Ukiah Daily Journal from Ukiah, California on June 9, 1998 · Page 2
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Ukiah Daily Journal from Ukiah, California · Page 2

Ukiah, California
Issue Date:
Tuesday, June 9, 1998
Page 2
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A-2—TUESDAY, JUNE 9, 1998 THE UKIAH DAILY JOURNAL AFTERNOON BRIEFING A quick read of the world Associated Press South Korean president returns to U.S. WASHINGTON — South Korean President Kim Dae-jung is making a triumphant return visit to the country that received him years ago when he was down and out, barely escaping execution for his dissident views in his native land. Almost 18 years ago, Kim was under death sentence from the military government that ruled South Korea at the time. The outgoing Carter and incoming Reagan administrations interceded to save his life. Tonight, Kim will sit down with President Clinton at a lavish White House state dinner following a morning meeting with the president and a State Department luncheon hosted by Vice President Al Gore. Once considered a dangerous radical back home, Kim demonstrated his comeback skills, not to mention endurance, by winning the presidency in December. He was inaugurated at age 74 in February. Continuing concerns about North Korea's nuclear potential were expected to dominate his visit here, coming just weeks after India and Pakistan triggered nuclear jitters by setting off nuclear tests. Before its current troubles, he said, South Korea had the world's 11th largest economy. Kim believes an easing of sanctions against North Korea would be an effective way to reduce tensions on the peninsula. The Clinton administration says any such gestures toward the North should be conditioned on North Korean fulfillment of promises to shun nuclear weapons. General named to lead Nigeria LAGOS, Nigeria — Scrambling to avoid a power vacuum in the wake of Gen. Sani Abacha's unexpected death, the ruling military moved quickly today to appoint another general as Nigeria's new head of state. Abdulsalam Abubakar, wearing a beret and army green, was sworn into office during a predawn ceremony, becoming the ninth military leader in oil-rich Nigeria, Africa's most populous nation. Although the immediate question of succession was answered, many Nigerians were waiting to see if Abubakar would push forward with some form of political transition to democratic rule this year. Abacha in the final months of his life appeared again to be moving away from his pledge to hand power over to an elected civilian government. Abacha's five years of iron-fisted rule came to abrupt end Monday when a fatal heart attack cut him down in his sleep. He was 54. Abacha leaves behind an impoverished country, despite its vast oil reserves. Endemic corruption, intolerance to dissent and a dismal human rights are the hallmarks of Abacha's leadership. Although the sixth largest oil exporter, Nigeria must import refined fuel and faces chronic gasoline shortages. ker Air Force Base. Today, President Clinton was signing into law the nation's new $203 billion highway bill. It includes $100 million to help Oklahoma replace the Crosstown Bridge. Forty percent larger than its predecessor, the massive transportation measure also includes money to improve highways, replace bridges and expand mass transit service from Puerto Rico to the Northern Mariana Islands. "This legislation should mean that we're going to improve the efficiency of our road network and improve its safety," said William D. Toohey Jr., senior vice president of the American Road & Transportation Builders Association. Critics are less optimistic. They label the new law an election-year plum for Congress, saying it contains pork for all 50 states. They also say it's a monument to successful lobbying, preserving such questionable tax breaks as ethanol subsidies. But the bill is undeniably a jobs and construction measure. And the results should be readily apparent to travelers over the next six years. Memo indicates foreign money trail WASHINGTON—A 1992 memo telling Bill Clinton that international banker James Riady had "flown all the way from Indonesia" to make a six-figure donation and take a car ride with the Democratic presidential nominee is providing investigators fresh evidence of a foreign money trail. Riady, the Indonesian billionaire, wrote out a half million dollars in checks to the Democratic Party after the five-minute car ride scheduled with Clinton in August 1992 just weeks after he won the Democratic nomination. Bank statements and memos reviewed by investigators show one of the 1992 donations from a Riady company was directly covered by foreign money. The rest were drawn