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University Daily Kansan. November 3. 1981
Page 5
Rally
From page one
the United Nations building in June," Justice said.
Several states have tried to pass bills on divestment but only Michigan has succeeded. Nebraska passed a resolution and the Concord district passed a bill, but the governor veted it.
Though other states have been partially successful in divesting state funds from companies in South Africa, Kansas might be better off paying a bill to the same justice. Justice said.
"I was ashamed that Kansas had nothing to offer at the conference," he said.
BETTY JO CHARLTON, D-Lawrence,
another member of the panel, said she
believed the case was a hoax.
She said she planned to co-sponsor the bill, but said that it would time to get the bill addressed.
"If we could get as many as one-fourth on the bill, that's half what we need to get it passed," Charlton said. "That's being optimistic. It takes a while."
Though Justice is optimistic about his bill—he intends to have the bill presented in the 1982 session—he said he would have a resolution drawn up, "just in case," he said.
Charlton explained, "A resolution does not have the force of law, it just states the legislature's feelings. It's just starting to get the message out."
JUSTICE SAID he wanted to "cover the whole waterfront" with the divestment bill,
including state employees' pension funds and endowment funds.
Members of KU Committee on South Africa, who sponsored the panel discussion, have protested for the divestment of Endowment Association funds from companies involved in South Africa since 1978. The committee has concluded that, however, is a private corporation, and would not be obligated to follow a law regulating the divestment of state funds.
"If Norman wants to jump in with both feet, I'll go along with that," Charlton said.
But Justice said he was looking for the strongest bill he could prepare, and Charlton is working on it.
The panel discussion ended yesterday's DACA committee sponsored by the Committee on South Africa.
Charlton said it might be much longer and
weave. "We have to create a culp of sup-
permanent punishment."
Babacar Taucer, coordinator of the corn mills, such as, "KU, how much longer, KKK"
One of the committee on South Africa's goals is to create a climate of support, and last spring, the American Association of University Professors decided to support the group.
Housing
Dave Schulenberger, president of the AAUP said the Endowment Association defended investments in South Africa because of the "prudent man rule."
From page one
giving the money directly to the renter instead of to the landlord.
"There is a danger that the person could lose the money or use it on something other than the reward."
Murrell said that the voucher system was also vulnerable to fraud.
*"New York state uses a voucher program for its food stamp program and it is riddled with
Murrell said that he had been keeping up on the proposed changes in trade magazines, but that no date had been given when it would take affect.
Murrell said, however, that the voucher system would be administered by the local housing authority and that that agency would have the obligation of eliminating fraud.
"Right now it is just a proposal," he said,
"nothing can happen until it get congressional approval."
Kansas is joining a growing number of states and universities that are considering the social consequences of their investments in South Africa.
By PATTIHACKNEY Staff Reporter
A bill to be introduced during the next legislative session by Rep. Norman Justice, D-Kansas City, Kan., would require all state funds to be divested from corporations in South Africa. It would also prohibit Michigan, Connecticut, Nebraska and California in addressing this question with legislation.
Divestment is the selling of any holdings of corporations involved in South Africa.
Kansas to consider divestiture policies
The movement has gained national support at many universities. More than 24 universities have sold at least part of their South African holdings, including such prestigious names as Yale, Harvard, Smith, Columbia, Brandeis and Boston universities.
Analysis
Seven universities have divested all their funds from South African corporations: Michigan State University, University of Wisconsin, University of Massachusetts, Hampshire College, Antioch College, Ohio University and Indiana Central University
MOST PROPONENTS and opponents of divestment agree that the South African government has established a repressive, white-rights based policy on the rights of a black majority are oppressed daily.
Whites, who compose only 16 percent of the population, control 87 percent of the land, according to Ed Dutton, associate professor of social welfare, and member of the KU Committee on South Africa. Also, per capita income is about 14 times that of black Africans, ($13 per month for every white man, woman and child as compared to $5.30 each month for every black).
Proponents of divestment contend that U.S. corporate involvement in South Africa financially supports government institutions that have racist policies.
However, opponents of divestment content that corporate involvement in South Africa is a good influence on the oppressive government and can also poor practices while promoting fair social policies.
How would a bill such as the one Justice is sponsoring affect Kanasa financially?
The bulk of money that would be affected by the investment of state funds is the Kansas Public University.
KPERS, worth more than $1 billion, is a statewide retirement system for more than 1,000 agencies with 11 different retirement programs. Civil service employees are mandatory members of KPERS after one year of state employment.
KPERS HAS more than $15 million in common stocks and $62 million in corporate bonds invested in corporations that have holdings in South Africa.
The consequences of divesting this large an amount of money is hard to assess. No fiscal impact statement will be done by the state until after the bill is actually introduced.
The Kansas University Endowment Association would not be affected by a state law because they are a non-profit, corporation. Even if KU officially adopted a state law, the Kansas University Endowment Association would not be affected because of its private status, according to Dutton.
