// COOK ACT //

// END ACT //

INTRO: A NEW PRESIDENT HAS TAKEN OFFICE TODAY (THURSDAY) IN YUGOSLAVIA'S SMALLER REPUBLIC, MONTENEGRO. HE IS A PRO-WESTERN REFORMER WHO COULD POSE A THREAT TO YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC. V-O-A CORRESPONDENT ART CHIMES IS MONITORING THE SITUATION FROM OUR BUREAU IN PRAGUE, AND HE REPORTS THE TRANSITION IS NOT GOING SMOOTHLY.

TEXT: THE INAUGURATION OF MONTENEGRO'S NEW PRESIDENT, MILO DJUKANOVIC, COMES JUST HOURS AFTER DISTURBANCES IN THE PRINCIPAL CITY, PODGORICE (PRON: POD-GOR-IT-TZEH), BY SUPPORTERS OF OUTGOING PRESIDENT MOMIR BULATOVIC. MR. BULATOVIC FIRST REFUSED TO ACCEPT HIS DEFEAT AT THE POLLS, THEN SAID HE WOULD GO PEACEFULLY, AND THEN INCITED HIS SUPPORTERS TO THE WORST UNREST MONTENEGRO HAS SEEN IN YEARS.

OVERNIGHT (WEDNESDAY-THURSDAY) THOUSANDS OF DEMONSTRATORS IN PODGORICE CLASHED WITH POLICE, WHO USED TEAR GAS AND WATER CANNON TO BREAK UP THE PROTESTS.

AMERICAN ENVOY ROBERT GELBARD SAID IT WAS "ABSOLUTELY OUTRAGEOUS" THAT MR. BULATOVIC RENEGED ON HIS PROMISE TO PEACEFULLY HAND OVER POWER. HE SAID INCITING THE RIOTERS VIOLATED BOTH INTERNATIONAL LAW AND ACCEPTED STANDARDS OF BEHAVIOR. MR. GELBARD, WHO WAS IN BELGRADE, ALSO BLAMED YUGOSLAV FEDERAL PRESIDENT SLOBODAN MILOSEVIC FOR SUPPORTING THE DEMONSTRATIONS.

THE NEW PRESIDENT IN MONTENEGRO REPRESENTS A DIRECT CHALLENGE TO MR. MILOSEVIC. THE TWO MEN COULDN'T BE MORE DIFFERENT. MR. MILOSEVIC, THE FEDERAL PRESIDENT, IS REGARDED IN THE WEST AS A NATIONALIST, ADAMANTLY OPPOSED TO DEMOCRATIC REFORMS. IN CONTRAST, MR. DJUKANOVIC IS A YOUNG, PRO-WESTERN REFORMER WHO WANTS TO PUT AS MUCH DISTANCE AS POSSIBLE BETWEEN HIS SMALL REPUBLIC AND THE REST OF YUGOSLAVIA -- MEANING SERBIA.

THIS IS THE BIGGEST DOMESTIC CHALLENGE FACING MR. MILOSEVIC. THOUGH MONTENEGRO MAY BE A SMALL, REMOTE PART OF YUGOSLAVIA, ITS NEW PRESIDENT WILL SERVE AS A DAILY REMINDER THAT MR. MILOSEVIC IS VULNERABLE. HIS ALLY (EDS: MILAN MILOTINOVIC ) WAS RECENTLY ELECTED PRESIDENT IN SERBIA -- THOUGH ONLY ON THE FOURTH TRY. (SIGNED)
NEB/ART/PCF/KL
15-Jan-98 2:37 PM EST (1937 UTC)
NNNN
Source: Voice of America

[05] NY ECON WRAP (L ONLY) BY JOE CHAPMAN (NEW YORK)

INTRO: STOCK PRICES IN NEW YORK CLOSED MOSTLY LOWER TODAY (THURSDAY). V-O-A'S JOE CHAPMAN HAS THIS REPORT.

TEXT: THE WIDELY-FOLLOWED DOW JONES INDUSTRIAL AVERAGE CLOSED DOWN 93 POINTS AT 76-HUNDRED-92, ABOUT ONE PERCENT. THE MORE REPRESENTATIVE STANDARD AND POOR'S 500 CLOSED OFF SEVEN POINTS AT 951.

