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The Observer VOL. XXIII NO. 36 MONDAY , UUI U B tn 1 o, i aoa THE INDEPENDENT NEWSPAPER SERVING NOTRE DAME AND SAINT MARY’S Wall Street braces for further losses after Friday’s plunge in other markets around the long huddle Sunday, mapping Associated Press bankers from cutting off credit world. out strategies to prevent a fi­ to brokerage houses and secu­ nancial disaster paralleling the Dow Hour-By-Hour NEW YORK — Wall Street In other early Asian trading rities firms suffering heavy events of two years ago, when braced for more battering Monday, the market in New losses from a plunge in stock the Dow plummeted 508 points THURSDAY SCLOSE Monday as the aftershocks of Zealand fell about 10 percent in prices. on Oct. 19, Black Monday, after its Friday the 13th plunge were its morning session and Aus­ The Fed official said the U.S. a 108-point drop the preceding 2800 r 2,759.84 felt in Tokyo, where prices tralia’s main stock-price index central bank had been in touch Friday. plummeted in early trading. fell 8 percent in the first 20 with central banks in Japan “After what happened ... the The Nikkei Stock Average minutes of trading. and Europe and had received powers that be will do a lot to 2750 was down 442.08 points, or 1.2 The New York stock market assurances from them that avoid a major sell-off,” said percent, at 34,673.94 in the suffered its worst setback since those officials stood ready to John Tierney, a vice president first few minutes of trading the Oct. 19, 1987 Black Monday supply needed cash in their at Shearson Lehman Hutton Monday on the Tokyo Stock crash when prices plunged in countries to counteract any 2700 Inc. Exchange. the final hour of trading last possible fallout from Friday’s Friday and the Dow Jones in­ The Federal Reserve sent sig­ plunge in stock prices. Levels every 30 ■ Tokyo Stock Exchange dustrial average lost more than nals over the weekend that it Officials at both the Fed and 2650 minutes for opens lower, but remains 190 points to finish at will move quickly to meet any the Treasury were closely moni­ demands for cash on Monday, Friday, 10/13/89 firm / page 4 2,569.26. toring developments in the Since 1987, takeover rumors when a deluge of sell orders is overseas markets, primarily and leveraged buyouts had expected to hit the U.S. mar­ Tokyo and Hong Kong. Devel­ 2600 The dollar opened at 139.95 pushed the market higher. But kets. opments in those markets could yen in Tokyo, down sharply trouble with one of those deals “We will be there with all the set the tone for how U.S. mar­ 2,569.26 from Friday’s closes of 144.00 Friday, the employee-manage- liquidity demand that is kets perform when they open 2550 yen in Tokyo and 142.05 yen in ment buyout of United Airlines needed,” said a senior Fed offi­ Monday morning. down 190.58 New York. parent UAL Corp., raised fears cial who spoke on condition of The New York Stock Ex­ The activity in Tokyo was the of problems in the “junk bond ” anonymity. “If there are any change planned to open its first in a major foreign market financing market and sparked doubts about liquidity being computers to receive orders at 2500 I following Friday’s plunge on Friday’s sell-off. available, there is no reason to 7:30 a.m. EDT, an hour earlier Wall Street and was expected be concerned.” i 1 i 1 i ''i 1 i 1 r r Market and government offi­ than usual. Thousands of wor­ 10 11 12 1 2 3 4 to help set the tone for trading cials continued their weekend- The Fed’s action could keep ses MARKET / page 4 William Hickey, director of Food Services, dies of heart attack By KELLEY TUTHILL industry, according to a press Assistant News Editor release. While at Notre Dame Hickey’s William Hickey, director of staff catered special functions University Food Services, died including the 1987 Summer Friday of a heart attack. Special Olympics and supplied Hickey, 54, was in Colorado meals to the Hope Rescue Mis­ Springs, Colo., for Saturday’s sion and the Center for the Notre Dame-Air Force game. Homeless in South Bend. He died at 9:24 a.m. at St. He had also overseen the $6.5 Francis Hospital, Colorado million renovation and expan­ Springs, Colo. sion of Notre Dame’s North Hickey was appointed direc­ Dining HalL according to a tor of food services on July 1, press release. 