2
University Daily Kansan
Nation/World
Tuesday, April 8, 1986
News Briefs
GM regains top spot on Fortune 500 list
NEW YORK — General Motors Corp. has regained the No. 1 spot on the Fortune 500 list as the country's largest industrial company after a six-year absence.
GM's sales went up 13 percent, to $6.6 billion. Exxon Corp, which held the top spot from 1980 through 2017, No. 2, with sales of $8.7 billion.
Video whiz charged
In the 32 years that the financial magazine has compiled its popular list, only two companies — General Motors Corp. and Exxon Corp. — have held the No. 1 position.
NEW YORK — A 15-year-old computer whiz was charged with second-degree murder yesterday for allegedly stabbing to death a fellow computer buff in an argument over money while the two were playing video games.
The body of David Chow, 15, was found lying amid 500 computer games on the floor of his locked bedroom in the Woodside section of Queens.
Eastwood leads race
CARMEL, Calif. — The most publicized mayoral campaign Carmel may ever witness came down to its last day yesterday with the village's star candidate, Clint Eastwood, buoyant about his prospects.
No bail was set for Sagulabah Boon Yam, also of Queens. Yam was charged as an adult despite his age.
Eastwood campaign organizers said a survey of nearly half of the village's 4,124 registered voters indicated the box office star was leading incumbent Charlotte Townsend 65 to 35 percent.
Prints of kids taken
Volunteers began setting up stands in 2,000 shopping malls across the United States and Canada yesterday, beginning a KIDS Safety Week campaign to fingerprint 10 million children.
Albert Susman, director of the program for the International Council of Shopping Centers, said yesterday that the only record of the prints would be given to parents or guardians.
From Kansan wires.
Norway's oil field strike boosts prices
United Press International
Oil prices soared by more than $1 a barrel yesterday as a strike in Norway's North Sea oil fields removed almost 1 million barrels a day from the gluttened world market, and Vice President George Bush wound up an inconclusive visit to Saudi Arabia.
Analysts said the strike that began Sunday by kitchen workers on Norway's offshore oil rigs would bolster prices — at least temporarily — by shutting down about 900,000 barrels a day of North Sea oil production.
But observers were divided over whether the strike represented a backdoor accommodation on the part of the Oslo government with OPEC, which has driven down prices more than 50 percent since December by flooding the market in a campaign targeted at forcing Britain and Norway to curb their output.
Bush said the Reagan administration would not dictate to other countries what the US should do.
Bush ends trip minus agreement
Bush said he had not found any common solution in talks with King Fahd and senior Saudi officials on
MANAMA, Bahrain — Vice President George Bush ended a four-country visit to the Arabian peninsula yesterday without an agreement on oil pricing strategy.
United Press International
"We didn't go in there to lean on somebody to do one thing or another," said Bush about his talks with King Fahd and other Saudi officials, who control 25 percent of the world's proven oil reserves.
Bush's visit to Saudi Arabia, Bahrain, Oman and North Yemen comes amid an escalation in the Iran-Iraq war and a sharp fall in oil prices.
ways to end the oil price collapse that has been blamed in part on the kingdom's overproduction.
Saudi Arabia, the world's largest oil exporter and OPEC's largest producer, decided several months ago to double its oil production — a move widely interpreted as a bid to drive down prices to punish other producing countries.
"We don't have any plan for stabilizing prices," Bush said.
In the European market, Britain's benchmark Brent crude surged by $1.80 to $2 a barrel as the North Sea oil strike entered its second day and Norwegian government officials said they had no plans to intervene. Brent
crude for May delivery shot up to $14.10 a barrel.
Bush, however, absolved the Saudis of blame for the recent price plunge that has put the domestic U.S. oil industry into a tailpinn and wracked the oil-producing states of the Southwest.
"It seems to me difficult to blame one country whose production is historically down when others have raised their production," he said, "even though that one country is the dominant producer in OPEC."
