Saturday, July 29, 2000

New Braunfels Herald Zeitung

Location: New Braunfels, Texas

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New Braunfels Herald-Zeitung (Newspaper) - July 29, 2000, New Braunfels, Texas Saturday July 29 2000 HKRALDZEITUNG Page 3A Supercharged economy continues growth WASHINGTON AP The super charged economy did not cool off as expected in the spring but instead grew at an even faster percent rate propelled by strong business investment and gov ernment spending the government report ed Friday The Commerce Departments first look at the gross domestic product the broadest measure of economic health for the AprilJune quarter prompted President Clinton to hail the vigorous economic performance during his two terms Wall Street however worried that the strongerthanexpected growth will increase the likelihood that the Federal Reserve will raise interest rates for a sev enth time when Fed officials next meet on Aug 22 The Dow Jones industrial average lost points to close at The technologyheavy Nasdaq composite index lost extending Thursdays 145point slide and bringing the weeks loss to 431 points or percent Clinton used the new GDP figure to preach the benefits of protecting the fed eral surpluses against Republicanpassed measures to cut taxes We should stay on the path to fiscal discipline and not endanger our prosperi ty by passing one expensive tax cut after Clinton said on a fund raising trip to Rhode Island The new GDP report confounded the economic experts who had widely fore cast a slowing of growth in the second quarter based on a belief that the Feds previous rate hikes would cut into con sumer spending which accounts for two thirds of total economic activity Revised figures showed the GDP grew at an annual rate of by a pickup in business investment in computers and other equipment which climbed at an annual rate of percent Additionally businesses upped their spending on inventories in part to replen ish depleted stockpiles The big slowdown in consumer spend ing was offset by a boom in capital spend said Allen Sinai chief economist for Primark Economics in New York This was not a softlanding report We still have a booming The Fed concerned that the lowest unemployment rates in three decades would trigger inflationary wage demands started raising interest rates in June 1999 to slow activity to a more sustainable pace and keep inflation from becoming a prob lem And the new report did contain good news on inflation Despite the strong growth in the spring inflation pressures actually moderated A price measure tied to the GDP rose at an annual rate of just percent in the second quarter even better than a per cent rate of increase in the first quarter Some analysts said they believed the absence of inflationary pressures would allow the Fed to remain on the sidelines at its August meeting awaiting evidence that the combined impact of the six rate hikes so far has started to slow growth The heart of the issue is productivity which seems to be so strong that it is off setting any inflationary said Oscar Gonzalez economist at John Hancock Financial Services in Boston Analysts said the big increase in busi ness investment in computers and other productivityenhancing devices should provide assurance to the Fed that the pick up in productivity in recent years will con tinue In addition to business investment gov ernment spending took a big leap upward in the second quarter rising at an annual rate of 6 percent Federal spending was increasing at a rate of percent reflecting in part hir ing of temporary workers to conduct the Census while state and local spending showed a much smaller gain of per cent Economists efforts to predict quarterly movements in GDP were complicated this month by the governments annual revi sions of past data Those revisions left the annual GDP increase at percent in 1999 but revised upward the gains in 1998 from per cent to percent and in 1997 from percent to percent The revisions also changed the pattern of quarterly movements with the fourth quarter of 1999 now shown as growing at a remarkable annual rate of percent the best performance in nearly 16 years while the first quarter was revised down to percent from percent The strength in the second quarter occurred despite the fact that Americas trade deficit widened significantly sub tracting percentage points from growth GOP holds ground on abortion platform PHILADELPHIA AP Republicans turned aside an effort to moderate their policy against abortion Friday night after pas sionate debate on an issue that strains GOP unity more than any other The platform is meaningless if it doesnt stand for said Rep Henry Hyde of Illinois who opposed giving any ground to abortionrights Republicans Saving unborn children is a very noble The partys platform committee voted Friday night to maintain uncompromising language against abortion leaving a vocal minority on the other side searching for ways to press their case as the Republican National Convention prepares to open Monday Presidential candidate George W Bush decided months ago not to rouse the religious right by tak ing it on over abortion At one point Friday as confu sion mixed with emotion in the debate the platform committee voted to welcome people on all sides of this complex issue and encourage their active participa But because of the confusion in the way the motion was presented some who voted for that language Hyde among them thought they were voting against it Another vote was held and the motion went down Just think we were welcomed for about 10 or 15 said Ann Stone of Republicans for Choice Abortion rights advocates were exploring two main options including a minority report in the platform if they could get at least 27 members of the 107member platform committee to write one and bringing an abortion debate to the convention floor Each course is fraught with pro cedural hurdles but would be a marked advance for advocates if achieved In 1996 the views of Republicans who favor abortion rights were relegated to an appen dix that merely