ANALYSTS SAY SOME TRADERS WERE TAKING PROFITS AFTER THREE STRAIGHT DAYS OF PRICE INCREASES. BUT ANALYSTS ALSO SAY INVESTORS HAVE RENEWED CONCERNS ABOUT THE ASIAN FINANCIAL CRISIS ... AND ABOUT CORPORATE PROFITS IN THE UNITED STATES.

ALTHOUGH PRICES GENERALLY FELL, THE STOCKS OF LARGE BLUE CHIP COMPANIES WERE HIT THE HARDEST. EASTMAN KODAK, MINNESOTA MINING AND AND BOEING AIRCRAFT FELL.

SOME TECHNOLOGY STOCKS, INCLUDING DIGITAL EQUIPMENT, REGISTERED HEALTHY PRICE INCREASES AFTER REPORTING LARGER THAN EXPECTED PROFITS. COMPAQ COMPUTER, I-B-M COMPUTER AND DELL COMPUTER WERE HIGHER. BUYERS ALSO PUSHED UP THE PRICES OF TRANSPORTATION STOCKS.

DATA GENERAL FELL IN PRICE ABOUT 17 PERCENT AFTER TELLING INVESTORS THAT ITS FIRST QUARTER RESULTS WILL BE WELL UNDER FORECASTS.

ANALYSTS SAY INVESTORS ARE CONTINUING TO DRIVE DOWN THE STOCK PRICE OF COMPANIES THAT ANNOUNCE EARNINGS DISAPPOINTMENTS, ESPECIALLY THOSE WITH A SIGNIFICANT EXPOSURE TO ASIAN ECONOMIC PROBLEMS.

TRICIA ROTHSCHILD IS AN INTERNATIONAL SPECIALIST WITH MORNINGSTAR, A FIRM THAT FOLLOWS THE MUTUAL FUND INDUSTRY. MS. ROTHSCHILD SAYS MUTUAL FUNDS THAT INVEST IN ASIAN NATIONS SAW THEIR ASSETS FALL BY 25 PERCENT DURING 1997 AS INVESTORS WITHDREW THEIR MONEY.

BUT MS. ROTHSCHILD SAYS THERE ARE SOME STRONG INDICATIONS THAT INVESTORS WERE NOT TOO SURPRISED BY THE ASIAN ECONOMIC PROBLEMS THAT CAME TO LIGHT NEAR THE END OF 1997.

THAT'S THE INTERESTING PART OF THIS PHENOMENA ... THAT INVESTORS WERE PERHAPS NOT AS BLINDSIDED (SURPRISED) BY THIS AS ONE MIGHT THINK. IN THE FIRST HALF OF THE YEAR, THE PACIFIC-ASIA, EX(CLUDING)-JAPAN CATEGORY OF FUNDS LOST ABOUT EIGHT PERCENT OF ASSETS.

MS. ROTHSCHILD SAYS SOME MAJOR LONG TERM INVESTORS, SUCH AS THE CALIFORNIA STATE PENSION FUND, ARE STILL HEAVILY INVESTED IN ASIA. AND, SHE SUGGESTS, MANY OF HER COLLEAGUES BELIEVE PRICES ARE NOW LOW ENOUGH THAT MANY ASIAN STOCKS COULD BE BARGAINS. (SIGNED) NEB/NY/JMC/LSF/PT
15-Jan-98 5:06 PM EST (2206 UTC)
NNNN
Source: Voice of America

[06] THURSDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: A WIDE ARRAY OF TOPICS IS CAPTURING THE ATTENTION OF THE NATION'S NEWSPAPER EDITORIAL WRITERS THIS THURSDAY, INCLUDING THE LATEST INTRANSIGENCE BY SADDAM HUSSEIN, AND THE ON-GOING ECONOMIC CRISIS IN ASIA. OTHER TOPICS BEING DISCUSSED INCLUDE: THE SITUATION IN ISRAEL VIS A VIS THE PEACE PROCESS; THE DEBATE ON HUMAN CLONING FOLLOWING ANNOUNCEMENT BY A CHICAGO MAN THAT HE WOULD PROCEED WITH SUCH WORK; AND A SOMETIMES FORGOTTEN CIVIL RIGHTS WORKERS GETS HIS DUE. NOW, JOINING US IN THE STUDIO IS _________________ WITH A CLOSER LOOK AND TODAY'S EDITORIAL DIGEST.

