D
The Daily Tar HeelThursday, September 21, 19897
Stocks
n
2679-52
DOWN 3.42
Volume: 1036 million shares
COMPANY
BellSouth
Duke Power
Food Lion
Ligget & Meyer
NCNB Corp.
CLOSE
54 38
51 58
12 12
11 12
51 38
CHANGE
- 14
14
58
HIGH
54 374
51 34
12 12
11 12
51 12
LOW
54 38
51 12
12 12
11 18
51 14
WK. AGO
52
50 58
. 12 58
11 12
49 38
2725 ' '
2700 I j
2675 pi HI ZT,1
2650 i j i : i fj I h
2625 Ll i o ! nfizt CM-:
2600 pi E'l 1 f"i J i l
2575 ' r Lj j( tZI l IT1 '
2550 I ;M rj Q 1? Q' jZt U J
2525 ra f Q-Li'i 1 : L: HJ'J
2500 ' i ; t I I j I' ! ' 1 I
82 89
712 719 726
DTH Graphic
816 823 830 96 913
Source: Edward D. Jones & Co., Chapel Hill
UNCC. economic report ay
state's growth slower, out 1 989
By CRAIG ALLEN
Staff Writer
It's time for the N.C. economy to
come down to earth.
After several years of economic
growth at rates above the national aver
age, the state's growth rate fell more
than 2 percent this year.
An economic report, released last
week by the University of North Caro
lina at Charlotte, showed a drop in the
growth rate from 4.8 percent in 1988 to
a projected 2. 1 percent this year, bring
ing the state back within the national
average. The nation's gross national
product grew 4.4 percent last year and
is growing at a rate of about 3 percent
this year.
A major cause for the slowdown is
the lack of skilled workers in North
Carolina, said John Connaughton, a
UNCC economist. This shortage is
largely caused by a low unemployment
rate, usually considered good economic
news.
"What we have in the state right now
is a full-employment environment,"
Connaughton said. 'That lack of work
ers doesn't allow businesses to expand."
Connaughton said the skilled-worker
shortage will affect the state's larger
cities, especially Raleigh and Charlotte.
Both cities have unemployment rates
below the 3.7 percent state average.
Charlotte's rate is about 3 percent and
Raleigh's rate is "pushing 2 percent,"
Connaughton said.
Two other factors the strengthen
ing of the dollar overseas and rising
interest rates have also contributed
to the slowdown. Rising interest rates,
which always affect North Carolina's
largest industries like furniture and
construction, will especially affect the
construction industry this year, he said.
According to the UNCC report,
construction will be the state's only
major industry to suffer a loss this year.
The foreign demand for N.C. prod
ucts will be lower because a strong
dollar overseas makes American ex
ports more expensive, Connaughton
said. North Carolina exports more than
it imports.
Although the decline in the state's
economy is alarming, it does not spell
doom for North Carolina, Connaughton
said.
He said he does not foresee a reces
sion for the state's economy. The slow
down only represents a return to a
growth rate closer to the national aver
age, which economists estimate will be
about 3 percent for this year and 2
percent in 1990.
"We're still going to grow," Con
naughton said. "We're just going to
slow down.
"It's a mixed blessing. It's kind of
hard to feel sorry for us in this kind of
situation, when the state can't grow
because everybody has jobs."
Cell says business minor
could begin Fall 1 990
Carolina Students7
Credit Union Rates
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180-269 Days
270-364 Days
365 Days
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$100 minimum deposit. Insured up to $100,000.
Rates for longer terms and larger principals are available.
Share Secured 11.00
Co-Signer 14.00
Travel 16.00
Hours: Mon.-Fri. 10 a.m.-3 p.m Sat. 12:30 p.m.-2 p.m. Phone: 962-CSCU
CSCU is not affiliated with UNC-CH
DTH Graphic
By BECKY RIDDICK
Staff Writer
and TOM PARKS
Business Editor
If the proposal for a business minor
is approved by faculty in the College of
Arts and Sciences, the University may
see its first minor go into effect as early
as next fall.
Gillian Cell, dean of the College of
Arts and Sciences, said the proposal
could be approved in time for studnts to
preregister for the program next spring
and begin work in the fall 1990 semes
ter. The proposal is now being redrawn
by the Undergraduate Program Com
mittee of the School of Business
Administration.