recited a series of failed resolutions The platform committee finish es debate on the document Saturday and will vote to adopt it before sending it to the convention to be ratified An accommodation proving impossible on abortion the party began rallying behind other aspects of a platform that holds onto conservative principles while shifting toward the center in tone and a few policy areas in keeping with Bushs compassionate con The party is set to drop its pre vious positions in favor of elimi nating the Education Department making English the official lan guage and denying social services to immigrants It favors a stronger federal role in environmental protection than before But Bushs aggressive agenda on education was put to a test in one platform subcommittee which approved language saying the role of the federal government must be progressively limited in that area Although Bush also emphasizes state and local control of educa tion his plans call for a strong fed eral presence and he would use federal dollars to reward or penal ize states according to how well their students perform on stan dardized tests The party is holding to its offi cial view against samesex mar riage and its contention that homosexuality is incompatible with military service Con servative committee members also added language opposing special legal protections for gays In opposing abortion and gay rights the platform satisfies social conservatives on the two issues most important to them said Gary Bauer former candidate for the GOP nomination and longtime activist from the religious right In both those areas the plat form is very Bauer said Before the full platform com mittee took up abortion a panel voted 103 against an attempt to strike abortion language from the document altogether and 11 3 against an amendment expressing welcome for both sides on the issue SUBSCRIBE 6259144 LUXURY MATTRESS SETS Have ministorage unit full of brand new furniture and mattress sets Still sealed in plastic from the factory Name brand sets including frame Worth Twin Full Queen King Luxury Pillow Top Super Thick Sets Full Queen King New California King InnerSpring Mattress for that Stupid Water Bed White Canopy Bed for a pretty girl Loverly French ProventialWhite Bdrm set for a young lady 6piece Oak Bdrm Set Super Thick Poster Bdrm set 7pieces worth will take New Fancy All Wood Bunk Beds Black Iron Canopy Bed Nightstand Vanity San Call Hector 21O54391OO or Toll Free 18OO39844O2 OBITUARIES Concorde questions arise MORGAN Evelyn Moyle Morgan 88 passed away Monday July 24 2000 in West Columbia Visitation will be from 10 to noon Thursday at Palms Funeral Home Graveside services will be at 2 Tuesday Aug in Cranes Mill Cemetery in Canyon Lake Texas Rev Don Somerville will officiate Evelyn Morgan was born Jan 21 1912 in Hibbing Minnisota to Ray D and Marie C Moyle She received a degree in botany from Sul Ross College in Alpine Texas and was a former Teacher She was married in 1948 in San Francisco to Lester E Morgan who preceded her in death She had been a resident of Angleton Rosharon and Canyon Lake She was a member of First Presbyterian Church and was active in church garden club civic and volunteer work She served on the board of directors of Angleton Danbury General Hospital and was a member of the Angleton Danbury General Hospital Auxiliary In addition to her husband she was preceded in death by parents and brothers Robert and Howard Moyle Survivors include her nephews Robert M Moyle of N Olmsted Ohio and Ray H Moyle Sr of Rosharon Texas niece Mona M Fenn of West Columbia Texas Palms Funeral Home in Angleton Texas PARIS AP Why did the supersonic jet catch fire Why couldnt the pilot extinguish the blaze by remote control Did mechanics who worked on the plane shortly before takeoff con tribute to the firstever Concorde crash Or was it a tireburst that triggered the blaze Serious unanswered questions faced French officials who pored over data Thursday collected from the doomed needlenosed luxury jets two black boxes to determine what caused the crash that killed 114 people and prevent it from happening again Experts were not ruling out human error by mechanics or the two pilots Potential flaws in the design or construction of the plane also were a concern Late Friday after noon the French Transport Ministry said at least one wheel exploded which could have dam aged the planes structure trig gered a fire and caused one of the engines to fail Landa Paint Decorating Inc a i f i I tt Home of Pittsburgh Paints Color Matching Expert Advice Knowledgeable Salespeople WE CARRY THE COMPLETE LINE OF PAINTS YOU WORK TOO HARD TO PAINT WITH ANYTHING 332 Landa Street 8306095554 Visa Mastercard Cash I HERALDZEITUNG Published on Sunday mornings and weekday mornings Tuesday through Saturday by the New Bmunjels Hemld Ztituna VSPS 377880 707 Landa or Drawer 311328 New 1328 Periodical postage paid by the New Bmunfels HemklZeituiig in New Braunfels Texas Carrier delivered in Comal and Guadalupe counties three months six months one year Senior Citizen Discounts by car rier delivery only six months one year Mail delivery outside Comal County in Texas three months six months one year Mail outside Texas six months one year Subscribers who have not received a newspaper by 6 Tuesday through Friday and by 7 Saturday and Sunday can call 830 6259144 POSTMASTER Send address changes to the New Bmunjels HeraldZeitung Drawer 311328 New Braunfels Tx 781311328 GOT SOMETHING TO SAY The New Braunfels HeraldZeitung encourages letters on any pub lic issue The editor reserves the right to correct spelling style punc tuation and known factual errors Letters should be kept to 250 words We publish only original mail addressed to the New Braunfels HeraldZeitung bearing the writers signature Also an address and a telephone number which are not for publication must be included for confirmation purposes Preference is given to writers who have not been published in the previous 30 days Mail letters to Letters to the 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