dci/'h - asu digital repository · vol. 7 no. 28 s«pt»mfa«r 8, 1978 the view from the top...

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dci/'H American Graduate School of International Management Vol. 7 No. 28 S«pt»mfa«r 8, 1978 The View from the Top Current Business Trends The Plunging Dollar by Matthew PoweH The news that the US trade deficit had widened from $1.6 billion in June to $2.99 billion in July sent the dollar plunging once more on the foreign exchange markets, August 29th, wiping out the gains of the previous two weeks. As President Carter flew back to Washington two days early from his rafting holiday to lobby support for his ailing energy bill, financial observers were wondering what further measures the administration might take to halt the inexorable slide of the dollar. The day before, the Federal Reserve Board had removed the reserve requirements for foreign borrowings by US banks, effective October 5th, to encourage repatriation of dollars. At the same time, the Federal Food target rate was raised to W* percent in an attempt both to attract more foreign investment and to douse the inflationary fires at home. This credit-tightening step was closely followed by the raising of the prime rate on corporate loans to 9¥4 percent, as the banks own cost of obtaining funds rose in response to the Fed's action. The Fed had also announced mat it intended to increase the quantity of gold offered at the monthly international auc- tions. These measures, along with expressions of concern by Carter and his economic advisers, were not sufficient to stem the tide. Even the news that the consumer price index had risen at a rate equivalent to 6 percent per annum in July, down from 10.7 percent for the previous three months, failed to prevent the fall. The dilemma facing the Carter administration looms larger almost daily. How can the government reduce the enormous trade deficit, now running at its fourth highest level ever, and maintain the effort to control inflation, as the Fed continues to limit the growth of the money supply, and yet avoid slowing in- dustrial production to the point where the economy moves into a fully-fledged downturn. Numerous analysts nave pointed to the danger that overly deflationary policies could send the US economy into a V shaped recession either next year or in I960, taking the rest of the trading work! with it. Even now industry in America is working at only 84 percent of capacity and July registered the steepest slow down in new factory orders since 1974. The other two giants of the industrialized world an- nounced moves to boost the faltering world economy. The German .government agreed on a $6 billion stimulus to the German economy and the Japanese may try to import a further $12.5 billion worth of goods by next March. The Japanese government has not yet approved the proposal, and such a boost to trade cannot be counted on as previous Japanese good in- tentions have often remained merely 'good intentions'. So, when the dollar begins to plummet once again, what could the Administration do to stop it before it went too far? Greater use could be made of currency swaps and interest rates could probably be pushed slightly higher, before money became so tight that it forced industrial production into a serious decline. But why have the rich countries paid so little at- tention to that facility which could substantially reduce pressure on the dollar, if only their governments were more enthusiastic about its in- tegration into the in- ternational economic system? Special Drawing Rights (SDKs) could make a real contribution to the stamlizationof exchange rates because they are measured against a basket of currencies. They could be both a way of reducing the danger of capital loss through currency fluc- tuations and a medium for the gradual expansion of in- ternational liquidity. This would mark a shift away from the dollar as the world's major reserve currency and it could provide trading nations with the 'grease' that would enable them to maintain gradual economic growth. Un- fortunately the possibility of working towards widespread use of SDKs has been con- sistently ignored by most governments. It appears that the Carter administration wiB remain inactive until the dollar's slide becomes a nose- dive and even the average American will be demanding action to stop it. Applications for the ex- change program with IIST, Japan, will be accepted by the Japanese Section of the Language Department from September 11 to Sept. 29,1978. The exchange program wiH be given at the Institute for International Studies and Training located at the foot of Mt. Fuji in the spring semester of 1979 (January 25 to Hay 25,1979). The program is open to all qualified students, but preference win be given to the students currently taking Japanese or those with a proficiency level equivalent to the intermediate level or higher offered at AGSIM. Participants of the exchange program can take a package of courses at IIST equivalent to one semester's load at AGSIM for the MIM degree. The exchange program is subsidized by IIST with free tuition, bousing, and a trip to the" Kansai Area toward the end of the program. Students who are interested in the program, please con- tact: Prof. A. Chang (Office No. C-27, Campus Tel. No. 7264) of the Language Department. An Interview with Dr. Vorto. by Tom Getting Dr. William Voris became (resident of AGSIM in 1971. He came from the University of Arizona Graduate School of Business Administration where he had been dean. Before that, he had moved up through the ranks of academic institutions, having been affiliated with California State University, Washington State University, and the American University in Beirut, Lebaimon. He received his Ph.D. in Business Ad- ministration from Ohio State University'. DAS TOR: Dr. Voris, what are your functions as president of AGSIM? Voris: Well, first of all, I'm the chief executive officer of the corporation; the school is a private non-profit educational corporation. This means I am the chief ad- ministrator of the institution and I'm responsible to the board of trustees for the success of the school. DAS TOR: How does the board judge the school's success? Voris: Success is judged by several things: l) that the school stay solvent, 2) that it retain and improve its reputation, 3) that its integrity is preserved as an institution of higher education, 4) that it stay accredited, which pots a stamp of approval'on what you're doing, and 5) mat the relationship with MNCs and governments and other universities is at a high level. That pretty much indicates what I do. I'm the chief fundraiser of the institution, the primary public relations person of the institution; I deal with the chairmen of the board, presidents of corporations, government, newspapers, magazines, journals ...I'm the primary contact. I'm also vitally concerned about the day to day administration. DAS TOR: This semester there is a larger number of students on campus. What are AGSBf's plans for the future? How do yon see the school growing? Voris: Fast of all, a very quick answer this school is not a growth institution. Growth is not one of our ob- jectives at all It's just the opposite. I have been fighting to keep the enrollment down. I would much prefer to nave a higher quality institution. So for the next five years, oroltoent is projected at about 900. As long as I'm here it will never be a growth in- stitution. If it is going to grow. it will be in the area of cor- porate support. DAS TOR: What is the breakdown of students this semester? Are more foreign nationals and women enroling ? Voris: Women have been increasing. I would guess there is about 20-25 percent women this time and 20-25 percent foreign students. Part of the education here is the foreign students. And the women are here because they're good, and the com- panies want them ... not as much as they say they do. They talk a lot more about wanting women than they perform. DAS TOR: Why is the tuition going up next semester? Voris: Tuition will have to rise just like toe price of meat will have to rise. We have to raise the tuition and rent on- dormitories. Reluctantly; we hate to. We've held back more than any other institution I know....The tuition hasn't increased very much since I've been here. Not nearly as much as the cost of living. Of DOV9 PrQf flpOCn Or. WU/tom Vorto DAS TOR: What win happen to the money derived from tuition increases? Voris: It will go right into the rases mat the faculty has had. The full professors nave had a 47 percent increase in salary over the last six years. Associates are on a com- parable amount. Every extra dollar goes into salaries and * increased expenses such as telephones and electricity. The school just operates in the black. It doesn't salt any money away. I wish it could. We have this year put $100,000 into endowments for the first time. We'd like to pot $100,000 in every year. DAS TOR: The North Central Accreditation Corn- Continued on Page 4 Women in Management Interested hi Learning More About Women in Management? We're anxious to establish a discussion group about "Women in Business" whose purpose would be: 1) to discuss various possibilities open to women in business and other occupations. 2) to invite speakers on this topic. 3) to open disucssion on any other areas of interest pertinent to the woman's role in the business community. We welcome men and women to join in the group. Our first meeting will be held Wednesday, September 6th, at 8:00 p.m. at the Crossroads Coffee House. We shall discuss the format of the group and future meeting dates at that time. Contact: Susan Serfontein or Diane Tntkeriy.

