October 9, 2001

Page 1

Tuesday, October 9, 2001

Sunny High 67, Low 43 www.chronicle.duke.edu Vol. 97, No. 33

The Chronicle

About face After five straight losses, Carl Franks has decided to make changes to the football team’s starting line up. See page 9

THE INDEPENDENT DAILY AT DUKE UNIVERSITY

U.S., Britain continue attacks on Taliban Widespread anti-American demonstrations rock Pakistan By PATRICK TYLER

New York Times News Service

WASHINGTON For a second day, B-2 stealth bombers flying from the United States joined carrier-based aircraft to strike targets in Afghanistan as anti-American demonstrations began to roil Muslim capitals and Bush administration officials stepped up plans to oust the Afghan regime. Monday’s bombing campaign

U.S. AIR FORCE PERSONNEL move ordnance into place Oct. 7 while on board the USS Enterprise. Aircraft are readied for strike missions against al-Qaida terrorist training camps and military installations of the Taliban regime in Afghanistan.

sent aloft only about half the planes that President George W. Bush launched Sunday in the first military response to the Sept. 11 terror attacks on the United States. American war-

Forum addresses economic fallout Three professors spoke about the financial effects of the Sept. 11 attacks on the World Trade Center and the Pentagon.

See

TALIBAN

on page

8

Candidates in today’s Durham city

Candidates for Mayor

The Chronicle

(Two of five candidates will advance)

Duke experts discussed the impact of the Sept. 11 terrorist attacks on financial markets Monday night at the Fuqua School ofBusiness in the third of

Brenda Burnette

five forums. The first speaker, Campbell Harvey,

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Garcia in the Indian Ocean. The attacks seemed to be continuing on into daylight, suggesting that the Taliban’s antiaircraft defenses had been weakened. The Associated Press reported from Kabul that a bomb fell near the airport there after dawn Tuesday, Afghan time, followed by a missile screaming into the eastern part of the city. Senior military officials have said that attacks would continue night and day.

primary

By KENNETH REINKER

J. Paul Sticht professor of international business, prefaced his remarks with a caveat: “I confess to you I feel a little uncomfortable making this presentation,” he said. “We’re talking about finance, and that’s OK, but there is something else here far more important than finance, and that’s human life.” The forum, entitled “The Terrorism Crisis and the World Economy: What Effects, What Straggles,” featured three speakers, including Harvey, Doug Breeden, dean of the business school and William W. Priest professor of finance, and Frederick Mayer, associate professor of public policy. The event attracted about 100 people. Harvey’s presentation focused on the impact the attacks will have on gross domestic product. He predicted a loss of $165 billion in the United States’ GDP and a $250 billion international loss. Addressing the stock market, Harvey emphasized substantial downward pressure prior to the attacks, but said the events did have a negative impact on the markets. “When the risk increases in markets, by [increasing] political, economic or fi-

ships fired Tomahawk cruise missiles in blazes of light over the Arabian Sea, and B-l bombers flew sorties from Diego

Ralph McKinney

FREDERICK MAYER, associate professor of public policy, speaks at a forum at the Fuqua School of Business Monday night. nancial risk, that means investors de- ning to end are the less developed counmand a higher rate of return,” Harvey tries,” he said. Any economic downturn, however, said. “The only way this can happen is will likely be magnified in foreign nafor stock prices to drop.” Breeden’s remarks echoed much of tions, Harvey said. He added that since what Harvey said, specifically pointing Sept. 11—when the United States and to the Dow Jones Industrial Average, the rest of the world had about equal capitalization—the United States had which has rebounded to within 4 per$6 billion, whereas the rest of the before attacks. lost the cent of its value world had lost $9 billion. “The highly developed countries genBreeden also warned against the erally bounce back pretty well, and the See FORUM on page 7 Pones who get hurt the most from begin-

In the first day of accused gunman David Patrick Malone’s trial, the defendant expressed dissatisfaction with his lawyer, Shannon Tucker. See page 4

The Durham Board of County Commissioners offered to give a German biotechnology company $2 million to open a facility ip Durham. See page 4 . ~

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Ray Übinger

Jeffery White

At its meeting Monday night, the Graduate and Professional Student Council solicited volunteers to be on ..the Academic Integrity Committee. See page 6


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