, December 12, 1990
The Battalion
Page 7
•er 12,1s
Itate may have Tubuiarman
1.2 billion
by Boomer Cardinale
in excess
ge Chrislrrj AUSTIN (AP) — The state could
846-6687 have $1.2 billion more than pre-
licted this budget cycle, allowing
aders to avoid a “mirrors and blue
oke” financial maneuver and
vet part of a welfare deficit, a key
pal Chnslir&wmaker said Tuesday,
all N.Raff!; “\y e are projected to have that
oney, and I think we will have that
oney,” said state Rep. James Hury,
ays and Mean Committee chair-
an.
Comptroller’s office spokesman
John Bender would only say that the
" venue estimate for the next bien-
ium will include an update on the
rrent two-year budget cycle, which
ds Aug. 31.
The Legislative Budget Board has
en working on figures for law-
akers, said director Jim Oliver.
“We’re certainly better off than
|e thought we were going to be”
iyhen the 1990-91 budget was writ
ten last year, Oliver said.
F However, he cautioned that the
I comptroller’s estimate is what legis-
Ktors must use. “It certainly isn’t of-
Bcial yet ... What our numbers look
1 Ike in-house, informally, don’t
Itv i t)unt> ”
V 1 A one-day transfer from special
funds to the general revenue fund,
Jp avoid a deficit at the end of this
fiscal year, was estimated to be about
$1 billion when authorized by the
pst Legislature, Oliver said.
Since then, revenues have come in
Bryan/College Station,
^ ^ Prepare for His Coming at the
following Christmas Services.
/A Place: Beautiful Savlon Lutheran Church
A 1007 Krenek / College Station
mk (Across from Central Park)
Doesmber 5-"Andrew and Advent" (Weds, service) 7:30
12-"Mary, the Mother of Our Lord" (Weds.) 7:30 pm
19-"Caesar Augustus' Decree" (Weds.) 7:30 p.m.
24- Christmas Eve Service (7 p.m.)
25- Christmas Day Worship (10 a.m.)
Sponsored by A&M Lutheran Collegians
e Food Ba'i
‘sh. Call to'
McDonald,,
Ush the Mffj
9p is a fia&
run or
’case
— An aett!
sath ofaB.
officer sp
how to tail
s.
jury Tuest
on
>U£h. He
apital mui
f Jerry Sit
'through,
p has testis ahead of the forecast, largely from
oil and gas and the sales tax, Oliver
id.
If budget board estimates hold
Up, he said, the transfer could be
gvoided and “we might even have a
couple of hundred million in the bal-
mce.”
Besides averting the bookkeeping
about f; trans f er > Hury, D-Galveston, said he
would like to use the extra money to
apital muni i^ake up about half of an anticipated
>fJerry Sh |380 million shortfall in the welfare
budget this fiscal year.
former Fi
mt and
heriff. Mitj
lice testifv
•s, said he
e rest slot
The rest of the shortfall could be
ade up through short-term bor-
owing, by the use of cash manage-
ent notes, he said.
“These aren’t all hard numbers,”
omeoneicl^ ur y sa *d. ^ ut he added, “I’m pray-
e months
o identify 2
Is, testkl
Morales says
he may appeal
sodomy ruling
AUSTIN (AP) — Attorney Gen
eral-elect Dan Morales said he’ll de
cide after he takes office whether to
appeal a state judge’s ruling that
Texas’ law against homosexual so
domy is unconstitutional.
“I am going to need to wait until I
have an opportunity to assume of
fice and review the documentation
and review the specific case,” Mo
rales said Tuesday.
He said he expected to make a de
cision on that and other pending
lawsuits soon after taking office.
Gay men and women from Aus
tin, Houston and Dallas challenged
the 1879 law before District Judge
Paul Davis of Austin, who made his
ruling Monday.
The law makes it a Class C misde
meanor, punishable by a $200 fine,
for consenting adults of the same
gender to have “deviant sexual inter
course.”
The plaintiffs asserted that the
law violates Texas constitutional
guarantees of privacy, equal protec
tion and due process, as well as the
state Equal Rights Amendment.
Davis’ ruling drew a protest Tues
day from a small group led by Mark
Weaver, head of the American Fam
ily Association of Texas.