TEXT: THE LATEST REFUSAL BY IRAQ TO ALLOW ONE OF THE UNITED NATIONS INSPECTION TEAM CONTINUE SEARCHING FOR ILLEGAL WEAPONS OF MASS DESTRUCTION IS STILL DRAWING THE IRE OF U-S EDITORIAL WRITERS, INCLUDING "THE CHRISTIAN SCIENCE MONITOR."

VOICE: ITS A CLEAR SYLLOGISM: AT THE GULF WAR'S END, THE U-N SECURITY COUNCIL CREATED INSPECTION TEAMS TO FIND AND DESTROY ATOMIC, CHEMICAL AND BIOLOGICAL (ABC) ...WEAPONS. IRAQ AGREED TO THE TERMS. ... NOT SURPRISINGLY, IRAQ'S ABSOLUTE RULER, SADDAM HUSSEIN, HAS TRIED VARIOUS PLOYS (CALLED SADDAMI TACTICS) TO END THE INSPECTIONS AND THE CONTROLS ON OIL SALES TIED TO THEIR COMPLETION. ... IRAQ CLAIMS THE U-N APPOINTED TECHNICAL EXPERTS ARE PREDOMINANTLY U-S OR BRITISH AND LED BY A U-S SPY. NEITHER ASSERTION COMES CLOSE TO ACCURACY. ... THE DANGER OF ABC WEAPONS THREATENING THE WORLD'S MAJOR OIL SUPPLY IS SIMPLY TOO UNTHINKABLE FOR THE U-N TO ALLOW ANY HALT OF INSPECTIONS.

TEXT: "THE PHILADELPHIA INQUIRER" SAYS WE SHOULD ALL "STAY FOCUSED ON SADDAM" DURING THIS LATEST SITUATION, NOTING:

VOICE: /// OPT /// IT IS EASY TO GET BORED WITH SADDAM HUSSEIN. HE JUST KEEPS DOING THE SAME OLD, SAME OLD [REPEATING PREVIOUS BEHAVIOR]. HE IS TRYING YET AGAIN THIS WEEK TO DICTATE THE MAKEUP OF UNITED NATIONS WEAPONS INSPECTIONS TEAMS THAT ARE SUPPOSED TO FERRET OUT HIS HIDDEN STOCKS OF BIOLOGICAL AND CHEMICAL WEAPONS, EVEN THOUGH THE U-N SECURITY COUNCIL DECREED THAT THIS WAS UNACCEPTABLE. BUT BORING YOU WITH HIS TEDIOUS TRICKS IS THE IRAQI LEADER'S GAME. EVENTUALLY, HE HOPES, AMERICANS WILL TUNE OUT ON HIS EFFORTS TO WEAKEN SANCTIONS AGAINST HIM.

TEXT: STILL IN THE REGION, THERE IS A GOOD DEAL OF CRITICISM OF ISRAELI PRIME MINISTER BENJAMIN NETANYAHU, WHO IS DUE IN WASHINGTON SOON, FOR HIS HANDLING OF THE PEACE PROCESS WITH THE PALESTINIANS. "THE BOSTON GLOBE" IS AT THE END OF ITS PATIENCE WITH HIM.

VOICE: THE GOVERNMENT OF ISRAEL'S PRIME MINISTER BENJAMIN NETANYAHU, CLINGING TO A ONE-VOTE MAJORITY IN THE KNESSET, HAS BECOME MORE DEPENDENT THAN EVER ON SMALL, PAROCHIAL PARTIES AND MORE INTRANSIGENT THAN EVER IN ITS DEALINGS WITH YASSER ARAFAT'S PALESTINIAN AUTHORITY, ITS RELATIONS WITH THE CLINTON ADMINISTRATION, AND ITS OBLIGATIONS UNDER THE OSLO ACCORDS. THE LATEST CABINET DECISIONS -- ISSUING A LIST OF DEMANDS THE PALESTINIANS MUST MEET BEFORE ISRAEL WILL CARRY OUT AGREED-UPON WITHDRAWALS ... SUGGEST ... THAT THE ... CABINET [IS] TRYING TO GET OUT OF BARGAINS ALREADY FORGED BY LESS EXTREME GOVERNMENTS. ... IF NETANYAHU DOES NOT ALTER HIS GOVERNMENT'S INFLEXIBLE STANCE, CLINTON SHOULD MAKE THIS COUNTRY'S DISPLEASURE KNOWN PUBLICLY AND PRIVATELY. THE TIME HAS COME TO FIND OUT HOW MUCH POLITICAL PRESSURE NETANYAHU'S SHAKY MAJORITY CAN TAKE.

