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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Feb. 6, 1991)
ary 6,\% n v launderiii: is through;,' es. Eckels t rt the curre ributions di lls by raisn le PACs ih, to those o([ n o adjourns units on ,000 per PAG Wednesday, February 6,1991 The Battalion Page 5 Three-country trade agreement FTA will benefit U.S. economy overall, Bush says contributio: o members 3 y those wr ffncy. dual who col 25,000 tod' political actii them to f, lonations wr: yen obe roper, lenied thes heir case in indictment! on of docu- a me period , the investi- iitional alle 'tint toafel- Lewis, more infor- motions thai isclemeanor ± and jury re tard, Gog- isiness. The i firm is tht ar of delin- of San An- director of ared be fort WASHINGTON (AP) — A free trade agreement with Mexico will benefit the U.S. economy, but there will be winners and losers, a study by the International Trade Commis sion indicated Tuesday. “An FTA with Mexico will benefit the U.S. economy overall by expand ing trade opportunities, lowering prices, increasing competition and improving the ability of U.S. firms to exploit economies of scale,” the study said. But relative to the size of the U.S. economy, those benefits are likely to be small, at least initially, because many trade barriers between the United States and Mexico have al ready been reduced or eliminated, the study said. President Bush, however, in an nouncing Tuesday that Canada would be joining the negotiations, said an FTA would link the three countries’ economies in “bold and far-reaching ways.” “A successful conclusion of the free trade agreement will expand market opportunities, increase pros- “The sheer size of that market will increase the competitiveness of the firms of the three countries. At the same time, it will allow for the three economies to complement each other and to combine the power (of) Mexico, a labor-abundant country, and the United States, a more capital abundant country.” — Jaime Serra Pucha, Mexico’s commerce secretary perky and help our three countries meet the economic challenges of the future,” Bush said. A free trade area encompassing all three countries would create a North American market of 360 mil lion people with annual production of more than $6 trillion, Bush said. “The sheer size of that market will increase the competitiveness of the firms of the three countries,” Jaime Serra Pucha, Mexico’s commerce secretary, said. “At the same time, it will allow for the three economies to complement each other and to com bine the power (of) Mexico, a labor- abundant country, and the United States, a more capital abundant country.” The ITC study said there could be losers north of the Rio Grande un der the agreement, including retail ers on the Southwestern border who depend on Mexican shoppers, fruit and vegetable growers, producers of inexpensive household glassware, cow-calf operators and segments of the textile industry. . Winners could include grains and oilseeds producers, alcoholic bever age exporters, cement makers, pro ducers of major household appli ances and capital goods such as machine tools and industrial equip ment. Other potential beneficiaries include farm and construction ma chinery, food processing equipment and pollution control equipment. The study, however, said word is still out on autos and auto parts, and that the picture is mixed for steel. “This study reaches a significant conclusion: On balance, free trade with Mexico can produce economic benefits for the United States,” Sen. Lloyd Bentsen, D-Texas, said. “An agreement has the potential to provide new jobs and other bene fits for Texas and the United States as a whole,” Bentsen said. “But the study also shows that there will be winners and losers.” The study also cautioned that an FTA would raise the demand for transport, warehousing and other services along the Southwestern bor der, resulting in additional pressure on already strained border transport system and entry facilities. Study: Collider tunnel leaves environment unaffected REAT: she re- and threat- ARRYING ested near | carrying a “Explorer ration and UNIVER- >iforma of Public covered a n campus taged. night is tonight* lapman'd a out the tc* nal, melo® NCE »S V N r WASHINGTON (AP) — Construction of the superconducting super collider’s 54-mile tunnel around Waxahachie will not harm the environ ment, according to an Energy Department study released Tuesday. The completion of the study allows digging to begin. Although the final environmental impact statement has been signed by Energy Secretary James Watkins, actual construction of the oval tunnel is months away, a congressman said Tues day following DOE’s announcement that the re view had been completed. Rep. Joe Barton, R-Ennis, said completion of the study “is the major green light for the project to begin serious construction.” Although construction of surface buildings had been allowed prior to completion of the study, the review was necessary to clear the way for digging the tunnel. Barton said. “This record of decision actually says all planned construction of ... the entire SSC does not have an adverse impact on the geology, hy drology, air quality, radiation, vegetation, every aspect of the environment,” Barton said. “It is a major milestone. ... I consider this the most significant decision to date on the project, other than the decision to build the