On the New York Mercantile Exchange, West Texas intermediate — the key U.S. crude for immediate delivery — jumped by $1.59 to $14.33 a barrel. Regular leaded gasoline leapt by 3.18 cents and home-heating oil by 4.51 cents a gallon.
Despite yesterday's rally, Mobil Corp. cut the price it will pay for
West Texas intermediate by 50 cents, to $13.75 a barrel and Amoco Oil Co. dropped its buying price by 75 cents, to $14.25 a barrel.
Oil prices plunged below the critical $10-a-barrel mark early last week and then rebounded after Bush he would appeal to Saudi Arabia for oil price stability because the U.S. oil industry and national security interests were at risk.
Bush's remarks set off a furor about a possible shift in U.S. oil policy and prompted the White House to reiterate that it still thought oil prices should be set by free market forces.
Nevertheless, oil sources said Bush issued a veiled warning to the Saudis that the United States might be compelled to try to end the price slide if the U.S. oil industry is crippled further.
Some analysts contend the North Sea strike has allowed Norway to quietly cooperate with the Organization of Petroleum Exporting Countries, which has urged independent producers to join the cartel in restraining output to prop up prices. Britain has adamantly resisted OPEC's calls that it reduce production.
Attack possible, Reagan aides say
But Alvin Silber, analyst at Breat,
Murray, Foster Securities in New
York, said, "I would be skeptical of
too much spillover from what
appears to be a local labor issue in
Noway to a world-oil-price OPEC
issue."
The Associated Press
WASHINGTON - President Reagan was said yesterday to be studying the possibility of a military strike against Libya as the United States compiled evidence that the renegade Arab republic was involved in the fatal bombing of a West Berlin disco.
Ambassador Richard Burt, the U.S. envoy to West Germany, said there were very clear indications that Libya was involved in the nightclub bombing that killed an U.S. Army sergeant and a Turkish woman.
On his return from a California vacation Sunday, Reagan refused comment when reporters asked him whether he planned to strike at the Libyan leader. He ignored questions yesterday as he left the White House to watch the start of the Baltimore Orioles' season-opening baseball game against the Cleveland Indians.
When asked whether he favored a military move against Col. Moammer Khadafy, Burt said that Reagan was studying the issue.
Cleveland Browns.
At the White House, spokesman Edward Dijerjeian said the administration would "have to reserve final judgment."
Burt, however, indicated the United States had intelligence information before the Berlin bombing that the Libyan Embassy in East Berlin was planning a terrorist attack.
But Djerejian said the weekend explosion in West Berlin and the bombing last week of a TWA jetliner over Greece followed the "pattern of indiscriminate violence which we have traced to the types of terrorist activities that Col. Khadafy has sponsored in the past."
Dierejan said one action the United States was seeking after the two recent terrorist incidents involving U.S. citizens was "the possible closing of more Libyan People's" Buraues known to be the source of terror planning and activity."
Although the European allies have declined in the past to go along with U.S. attempts to coordinate the economic and diplomatic isolation of Khadafy, Djerejian said the latest terrorist incidents, "both on European soil, have sensitized the Europeans to the danger, that the danger is really at their doorstep, not only at our doorstep."
Philippines facing a financial crisis
From Kansan wires
ternational Peace.
WASHINGTON — The Philippines finance minister said yesterday that his country needed an additional $100 million in U.S. economic aid, plus $80 million in loans, to avert a financial crisis that could undermine the new government of Corazon Aquino.
"We are in an emergency situation," Jaime Ongpin said in a speech at the Carnegie Endowment for Ina strong infusion of economic aid," Weinberger told a news conference at Manila airport.
I re said the Aquino government would not have enough money to pay its bills for the rest of the year unless it gets help.
Defense Secretary Caspar Weinberger told Aquino the United States was ready to send economic and military aid to keep communist rebels and political unrest from destabilizing the new government.
