Discover Family, Famous People & Events, Throughout History!

Throughout History

Advanced Search

Publication: European Stars and Stripes Sunday, April 5, 1987

You are currently viewing page 6 of: European Stars and Stripes Sunday, April 5, 1987

   European Stars And Stripes (Newspaper) - April 5, 1987, Darmstadt, Hesse                                Page 6 the stars and stripes sunday april 5.1987 us. Gets $1.58 billion from Conrail Stock Sale Washington ojp1 president Reagan raked in the first big payoff Friday from his Campaign to sell off government assets a si.58 billion Check for  Treasury from the Sale of the Conrail freight rail  Check representing the proceeds from the re cent Sale of Conrail Stock on Wall Streel was presented 10 Reagan by transportation Secretary Elza Bolh Dole at a White House ceremony but the take from the Slock offering believed to be the largest in Wall Street history fell Short of the 1.7 billion goal set by Congress last year in legislation authorizing the Sale of inc Northeast and Midwest freight line after 10 years of overment stewardship. Still with the addition of $300 million in excess Cash Conrail already Jim returned to the government the Sale generated a hefty total of si.88 billion to help reduce the Federal deficit. Dole presented Reagan with a Lagic  for ,s75,q87,Soo, drawn on the account of Goldman Sachs & co., the Wall Street investment firm that coordinated the Stock offering. Conrail is the flagship of privatization and the firs of what we Hope will be Many government functions returned to their rightful place in the private sector Reagan said. I think this Conrail Sale is further evidence that this administration is doing its bit to reduce the Defi Cit he said. Coming one Day after he Tost his Battle with  Over a busier Ove Highway Bill Reagan considered a budget. He ceremony provided he president Wito timely Opportunity to re emphasize his resolve to re Duce the deficit. He pledged to continue vetoing Bills he believes Tobe excessive and As he left the room he stage whispered what else have we got to Sclier the Conrail Sale represents Reagan s Only major Victory to Date in his privatization Campaign which Calls Tor the Sale of certain Federal assets the administration believes Are inappropriate for government involvement. Other administration privatization proposals such As the Sale of the Bonnet Lluc Power administration have foundered in the face of vehement opposition in Congress. Conrail was cobbled together by Congress in april1976, out of the decrepit remains of the bankrupt Penn Central and several smaller rail lines in an Effort to maintain freight Railroad service in the Northeast and Midwest. Conrail was a huge Money loser in its Early years surviving Only through $7 billion in Federal subsidies. But by taking advantage of rail deregulation an through adept Cost cutting Conrail turned profitable in 1981 and earned As much As $500 million in 1984,making a Sale Back to the private sector feasible. Boston shelter founder angered by store s sole of bog lady doll Boston a a bag lady dolt on sate for unto $400 Al a fancy toy shop in Copley place has an gered the founder of Rosie i place a shelter for Home less women enough to return the store s $100 Dona Tion. I note that there Are no Ivan Boesky dolls or Charlie Manson dolls Kip to Conan who founded Rosie s place 13 years ago said in a letter to the owner of the shop. We re careful who we ridicule and make Money off of.1 Tiernan said her letter was included with the $100donation she returned to Albert Gardelis owner of Noah s in the downtown shopping Moll hotel comple thai also houses Gucci and Neiman Marcus. Gardetto was not Al the store Friday and did no return requests for an interview. Bui in earlier inter views he said we re not demeaning the homeless we re Selling an Objet d Art. It s in my stare and it s going to slay in my  he also said that the dolls which clutch two Over stuffed shopping bags really just represent a slice of americana and that they usually arc purchased by adults who Are serious collectors. He said he thought his Goodwill gesture of a$100 gift last week had been misunderstood. Bui when it was returned thursday he rescinded an offer to give Rosie s place a portion of the profit from the dolls. The arrangement was made by the Union for the homeless Independent of Rosie s place said tier Nan. I think she s doing More to Hurt the homeless than help them he said. Now they re going to get Noth  the bag lady doll is not cute " said Tiernan tomake a profit on a fragile population i Don t look on it As an Objet d art1 As he put it. He s got the worst