inter/national news
From Associated Prams report*
Armed men hijack
Venezuelan planes
BARRANQUILLA, Colombia
Hijackers forced three
domestic Venezuelan airliners
to this Caribbean port city in a
meticulously planned operation
Monday, freed the women and
children after 10 hours and the
aircraft then took off for undis
closed destinations
Colombian officials said the
hijackers claimed they were
armed with submachine guns
and grenades
The hijackers had demanded
maps for air routes to all Central
American countries and food
and fuel for the planes, the of
ficials were quoted as saying on
a Caracol radio report The rea
son for the hijackings was not
immediately known
Airport officials said the
hijackers told them they were
Puerto Rican nationalists seek
ing independence for the island
that is a commonwealth territory
of the United States Later con
flicting reports said the
hijackers were Salvadoran
commandos, Colombian
guerrillas or Venezuelans
Reagan rejects
Khadafy denial
WASHINGTON
Pres Reagan rejected Mon
day Col Moammar Khadafy's
denial that Libyan terrorists
have been sent to the United
States to kill government
leaders
I wouldn't believe a word he
says, Reagan declared "We
have the evidence and he
knows it ’’
The president, in a brief
meeting with reporters, left
open the possibility of punitive
steps against the Khadafy
government Asked if he would
seek a boycott of Libyan oil or
other economic sanctions,
Reagan replied only that "There
have been no decisions made "
White House and State
Department officials said U S
economic and political relations
with Libya have been under
review for at least two months.
State Department spokesman
Dean Fischer said the step was
taken with a view toward dealing
with Libya's "terrorist activi
ties "
Fred Meyer sale
causes lawsuit
SALEM, Ore.
A coalition of public em
ployees and retail businesses
filed suit Monday to stop the
state of Oregon from investing
$178 million in trust funds in the
purchase of Fred Meyer, Inc
The action in Marion County
Circuit Court charges that the
investment of the Public Em
ployees Retirement Fund and
State Accident Insurance Fjjnd
is imprudent and a conflict of
interest
The state is one of a number
of investors along with other
institutions, banks and insur
ance companies participating in
the $435 million purchase of
Fred Meyer put together by the
New York investment firm of
Kohlberg, Kravis, Roberts & Co
Fred Meyer stockholders are
scheduled to vote on the sale at
a meeting Thursday in Portland
The sale would bring them a
return of $55 a share
The suit names as defendants
state Treasurer Clay Meyers,
the members of the Oregon In
vestment Council Fred Meyer,
Inc and others involved in the
business deal The action was
brought by the Portland Feder
ation of Teachers, several in
dividual public employees, Pay
Less Drug Stores, Bi-Mart. Em
porium, G.l Joe's and other
businesses
Economists predict
ballooning deficits
WASHINGTON
In the gloomiest forecast yet,
Pres Reagan's economists es
timate the budget deficit could
soar to a record $109 billion in
1982 and $162 billion by 1984
The bleak projections, which
do not take into account the
new budget cuts the president
will seek from Congress early
next year, point to a "monstrous
problem" confronting Reagan
in his quest for a balanced bud
get and a strong economic
recovery, an administration of
ficial said Monday.
Administration sources, who
did not want their names used,
said the new projected deficit is
part of a preliminary economic
forecast given Reagan last
Friday to help him decide on a
1983 budget plan expected to
seek drastic new cuts in a
variety of social programs
Last September, the adminis
tration forecast deficits averag
ing about $60 billion a year
through 1984 without any
further spending cuts or new tax
increases
Without new budget cuts or
tax increases, according to the
new forecast, the deficit will
reach $1091 billion in fiscal
1982, $152 3 billion in fiscal
1983 and $162 billion in fiscal
1984
Budget officials blame the
soaring deficits on the reces
sion because with less econ
omic prosperity, the govern
ment takes in less tax money
Moreover, a mounting deficit in
1982 guarantees budget woes
in subsequent years as the
government is forced to make
ever larger interest payments on
its burgeoning debt — currently
more than $1 trillion
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