"I think that there will certainly be
Weinberger was hounded at every juncture of his visit by more than 100 leftist demonstrators from citizens opposed to U.S. intervention in the Philippines.
Congress already is considering $100 million for the Philippines, in addition to $214 million previously approved, and is considered rather like to appropriate the larger amount.
Israelis attack guerrilla bases for a third time
But Onpigna said it was equally import for Washington to help persuade the International Monetary Fund and commercial banks to make $580 million in previously approved funds available by the end of June. He also said the United States should put pressure on Japan to give assistance.
"This role is as important as direct U.S. aid," he said.
The Associated Press
SIDON, Lebanon — Israeli warplanes streaked through a barrage of ground fire yesterday and bombed Palestinian guerrilla strongholds near refugee camps around this southern port.
It was the third Israeli air raid this year on the Sidon area, where guerrillas have been rebuilding bases destroyed by Israel's 1982 invasion.
Police said five Palestinians and a Lebanese woman were injured.
State-run Beirut radio said two people were killed and 22 wounded in the 45-minute air strike on bases near the Ein el-Hilwhe and Mieh-Mieh refugee camps, and at the hilltop village of Siroubieh. There was no confirmation of the radio report.
A guerrille spokesman said there were no casualties among Palestinian fighters because they evacuated most of the military centers after the last Israeli air strike March 27, which killed 10 people and wounded 22.
At least one 10-plane formation carried out seven dive-bombing attacks.
Going HOLLYWOOD
A SEMINAR
EVERY THING YOU WANT AND NEED TO KNOW ABOUT A CAREER IN "SHOWBIZ"
- GARY SHAFFER- Independent Casting Director - TRAPPER JOHN, MD,
DYNASTY, C. H. I. P. S., STARSKY & HUTCH
- JOHN LAROCCA - Agent - Has represented JOE PENNY (RIPTIDE), MICHELLE PFEIFFER (SCARFACE) DEMI MOORE (ST. ELMO'S FIRE), LINDSAY BLOOM (MIKE HAMMER)
- GRETA BLACKBURN- Actress, 48HOURS, DYNASTY, MIKE HAMMER
- GARY WOOD- Star of HARDBODIES, HILL ST. BLUES, CAGNEY & LACEY,
DYNASTY
- RAYMOND LA PIETRA - PRES. OF CAREER IMAGES MODEL & TALENT AGENCY INC., KANSAS CITY - Local overview of modeling opportunities
LEARN HOW TO PREPARE YOURSELF·WHERE TO GO WHEN TO GO,WHAT TO DO WHEN YOU GET THERE!
WHEN: SATURDAY - APRIL 12, 1986
9:00 AM - 5:00 PM
WHERE: MAIN BALLROOM
BROOKRIDGE GOLF & COUNTRY CLUB
8223 W. 103 rd ST.
OVERLAND PARK, KANSAS 66212
FEE: $75.00
RESERVATION & INFORMATION: PATRICK LEGLER (913) 648-1600 RESERVE NOW - SEATING IS LIMITED!
Dinner
5:30-7:30
Kansas Union
Cafeteria
Menu
Rice Hash Arabian
Rice Kappoon
Tahali Al-Omran
Desserts:
Karner el dimir Syrups
Soft Drinks & Cinnamon Coffee
Cultural Show (including a Belly Dancer)
7:30, Kansas Union
Ballroom
Menu
Chicken Curry Arapahi & Indian
Roast Lamb Arapahi & Indian
Rice Pudding Arabian
RICE PUDDING Arabian
Tabasauli Arabian
Soft Drinks & Cinnamon Coffee
Malaysian Vegetables
Desertis
Bakkawele & Turkers
Kamel el dharu Thais
Cultural Show including a Belly Dancer
7:30, Kuala Lumpur
Ballroom
Tickets on sale at the SUA Office or the International Club Office: 115b Adults $4.00 Club Members $4.00 Tickets $6.00 at the door
Paid for by Student Activity Fee