SSC, and to build it in Texas.” Barton said he believes work on the tunnel would begin, under the current timetable, some time in 1992 or as late as 1993, although a groundbreaking could be held as early as spring. Bush administration proposes overhaul of banking system Buy Project XOXO Valentine’s Tickets for $1. for sale in the MSC this week Win Dinner Flowers Chocolate, baloons & more Benefits the Am. Heart Assoc. Sponsors: Great American Chocolate Chip Cookie Company Black Forest Confection Connection Cattleman’s Inn Cenare’s Chimney Hill Florist Deluxe Burgerbar Fort Shiloh Grill Garfields Resaurant and Pub Grapevine Peanut Shack Pop-abilities Post Oak Florist Gonzalez WASHINGTON (AP) — The Bush administration on Tuesday proposed a landmark overhaul of the nation’s bank ing system that would reduce government guarantees to de- positors and break down tradi tional walls be tween banks and other businesses. The recom mendations, the centerpiece of President Bush’s domestic agenda, are his administra tion’s response to a rising tide of bank failures unrivaled since the De pression. Prepared by the Treasury Depart ment after 18 months of study, the package would put the financial sys tem through the biggest changes in 50 years, affecting nearly every American who borrows and saves. For the first time since the estab lishment of federal deposit insur ance in 1934, government guar antees to bank customers would shrink rather than expand. The changes, however, are carefully crafted to minimize their impact on average depositors. Individual depositors would be covered for no more than $200,000 per institution, eliminating exotic combinations of trust and joint ac counts which now enable families to insure more than $1 million. More over, regulators would be discour aged from fully reimbursing unin sured deposits, which they have done so far in virtually all bank fail ures. Longstanding laws barring com mercial and industrial companies from owning banks would crumble, as would the division of banking from the insurance and securities in dustries. Customers may be able to get a car loan, shares in a mutual fund and a life insurance policy at their bank, which could be owned by a depart ment store chain. The long-awaited proposals must be approved by Congress, where many legislators are wary of repeat ing mistakes that worsened the sav ings and loan crisis. “The administration makes a mis take in proposing new and risky ac tivities for banks before the supervi sory and (deposit) insurance reforms are in place and working,” said Rep. Henry B. Gonzalez, D-Texas, chair man of the House Banking Commit- lee. “This is the same cart-before-the- orse mentality which plagued the eregulation of the savings and loan ndustry,” he said. Treasury Secretary Nicholas F. Brady, however, said the reforms are a package and should not be en acted piecemeal. “Today, our banking system is un der stress. ... Our banks are ham pered by out-of-date laws,” Brady said. “If we expect to exert world economic leadership in the 21st Cen tury, we must have a modern world- class financial services system in the U.S.” He said American banks compare unfavorably with their healthier and bigger counterparts in other indus trial countries. He noted that only one bank, Citicorp, ranks among the world’s 30 largest, compared with nine U.S. banks 20 years ago. The administration plan also would relax decades-old restrictions on interstate banking within three years, making it easier for giants like Citicorp and Bank of America to es tablish branches competing with lo cal institutions. It would prune a thicket of inde pendent regulatory agencies and, in the process, give the administration more control of financial regulation. Treasury postponed its proposals on curing banking’s most pressing short-term problem, shoring up the industry-financed Federal Deposit Insurance Corp. 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The key performance areas that are evaluated by , the Joint Commission place primary emphasis on an organization's effectiveness in reviewing patient care and establishing sound internal processes to support the provision of quality care. You and your organization may take great pride in this achievement. We are confident that von ui i i *■ .• -.i———— * W e’ve just received one of the highest commendations a hospital can get. And we want to share our pride with you. Thanks to our board, our medical staff and every employee here, Humana® Hospital - Brazos Valley has just been recognized as one of the top-performing hospitals in the nation, a hospital committed to the pursuit of quality in patient care. This letter, from the president of the Joint Commission on Accreditation of Healthcare Organizations, is an official commendation that we’ve been ranked among the country’s most effective accredited healthcare organizations. Against the most rigid standards of quality in the healthcare field, Humana Hospital - Brazos Valley received 94 (out of a possible 100) as an overall accreditation grid score. While this commendation is something we are all proud of, it’s also important to you. It’s an indication of the quality medical care the staff of Humana Hospital - Brazos Valley is committed to providing. Humana® Hospital - Brazos Valley 7604 Rock Prairie Road College Station, TX 77845 (409) 764-5100 © 1991 Humana Inc. Whafs more important than your health. HO 21-0132 1/91