After the University's faculty coun
cil discussed the proposal last spring
and raised concerns about the minor's
prerequisites, the proposal was sent back
to the business school for modification
and resubmission.
Cell said she expected the proposal
to be resubmitted this fall. Last spring
the proposal to establish a business
administration minor was approved by
the business administration faculty.
The proposal was originally submit
ted by the Undergraduate Program
Committee, which is responsible for
policy decisions at the School of Busi
ness Administration. The committee is
composed of 10 faculty members and
chaired by Robert Headen, a business
school professor.
Cell said the College of Arts and
Sciences sent the proposal back be
cause of concerns over the proposed
requirements for the minor. The faculty
council felt the 3.4 grade-point average
requirement was too high and that the
minor program's course load was too
heavy.
"The combination of a five-course
minor with a lot of prerequisites would
take up a lot of a student's program,"
she said.
If the program is approved this year
and put into effect on schedule, stu
dents in the College of Arts and Sci
ences, who comprise more than half of
the University's undergraduates, will
be eligible to apply for a space in the
program this spring and begin work in
the minor next fall, Cell said.
Headen said the minor would con
sist of 1 5 hours of core business courses.
This would give liberal arts majors a
good grounding in business, he said.
"We do not have the facilities to
serve as many undergraduates ' who
would like a business degree. With the
minor, we can serve a lot more people
with the resources we have," Headen
said.
Copy stores expand from demamic
By DAVID LLOYD
Staff Writer
Increased demand for copying serv
ices has spurred the growth of two
downtown Chapel Hill copy stores.
Copytron, now at 105 N. Columbia
St., will move Sept. 27 into a larger
space next door, and Kinko's Copies, at
1 1 4 W. Franklin St., expanded its store's
space this summer.
Copytron will move to 100 W. Fran
klin St., the location vacated last year
by Logo's Bookstore. The move will
give Copytron an additional 500 square
feet.
Kinko's completed their move into
the former sites of Haagen-Dazs and
The Cookie Jar Aug. 24, according to
manager Narinder Dahiya.
Both store renovations included the
addition of a desktop publishing sys
tem, and as John Kessler, manager of
Copytron, said, "There's just no room
(in Copytron' s present location) to do
it."
Kessler said there should still be
enough business for both stores.
"There is no way one store can suc
ceed in satisfying the local demand.
Ultimately, better service will arise with
Co-produceir's program helps
PlayMakers construct plays
I
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American Airlines helped finance "The Cherry Orchard"
By TIM TRUZY
Staff Writer
With the help of American Airlines,
PlayMakers Repertory Company's
season-opening production, "The
Cherry Orchard," took off last Friday.
American Airlines is financially co
producing PlayMakers' presentation of
Anton Chekhov's classic play.
Justin Grimes, PRC development
director, said the co-producer's pro
gram has been in operation since 1985
and has drawn contributions from
companies in the Triangle that feel they
have an interest in the area's fine arts.
"The corporations that contribute to
PlayMaker's Repertory Company have
a large presence in the region we serve
in North Carolina," he said. These
corporations recognize the benefit of a
professional theatre company to their
employees' quality of life, Grimes said.
Peter Birkett, a district sales repre
senative for American at Raleigh-Durham
International Airport, agreed,
saying the company hoped to enrich the
cultural life of the Triangle.
Regina Licktieg, PlayMakers' pro
duction stage manager, said American
made an in-kind contribution of airline
tickets to PRC. Grimes said it would be
hard to judge the exact value of the
tickets, but they were "invaluable" to
the theatre. The tickets make it easier
for PRC to work with out-of-town art
ists. PlayMakers relies on contributions
for 40 of its budget.
At least three other plays will be co
produced this year. The Village Com
panies will sponsor "True West",
Wachovia Personal Trust Group will
sponsor "The Nutcracker" and "Old
Times" will be co-produced by McK
neely Communications Inc., a Durham
company.
the competing businesses," he said.
Dahiya said there is room enough for
both stores in town, considering the
amount of business generated by stu
dents and faculty at the University.
Copytron will still hold the lease on
its present site and will probably sublet
the property, Kessler said.
