ND Announces New Trustees

----~- ---- - --· Monday, February 19, 1996• Vol. XXVII No. 92 THE INDEPENDENT NEWSPAPER SERVING NOTRE DAME AND SAINT MARY'S Tax assistance provides 'real world' experience By MAUREEN HURLEY pared," said Saint Mary's alumna and Saint Mary's New~ Editor CPA Kristi Horvath, who volunteers with the program. "Anytime I've been there, I·:veryone's favorite time of the year is there has been an excellent turnout." approaehing. Student participants agree on the pro Tax time. gram's community impact. "The pro Saint Mary's and Notre Dame stu gram is for the working poor. We can dents, staff members hopefully get them tax advantages and ai1d Miehiana resi tax breaks, without them having to pay dents with an annual consultation fees," said Saint Mary's ineome of less than business major Danielle Fikel. $25,000 for 1995 are Milani stresses the real-world experi nligible for free tax ence accounting majors receive, along eonsultation through with the service provided to the commu the Tax Assistanee nity. "These are real people, and real Program· L--~-'-M-"'i"'-la_n_i...__..___, money," he said. "This isn't just a hypo "It's thn largest pro thetical textbook problem." gram in Indiana," said Claude Henshaw, business professor Ken Milani, coordinator and professor of' and Saint Mary's coordinator, said the aeeountancy at Notre Dame. students receive highly specialized train Aeeounting majors, along with staff ing students to prepare the federal and members from six Michiana accounting state tax returns. "They're trained to firms, ofTnr free consultation at campus help these low-income clients take sitns, along with loeations at local advantage of the tax laws, get deduc libraries and neighborhood centers. tions, and save money," he said. Thnse students take a course in feder The program is funded by the Notre al tax, along with four weeks of training Dame College of Business and coursns ofTt~red at Notre Dame "focused Administration, with supplies provided on the needs of low-ineome taxpayers," by the Internal Revenue Service and the Milani said. Indiana Department of Revenue. In the over the 25 years in existenee, Hepresentatives are available at the tlw program gained popularity. Last Notre Dame Center for Social Concerns year, over I BOO returns were filed by from 2:30 p.m. to 5 p.m. o.n Wednesdays The Observer/Rob Finch program volunteers. and on the Saint Mary's campus "This is a very valuable program. A Tuesdays from 3:30 p.m. to 5:30 p.m. in Saint Mary's and Notre Dame Accounting students offer tax consultation through the lot of thesn people could not ordinarily room 304 of the I Iaggar College Center Tax Assistance Program. The service is offered throughout the week at both campuses, have their taxes professionally pre- through April 15 for consultation. along with locations in the Michiana community. ND announces new trustees Chami: Clinton's plan Special to The Observer faeulty in the Department of 1990 in one of the two trustee Materials Scienee and Engi positions reserved for recent for banks likely to fail Notre Danw graduates Nancy neering at UCLA in 1987 as an graduates of the University. llangnl and Thomas Larkin and assistant professor and two She has served on Notre By MELANIE LAFLIN to use monitoring as a substi Northwest1~rn University Chan years later was promoted to as Dame's Advisory Council for Assistant News Editor tute for the trouble-free credit enllor Arnold Wnber have been sociate professor with tenure. Graduate Studies and Hesearch history required by commereial nleeted to thn University of She moved to Fairfield Univer since 1990. The Grameen Bank in banks. Notre Dame's Board of sity, a Jesuit institution, in Fair Larkin has been president Bangladesh seems to have Chami explained his findings Truswes. field, Conn., in 1993. and chief operating officer of caught President Clinton's eye. by using the kye system found An associate professor of llangel's research interests the Los Angeles-based Trust The bank's special program, in the Los Angeles Korean com physies at Fairfield University, are in the area of semiconduc Company of the West (TCW) giving its rural poor access to munity as an example of a suc llat~gel graduated from Notre tor materials, including the de since 1977. lie also serves as commercial loans when they cessful model. I >arm~ in IIJH I as co-valedicto velopment and modeling of in chairman and managing direc might otherwise be denied "The kye systnm uses a more rian of her dass with a bache frared detectors for use on as tor of TCW Funds Management, credit, appears to be working informal approach. A fresh lor of scienee degree in tronomy satellites. She reeeived Inc., and vice chairman and since its inception in 1976. immigrant can receive a loan nwtallurgir~al 1mgineering and the Excellence in Teaching