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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (April 24, 2003)
WJV*V. JWMST O 979-822-2222 1MS1E BLEU Edmondson ♦ “$50 and a Flask of Crown” ♦ All tickets $6 at the door ♦ $1.00 U-call-its and $1.50 longnecks tit 10p.m. ♦ $1.50 CHUGGERS AND $2.50 PITCHERS ALL NIGHT! ♦ With special guest: the Britt Lloyd Band ♦ TICKETS $12 AT THE DOOR OR $10 IN ADVANCE AT CAVENDERS, BASKINS, AND THE Hall of Fame ♦ $1.50 CHUGGERS AND $2.50 PITCHERS! ♦ Great drink specials, including $1.50 CHUGGERS AND $2.50 pitchers! ♦ Tickets a vailable at the door ♦ Opening act: Aaron Watson "Last Beer of the Year" Party, featuring: /^iOlrVLER. The Texas Hall of Fame encourages you to drink responsibly and always designate a driver. Free soft drinks to designated drivers over 21. 12A Thursday, April 24, 2003 NAT1( THE BATTAll War, SARS inhibit econora By Martin Crutsinger THE ASSOCIATED PRESS WASHINGTON — The U.S. economy has been struggling to overcome a series of obstacles from the onset of the Iraq war to late winter storms and the out break of a mysterious Asian virus, the Federal Reserve reported Wednesday. The Fed said economic con ditions in March and the first two weeks of April continued to be “lackluster” with the econo my still trying to rebound from a pronounced slowdown that began late last year. The central bank did say there were scattered signs of bet ter days ahead, including pock ets of strength in manufacturing, some pickup in demand for busi ness loans and at least a slowing of job layoffs. “The Fed is saying that there are plenty of things still to worry about, but this is the first report in quite a while to contain a few bright spots,” said Mark Zandi, chief economist at Economy.com. Richard Yamarone, chief economist at Argus Research in New York, said the Fed report may turn out to be too optimistic, especially if another wave of lay offs hits the economy, further shaking consumer confidence. “If you look at the various quarterly earnings reports of corporations, the general tone for new hiring still remains bleak,” Yamarone said. The Fed’s survey, known as the “Beige Book” for the color of its cover, will be used by pol icy-makers when they next meet to set interest rates on May 6. While analysts said the cen tral bank could cut interest rates at that meeting if there are fur ther signs of deterioration, many predicted that the central bank would leave rates unchanged, preferring to see if the end of the u If you look at the various quarterly earnings reports of corporations, the general tone for months the recovery as investors grew coma about what a possible wariil would do to business prospe The Fed survey, basede r veys conducted by the regional Fed banks, covert period from right W President Bush ordered thel airstrikes against Iraq on Si 20 through April 9 wheiil forces took control of Baghi “Reports on consumer^ ing were generally weal March." the repon said,^ s P™"' e g r "attributed part of the wet , , :ame into the to poor weather and the onii ^ jj ie p the war.” new hiring still remains bleak. y> The survey also founded ued weakness in manufacii but said that “pocket; improvement” were noieii more than half of the Fee* j nc isey, to sp tricts in a variety of ink ^[ng with e; from defense contractorstoi — Richard Yamarone Economist ufacturers of hardware, c« yho not onl Iraq war will generate a rebound in activity. “The Fed is in no hurry to change policy, particularly if there are budding signs of eco nomic life in the post-Iraq world,” Zandi said. Since January 2001, the Fed has cut interest rates 12 times. The last reduction on Nov. 6 pushed the federal funds rate, the interest rate that banks charge each other, down to a 41- year low of 1.25 percent. The economy began to recov er last year, but in the last three alent, but sh br the game. “Tennis w o get into gi er chips and machine tools. The Fed survey found while labor markets rei soft, some districts reponei the pace of layoffs had bepRaid. “We jus slow and there were scs he beginning improvements in demand temporary help. The survey found tk Richmond, Va., Fed diss which includes Wash::: ipparent that D.C. observed a modest pi in activity during the ______ period, but six other Fedd: — Boston, Cleveland, At! St. Louis, Dallas Francisco — all characttti economic conditions in areas as “still mixed orsol He< By Bit THE Most ten bom with a ( hat matter, wm into a fa ranches off i Growing l asy for Ashh tennis. In fa< Ashley and :d by parent wasn’t prepa ood. She did much pressun It wasn't more than ju 1. 2. NEWS IN BRIEF Minorities could be hurt in SS overhaul WASHINGTON (AP) Minorities are greatly helped by disability and survivor benefits in the Social Security system and would be hurt by an overhaul that instead linked benefits mostly to contributions, gressional auditors say. con- The General Accounting Office report Wednesday appeared to contradict contentions by sup porters of Social Security-linked personal investment accounts that minorities fare worse in the current system. President Bush has proposed letting younger workers invest a portion of their payroll taxes in the stock market, much like a 401 (k) plan. Proponents have said w ties are hurt in the curra tern because, on average don't live as long as white: earn benefits for a shortei A system of personal acid would let minorities beje their earnings to family, s! income wouldn't be lost' say. 4. 5. 6. 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