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Page 1: dci/'H - ASU Digital Repository · Vol. 7 No. 28 S«pt»mfa«r 8, 1978 The View from the Top Current Business Trends The Plunging Dollar by Matthew PoweH The news that the US trade

dci/'HAmerican Graduate School of International Management

Vol. 7 No. 28 S«pt»mfa«r 8, 1978

The View from the Top

Current Business Trends

The Plunging Dollarby Matthew PoweH

The news that the US trade deficit had widened from $1.6 billion in June to $2.99 billion in July sent the dollar plunging once more on the foreign exchange markets, August 29th, wiping out the gains of the previous two weeks. As President Carter flew back to Washington two days early from his rafting holiday to lobby support for his ailing energy bill, financial observers were wondering what further measures the administration might take to halt the inexorable slide of the dollar.

The day before, the Federal Reserve Board had removed the reserve requirements for foreign borrowings by US banks, effective October 5th, to encourage repatriation of dollars. At the same time, the Federal Food target rate was raised to W* percent in an attempt both to attract more foreign investment and to douse the inflationary fires at home. This credit-tightening step was closely followed by the raising of the prime rate on corporate loans to 9¥4 percent, as the banks own cost of obtaining funds rose in response to the Fed's action. The Fed had also announced mat it intended to increase the quantity of gold offered at the monthly international auc­ tions. These measures, along with expressions of concern by Carter and his economic advisers, were not sufficient to stem the tide. Even the news that the consumer price index had risen at a rate equivalent to 6 percent per annum in July, down from 10.7 percent for the previous three months, failed to prevent the fall.

The dilemma facing the Carter administration looms larger almost daily. How can the government reduce the enormous trade deficit, now running at its fourth highest level ever, and maintain the effort to control inflation, as the Fed continues to limit the

growth of the money supply, and yet avoid slowing in­ dustrial production to the point where the economy moves into a fully-fledged downturn. Numerous analysts nave pointed to the danger that overly deflationary policies could send the US economy into a V shaped recession either next year or in I960, taking the rest of the trading work! with it. Even now industry in America is working at only 84 percent of capacity and July registered the steepest slow down in new factory orders since 1974.

The other two giants of the industrialized world an­ nounced moves to boost the faltering world economy. The German .government agreed on a $6 billion stimulus to the German economy and the Japanese may try to import a further $12.5 billion worth of goods by next March. The Japanese government has not yet approved the proposal, and such a boost to trade cannot be counted on as previous Japanese good in­ tentions have often remained merely 'good intentions'.