TEXT: "NEWSDAY" IS ALSO FRUSTRATED WITH THE CURRENT SITUATION, ADDING:

VOICE: WHAT IS ALSO REGRETTABLE ABOUT THIS HARDLINE STANCE IS THAT IT TENDS TO OVERSHADOW ISRAEL'S LEGITIMATE SECURITY CONCERNS. THE POSITION TAKEN BY THE GOVERNMENT IS SO TOUGH AND ITS REAL MOTIVES SO OPEN TO QUESTION THAT THE INEXCUSABLE TERRORIST ATTACKS ON ISRAEL OVER THE LAST TWO YEARS -- FATAL BOMBINGS IN THE HEART OF TEL AVIV AND JERUSALEM -- ARE TOO EASILY OVERLOOKED.

TEXT: "NEWSDAY" GOES ON TO SUGGEST PRESIDENT CLINTON TAKE A VERY HARD LINE WITH THE ISRAELI LEADER DURING NEXT WEEK'S MEETING HERE IN WASHINGTON. "THE NEW YORK TIMES" LAMENTS IN VIEWING THE CURRENT STATE OF AFFAIRS:

VOICE: THE PEACE EFFORT HAS ARRIVED THIS DISCOURAGING POINT BECAUSE ISRAELI AND PALESTINIAN LEADERS HAVE FORGOTTEN HOW TO TALK TO ONE ANOTHER, NO LONGER BELIEVE ONE ANOTHER AND ARE CONTENT TO LET THE OPPONENTS OF PEACE IN BOTH CAMPS DICTATE THE TERMS OF NEGOTIATION. THAT IS EVIDENT IN EVERYTHING FROM PALESTINIAN LAXITY ABOUT TERRORISM TO CRAMPED ISRAELI BARGAINING PROPOSALS.

ON TO THE ASIAN FINANCIAL CRISIS NOW, AND THESE THOUGHTS IN ANOTHER "NEWSDAY" EDITORIAL.

VOICE: THERE IS FEAR THAT SOME UNPREDICTABLE TURN OF EVENTS MAY GENERATE AN ECONOMIC TIDAL WAVE THAT CROSSES THE PACIFIC. A FINANCIAL MELTDOWN COULD SHAKE THE REGION'S POLITICAL AND MILITARY STABILITY AS WELL. SO IT IS PRUDENT THAT AMERICA IS TAKING A LEADING ROLE IN HELPING TO CALM THE ROILING ASIAN ECONOMIES. BUT WHILE THERE'S NO REASON TO THINK REPAIRS WILL BE EASY OR QUICK, IT'S WORRISOME THAT THEY SEEM TO BE TAKING HOLD SO SLOWLY.

TEXT: EVER SINCE A CHICAGO MAN SAID HE WOULD BEGIN OFFERING A SERVICE TO ATTEMPT TO CLONE HUMAN BEINGS, THERE HAS BEEN A HUGE OUTCRY IN THE PRESS ABOUT THE MORAL AND ETHICAL IMPLICATIONS OF SUCH ACTIVITY. "THE WASHINGTON TIMES" CALLS THE DECISION PART OF THE COUNTRY'S "MORAL VACUUM."