Kinko's added an expanded course
pack counter, and its desktop system
should be in operation by Nov. 1 , Dahiya
said. It will include a laser printer with
a Macintosh format.
Copytron's desktop system is acces
sible on a limited basis. Customers can
now bring a Macintosh-formatted disk
ette of the text to Copytron and receive
laser printouts.
"Hopefully in three to four months,
we'll have a self-service laser printer,"
said Kessler.
UpdateC
Consumer
Price
Index
1989
3.4
PERCENT CHANGE FROM PRIOR MONTH
0.6
03
0.4
0.3
0.2
0.1
HUE
-0.1
-0.2
1988 S O N D 1989
F M A M J
DTH GraphicSource: Bureau of Labor Statistics
Inflation
percent
By KEVIN GREENE
Staff Writer
Inflation, which worried investors
earlier this year, rose only 0.2 percent
in August, according to government
figures released Tuesday.
The inflation rate, which is the
percent increase of the Consumer
Price Index (CPI), or the total amount
of consumer spending, rose by an
average of more than 0.5 percent per
month in the first three months of
1989.
After May, the inflation rate's
increase was less pronounced. The
CPI increased by only 0.2 percent in
June and July after increasing 0.6
percent in May.
The national inflation rate for the
first eight months of 1989 was 3.4
percent, according to the Bureau of
Labor Statistics. The inflation rate
rises 0.2
n August
for the same eight months last year
was 3.1 percent.
From August 1988 to August of
this year, the CPI rose 4.7 percent.
Substantial increases in medical care
costs led the CPI with a 7.7 percent
increase for the same period.
The nation's unemployment rate
for August held steady at 5.2 percent.
The state's unemployment rate rose
0.3 percent in August to 3.7 percent,
still the lowest among the nation's 1 1
largest states.
The economy has been growing
continuously for seven years since
the 1981-82 recession, the longest
single period of expansion since
World War II. During that recession,
unemployment reached a postwar
high and inflation passed the 10 per
cent mark.
Career Corner
Resume Drop Sept. 26
Open Sign Up Oct. 1 1
Date Company Job Major
1016 Aetna Life and Casualty Insurance BUBS, CRJUBA, ECONBA, INDRBA,
RECRBA
1016 American Home Fooods Sales BUBS
1016 Exide Accounting BUBS
Analysis , APCSBS
Finance COMPBS
Mgt. Info. Sys. MATHBABS
1016 Kentucky Fried Chicken Rest. Man. BUBS
1016 Xerox Corp. Sales BUBS, LIBABA
1017 American Mgmt. Systems Info. Mgt., etc. APCSBS, APMABS, COMPBSMS
ORSABSMS
1017 Central Carolina Bank Banking ANYBABS
1017 Equitable Bank Banking BUBS, LIBABA
1017 Ferguson Enterprises Gen. Mgt. BUBS, LIBABS
1017 Glaxo Inc. Chemistry CHEMBABSMSPHD
Quality Control
1017 Maddux Supply ANYBABS
1018 General Electric Co. Finance BUBS, LIBABA, ECONBA, SPCHBA
Sales, Mgt. MATH.BS
1018-19 Rohm&HaasCo. Chemistry CHEMPHD
1019-20 Hercules Inc. Chemistry CHEMPHD
1019 Jacobs SuchardBrach's Sales BUBS, ECONBA, INDRBA.POLIBA
SPCHBA, ENGLBA
1019 Personal Products Sales ANYBABS
1019 Sun Banks Banking BUBS
1019 U.S. Navy Officer ANYBABS
1019 Velux America Inc. Sales ANYBABS
1 o1 9 Wallace Computer Services Mktg., Sales BUBS, ECONBA, INDRBA, SPCHBA
1020 NCNB Accounting BUBS
Banking ECONBA
Finance LIBABA
Operations
(IBRndNfttmP I
1016 Integon Life Insurance Co.
1016 MCI Telecommunications
1016 Merck, Sharp & Dohme
1017 Dataflow Companies, Inc.
1017 Ford Motor Co.
1017 School For Field Studies
.inn I . mil II. ii II III III II t.M I III l.ium in HI i.l -ii II " " ' '' "' '-' 1 iiilllUnl lyl 1 11 Will I I 11 1111 1 ' ' - - H -UJ ' " " " ' " m- " 'llr"