Weaver and three other demon
strators displayed a banner reading
“Gay is not OK” at a downtown over
pass on Interstate 35.
Nerd House by Tom A. Madison
Attention All Members of the:
International Business
Association
•resumes are now being assembled for the Career Fair
notebook
‘all interested parties should have their personal resume
completed and turned in to the Correspondence Mail
box (CIBS office, room 505 Blocker) no later than
January 19. 1991
‘sample resumes can be viewed on the I.B.A. board in
blocker
*any questions can be referred to an I.B.A. officer
Scratch always w/a/s the snowball fight.
vena
TORTILLA FACTORY
Crime lord Gotti arrested
Pair hopes to make
oil investments safe • import
■ Wednesday
Dec.12
I
990
Wise Coi
a massive
park thai
bout 400
ency chai
>ted were
NEW YORK (AP) ^John Gotti,
ho is reputed to one cjf the nation’s
inost powerful crime bosses, was ar-
ested Tuesday night at a social club
fin Manhattan, the FBI said.
Gotti was arrested by FBI agents
(ual. Var and New York police officers at the
ted invesE Ravenite Club at 7 p.m. in the Little
untyroads Italy neighborhood, said FBI
spokesman Joseph Valiquette.
I no react The charges against the reputed
:ad. Butjti; boss are sealed, Valiquette said,
tint's para I A police spokesman, Officer Scott
I, sister oft Bloch, said details about the arrest
nson Com would be revealed at a news confer-
ix. f ence likely to be held Wednesday.
jerry Ski No other details were immediately
that it tur available.
peetthede, Gotti’s attorney, Bruce Cutler, did
my sonta not immediately return a call left on
malty in c his answering service.
Gotti has been under investigation
in the shooting death of Paul Castel
lano, reputed leader of the Gambino
crime family, since the Dec. 16,
1985, slaying outside a Manhattan
steakhouse.
Gotti was found innocent in Feb
ruary of state charges related to the
shooting of a union official. It was
the third time that he had been ac
quitted in recent years of major state
or federal charges.
According to published reports,
the FBI has gathered tape-recorded
evidence against Gotti that could
bring him up against federal pros
ecutors in New York for the 1985
slaying.
Jules Bonalovonta, in charge of
the FBI’s organized crime office in
New York, recently described Gotti
as “the No. 1 target of law enforce
ment” and added, “It’s just a matter
of time. He’s going to go.”
iadei Drugs
Continued from page 1
ices
rges
applied research.
Three areas will be targeted —
identification, interdiction and alle
viation.
TEES officials said Thursday the
new institute is already in the early
stages of working with several large
telecommunications companies, de
fense contractors and smaller indus
tries to use engineering technology
in counter-drug efforts.
Barton said he was making the an
nouncement on behalf of his Texas
The for:
ug Enii”
is plow it
ving til,:
d aendf'
suffers
ikenlefT
who ^
20-year so
it it s
colleagues in Congress, and he
praised the efforts of congressmen
who “believed in it and made it hap-
pen.”
The grant funds come from the
General Services Administration.
Hickman said emphasizing or tak
ing away some of the recommenda
tions weakens the whole report.
“The president will determine
how they should be implemented,”
he said. “We just say they should be
implemented.”
‘ii:
fonday. f A&M at Galveston.
isations tk
to Rupft
struck ft
along f
n Judge
cing hean-
Feb. 7
Rep. Delco has represented Tra
vis County in the Texas State Legis-
*1 lature since her election n 1974,
when she was the first black official
elected from District 50.
She is chairwoman of the House
Higher Education Committee and
also serves as a member of the Sci-
ig that Ti
ect result
ite law.
Ity to a D
iomeont
it 30 dau
P £
of the oil business that bothers
Bobby Ewing.
“It’s a funny thing about gold and
diamonds and oil — people have
been investing in them for years,
and people have been getting
burned for years,” he said. “In the
promoted oil business, (hyped as in
vestment opportunities to unsophis
ticated investors) it’s probably one in
1,000 that get their money back. I
cannot comprehend how you can
call somebody on the phone and
send them a few pieces of paper and
get them to send thousands of dol
lars to put in a hole in the ground
2,000 miles away.”