However, other states have prepared studies. The most complete study done on disvestment to date is a California study on the use of ethical standards in determining what investments the California state pension funds, the largest retirement fund in the nation, makes.
The national Council on Economic Priorities was commissioned to determine whether there were any financial or legal barriers to using ethical criteria to make investment choices. The Board of Directors established to disseminate unbiased and detailed information on the practices of U.S. corporations.
The Council said transaction costs necessary to sell off the South African securities and reinvest reduce return on the overall portfolio by only one-half of one percent.
CEF's findings last year reported that
civilian would suffer no significant financial
contracts.
ON THE LEGAL side of this issue, CEP investigated how dwimvestment would affect the
"prudent man rule," a law that requires that investments be conservative to protect the earnings of the fund. The CEP report stated, "There is nothing in the law to bar the use of ethical criteria as long as financial criteria are met as well."
However, this opinion has not been tested in the courts.
The California bill for divestiture has been introduced in the legislature, but has not been acted upon.
A fiscal impact statement from Connecticut reported that any loss from divestment would happen only if interest rates continued to rise indefinitely. But if interest rates dropped over a period of time, sale of those bonds would be easier and little or no loss would occur.
Connecticut has a law restricting investment to those corporations that adhere to the Sullivan Principles, a set of ethical guidelines for corporations in South Africa. The guidelines emphasize fair labor practices and encouragement of corporate involvement in social equality issues.
Textbooks
From page one
manager at the University of Nebraska, said the NU athletic department had been discussing the possibility of providing books for women but still did not be able to afford it.
At the University of Colorado, both men and women receive books. Business manager Jon Burianek said providing the books was a big cost for an athletic department was actually buying them.
"All you're doing is pretending that you're lending them," he said. "We're essentially buying the books for all our athletes because they're not used." It would be used for more than one or two semesters.
ACCORDING TO National College Athletic Association rules, men cannot receive and keep books as part of their financial aid. Instead, students the books, much as a library operates.
Economy
From page one
Like NCAA rules, the Association of Interscholastic Athletics for Women rules require that books be submitted.
AND, HE ADDED, "We can't expect any help from the Democrates."
Speakes said that the president was against raising taxes by much more than $22 billion in "revenue enhancements" over three years, a plan that he proposed Sept. 24. Reagan's proposals include speeding up corporate tax relief for employers, reducing the dustrial bonds, lowering the threshold for taxing unemployment benefits and eliminating energy tax credits for businesses and individuals.
Senate budget writers have drawn a plan calling for more than $80 billion in tax increases over the next three years—including increased taxes on cigarettes and liquor and new limits on
consumer tax deductions for interest paid on credit cards and mortgages.
Dole said Reagan's balanced budget proposal was an "admirable goal," but indicated it might not be enough.
In light of Congress' reluctance to make further major budget cuts, Dole said if the administration was not willing to support some changes, "they are saving that we can live with deficits."
"If I was down there (at the white House) and I realized interest rates were coming down, I would be speaking a lot less about deficits," Dole said.
MEANWHILE, Treasury Secretary Regan said yesterday that the Reagan administration's
by mid-1882, producing "the greatest wave of prosperity this nation has ever seen."
Regan, who spoke yesterday to the 88th Annual Agricultural Outlook Conference in Washington, also predicted there would be a recession that would bottom out in the spring of 1882. There would be no massive unemployment during the recession, he said.
Regan's optimistic economic assessment was not shared by Joop Polek, a private economic forecaster, who said, "We see a longer recession and less relief from inflation."
He said the recession would last through the end of 1982 and predicted unemployment would rise to 9 percent or more at the end of 1982. He pointed to the fact that the inflation by several percentage points, he said.
Caffeine
From page one
Brewed coffee has about two cups the caffeine content of instant coffee. Decaffeinated instant coffee, contains only a few milligrams of caffeine per cup.
- Soda. Generally, ginger ale, club sodas, tonic waters, root beers and most fruit-flavored drinks have no caffeine. If caffinea is added, it must be label on the label.
- The four soft drinks having the highest caffeine content are Diet Mr. Pibb, Mountain Dew and Pepsi.
- Tea. The caffeine content of tea varies according to the type of tea leaves and the amount of coffee used.*
USUALLY TEA has about one-third the caffeine of coffee from a percolator. Herbal t teas are particularly rich.
have twice the caffeine of a one-minute brew of the same tea.
- Drugs. Many over-the-counter drugs as well as some prescription drugs contain a significant amount of caffeine. In pills sold as stimulants, such as NoDoz and Vivarin, the amount of caffeine is equivalent to about two cups of coffee. But pain relief, weight control and water loss preparations also contain large doses of caffeine, although there is no scientific evidence that caffeine serves any effective role in these products.
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