So, when the dollar begins to plummet once again, what could the Administration do to stop it before it went too far? Greater use could be made of currency swaps and interest rates could probably be pushed slightly higher, before money became so tight that it forced industrial production into a serious decline.

But why have the rich countries paid so little at­ tention to that facility which could substantially reduce pressure on the dollar, if only their governments were more enthusiastic about its in­ tegration into the in­ ternational economic system? Special Drawing Rights (SDKs) could make a real contribution to the stamlizationof exchange rates because they are measured against a basket of currencies. They could be both a way of reducing the danger of capital

loss through currency fluc­ tuations and a medium for the gradual expansion of in­ ternational liquidity. This would mark a shift away from the dollar as the world's major reserve currency and it could provide trading nations with the 'grease' that would enable them to maintain gradual economic growth. Un­ fortunately the possibility of working towards widespread use of SDKs has been con­ sistently ignored by most governments. It appears that the Carter administration wiB remain inactive until the dollar's slide becomes a nose­ dive and even the average American will be demanding action to stop it.

Applications for the ex­ change program with IIST, Japan, will be accepted by the Japanese Section of the Language Department from September 11 to Sept. 29,1978.

The exchange program wiH be given at the Institute for International Studies and Training located at the foot of Mt. Fuji in the spring semester of 1979 (January 25 to Hay 25,1979).

The program is open to all qualified students, but preference win be given to the students currently taking Japanese or those with a proficiency level equivalent to the intermediate level or higher offered at AGSIM. Participants of the exchange program can take a package of courses at IIST equivalent to one semester's load at AGSIM for the MIM degree.

The exchange program is subsidized by IIST with free tuition, bousing, and a trip to the" Kansai Area toward the end of the program.

Students who are interested in the program, please con­ tact: Prof. A. Chang (Office No. C-27, Campus Tel. No. 7264) of the Language Department.

An Interview with Dr. Vorto.

by Tom Getting

Dr. William Voris became (resident of AGSIM in 1971. He came from the University of Arizona Graduate School of Business Administration where he had been dean. Before that, he had moved up through the ranks of academic institutions, having been affiliated with California State University, Washington State University, and the American University in Beirut, Lebaimon. He received his Ph.D. in Business Ad­ ministration from Ohio State University'.

DAS TOR: Dr. Voris, what are your functions as president of AGSIM?

Voris: Well, first of all, I'm the chief executive officer of the corporation; the school is a private non-profit educational corporation. This means I am the chief ad­ ministrator of the institution and I'm responsible to the board of trustees for the success of the school.

DAS TOR: How does the board judge the school's success?

Voris: Success is judged by several things: l) that the school stay solvent, 2) that it retain and improve its reputation, 3) that its integrity is preserved as an institution of higher education, 4) that it stay accredited, which pots a stamp of approval'on what you're doing, and 5) mat the relationship with MNCs and governments and other universities is at a high level. That pretty much indicates what I do.

I'm the chief fundraiser of the institution, the primary public relations person of the institution; I deal with the chairmen of the board, presidents of corporations, government, newspapers, magazines, journals ...I'm the primary contact. I'm also vitally concerned about the day to day administration.

DAS TOR: This semester there is a larger number of students on campus. What are AGSBf's plans for the future? How do yon see the school growing?

Voris: Fast of all, a very quick answer this school is not a growth institution. Growth is not one of our ob­ jectives at all It's just the opposite. I have been fighting to keep the enrollment down. I would much prefer to nave a higher quality institution. So for the next five years,

oroltoent is projected at about 900. As long as I'm here it will never be a growth in­ stitution. If it is going to grow. it will be in the area of cor­ porate support.

DAS TOR: What is the breakdown of students this semester? Are more foreign nationals and women enroling ?

Voris: Women have been increasing. I would guess there is about 20-25 percent women this time and 20-25 percent foreign students. Part of the education here is the foreign students. And the women are here because they're good, and the com­ panies want them ... not as much as they say they do. They talk a lot more about wanting women than they perform.

DAS TOR: Why is the tuition going up next semester?

Voris: Tuition will have to rise just like toe price of meat will have to rise. We have to raise the tuition and rent on- dormitories. Reluctantly; we hate to. We've held back more than any other institution I know....The tuition hasn't increased very much since I've been here. Not nearly as much as the cost of living.

Of DOV9 PrQf flpOCn

Or. WU/tom Vorto

DAS TOR: What win happen to the money derived from tuition increases?

Voris: It will go right into the rases mat the faculty has had. The full professors nave had a 47 percent increase in salary over the last six years. Associates are on a com­ parable amount. Every extra dollar goes into salaries and * increased expenses such as telephones and electricity. The school just operates in the black. It doesn't salt any money away. I wish it could. We have this year put $100,000 into endowments for the first time. We'd like to pot $100,000 in every year.