In February, Ewing, of Dallas, tea
med with Ron Herzfeld, an indepen
dent geologist, to form Corporate
Energy Consultants. Ewing wants
CEC to become the “Ghostbusters”
of the oil patch — the company in
vestors call when the need help eval
uating a deal or getting themselves
out of a scam.
“People have been tricked into
giving money to things that have
never been done or that have been
overplayed,” said Herzfeld, for
merly the president of Independex,
a Dallas energy consulting firm. “We
hope to get to the point where peo
ple will know whom to call. There’s
not a lot of places people can go.”
State and federal securities offi
cials say promoted oil deals have in
creased sharply since the first of the
year, encouraged by higher oil
E rices and increased horizontal dril-
ng activity in South Texas.
The deals typically are touted
through the telephone solicitations
from phone banks known as boiler
rooms. Boiler-room operators “cold
call” potential investors and ask
them to buy into deals. Often, the in
vestor commits his funds before he’s
even seen the prospectus, which is
supposed to outline the risks in
volved.
According to securities officials,
promoters have been known to use
investors’ money for personal pur
poses and typically keep few or no
records, making it difficult for inves
tors to get their money back. Esti
mates of investors’ losses are almost
impossible to assess. However, at the
height of the oil boom, some officials
believe the losses nationally may
have reached billions of dollars a
year.
Herzfeld describes many of the
potential investors targeted by boiler
rooms as intelligent business people
who just don’t understand oil deals.
Ewing said CEC draws on his experi
ence in the oil business and Herz-
feld’s technical expertise to help in
vestors spot inaccurate claims and
verify a promoter’s background. So
far, he said, recommendations have
been mixed, with a number of
“don’ts” and a few “do’s.”
Ewing recommends that anyone
wanting to put money into an oil
venture have an annual income of at
least $200,000 and a $1 million net
worth.
While Ewing admits name recog
nition from the fictional Bobby Ew
ing of “Dallas,” may help his busi
ness, he said the similarities between
the two stop with the name.
“I don’t have the money or the
looks, either one,” he said.
i BEER
Thursday
Dec. 13
750
Breafast
Tacos!
Friday
Dec. 14
750
Breakfast i
Tacos! i
■
>—J
We Buy Books
Everyday
at
Texas A&M
Bookstore
Bob Mof ence and Technology Committee.
Dr. Jordan, who now resides in
Austin, has been on leave from his
duties as professor of musicology at
Penn State since Sept. 1.
Prior to being named that univer
sity’s president, a position he held
from July 1983 to August 1990, Jor-
lalingW dan was associated with the Univer
sity of Texas System for 18 years.
at a cop
of the ^
ed in
I after •
;he bad
3. A brea ;
id taken'
.14 petf
r e the
ion. I
as evide 1 '
:, Hambij
cication s'
:ident sd
alcohol
He served as president of UT-
Dallas from 1971 until 1981 and
held a number of positions, includ
ing interim president, at UT-Austin.
Ambassador Shelton-Colby is a
consultant to International Banks
and Investors, former deputy assis
tant secretary for Mexico and for
mer Ambassador to Grenada, Bar
bados and eight other Caribbean
nations.
Shelton-Colby is a member of the
board of A&M’s Center for Interna
tional Business Studies, an adjunct
professor of Latin American Studies
at Georgetown University and co-ed
itor of “Global Assessments,” a busi
ness-oriented journal of interna
tional affairs.
1600 S. Texas AveJ
Faculty Senate
Continued from page 1
asked. “Why not ask for more? We
probably won’t get it anyway. Why
not get turned down for big bucks?”
Irene Hoadley, director of Evans
library, said the $2 million increase is
not enough. She recommended the
library’s $8 million budget be
doubled.
“If funding becomes available, we
will move to implement these recom
mendations,” she said.
Dr. Jim Price introduced a motion
to create a committee to develop spe
cific plans of action for some of the
proposals.
The Senate, after a discussion
about “prioritizing” certain resolu
tions, voted against the motion.
Hickman said emphasizing or tak
ing away some of the recommenda
tions weakens the whole report.
“The president will determine
how they should be implemented,”
he said. “We just say they should be
implemented.”
Congratulations
to the 1990 graduates!
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