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t GM IBM DO 20 87 3/4 257 5* 60Va 106*/8 A. G. Edwards & Sons, Inc. WEEKLY MARKET REPORT Illinois Education Board Okays 4 ' Legislative Package For 1979 February 20, 1979 George Washington, his horse, and the whole Continental Congress would turn over in their graves if they could see us now. Of course, its been happening since Korea but lately the terrible deteriorating of the U.S. in the world picture seems even more disgusting and frightning. In the real world, we have mangled our position in the Persian Gulf much to the benefit of Russia and to the detriment of our economy, inflation, and our supposed friends in that area. In Iran, we continued to support the wrong man at the wrong time and late. Bottpm Line-Another ally lost and Americans manhandled by mobs attacking our embassy. Can anyone explain how we still had some 7,000 people in Iran this past weekend and only a handful of Marines. While we get kicked around in a real sense in the Middle East, our President is insulted in Mexico. Admittedly, his totally tactless reference to Mexican food and water showed how insensitive he is but it is obvious that as a nation we have earned the disrespect of most nations. The world, unfortunately, respects and fears power which will be used-we have been proven impotent time and time again. Okay, we apologize for meandering but we have a reason. With all inflation and interest rates probably headed up, with a recession cut there some place, why isn't the stock market holding a going out of business sale? Some take comfort from the fact the market is acting better than the news but we do not because everyone knows it. It has been widely recognized this past week that stocks were doing better than the news which has caused many to feel this means they have to go up~in our opinion, a very dangerous conclusion. What happened last week was that we had an extension of the rally which started the prior Thursday after a sharp 50 point drop and stocks unwound their oversold condition. What will get them down? When stocks do not act well despite the assumption they "have to" because they outperformed the news and complacency is thus cracked. In our opinion, if the rally isn't dead its down to 3 heart beats a minute. The technical shock will be that the standard bearish forecasts for inflation. Interest rates, and the economy are not bearish enough. Traders should stay defensive. Long term investors can buy selected stocks which already seem to discount the end of the Western World. Stocks again will be attractive but the action of the market itself says not yet. We cannot tell a lie to you, Mr. Washington! Yes, we believe that your progeny will fumble through yet another series of crises. It's just that our heart and price-earnings multiples hurt sorely because of the trend our nation remains on. A1 Goldman 0 A more economical pupil transportation aid formula,, desegregation assistance, and changes in the teacher certification program highlight the 1979 legislative package of the Illinois state board of education. The board has approved its 1979 legislative package at its meeting in Springfield. Among the other major pieces of legislation, the board recommended are extension of summer school reimbursement; special education building programs; consolidation of adult education programs; and inter-district incentive program. Limit Summer School Reimbursement - This bill would limit summer school reimbursement to programs serving severely and profoundly handicapped children. Since FY 77, reimbursement has been limited to these children because of the importance of insuring continued educational services during the summer. State Board of Education Chairman Jack Witkowsky points out that by "limiting the summer school program reimbursement, the State board has been able to meet the summer school needs for handicapped youngsters." Teacher Certification Approval - According to State Superintendent Joseph M. Cronin, candidates for certification would be required to complete a sequential program of teacher training approved by the state superintendent of education in consultation with the State Teacher Certification board. Also, the institution at which the candidate received training would have to recommend certification. Currently, over 60 Illinois colleges and universities sponsor collectively 1,000 approved preparation programs. Perspective IRAN MARCHES BACKWARD By RONALD REAGAN Although the Ayatollah Khomeini may not succeed in dragging Iran all the way back to the 7th century, as he hopes, he has plenty of precedent in other parts of the world for pushing it back as far as the 19th. In Britain, legions of strikers are paralyzing the country, modern counterparts of the Luddites of the early Industrial Revolution, who smashed machinery because they feared what it might do to their jobs. The modern strikers want major wage increases and resist all efforts to improve productivity and reduce featherbedding. In this country, the anti- nuclear demonstrators have been remarkably successful in pushing America back toward the 19th century. They are so determined to prevent us from having the energy we need that one wonders if a grand jury shouldn't indict the buggy whip manufacturers and can- dlemakers as co-conspirators. The Ayatollah showed fully as much flair as his backward- marching counterparts in the U.K. and the U.S. But, now that all those screaming, fist- shaking children of the Iranian middle class have had their day in the streets of Teheran, what comes next? What will the Ayatollah do for technicians to pump his oil, the only real source of hard currency for the country? And, what will all those rioters of recent months do when they realize that the old fanatic means business about invoking draconiaw Islamic laws? We can only guess what will happen. What doesn't require much guesswork is the dismal lack of preparation by our government for Iran's convulsion and the resulting destabilization of the Middle East. President Carter complained not long ago about the short­ comings of U.S. intelligence in the region.He should have subcontracted the job out to the Israelis, who spotted the trouble as early as 1977 and began making arrangments for alternative oil supplies (they had been depending by more than 70 percent on Iran up to that time). Today, they are in relatively good shape. Meanwhile, U.S. officials solemnly tell us we shall face