1982, after running the food William Htekey Hickey, a consultant to nu­ service operation at the Univer­ merous colleges and universi­ sity of Illinois-Chicago Circle, services operation, according ties, held a degree in food ser­ according to a press release. to a press release. vice management from Pratt “I’m in shock, basically,” said Institute, Brooklyn. He also Dennis Koehler, assistant di­ In 1984, Notre Dame won the served in executive food man­ rector of food services. “It’s Ivy Award in national competi­ agement positions in Chicago, hard to believe that he’s not tion among hotels, restaurants at Princeton University, the coming back from Colorado. ” and institutions. State University of New York at During Hickey’s years at Binghamton and at Yale Uni­ Notre Dame, his changes in In 1986, Hickey won the In­ versity. Sleeping on the job The Observer/Sarah Vakker eating ambience, menus, cater­ ternational Food Service Manu­ A Mass will be offered in his facturers Association Silver memory at 10 a.m. Tuesday at Eve Beale tests her book's value as a pillow, while Kim Cenedella ing and marketing earned three Plate Award, the most presti­ remains devoted to studying. The two spent Sunday afternoon in national awards for Notre gious given by the food service the library. __________________________________ Dame’s $17-million-a-year food see HICKEY / page 4 Saint Mary’s kicks off Hurricane Jerry slams into Texas Alcohol Awareness Week Associated Press 62.000 was the site of one of rector of the National the worst hurricanes in U.S. Hurricane Center. By LESLIE LONGVAL ily, and alcohol and the im­ GALVESTON, Texas — history, a storm that killed Jerry strengthened from a News staff pact on society. Hurricane Jerry roared into the 6.000 people in 1900. tropical storm to a hurricane There will be guest speak­ Texas coast Sunday, downing As Jerry struck, heavy rains 110 miles off Galveston Island This week is Alcohol ers who will share stories of power lines, rattling flagpoles and rising tides moved over the at 1 p.m. when its sustained Awareness Week at Saint their experiences with alco­ and trees and combining with upper Texas coast and were wind hit 75 mph, or 1 mph Mary’s; the theme is “Help hol and films that present the highest tides of the year to expected to increase over the above the threshold, according Prevent Alcohol Misuse and the alcohol problems that flood coastal areas. Thousands southwest Louisiana coast, the to the National Hurricane Abuse Through Education." face American society today. of people headed for high National Weather Service said. Center. During the afternoon, Mary Blajda, a planning Promotions for alcohol ground. the storm reached 85 m.p.h. member of the National awareness include a wrecked The center of the hurricane Jerry’s hurricane-strength sustained wind and swung onto Collegiate Alcohol Awareness car along Saint Mary's Road. crossed the coast 10 miles winds extended 25 miles east of a northerly course toward Week said, “The idea behind “This will be a grim re­ southwest of Galveston Island the eye and 15 miles west. That Galveston, the hurricane center Saint Mary’s Alcohol minder of what can happen at about 8 p.m., with sustained was about 10 times weaker said. Awareness Week is to gear when mixing drinking and winds of 75 mph and gusts up than Hurricane Hugo, which Hurricane warnings were projects and presentations driving, "said Blajda. to 100 mph, according to the had hurricane force winds ex­ posted from Freeport, Texas, towards alcohol awareness." All week there will be a National Hurricane Center in tending 100 miles out from its to Intracoastal City, La. Daily activities are geared table set up in front of Coral Gables, Fla. center when it devastated Tornado watches were posted towards the theme of the Haggar College Center with In Galveston, officials re­ Charleston and other parts of over southwestern Louisiana day, said Blajda. These pamphlets about alcohol and ported scattered power fail­ South Carolina last month. and southeastern Texas. themes include alcohol ad­ ures, street flooding and a roof “It’s a very small hurricane. I At 7:20 p.m., a tornado hit diction, alcohol and the fam­ torn off a building, but no im­ would not expect much damage see ALCOHOL/page 4 mediate injuries. The city of from it,” said Bob Sheets, di­ see JERRY / page 4 page 2 The Observer Monday, October 16, 1989 WORLD BRIEFS You can go home again, After undergoing a heart transplant operation, a 39-day- old girl in Padova, Italy was in stable condition and resting peace­ fully doctors said Sunday. Giorgia Panizzolo, who was born Sept. and you can even enjoy it 5 with a tumor in her heart, became the youngest person to un­ dergo the surgery in Italy when doctors at Padova Hospital com­ I’m going home soon.

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