on a personal account that appears to have been replenished — before and after the donations — with foreign funds. Some money went to the Democratic Party's accounts that directly help federal candidates. Riady "will be giving $100,000 to this event and has the potential to give much more," Clinton was told in a memo Aug. 14,1992, that advised he would share a car ride that day with the Indonesian billionaire after a fund-raiser. Wells Fargo and Norwest to merge in $34 billion deal •t? Highway bill being signed today WASHINGTON — The Crosstown Expressway Bridge through Oklahoma City sits at what is known locally as the "Crossroads of America," the junction of Interstates 40,35 and 44. After 30 years of faithfully carrying truckers and travelers, the •nearly 2-mile span is also considered a certifiable mess. Last year an 'Oklahoma state trooper fell waist deep into an expansion joint that had lost its protective plating, one of a number of problems with the crumbling structure. "We say, 'You need to have a third gear so you can jump over the gaps in the street,'" joked Darla Booker, an employee at nearby Tin- Wage gap between men, women narrows WASHINGTON — After several years in which women lost ground in their battle for pay parity with men, the wage gap between the sexes is narrowing again. The earnings gap between men and women has closed by about 3 cents on the dollar since spring 1997 — improvement the Clinton administration is chalking up to low unemployment and recent increases in the minimum wage. "We do think that this is a real improvement and it's due to the strong economy," said Rick McGahey, the Labor Department's assistant secretary for policy. "There are better jobs opportunities out there.... All workers are improving their situation." Since women tend to be concentrated in the lowest-paying jobs, 1996 and 1997 raises in the minimum wage from $4.25 to $5.15 an hour also have helped boost their earning power compared with men, McGahey said. In the 12 months ending March 31, the median weekly wage for women working full time grew 6.6 percent to $455, according to the Labor Department. Meanwhile, men's wages grew much more slowly during the same period —just 2.4 percent to $596. Associated Press SAN FRANCISCO — Wells Fargo & Co. and Norwest Corp. are merging in a $34 billion deal that would create a powerhouse with banks in 21 states in the West and Midwest. The combination announced Monday of San Francisco-based Wells Fargo and Minneapolis- based Norwest would have about $191 billion in assets, more than 90,000 employees, about 20 million customers and 5,777 financial services outlets worldwide. It would be the seventh- largest bank in the United States if all other bank mergers announced this year are completed, and would keep the Wells Fargo name. No decision has been made on job cuts, said Norwest spokesman Larry Haeg. The proposed deal would be the seventh largest overall and the third biggest in the banking industry after Citicorp's planned merger with Travelers Group and Nationsbank Corp.'s proposed combination with Bank America Corp. The financial services industry has been a hotbed of mergers as banks, brokers and insurers strike alliances that can instantly expand their customer base while lowering costs. Norwest and Wells Fargo expect to cut costs by at least $650 million a year by the third year in operation. In afternoon trading today on the New York Stock Exchange, Wells Fargo shares were up $1.37'/ 2 at $364.62'/2 while Nqr- west shares were down $2.68 3 A at $37. Wells Fargo has been in a big deal before, winning an $lll3 billion bid for First Interstate Corp. of Los Angeles in 1996. '• Wells closed hundreds of branches and eliminated 7,000 jobs in the wake of that dedl. There were also problems with missing customer deposits, good checks that bounced, and money incorrectly withdrawn from some accounts and deposited in others. Norwest, the nation's biggest mortgage underwriter, has been one of the industry's top performing banks this decade. ': Wells Fargo shareholders would get 10 shares of Norwest common stock in exchange for each share of Wells Fargo common stock. That would leave Wells Fargo stockholders with about 52.5 percent of the corn- bined company and Norwest with approximately 47.5 percent. The deal is worth about $2(4 billion to Wells Fargo stockholijl- ers : The combined company wHl have offices nationwide frjr mortgage and consumer lending as well as the banks in 21 stated. It will be based in San Francisco, with Minneapolis as headquarters for the combined Midwejt banking business. Players bring back 'Don't Shoot...' The Dally Journal "Please Don't Shoot the Piano Player," a musical