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
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By Bit
THE
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bom with a (
hat matter,
wm into a fa
ranches off i
Growing l
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tennis. In fa<
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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.
Oklah
(909
Missc
(910
Texas
(918
Oklah
(923
Nebrs
(926
Kanss
(936
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