European Stars And Stripes (Newspaper) - October 8, 1988, Darmstadt, Hesse                                Page 4 the stars and stripes saturday october 8.1988 business leaders expect slowdown soft Landing predicted for nation s Economy hot Springs a. Up the nation s business Leaden Friday predicted the present prolonged eco nomic expansion will begin 1o taller next year. Bui they hedged thai Tret by noting in could be their fourth incorrect prediction. The business Council a private association of top business people looks for an easing of the Overall economic performance nest year according to its semiannual economic report released Al the Home Stead a posh resort in Southwest Virginia s Allegheny mountains. I would Point out to you that have said that three limes now and in each Case we have put off for another year the expected slowdown said John Reed chairman and chief executive officer of Citicorp who has been in charge of forecasts for two years. The group also elected Roger Smith chairman  corp., As its chairman for inc next two years replacing Stephen by Chect jr., chairman of the Hechtel group inc. We Are living in a continued Stroni Economy Reed said raising the group s estimate of Overall eco nomic growth in Calendar 1988 from 3 percent to 4 percent. But the report predicted growth in the nation s local output of goods and services would slide Down to 2.5 percent for the rest of the decade and then taper off to 2 percent in the Early 1990s. None of the 20 or so corporate financial officers surveyed anticipates a recession in the next nine months bul beyond that the consensus broke Down. Several warned a recession would close the decade after hectic growth Over the next few quarters Sparks leaping prices wages and interest rates. Others were More optimistic saying the Economy could achieve a soft Landing after inc longest peace time expansion in the nation s history. Reed said. The Citicorp chairman also said inc economists Felt the Federal budget end Trade deficits would not improve As much Over the next few years As the administration and Congress expect. The Survey predicted the merchandise Trade deficit would fait from s170 billion in 1987 to si34 billion this year and dip below 1100 billion in 1990. The executives however expressed concern thai the strengthening of the Dollar could threaten to end the recent improvement in the Trade deficit. The Survey found some ominous signs that inflation will creep up by about one percentage Point a year. It predicted consumer prices would Rise by 4.2 percent in 1988 and 5.1 percent in 1989. Most of those surveyed agreed that wage inflation had not surfaced with Only relatively modest raises for workers despite Strong and sustained advances in Industrial production and Low unemployment. Interest rates were expected to move higher Over the next year or so before dipping in the Early 1990s As the whole Economy begins to lose its Forward momentum the forecast said. The Survey also said economic growth in the other major industrialized countries has been substantially stronger in 1988 than originally expected. This along with the weaker Dollar has contributed to the brisk Pace of . Exports which Are driving the Economy and reducing the huge merchandise Trade deficit. The Survey predicted real Gross National product in Japan one of inc United Stales largest trading part ners would Rise by 5 percent in 1988 about on percentage Point higher than last year and also about a percentage Point above the rate anticipated in the Council s Spring forecast. The Survey said economic activity in Japan would Slacken gradually Over the next two Yean but remain above 3 percent through 1990, outpacing . Eco nomic growth. Barricaded nuns Sisler Elia at Speaks in reporters thurs Day on Tahiti of of Livi nun of the roman Calfa Olic order of the Dis Rand Carme Lites win had barricaded themselves in the monastery of the most blessed Vir Gin man1 of Mtcarmel in Morris township no. The nuns fear eviction after protesting prior lib evaluation. Fewer foreign weapons earmarked for . Tests Washington up the Penta gon Friday reduced the number of for eign weapons to be tested for possible . Use at a time when military officials Are trying to persuade allies to increase their share of the common defense Bur Den. A Pentagon statement said 11 foreign weapons tests would be started during the next year compared to the 28 tests initiated during the past year. While the number of new starts is much smaller. This indicates that the military services we doing a better Jobin reviewing candidates nominating Only those that address priority require ments and have realistic potential for procurement the statement said. The announcement comes As Deputy defense Secretary William Taft i prodded by increasing congressional pressure is in Europe trying to Persu Denato allies to contribute More to the common defense of the Alliance. Tall defense Secretary Frank Carlucci and Congress have also emphasize the need for a More efficient defense through the use of common weapons by the in i cd states and its All ies. The Pentagon statement said several other foreign weapons Are being looked at for testing in the next year. Texas jury awards about $7 million Over subdivision s poor plumbing Houston a nearly 100 homeowners with Leaky pipes have been awarded about $7 million in damages from the four companies that made and installed the plumbing. Thursday s Deci Sion produced a 4,465-Paje verdict. The stale jury sided with 94 la Porte homeowners who had sued general Homes corp., which built the houses Shell Oil co. Us. Brass corp. And Hooch so celanese corp., which produced and marketed the plumbing materials. Ending a trial that began in june the jury found that the four companies were negligent and misrepresented the Quality of inc plumbing. The plumbing apparently failed in Many of the Fairmount Park subdivision houses after about four years because of Contact with chemicals primarily chlo Rine found in water said James r. Moriarty an attorney for the homeowners. Moriarty said the jury awarded each Homeowner about $40,000 to $70,000 in damages interest and fees bul the final amount depends on whether judge Alice Oliver to Calhan affirms the panel s fading of deceptive Trade practices. Teen Ager earns an a from cancer researchers new York a at an age when most youths Are worried about braces and pimples 14-year-old Ray Bateman or. Had a different problem Friday present ing his research on a cancer cure to the american federation for clinical research. He need t have worried. The re minion Beach. Calif., computer Whiz received two rounds of applause from two dozen re searchers at least three limes his age after his slide show and speech. This started As a school project bul obviously got much bigger Bateman said after the presentation flashing a smile that showed his braces. Baleman was accompanied to the convention by his Parnu and his next door neighbor and research part Ner cancer expert or. Glenn Tisman. The iwo worked on a plan to Combine a chemical 5  a fur for Short with a Vita min derivative in an Effort 10 kill cancer cells the teen Ager said. Both said the plan needed additional testing Al though initial indicators showed it had potential in fighting Colon cancer. Flat Man delivered the research because the rules state Hal if two authors submit a paper and one is older than 41, the younger one makes the presentation Tisman is 46 he recruited Bateman to assist in com Puter analyses. What Ray has done Here is make the whole thing possible Tisman said of his partner who fidgeted beside him As they fielded questions about their work. Bateman s audience listened inic Nily As he detailed tests on nine cancer patients and lectured on Intra eel Lular transport of fluorine cd Prim indies. Near the end when showing a rays of a patient who responded Well to the treatments Baleman lapsed once into inc lexicon of the High school freshman that he is As you can see the tumor is virtually almost gone. I think it was very exciting or. Mark Moskowitz of Nowlon mass., said after the presentation. We need More Young investigators. He could be the first of a new generation of medical  after the presentation several audience members came up to shake the Young Man s hand Baleman who spent an estimated 1,300 hours on the project and whose parents have gone through $25,000 keeping him in computers said he hoped to continue work on the Core and Start a. Career in medi Cine. I would like to be involved in something both re search and clinical Baleman said. I Donl think in would be All that much fun to do research and not Sec it