DAS TOR: The North Central Accreditation Corn-

Continued on Page 4

Women in ManagementInterested hi Learning More About Women in Management?

We're anxious to establish a discussion group about "Women in Business" whose purpose would be:1) to discuss various possibilities open to women in business and other occupations.2) to invite speakers on this topic.3) to open disucssion on any other areas of interest pertinent to the woman's role in the business community.

We welcome men and women to join in the group. Our first meeting will be held Wednesday, September 6th, at 8:00 p.m. at the Crossroads Coffee House. We shall discuss the format of the group and future meeting dates at that time. Contact: Susan Serfontein or Diane Tntkeriy.

Page 2: dci/'H - ASU Digital Repository · Vol. 7 No. 28 S«pt»mfa«r 8, 1978 The View from the Top Current Business Trends The Plunging Dollar by Matthew PoweH The news that the US trade

2 DAS TOR September 8, 1978

do/"The Gate"

of The Amerkon Groduort School of Intwnotio Gtadota, Arizona 85306

tttar-fe-OM AssbtMtUtor

Artwork Staff

Tom Ottiing Sue Bloom

PutWcArdlt Jan Willrford

Eric Choterton 'L&w Undputst Dovt Homooch

Borboni Gnffwi DobtQ ronisoft, BHl Thompson

rTwiip roster, cntny KoyftS lisa MdrcMio, Tina Rardci

Matthew Poweli, Susan Serfonfwn Ann CniRwr, Owe TuttMriy

Jeff Priteson, firry Thompson Aghc Sowd, Dove Boom lorry Wotfe.Chip Wood,

Mke Johnson, Efeobtth Bames!

DAS TOR is an independent campus newspaper ot the American Graduate School of Internationa! Management. Opinions expressed are not necessarily those of the DAS TOR staff.

Entertainment CalendarTHEATER"Hold Me" based on the cartoon's of Jules Feiffer.Phoenix Little Theater at 8 p.m. Call 254-2151 for info."Butterflies are Free" enjoy a show and dinner. WindmillDinner Theater. 948-6170 or 955-1801 for times and prices."Bullshot Crurnmond" a hilarious "who-dun-it" in thetradition of A. Christie.ASU Lyceum Theater at 8 p.m. Call 965-3437 for da tes.

CONCERTSLaser-rock. Sept. 12-16tb in the Symphony Hall. Call 262-7272.Asleep at UK Wheel at Dooteys. Sept. 12th.The Magic of Friedhoffer Playboy Club in Phoenix. Amagic-man who must be seen to be believed.

9 "*?• v W -^r w »

Letter to the Editor

Dear Editor,Last semester ! waited in

line with a few hundred other students to enroll in the classes in which I am presently registered. During that period of waiting and enrolling, I was forced to miss two of my classes at a crucial period late in the semester. It is my belief that these missed class periods are, in effect, being stolen from those of us who expect full value for our hard-earned or borrowed tuition dollars. It angers me to be coerced into absesteeism when I have satisfied the financial obligations for that privilege.

There is also the possibility that a person with a border­ line grade could have that grade lowered and could be given a make-up assignment because of an additional absence. Dr. Jorge VaJdivieso, chairman of the Modern Languages Depart­ ment, has written that in language classes, "good at­ tendance is imperative." It seems to me to be incongrous to be expected to attend class on the one hand, and be forced to be absent on the other.

Therefore, I propose that in the future, registration be held on a Saturday or during a period in which students do not have classes.

Sincerely, JayC. Brandonin

Night Moves and Great Escapesby Ginny Thompson

Due to the housing shortage many new students are spending a great deal of time trying to get on campus. However, veterans know the seeming desirability of campus life to be a quickly passing delusion and that getting off campus will become a primary objective. Amazingly enough, strange faces will soon become all too familiar and The Pub as stale as its popcorn. Before this critical degree of cabin fever develops, bead for one of the following places to reestablish contact with the outside world so vital for maintaining morale. Keep in mind the added benefit that acquain­ tances made off campus do not have to be confronted the next morning in a 7:30 AH Spanish class.

The first listings are three places dose to campus chosen for ijrifto accessibility. SEA BREEZE

Conveniently located to campus, the SB has good entertainment potential if the crowd is right. Evidently the "denizaes" vary according to the time of day, and one runs the risk of bitting the "construction crowd" as our hapless reporter did. However, people are ex­ tremely friendly, and its worm the trip if only to view

the elaborate ait work in the "John" and "The Olivia Newton-John" as the facilities are respectively designated.

The SB is "a kick-back type place" and a wide range of recreational activities are available. These include a voUeyball court, horseshoes, electronic games, and darts. To quote Jim the bartender, "There are also a lot of weird things to do on week-ends." These include amoeba races (groups of people tied together in a circle challenging another group so entangled), tug-of- war, and out-door bar-b-ques.

The SB is a collection of small adjoining rooms at­ tractively done with greenery, flagstone floors and wooden tables. A stone fireplace in one nook and a large airy "plant room" devoted entirely to large plants with a skylight are inviting places to relax.