fiction set in a 1920s speakeasy, takes center stage Thursday at the Ukiah Playhouse for five performances with pianists Spencer Brewer and Ed Reinhart facing off in the ultimate audition to see who will be chosen as the favorite pianist for a certain Chicago mob-oriented individual, played by Nick Karavas. Other actors, singers and musicians in the cast are: Dick Benson, Will Hawkes, Elliott Little, John Markarian, Donna Peabody, Karen Seydel, Ell e Siegel, Mitch Tomlinson an)d Anne Marie Wilson. There will be five performances: Thursday at 7 p.m.; Friday at 8 p.m.; Saturday at 2 and J8 p.m. and Sunday at 2 p.m. Friday and Saturday night tickets ar,e $12 for adults, $10 for students and seriSo'rs.'All"other perfoi- mances'alre $10 for adults and $9 for students and seniors. Tickets are available at Crow's Nesf, Mendocino Book Company anjd the Playhouse box office at 462.9226. Shop ON THE ftOJID for the best automotive deals REFINANCE/CASH OUT UP TO 125% OF APPRAISED VALUE 2ND TRUST DEED CASH OUTS BASED ON YOUR GOOD CREDIT 7.000% 30-YEAR FIXED RATE 30/30 (7.530% A.PJL) 5.750% 30-YEAR ADJUSTABLE 30/30 (6.258% A.FJL) WE ALSO ARRANGE 30-YR MOBILE HOME LOANS ON LAND YOU OWN IX) YIX. 1 HAVE A n(UDl£M. Icl IS Htlr • BEHIND UN PMI5' BANKRUPTCY • PROrEKTY IN DerAllT • IWJ CRHXT LACK OF INCOME AND MOST OT11ES PROBLEMS O.K. ON THESE LOANS BASED ON EQUITY Your Rxhvood Emplr. Sourc. of Rul duu Financing ^EVENNGS & ! REU. ESTATE BROKER CA. DEFT OF REAL ESTATE Mlimtj 'RATES SUBJECT TO CHANCE TrTHOUT NOTICE • Wf* BASED ON LOAN OF I215JTO GWEVINECAH Join us for dinner FREE Glass of Wine w/dlnner purchase Dinner served Tuet-Sat 5-8:30 pm Downtown Redwood Valley 707485-7340 My PunWn Puss! Love, Snookums She was a CUTIE at 6 9 But she's a BEAUTy at 40 , GRADUATION fe '& FATHER'S DAY** 1 ARE CONING SOON! WE HAVE: Party Supplies • Gift items •Balloons • and Much Morel CONE SHOP US TODAY! New Items Weekly! DOLLAR WORLD Raley's Shopping Center 1395-ANo. Stalest. 463-8455 'The Country's Best Yogurt "TCBVTreats COUPON EXP. 6-10-98 Single Cake or SugarCone 75 Reg. $1.49 All SIZE GUPS & DISHES 50 ( 0ff 7 DAYS 11AM-10 FROZEN YOGURT • ICE CREAM GOLDEN GATE SHELL 11O5 Airport Park Blvd.,Uklah . _462-96$0_ i I I I I I • I I i i Main numben...............468-3500,4684)123 Circulation Number 468-3533 Classified Number* 468-3535,468-3536 Legal/CUwified AdvertUIng 468-3529 DennU Wilson-Publisher ................468-3500 E.C. Meadows-Editor 468-3526 Ray Hamtll-SBorU Editor 468-3518 Lob O'iwrh-CoBmunity Newt £ Barbara Vatconcellos Chief Photographer 468-3538 Janet Noe-Admtisinf Director. 468-3510 Eddie Sefueira-Advertiiinf • 468-3509 GaUWalker-Advertbln* 468-3512 Joe Cham-Advertising 468-3513 Victoria Hamblet-Advertteint 468-3514 Sarah Sutherland-Adv, Aut. & NIE Coordinator 468-3528 Vic Martinet-Production Manager,.468-3515 Yvonne Bell-Office Manager 468-3506 Ken Bohl-Circnlation Manager 468-3532 UDJ Web lite......www.uUahdallyjouraal.eom E-mail The Daily Journal Is primed on at least 25 percent recycled newsprint. Low rub Ink Is also used. Complete the loop and recycle your newspaper. 5J6 • RO-lhwUlO iia 95482 NILE5 NI55RN 2400 N. STATE ST., UKIAH • 462-2900 Sharin'Stitches & Strokes 462-739*7 Ukiah Valley Medical Center ••Ajdventist Health 'uMmnaSSmaiaar Ukiah Main Store 462-9711 • Ptwnnocy 462-9751 CASINO The Ukiah Daily Journal is proud to bo part of the Nowspapers In Education Program, along with these NIE sponsors. Ukiah Daily Publication t (USPS-646-920). Published Daily except Saturday by Ukiah Daily Journal at 590 S. School St., Ukiah, Mendocino County, Calif. Phone: (707) 468-3500. Court Decree No. 9267 Periodicals Postage Paid at Ukiah, CA -SUGGESTED MONTHLY SUBSCRIPTION RATES- DELIVERY TYPE PRICE Walk/Bike Route $ 8.50 Motor Route $ 9.00 Mail in Mendocino County...$12.00 Mall Outside the County $14.00 All prices include 7 rt% California State sales tax. Motor Route and Mail Delivery must be paid in advance. Ukiah Dally Journal Is not responsible for advance payment made payable to carriers. Payments In advance should be mailed directly to the Ukiah Dally Journal. Your newspaper should be delivered before 5 p.m. Monday through Friday, and before 7 a.m. Sunday. There Is no delivery on Saturday. To report a missed newspaper, call the Circulation Department between S and 6:30 p.m. Monday through Friday, or between 7 and 9 a.m. Sunday. Save time. Dial direct (707) 468-3533. POSTMASTER: Send address changes to: Ukiah Daily Journal, Post Office Box 749, Ukiah California 954B2. Business Hour* 8 a.m. - 5:30 p.m. CLOSED CLOSED Man. thru Fri Saturday Sunday Circulation hours 8a.m.-6:30p.m. CLOSED 7 am • 9 am.

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