shortages here at home. Bob Tyrrell, the good humored editor of "The American Spectator" put the problem this way in his current issue: "Iran is one of the showcases of the Carter wizardry, displaying as it does the prodigious advances that can be wrought in human liherty when McGovernite liberalism works in concert with the KGB." Though his tongue was at least partly in his cheek, there is a traceable line of blunders in the U.S. approach to the Iran problem and they show both indecision and weakness on the world stage. Much of the problem can be traced to Congress which, a few short years ago, was all too willing to listen to the siren * ' • / songs of the American left demanding purges of the CIA and other intelligence gathering services, as if they were evil personified. Add to this the defection of some former CIA agents who now seems to have full time jobs (paid by heaven only knows) conducting holy wars on ther former colleagues by un­ masking their identities (the KGB has not received similar treatment from these messiahs). In Iran, a$ elsewhere, our sources began drying up. Stir into the mixture presistent leaks and con­ tradictory statements from some quarters of the State department (itself laced with McGovernite ideologues); add a fistful of vacillation by the White House (fully behind the Shah one day, thinking he should leave the country the next; fully behind Bhaktiar one day, "flexible" in approach when he faltered); add one U.S. aircraft carrier steaming in circles in the Indian Ocean to "demonstrate" America's resolve to thwart outside in­ terference in Iran - and you have a recipe for a foreign policy souffle that is as flat as a pancake. UpoocBaaooQQoqj J Safe ty Hints | j (Alan J. Dixon) (Secretary of State) Many children are injured every year in accidents near stopped school buses, when motorists fail to heed flashing lights and display a careless disregard or lack of un­ derstanding of the law. You always must stop before reaching a school bus which has stopped to load or unload passengers. Warning will be given at least 100 feet in ad­ vance (200 feet in rural areas) by the flashing amber lights and flashing red lights on the front and rear of the bus. You must stop before overtaking or when meeting a stopped school bus, from either direction, except where high­ ways are separated in the center by median strips. Any driver convicted of failing to stop will have his drivers license suspended for 30 days. It is not necessary to stop for a school bus on a controlled- access highway if the bus is in a loading zone at a place where pedestrians are not permitted to cross. After stopping, you may proceed if the school bus resumes motion or the bus driver signals you to do so, or if the flashing lights are turned off and the stop signal arm is no longer extended. (A copy of the Rules of the Road will be sent to you upon request. Write to Alan J. Dixon, Secretary of State, Springfield, 111., 62756) Saving Calories When making party dips, save calories by using low calorie mayonnaise-type dressing, yogurt, cottage cheese or Neufchatel cheese. Under the recommended bill, colleges and universities offering approved teacher training programs would have to institute a grievance procedure. Anyone denied institutional recommendation could avail themselves of the procedure. According to Bentz, "if the school would not change its decision, the candidate could appeal the case to the State Teacher Certification Board. They in turn would recommend final action to the State Superintendent." Special Education Building Programs - Under this bill the existing $100 million bond authority administered by the Capital Assistance program for debt service would be reduced to $90 million. The $10 million would be used to create a new bond authority for special education construction purposes. Participation in this program would be limited to districts that previously participated in the special education building reimbursement program. An Efficiency Transportation Formula Proposal - Under the proposal, a district would receive aid for all pupil transportation programs under one formula, which would relate the costs of transportation to the type of district. Aid would be distributed on the basis of efficiency of operation, comparing districts with similar programs to each other. Desegregation Assistance -- This bill would authorize the state board to reimburse school districts for costs associated with implementing desegregation plan. The bill would recognize past fiscal expenses as well as current plans in reimbursing districts. Cronin pointed out that "although the state requires school desegregation, the state has not shared some of the costs of PAGE 17-PLAINDEALER-WEDNESDAY, FEBRUARY 28. If7» compliance." He continued, "local districts will now receive reimbursement for monies spent on instructional services, staff training, instructional materials, administration, and community relations to make integration work." Inter-District Incentive Program - Under this bill the state board would award incentive grants to school districts for Inter- District desegregation activities. Each receiving district would be eligible to receive a $500 maximum per transfer pupil for improving educational services for the attendance centers receiving transfer students. In addition, the state would pay any excess costs attributable to the incentive program, if the local district provides adequate support information. Other legislation recommended by the state board would: Increase certification fees for evaluation of credentials from $10 to $20. * i Provide reimbursement to school districts for gifted programs on a quarterly, rather than annual basis. Authorize the state superintendent to require that regional superintendents conduct only one annual census of handicapped children on Dec. 1 each"year. Authorize the Regional Deaf-Blind center to maintain the educational materials coordination unit, which was formerly located within the Illinois Office of Education. Provide for adult education funds through a single funding source in a one line item budget. In addition, the population served would be identified and accounted to the respective source of funds. Self Improvement Class In the next of a continuing series of self improvement classes, Unity Church of Crystal Lake is offering "The Exciting World of Meditation" beginning Thursday morning. 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