SB serves a variety of wines by the glass or bottle and several varieties of beer. A friendly and informative bar­ maid was also" available but it "might take some time to locate it". No cocktails are served but the atmosphere is not exactly "margarita" or "pina colada". Lest the ladies be put off from ven­ turing to the SB the "bouncer" is a former Playgiri pin-up and very helpful.

SB comes highly recom­ mended as a quick refuge with

more than its share of local color in the Glendale desert. MOLLY BROWN'S

A good way to set the mood for Thursday night at the Pub for its faithful fans might be an early evening trip to Molly Browns for a free disco dancing lesson. Thursdays are a big night at Molly's Free disco lessons are given from 8:30 to 10:00 and $3 buys all the beer, wine or magaritas you care or are able to consume.

The atmosphere at Molly's is not exactly sophisticated and the decor looks like a custom job from the K-Mart next door. The dance floor is small, the place is dark, and the music ranges from mediocre to good. However, if your mood fits the poster displayed on the doc-jockey booth "Oh God, Please Help Me Score Tonight" keep in mind that many success stories have come out of Thursday nights at Molly's. You may not even make it back to the Pub. THE PITS

The third Glendale choice is aptly named. Don't go unless you are in them and want to stay there. Either that or you are attracted to American Legion Hall atmosphere and are into polyester and white shoes.Next Week-Adventures away from Glendale

DR. LAWRENCE A. PEARLOPTOMETRIST

10% OFF ON ALLSERVICES AND EYEWARETO A.G.S.I.M. STUDENTS

AND FAMIL.IES.

OFFICE HOUR? BY APPOINTMENT

SI 12 W. NORTHERN AVE. GLENDALE. ARIZONA

TELEPHONE 937-1516

KACHINA PHARMACY»<£

Located in Thunderbird Medical Plaza

We mill fill your Rx under your insurance program

PCS - Master Charge - BankAmerkard

5422 W. Thunderbird Road Glendale, Arizona 85306 9384260

$ ESSAY CONTESTSThe Topic:

In his commencement speech at Harvard University last May, Alexander Solznemtsyn made the following remarks about Western society:

"A decline in courage may be the most striking feature which an outside observer notices in the West in our days. The Western work! has tost its civil courage, both as a whole and separately, is each country, each government, each political party and of course in the United Nations. Such a decline in courage is particularly noticeable among the ruling groups and the intellectual elite, causing an impression of loss of courage by the entire society. Of course there are many courageous individuals but they have no determining influence on public life ...

Should one point out that from ancient times decline in courage has been considered the beginning of the end?..."

Do you have an opinion about this comment pro or con? If so, then you should write an essay defending your opinion and you may win $200 for first prize, Slffi for second prize. $75 for third prize, or $50 for fourth prize. The length should be no longer than 10 double-spaced typed pages. The deadline for essays is 4:00 p.m., October 6th, Essays should be delivered to the DAS TOR. The winners will be chosen by a panel of qualified judges from around the city, and the first and second place winners will be published in the DAS TOR.

ALL students are eligible. Interested students may come to the DAS TOR office for more in­ formation or see the editor.

The Crossroads CoffeehouseThe Crossroads CoSeebouse would like to announce its new

location in toe Coleman Lounge. Fall boors wffl be from 8:00- 11:30 p.m. Sunday thru Thursday and 11:00 a.m. to 2:00 pan. on Sunctoy for those interested in reading the Los Angeles or New York Times over a cop of coffee. We do need volunteers (and alternatives) for two hour shifts (weekly) and we'd appreciate the help of anyone interested. It is our goal to arrange entertainment and special refreshments every Wednesday riight and we welcome all chd» wishing to meet in the Coffeehouse to make special arrangements with us. Remember, the Crossroads Cofieehotoe requires a cooperative effort-you make the Coffeehouse what it is.

For information call: Victor Kbxk, 7336.

\

Glendale Shadows10 MINUTES FROM CAMPUS

LUXURY APARTMENTSRECREATIONAL FACILITIES

2 HEATED POOLS

BILLIARDS SAUNASCLUB ROOMS. ETC

FURNISHED UNFURNISHED280R 4EFF UNITS IBOR43BDR.

1AJW 2 BcTJROOMS WITH SEPARATE ADULT EFFICIENCY UNITS

5902 W. ROYAL PALM RD., GLENDALE

O« ]» *> AM. l»l»» Oil..

937-1689

Page 3: dci/'H - ASU Digital Repository · Vol. 7 No. 28 S«pt»mfa«r 8, 1978 The View from the Top Current Business Trends The Plunging Dollar by Matthew PoweH The news that the US trade

I, 1978 DAS TOR 3

Mr. Alumni Egypt: The turbulent Seventies

Photo by Oov* Hornfaoch

MicSo*/ E. Btlmtt. alumni director

by PhflHp Fatter

If you haven't met Michael Blimes yet or heard about tbe Alumni Office just wait awhile and he will catch up with you. For those returning and new students who don't know who be is, Kike Blimes is tbe enthusiastic Director ot Alumni Relations. He was named director on April 1,1978.