managing director of TCW Now, President Clinton and from a private lender because rnatnrials seim11·.e. Award from the UCLA School of Asset Management Company. Congress are trying to establish his boss vouches for his credi After earning her master's Engineering in 1989 and was Larkin earned a bachelor's a nationwide system of com bility. This new immigrant is and doctoral rlegmns from the selected in 1990 to participate degree in economics from Notre munity banks to assist inner less integrated into soeiety than University of California, Berke in the Kellogg National Dame in 1961 and pursued city entrepreneurs, applying someone who has lived in the lny, she worked as a researeh Fellowship Program, a leader postgraduate studies at the what has worked in countries U.S. all his/her life and there scinntist at the SiiHJHHlS He ship development initiative. New York University Graduate such as Bangladesh to the U.S. fore, it would be more diflicult SI~areh Laboratories in Erlan llaegel serve"d on Notre School of Business from 1962 to Legislation that would provide to run with the money and lose gen, Germany. She joined the Dame's Board from 1987 to see TRUSTEE I page 8 federal money for the estab face in front or his/her small, lishment of several community ethnic eommunity," said banks has been proposed. Chami. Ralph Chami, a Notre Dame Chami and Fischer also ad assistant professor of finanee dressed common culture and and business economics, and laek of mobility as prime rea Jeffrey Fischer, a deputy assis sons for the suceess of the tant director at the Federal Bangladesh bank. Trade Commission, disapprove. In their study, Chami and In Chami and Fischer's new Fiseher state, "Living in a small study, recently published in the village makes disappearing Cato Journal, they write, "eom within the village impossible, munity banking in the United unlike within a large States on a large scale is city ... Family ties make relocat unlikely to be profitable." ing to avoid repayment a cost "Inner cities may need capi linr decision than in a highly tal, but the monitoring mecha mobile soeiety such as the nism that works so well in United States ... Thus the eombi rural Bangladesh is not avail nation of monitoring and geo able in urban America," they graphic immobility allows the added. bank to remain profitable In an examination of com despite the bank's inability to munity banking projects and screen out high-risk borrowers related institutions abroad, as do commereial banks." Chami and Fischer found that Clinton's proposal of the cre The Observer/Dave Murphy successful models have been ation of a system of 100 eom based in areas with relatively munity banks in urban America Car 54, Where are you? homogeneous and geographi is completely difl'erent from the Notre Dame Security officer Kevin Knight works the weekend shift at the dispatch center. cally immobile borrowers. These factors allowed lenders see BANKS I page 8 ,----------- page 2 The Observer • INSIDE Monday, February 19, 1996 r • Wo~u1 Ar A GuNcw I I Officials investigate Amtrak train wreck in Maryland ' Fire up WASHINGTON Investigators picked through mangled wreckage ~ Train crash in Maryland Sunday to determine why a commuter train was '·, ',, How an ~mtrak_ and a Maryland co~muter train that moving more than twice as fast as it should have collided Fnday evemng, accordmg to · b " 1 · · t Amt k 1'·'. & "'- prehm1nary reports. ~ b een JUs.t etore s ammmg m .o a? ra p~s- ~~" l:,i MARC senger lmer. Eleven people dwd m the ensumg ~ -,,, commuter torch fireball. ~..... 'i ·""' train: The MARC commuter train was going 63 mph DFreight ~-97~. ' , c There are competing when its engineer apparently sighted the ap- train· · ~*A.''·,. ~~ngtrain theories as to why Greek proaching Amtrak locomotive and slammed on • . ~~~ (',, III!IJ southeast on civilization fell from great the emergency brakes Friday evening, National ~.z/:~~~!rf~n ~~*~'·~ track 2 when ness. Some argue that, Transportation Safety Boa_rd member Jo~n Goglia track 2 to pass ~~ '· , crash occurs like all lights which burn said. It was too late to avmd the deadly p1leup. slower fre1ght . • 11 dead were train on track 1 • · reportedly brightly, the majesty of in first MARC Greek culture was des A signal a few miles back should have warned tined to eventually fade. the MARC train to slow to 30 mph and be pre Others argue that it is pared to stop. Investigators want to know simply because, as a whether the engineer missed that signal or if it people, they liked to Dave Kellett malfunctioned. passenger. 0 4 Staff Cartoonist "Clearly the focus is moving toward the opera -..-::::1 train: wrestle naked and MIIM reward the winner with tor since we have found absolutely no difficulties After passing a hat made of leaves.

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