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Volume XCV, Number 52	University of Southern California	Friday, March 23, 1984
University to get $22 million from Mobil Oil action
By David Jefferson
Assistant Gty Editor
The university is due to receive over $22 million from its portion of the William Keck Trust as a result of the Mobil Corp.'s proposal on March 12 to make a $5.7 billion acquisition of the Superior Oil Co. of Houston, which was founded by Keck in 1921, the university treasurer's office said.
Under the terms of the trust, the university has been granted 492,000 shares of Superior Oil, said Mark Daftary, a securities analyist with the treasurer's office. The university currently holds 260,000 of these shares, with the remaining share yet to be distributed by the Keck estate.
The takeover is the fifth-largest corporate merger ever proposed, and Mobil will pay approximately $45 per share of Superior Oil, which went for a price of S27.25 per share at the beginning of the year.
Daftary said this sale would put the university's profit at $22.14 million. He added that if the university can receive cash from Mobil, it will sell its stock to the corporation. Otherwise, the university will receive some combination of cash and Mobil stock.
Lyn Hutton, university treasurer, said the trust, which was set up by Keck before his death in 1964, is irrevocable, although there are some limitations imposed by the estate's trustees on the amount of Superior Oil shares distributed to the university each year.
Daftary gave an example of the varied amounts, citing the 1982 total of 82,500 shares received by the university and the 1983 total of 98,000.
He said that at the time of Keck's death, the number of
shares set aside for the university was 3,000, and that through several stock splits the university's holding in Superior Oil increased. He said that if the university had not sold several of its shares between 1980 and 1983, its present total would be 750,000.
Daftary said the university began selling its shares because it "had such a large holding and . . .didn't want too much in one security."
Hutton added, "Right now, (the university's total share holding) is $80 million, and that's a lot of eggs to have in one basket. So we have been taking advantage of trading highs."
She said the last group of shares the university sold went for $41 each.
"What we have now is a rather substantial amount of holding, and we've already built up a tremendous gain in it," Hut-<Continued on page 3)
ATHER AU / DAILY TROJAN
Diane Webb, undeclared sophomore, catches some pre-spring break rays by Cromwell Field, in preparation for next week’s fun in the sun.
Low turnouts plague Olympic speeches
By Sonia Saruba and Jason Knott
Qty Writers
A low turnout characterized each of the five Olympic-related speeches held Thursday as Olympic Week activities continued in Topping Student Center.
The speeches, which were held in sequence throughout the day, began with a discussion of Olympic transportation, followed by two security-related discussions, an inside view of the advantages of being an Olympic sponsor, and ended with some comments on the Games by a Los Angeles Times reporter who has been reporting on the Games during the past seven years.
The series of lectures began at 10 a.m. with'a speech on Olympic transportation by Will Pretty of the Los Angeles Olympic Organizing Committee.
Pretty told the audience of six that if they came to hear a solution to Olympic traffic problems, he could not help them.
"There are no secrets and no magic," Pretty told the listeners.
He offered little or no inside information about the transportation system because he said a lot of decisions have not yet been made and many of those that have are not for public disclosure.
Pretty gave a brief description of the organization of the LAOOC transportation depart-
ment, which he said is made up of 7,500 staff positions and five subsystems.
He said the LAOOC is looking for volunteer drivers to provide transportation for the athletes, press, Olympic officials and those people requiring special transportation consideration. Volunteers are also needed to staff the venue transportation system that will coordinate the activities of the other subsystems.
Pretty said that traffic jams, familiar to Los Angeles residents, might cause problems for athletes trying to get to their events on time.
He said cover buses, empty buses on reserve, will be used to
combat this problem. In case of a traffic jam, these buses will be dispatched to the scene and the passengers will change buses. The cover bus will then take an alternate route that is less congested.
LAOOC Security
Following Pretty's speech, Jay Stodder of California Plant Protection spoke on behalf of the nine guard companies under contract to the LAOOC.
Stodder pointed out that the Olympics in Los Angeles are a first attempt by any nation to make the Games work on a cost-effective basis, drawing on no public funds and relying on private sponsorship.
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Drill squads clinch awards in ROTC invitational meet
By Harvey Drut
City Writer
The university's Air Force, Navy and Army ROTC units swept top honors at the 19th annual Southern California Invitational Drill Meet (SCIDM) held Saturday at the Anaheim Grand Hotel.
Teams from UCLA, Brigham Young, Rutgers and a number of other colleges and several high schools competed in the event, which this university's Air Force ROTC hosted for the first time, said Barry Wilkinson, Air Force ROTC public affairs officer and a senior in international relations at this university.
The university's Air Force unit placed first for the third consecutive year, winning the Sweepstakes Award for excellence.
The Navy unit finished second for the third year in a row, while the Army team came in third in its first drill competition ever, said Scott Hardiman, drill meet chairman and a junior in aerospace engineering.
Kevin Manion, a junior in aerospace engineering, won the individual competition, which he said is the most stressful category in the meet.
"In the individuals, there are four judges
bearing down on you in addition to several hundred spectators, and you ha%’e to be at your absolute best because all eyes are on you. In a team drill, small errors c^n be covered up so the judges miss them," Manion said after demonstrating his competition arrangement, which he said was as strenuous as it was stressful.
Doug Ushijima, drill meet chairman and a senior at the university, said the competition is a formal presentation of both team and individual drill skills.
"Being on a drill team here at USC is an extreme honor because each service has a lot of pride in what image they give the community," he said. "With the amount of work that goes into preparing for a competition, each team usually ends up with the cream of the crop."
Hardiman said the competition is one of the highlights of the year for the services because it is a culmination of several months of hard work.
"This particular competition is similar to participating in an international track meet or in a basketball tournament, like the NCAA tournament, because a lot of time and effort goes into preparation," Hardiman said.
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Center’s programs change since move
By Rebecca Esquibel
City Writer
About six weeks after the university's decision to move the drama department into the Community Services Center, the three programs that were housed in that building have gone through some changes. One has been completely phased out while the other two are dealing with the positive and negative aspects brought by the relocation.
The three programs, which were under the supervision of the College of Continuing Education and used the facilities at the center, were a mini college for junior high students, Upward Bound, which helps high school students prepare for college, and the Senior Nutrition Program, which provides meals for senior citizens in the community.
The Mini College program, which gave junior high school students in the community the opportunity to take accelerated classes on campus, has been completely phased out, said Ernie Cioffi, executive director of academic programming for the School of Continuing Education.
"We felt it wasn't responding to a need in the immediate community," Cioffi said. "As it was, we perceived that it wasn't as relevant as other pressing needs."
Stanford Tate from the Upward Bound program said the relocation of its offices to Bruce Hall has caused some inconvenience.
"Anytime there's a move there are adjustments," Tate said. "(The move) was up to the administration. We had nothing to do with it."
He also said there have been adjustments made in the allocation of space for the students.
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