Blimes comes to AGSIM from Ohio State University where he was a development officer. Before Ohio State he served as senior development officer at Albion College, Albion, Michigan.

Blimes sees his office as the vital link between T-Bird Alumni, both graduted and presently enrolled students. The Alumni Office maintains up-to-date records of all T-Birds, where they are and what they are doing. He helps in organizing alumni chapter meetings and he often travels around the country to the chapter meetings. He most recently returned from Chicago where there was a large gathering of T-Bird alumni

Part of his job is raising money for Thunderbird through the alumni. As Blimes sees it every T-Bird should be willing to give something back to their school. He says he makes it known to the alumni that the school needs their financial support The money he raises goes into the Thunderbird Fond.

According to Blimes the majority of this fund is put into operating expenses and as much as possible into scholar­ ships. But he said that he doesn't know what the percentages are.

M. David Merchant, director of development and public affairs, says that the scholarship fund is considered to be an operating expense, so as the Thunderbird fund grows so does tbe general scholarship fund for the students. Merchant pointed out that some donors specify what their money is to be used for, such as scholarships, otherwise the donations go into the general fund to be used at tbe discretion of the school.

The Thunderbird Fund began three years ago. The first year, BUmes said, the fund was at about $80,000 and the second year at $100,000. He sees the figure for the present year to be even greater.

A Phone-a-thon wffl be conducted this fail to soliri} donations from alumni. This win take place in late November. Students will be needed as volunteers. Blimes welcomes anyone to stop by his office for more information.

What concerns BUmes the most is the lack of student awareness of the Alumni Office and what it has to offer. The office publishes several sources of information that can be used by alumni and students who are now enrolled at AGSIM. The Thunderbird magazine and the Ttunderbirdi Overseas are the two most visual publications. Bom of these contain information about T-Birds, where they are and what they are doing. According to BUmes this information can be a valuable resource when going into a new area of the world and looking for a job. He says mat just by being a T-Bird Alumnus opens doors with other alumni

Blimes feels that T-Birds are a unique breed of people. Wherever you go in the world there most likely wffl be a T- Bird who wants to help make the connection.

One thing Blimes says he needs is feedback about tbe direction and effectiveness of his office. To get this feedback there is tbe Student Alumni Advisory Council. This council disqifflput tbe Alumni program and makes suggestions for improvement. For the council Blimes says be is looking for students "with leadership ability and who want to promote the school." If anyone is interested in participation on the council they should stop by Blimes' office. But he warned that be "doesn't take everybody."

Blimes encourages aD students to stop by his office to meet him and his staff and to get to know tbe Alumni Office and what services they can provide you now and in the future as T-Bird Alumni.

Graphic Artist NeededThe DAS TOR needs a

graphic artist to do artwork and cartoons, etc. Any in­ terested students should apply at tbe DAS TOR office or see Tom Gething, tbe editor.

by Conrad EUts Egypt, the most populous

Arab country of the Middle East has a potential market of 40 million consumers. Of all the Arab countries, Egypt has the most advanced in­ frastructure, industry, agriculture, education, and defense posture. Its cultural predominance among Arab countries, combined with the regional and international political status it has developed, make it one of tbe principal agents either of change or of maintaining tbe status QUO in the Middle East Sadat's recent peace initiative and historic visit to Jerusalem noticeably exemplified this status.

Since 1972, the country has undergone significant political and economic developments. It's policy of rapprochement with the West has intensified since 1973 due to the US.' even-handed, balanced stance and its active mediation role in the M.E. crisis, through successive administrations. As relations with the West have improved. Egypt's relationship with the Soviet Union has steadily de­ teriorated, initiating with the 1972 expulsion of military technicians and advisors to the Egyptian 1977 unilateral abrogration of the ARE-USSR friendship treaty and sub­ sequent conspiracy ac­ cusations.

Simultaneously, Egypt has launched a program of economic liberalization and gradual demoralization, aimed at expanding the role of the private sector and en­ couraging western capital direct investment. It has aligned itself with the con­ servative oil-producing Arab nations, particularly Saudi Arabia, which has emerged as Egypt's principal financial backer and a source of funds for developmental schemes. The Egypt-Saudi Arabia- Sudan tripartite axis forms the backbone of the moderate Arab coalition today.

The subtle De-Nasserization programs of the 70% initiated with tbe corrective Revolution of May, 1971 negated tbe importance of the Soviet- influenced 'centers of power', and coupled with Sadat's public political dialogue un­ derscored a strong revisionist approach to the Nasser era and it's massive nationalization, ex­ propriation, and curtailment of free speech aspects. Nasserist planks of positive neutralism, Arab socialism, centrally planned economy, and agrarian reform were maintained by Sadat but

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through a much more pragmatic approach, vilified by many intellectual dissidents as reactionery.

