Atlanta, is the first
black Roman Catholic archbishop
in the United States. Dees has ar
gued more than 50 federal civil
rights cases, one of which re
sulted in a $7 million verdict
against the Klan.
Mexico continues ban on American pigs
MEXICO CITY (AP) — Mex
ico continues to turn away U.S.
hog shipments at the border to
control an outbreak of pork chol
era, even though the disease has
not been seen in the United States
for over a decade, officials said
Wednesday.
Mexico banned all imports of
hogs that are not vaccinated
against cholera on March 10 after
the disease devastated domestic
hog populations in western Mex
ico. More than 60,000 hogs have
died of the disease, the govern-
ment newspaper El Nacional re
ported Wednesday.
U.S. and Mexican animal
health experts are working to set
up a meeting next week at an un
disclosed location in Texas to re
solve the dispute, an official said
on condition of anonymity.
Nearly all Mexican imports
come from the United States.
Mexico imported 84,500 hogs to-'
tailing about $11.5 million in
1988, nearly all for immediate
slaughter instead of breeding,
according to U.S. Embassy data.
SPECIAL
EFFECTS
Waterbeds & Bedrooms
FUTONS
Mattress Pads
$9«
Padded Rails
$9tL
Satin Sheets
$29”
Massage Units
$19”
BEDS STARTING AT
$129°° complete
SALE ENDING SOON!
ARE HERE!
Futon Frames from Special Effects in natural & black
STARTING AT $199°°
1104-C Harvey Rd. Post Oak Square
Behind Grandy’s & Cavender’s 693-0563
Monday - Sunday
TAIPEI EXPRESS
ALL YOU CAN EAT BUFFET $3.99
ENTREES START AT $1.80
GREAT CHINESE FOOD WITH AFFORDABLE PRICES!
110 College Main
Across from Kinkos
846-9712
Parthenon's
The
Killer Bees
Thursday
10 p.m.
Woodstone Center
815 Harvey Rd.
764-8575
PIZZA
SALE!
PERSONAL
PAN PIZZA*
Pteo
Hut.
READY IN 5 MINUTES.GUARANTEED.
Just For One • Just For Lunch
Guaranteed 11:30 AM-1:00 PM. Peraonal Pan Pizza available 'til 4 PM
5-mlnute guarantee applies to our 3 selections on orders of
5 or leas per table. 3 or leas per carryout customer.
0
Personal
f"9l5
I Pan Pepperoni
i
I
Limit one
per coupon
PtmwK ooupon wtan crdwlng. On* eou- — ■ y — ~
pen pmr penan pm vtflt. P*r»on«l P»n* «««Htaa#_
Mrvw tetamn 1 Mon.-Fri. at
paradpotnq Pin. HutO rMMutanO.
Cash radwrphon value 1/20 cant. Not valid In
combination with any other Pizza Hut<8 otter. 5-
mlnirte guarantee appRee 1130 AM to 1:00 PM
to our two sated Iona on order* of 5 or IBM per ta
ble or 3 or lees per carryout customer.
©1883 Pizza Hut. Inc. Exp. 5/31/89
Personal """J
I Pan Pepperoni^^^ I
Limit one
per coupon
PTMOTt coupon wTisn adoring^ On* coupon Jani
■ p*r p«r*cn par vtet Personal Pan* Mrv*d aetiWLe
■ bawaan 11 am-4pm, Mon -Frl. at parMpafrig
■ Pin '■ ■
Pin* Hu© rashaurOTt*
©1983 Pizza Hut. Etc. Exp. 5/31/89 | ©1983 Pizza Hut. Inc. Exp. 5/31/
I Cash redemption value 1/20 cent Not valid In
combination with any other Pizza Hut* offer. 5-
I minute guarantee applet 1130 AM to 1XX) PM
to our two seiectlorw on orders ol 5 or lees per ta
ble or 3 or less per carryout customer.
©1983 Pizza Hut, Inc. Exp. 5/31/89
Contact Lensesr^
-P#/
Only Quality Name Brands
(Bausch & Lomb, Ciba, Barnes-Hinds-Hydrocurve)
$ "yQOO P r - *' STD - DA,LY WEAR SOFT LENSES
SPARE PR. $5.00
i pr. *-STD. EXTENDED WEAR SOFT LENSES
$ OQ00 pr. *-STD. TINTED SOFT LENSES
DAILY WEAR OR EXTENDED WEAR
SALE ENDS MAY 19,1989 and Applies to clear std.
Daily Wear Soft Lenses Only
Call 696-3754 for Appointment
with purchase of
1st pr. at reg. price
CHARLES C. SCHROPPEL.O.D., P.C.
DOCTOR OF OPTOMETRY
707 South Texas Ave., Suite 101D
College Station, Texas 77840
1 block South of Texas & University
er
Eye exam & care kit not included
mr