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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
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