From Sadat's standpoint, the October 73 war and the crossing of the Canal were unqualified successes. The myth of Israeli military in­ vincibility was shattered and the superpower's previous freezing of the diplomatic and negotiations fronts ("no war, no peace") was abruptly ended. Under the Sinai Agreement of 1975, Egypt regained it's oil fields and, of greater long-range im­ portance, the Suez Canal. The economic prospects were brighter with considerable moderate Arab grants and extensive AID loans, and Sadat's prior tenuous hold on the Egyptian system was consolidated, a position only slightly diminished since then.

Photo by t»sJ(» Johnson

Conrad EllttThe liberalization process

was somewhat baited by tbe January, 1977 note due to the IMF's insistence on a tem­ porary removal of subsidies on basic commodities. Politically, the emergence of a multi-party system from Arab Socialist Union platforms to tbe actual legalization of left, center, and right parties was stymied recently with tbe public referendum which curtailed the activities of the more vocal reformer critics of the present regime; included in this were the (rightest pre- revolutionary dominant element) Wafd, Muslim Brotherhood (radical fun­ damentalist Islamic refor­ mers) and the vociferous left (composed of many frustrated young urbanites).

Such abrupt changes of course will not help Egypt in it's soliciting diplomatic in­ tervention on toe &LE. crisis front, foreign private in-

vestment. . foiat venture schemes, inter-goverment aid, and international financial institution loans, likewise, the discrediting of these important political segments will only push them underground, and thus create an additional source of tension.

There exists a genuine desire and expectation for a settlement with Israel among the Egyptian populace, the present Israeli governments intransigence not­ withstanding. Fulfillment of such "a an absolute priority for the Egyptian economy's take-off potential and con­ tinuing political and ad­ ministrative reform.

Egypt's insistence on a comprehensive settlement involving all of the belligerent parties may not preclude a partial settlement involving some degree of Israeli recognition of the legitimate rights and national aspirations of the Palestinians, if the Arab rejectionist front maintains it's radical, non-negotiating posture.

Still, the Israeli stance regarding the settlements issue and the future of the. Gaza strip and the west bank pose particularly dicey problems. It should be noted that as in the 'S7-T3 period, time is not necessarily on the side of peace.

Conrad Eiits is a graduate of the University of Cairo aad has lived most of his life in tbe Middle East.

CORRECTIONIn last week's edition,

Professor Richter's article, "Why Gold?" was misprinted. In the second paragraph, the article should have read: "The only way known to man to establish and maintain an honest and sound national currency is to make it con­ vertible into gold.

The fate of a national currency must NOT be en­ trusted to its government as that government will in­ variably use its power, to manipulate the money cir­ culation to pay for or monetarize the ever in­ creasing national deficits."

Sincere apologies are of­ fered Professor Richter for tfiig mistake.

The Editor

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Page 4: dci/'H - ASU Digital Repository · Vol. 7 No. 28 S«pt»mfa«r 8, 1978 The View from the Top Current Business Trends The Plunging Dollar by Matthew PoweH The news that the US trade

4 — DAS TOR — S«pt»mb«r 8, 1978

Ubi SuntIt is natural for all of us at Thunderbird to speculate on our

future job possibilities if we will be sent overseas as we hope, or if we'll get that special job with that special com­ pany that we have wanted for years and years.

It is natural, and so it is always nice to hear of the past grads who have moved up into the big time, if only for the reafftrmation of our own dreams.

Here are some notes on a few recent grades, courtesy of Mr. Michael E. Blitnes, director of alumni relations:

E. Lawrence Kerin Mr. Kerin, who graduated in December, 1970, was promoted to vice-president of In­ ternational Operations for Binney and Smith, Inc. in April. He is responsible for all facets of Binney and Smith's global operations which include Binney and Smith (Europe). Canada Crayon Co. and a joint operation in Mexico. Binney and Smith manufactures Crayola Crayons, fine art materials, early childhood games and crafts.

Jerald L. Dyson After graduating in December, 1972, Mr. Dyson went to work for the advertising agency, N.W. Ayer. Then, in 1S75, he became an assistant account executive for the ad agency. Bent on and Bowles, Inc. Six months later he became an account executive, and this June was named a vice-president of the company.

Walter T. Atkinson Mr. Atkinson has good reason to be flying high. He went to work for Cessna Aircraft Company after graduating in August, 1976. Mr. Atkinson, holder of an airline transport license and with more than WOO flight hours under his belt, was responsible for having successfully launched Cessna into the propjet market. He has since been named the manager of the company's Great Plains Multi- Engine wholesale zone.

David A. Seavey Mr. Seavey became general manager for Pizza Hut Inc. in Japan after graduating in May, 1977. In this last year he has been promoted to vice-president for Japan. When interviewed by Business Week about the growth of fast-food chains in Japan, Mr. Seavey was quoted as saying, "The pizza market here is about where it was 20 years ago m the L' ,Jj. The only difference I can see is that the Japanese like a crisper crust and the cheese goes on first."

More Dr. VorisContinued from Page 1

mittee has granted the school accreditation until 1983. However, one criticism of the school was that the professors were not doing enough research. How have you en­ couraged the faculty to do research?