possible Laste in  sue Costa coordinator of advocacy at Rosie s place said none of the women there wanted to talk with a reporter. Bui she said there was Lalk of the dolls Al the shelter and outrage among the women. The dolls Cost $50 to $400, depending on their size and can be made to order by its los Angeles manufacturer Sher stuff according to Noah s manager Lori Van dam. Most people Are buying for themselves As a piece of Art said Van dam who said the store has sold about a dozen of the dolls. Everybody Hittl come sin Here loves the doll. Everyone thinks it s adorable. We All think the doll is adorable or to would t reselling  the 30-Inch Model costing $110, was on display Friday. She wore a floppy Bonnet decorated with Lemons mismatched clothing Lime Green socks and Brown running shoes. One of the two bags she carried contained a single running shoe and a crumpled newspaper Oral Roberts sued Over funds plea new Orleans a to evangelist Oral Rob erts has been hit with a lawsuit accusing him of raising $8.7 million by portraying god As a blackmailer. The Suil filed in . District court on Friday by aerospace engineers Douglas cog Mcshal and Russell Richardson ogre Ina seeks to farce Roberts to return donations to anyone who wants his Money Back. In january the evangelist announced that god had told him to raise $8 million for medical missionary scholarships by March 31 or god would Call  on wednesday the evangelist said he had received about $8.7 million. Roberts and his Oral Roberts ministries inc. Essentially alleged that he was under blackmail. With the proviso thai if Rev. Roberts failed in this Endeavor the blackmailer would take his life the suit says. The suit alleges that the rep Lazion of All who try to spread the Christian Faith has been damaged by the fund drive and in asks that Roberts be made to abide by the same standards of disclosure and conduct that other corporations must adhere to immediate pre Lection is demanded and justified an the widespread pattern of fraud and abuse involving millions of dollars and wilfully perpetrated upon a naive and trusting Public they  to reach Roberts through his Tulsa okla., ministry were unsuccessful. Telephone Calls to his spokeswoman Jan Damptz a Cal unanswered ale Fri  suit asks that Roberts be ordered to Pul $8 million in a fund and notify donors that they can have their Money Back donate Illo another Chanty or have it go 10  also seeks disclosure of All financial Legal and political activities of his ministry annual audits by certified Public accountant and affidavits substantiating All claims of Faith Healing. Stateside court upholds conviction of conscientious objector Cincinnati months. I training session goes ape Over videotape mix up West Frankfort 111 up the weekly training session of the Franklin county emergency services and disaster Agency ended in some big Monkey business. Director Warren Brown said he ordered a videotape from a Pennsylvania firm on emergency first Aid to be shown at the training  tape can was correctly labelled and Esda members expected to see How to handle Emer gency childbirth pulmonary resuscitation and related  Brown says thai when the lights were dimmed and the tape was rolled Esda Man Ben were flabbergasted. On the screen flashed a film on How to capture gorillas in  the initial Surprise Esda members Sal Back and made the Best of it said Brov we watched in anyway i think they captured five gorillas with a  police dog handler bows to linguistic pressure Brenham Texas a if it s True Youcan t teach an old dog new tricks it makes sense that you can t teach a 29-month-old German Shepherd to understand English. So at least one member of he police depart ment is learning German. The dog futz von Mien Choit joined the newly formed police k-9 unit this week. He was raised and trained in Germany and understands Only German. Fritz s canine handler will be required to Tea the German commands to make him perform. Explosion in Salvage Yard leaves 1 dead 1 injured Spanish Fork Utah a an explosion Al a Metal Salvage Yard Friday blew scrap Metal so feel into the air killing one Man and seriously injuring another authorities said. Police chief Dee Rosinbaum identified the dead Man As ocl Sno Villegos. 35, of Spanish Fork. Richard d. Buchannan. 30, also of Spanish Fork was taken to Utah Valley regional medical Center in Provo where he was in sinous condition with knee and leg injuries Rosinbaum said. The 11 . Explosion Al Swanson Metal Sal Vage May have been connected to a Metal culling operation. Rosin bum said he did not know whether acetylene torches were being used  
Browse Articles by Decade:
  • Decade