Image provided by: University of Oregon Libraries; Eugene, OR
About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (Jan. 26, 1981)
mwiwwkwmli^mo^- i*i mini ii i NY Exchange prices at 2 p.m. Graphic by Sioux Anderson Businesswoman says women should assert financial skills By JANE DE VIRGILIO Of tha Emerald The joint account may become a thing of the past as more women learn to be their own money managers, a Eugene businesswoman said Friday. Financial consultant Char lotte Page said a woman’s secure financial future depends on her ability to manage her own assets separately from the traditional money relationship with her husband. "Women can’t afford not to take control of their own money and use it to their benefit,” she said. Page was one of four speakers during a seminar on “Women and Money” held at the University. The seminar was designed to teach women per sonal money management and how to obtain financial security. Only two out of every 100 people are financially indepen dent at age 65 because most people fail to set their financial goals and invest, Page said. “You must postpone con sumption today to yield gains later. Women can do this with careful planning for future infla tion,” Page said. She believes that with more women working and earning their own income, they can in dependently provide for their future. She encouraged more women to explore investment possibilities in stocks, bonds, treasury bills, and real estate. Credit is equally important to a woman’s financial indepen dence, said attorney Therese Engelman. She contends most women are not aware when they are victims of discrimination under the Equal Opportunity Credit Act. A single or married woman cannot be denied credit under this act because she applies with her own surname and source of income, Engelman said. A creditor must give a^specific reason in denying credit. If there is a question over denial, suit can be brought against the creditor to examine the credi tor’s records, Engelman said. Many women lose their es tablished credit when their hus band dies if their credit has al ways been under his name, En gelman said. Engelman believes it is a good idea for women to establish credit in their own name and then keep it for life. If individual credit discrimina tion is proven, punitive damages of up to $10,000 may be col lected. Damages in a class-ac tion suit, in which a group of people file together, can amount to $500,000. State employees protest use of pensions Union members oppose South African investments By MIKE RUST Of the Emerald Declaring that “we too have the right and the responsibility to speak to the issue,” the Oregon State Employees Association has taken action against the racist and anti-labor policies of South Africa’s Nationalist regime. The OSEA has adopted a resolution opposing the investment of state pension funds in companies which do significant business in South Africa. The action, which came at the state meeting Jan. 17, is a revised version of an earlier resolu tion of OSEA Chapter 338 — the Univer sity chapter — which was passed unanimously last November. Chapter 338 union steward Diane Hig gins says approximately $373 million out of $1.1 billion of the OSEA Public Em ployee Retirement System funds are dir ectly involved in state investment in South Africa. In a letter to the OSEA state board, Higgins said "such funds are invested in corporations which make loans to South Africa, supply it with vital advanced technology, and otherwise help maintain South Africa’s system of racism and repression of labor.’’ South Africa has long been an inter national pariah because of its policy of apartheid, in which 18 million blacks are denied citizenship and basic human rights. South African whites, who make up only 13 percent of the population, control 87 percent of the land and most of the natural resources. The South African government is con trolled by the Nationalist party — which is dominated by Afrikanners (whites of Dutch descent). Since they assumed power in 1948, the Nationalist party has consolidated its power through police terror, legal restrictions and electoral gerrymandering. However, in addition to the moral question involved in the investment of funds in South Africa, Higgins incicates there are also financial implications for American workers. For one thing, she says, the jobs of American workers, particularly union members, are jeopardized by foreign nations such as South Africa, which can supply cheap labor through oppressive policies. "General Motors is flourishing there, while the car industry goes downhill here," she says. There is also the question of whether or not it's especially wise to be investing pension-fund money so far from home. Higgins says many OSEA members would like to see that money invested in Oregon. A study completed in Massachusetts shows in-state preference for investment purposes is financially feasible, she says. Currently OSEA is attempting to come up with a bill to present before the Oregon Legislature. It is still uncertain whether or not the "Oregon preference" clause that calls for in-state investment will be part of the final product. Whenever the bill is hammered out, state Rep. Margie Hendriksen, D Eugene, has "definitely said" she will be a co-sponsor, Higgins says. Hendriksen represents District 40, which includes most of south Eugene. During the 1979 legislative session, the State Senate considered a bill sponsored by Jan Wyers, D-Portland, which would have prohibited investment of state funds in corporations which practice discrimination. The OSEA is a member of AFL-CIO, which has long opposed the policies of the South African government. Higgins says the state AFL-CIO may adopt a similar resolution. "We haven’t yet presented it before the state AFL-CIO, but we think there won’t be any problem because of the national position," Higgins says. The Lane County Labor Council has already adopted a resolution simliar to that of OSEA Give the perfect symbol of love . . . Keepsake diamond . . . guaranteed perfect now and forever. 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