VOICE: RICHARD SEED, THE CHICAGO SCIENTIST WHO PLANS TO CLONE HUMANS FOR COMMERCIAL PROFIT, IS ETHICALLY CHALLENGED. IN FACT, HIS IDEA IS SO REPUGNANT THAT PRESIDENT CLINTON DID NOT EVEN WAIT FOR THE PUBLIC OPINION POLLS TO ROLL IN BEFORE CALLING ON CONGRESS TO 'MAKE IT ILLEGAL FOR ANYONE TO CLONE A HUMAN BEING.' ... [HOWEVER] IT IS EASY TO CRY OUT AGAINST SOMETHING THAT DOES NOT EXIST, SUCH AS HUMAN CLONING. BANNING IT WOULD AFFECT VIRTUALLY NO ONE BECAUSE IT IS JUST AN IDEA ... SADLY, THERE IS ANOTHER SCIENTIFIC ADVANCEMENT, OCCURRING IN A MORAL VACUUM, WHICH MR. CLINTON CHOOSES TO IGNORE ... PARTIAL-BIRTH ABORTION ... [WHICH KILLS] ... ABOUT FIVE-THOUSAND UNBORN CHILDREN EVERY YEAR.

TEXT: "THE WASHINGTON POST" COMMENTS ON THE BALTIC NATIONS CHARTER OF PARTNERSHIP, TO BE SIGNED IN WASHINGTON BY THE PRESIDENTS OF LATVIA, LITHUANIA AND ESTONIA, WITH PRESIDENT CLINTON TOMORROW.

VOICE: // OPT // MANY IN MOSCOW STILL REGARD THE THREE BALTIC NATIONS AS LYING WITHIN RUSSIA'S SPHERE OF INFLUENCE. THIS MAY BE HISTORICALLY UNDERSTANDABLE, BUT IT IS MORALLY UNACCEPTABLE, AS THE CLINTON ADMINISTRATION HAS STATED CLEARLY. STILL, MANY HERE AND EVEN MORE IN WESTERN EUROPE ARE RELUCTANT TO ANGER RUSSIA BY MOVING TOO QUICKLY TO WELCOME THE BALTS. THE RESULT IS A DIPLOMATIC COMPROMISE, A CHARTER OF PARTNERSHIP ... IT IS NOT A U-S SECURITY GUARANTEE; IT WILL NOT BE RATIFIED BY CONGRESS; IT DOES NOT GUARANTEE THEIR EVENTUAL NATO MEMBERSHIP. ... NONETHELESS, // END OPT /// THE CHARTER REPRESENTS AN IMPORTANT STEP FORWARD IN THEIR INCLUSION INTO THE WEST. IT PROPERLY PUTS ON RECORD AMERICA'S 'REAL, PROFOUND AND ENDURING INTEREST' IN THE INDEPENDENCE AND SECURITY OF THESE THREE DEMOCRACIES.

TEXT: LASTLY, A VETERAN OF THE LONG CIVIL RIGHTS STRUGGLE IN THE UNITED STATES, JAMES FARMER, FORMER HEAD OF THE CONGRESS OF RACIAL EQUALITY OR CORE, IS BEING HONORED FOR HIS EFFORTS, AND "USA TODAY" SAYS:

VOICE: [MR.] FARMER HAS SPENT 35 YEARS IN THE SHADOWS, HIS NAME ECLIPSED BY OTHER CIVIL RIGHTS LEADERS. HE IS 78, BLIND AND IN A WHEELCHAIR, BOTH LEGS AMPUTATED DUE TO DIABETES. BUT HE STILL TEACHERS HISTORY AT MARY WASHINGTON COLLEGE IN FREDERICKSBURG, VIRGINIA -- A PLACE WHERE 30-YEARS AGO PEOPLE OF HIS COLOR ONLY CUT THE GRASS AND CARRIED OUT THE TRASH. THE BELATED RECOGNITION OF [MR.] FARMER AND OTHERS BY A NATION STILL VEXED BY RACISM IS A REMINDER OF HOW FAR THE EFFORT TO END DISCRIMINATION HAS HAD TO COME -- BUT ALSO OF HOW MUCH REMAINS TO BE DONE TO OVERCOME THE RACIAL DIVIDE IN THE LAND OF THE FREE.

TEXT: ON THAT HOPEFUL NOTE, WE CONCLUDE THIS SAMPLING OF EDITORIALS FROM THE NATION'S THURSDAY NEWSPAPERS.
NEB/ANG/RAE
15-Jan-98 10:21 AM EST (1521 UTC)
NNNN
Source: Voice of America

Voice of America: Selected Articles Directory - Previous Article - Next Article