Voris: For one thing, I fought that provision that the committee made. I was very disappointed in that one point. They cazne from research* oriented universities like the University of Michigan. They ham a stereotype of what a graduate school is. That means one that stresses pdblish or perish and the students be damned, that the profs ought to be writing articles and books and not spending time in the

-They could not come to grips

with the fact that our ob­ jectives are different than a graduate school of the University of Michigan. Our professors are involved in pragmatic research, not in

ethereal research....The research I want the faculty to keep up on is the research to keep up to date. Most of them I think do that. Not all, but most.

DAS TOR: Would you give the professors a lower course load in order to do research?

Voris: Sure If a guy has a great project and gets a grant from the Ford Foun­ dation or the Feds, then we'll adjust ins schedule. Dean Geer is going to push the faculty to get more involved in their professions, for example get them to attend their professional meetings, etc. This was one of the things Oat the accreditation team was suspicious of, that some of the professors were not keeping up to date, that some were sort of semi-retired. Sat if they're there, you students are the first to see that they aren't keeping up to date.

For the most part, however, I think the faculty does a very good job.

The PUB Announces:Monday night football is coming. Come on over to the Pub

and enjoy the game with a friend Try to outguess the Pub manager and win some free beer.

Also did you know that the Pub now has apple juice, orange juice and grapefruit juke in store? We also have two new imports-Swan Logu from Australia and Henninger from Germany^We also have a complete stock of not sandwiches for the late night munchies. So come on over and en joy.

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French ClubThe T-bird French Glob is

once again gearing up forof activities.

Francophones from every corner of the world .come together every other Tuesday evening to converse and share some of their experiences.

This semester we have planned a presentation on wine making with a Wine and Cheese Tasting Party to follow, an evening of French films and a French night at the Pub. Any other suggestions will be welcome.

Questions' Contact Karen Madura, the club president, at ext. 7599.

Rugby

An Affair in the Airby'Lane Lindquist

And now for another episode of the continuing story of "An Affair in the Air" ...

But first, a short recap of the first episode for all of you new and returning students.

On Saturday and Sunday, November 18 and 19, we will be joined by more than 20.000 people and over 50 balloons from all over the country for the 4th Annual T-bird Balloon Race. The Balloon Race will take place on the T-bird field and will be co-sponsored by the Friends of Thunderbird End the Glendale Chamber of Commerce.

The T-bird Balloon Race was first organized in 1974 as part of the celebration of the 30th Anniversary of the existence of Thunderbird Field. Hie Balloon Race was organized as a means of raising funds for the student loan and scholarship funds. Admission is free. The funds are raised from the $250 sponsorship fee required for each balloon entry.

The Balloon Race will mean a weekend filled with fun and excitement. For some students, it will mean being out on the field by 7 a.m. as part of the balloon chase crew: The out-of-state balloons win need students to help fin in their chase crews. So all you balloon enthusiasts or soon-to-be balloon en­ thusiasts keep the weekends of November 4th, llth and 18th open. The weekends of November 4th and llth wffl be for the chase crew training sessions, depending on the flying weather.

For those students who want to be involved, but not as a

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member of a chase crew, there will be plenty of activity that weekend. There will be two main balloon events both Saturday and Sunday morning from about 7-10 a.m. In bet­ ween the balloon events, you will find plenty of activity, as most of the T-bird Clubs will be sponsoring various booths. In the past, the clubs have participated by selling foods from around the world and by having various games of skill and chance.

Now that you all know what is in store for you come November, you can keep that time open. It promises to be a fun and exciting weekend.

Tune in again for the next episode in the continuing story of "An Affair in the Air".

The Kachina Rugby Club is now recruiting players for the Fall session. Our practices are Tuesday and Thursday at 4:30 p.m. with games on Saturdays starting September 23. Our match schedule is posted all around campus. We have trips to Tucson and Las Vegas including our Michelob Arizona Rugby Classic in Tucson on November 11 and 12. We also have a number of home games throughout the year AGSIM fans we need you.

ASLC ElectionsElections for ASLC

Representatives will be on September 8th from 8:00 a.m. to 4:00 p.m.

You must vote only for people running in your con­ stituency. There are 18 positions; 9 off-campus and 9 on-campus.

**************************************************

Thunder RiddleThe winner of last week's riddle is Tom Brerman, who wins

two pitchers of beerat the PUB. The riddle was: The race is run, but there's plenty to be done. Although the world looks kind of blue, it reaUy isn't true when they say that it's lonely at the top. The answer was Steve Orr's office in ASLC.

This week, we have a new riddle writer, Diane Totheriy, who has assumed this delicate position. Her first riddle is:

Where inside meets outside at this placethe keys to this due fit a space,and hammers in accord like art,are used by those who play the

*****************

Athletic ReminderSlimnastics classes wiB be

held every Monday and Wednesday at 4:30 p.m. in the Sobo Lounge. Everyone is welcome.

English PlacementThe retake of the English

Placement examination wiD be administered on Wed­ nesday, September 6 at 2:00 p.m. in room C-21.

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