Friend of Bill’s

One of Democratic presidential nominee Bill Clinton’s closest and most controversial pals is Occidental College professor Derek Shearer, well known in Santa Monica as a former planning commissioner and city activist.

Shearer would likely play an important role in a Clinton administration, with speculation that he might head the Council of Economic Advisers. Republicans have made much of Shearer’s leftist past, with Shearer countering angrily that his views and past are being distorted.

In any event, we found some choice quotes from Shearer on home ownership back in 1976 in a Times story on new home buyers. Shearer had just bought a Santa Monica house.

Among his observations:

* “Condos just don’t cut it for me. The word condo translates for me into rip-off. I hate them. I’d never live in one.”

* “I don’t like landlords, period. I don’t like the idea of absentee owners taking advantage of tax laws--especially with regard to something so basic to people’s needs.”

- “It’s nice to stand up at the city council meeting and say, ‘As a homeowner, I protest this resolution.’ When you’re a homeowner and your kid plays Little League, there’s no way they can call you a Communist.”

Another quote, which should give some comfort to Shearer’s conservative critics should he join the Clinton administration: “When I was living in an apartment in Washington, D.C., I always felt like I was just visiting; that nothing was permanent.”

Smells Like a Publicity Stunt

With the slogan “politics stinks,” Cerritos businessman Micheal Fanning is pushing a line of “politically correct fragrances” between now and the election.

Fanning advises “Clinton Cologne” users to “splash it on profusely--primarily to the left, being careful not to inhale.”

His “Eau de Perot” is “a rich scent that smells great at first--but almost assuredly and unexpectedly will fade away.” The “Toilette de Bush” has been “successfully tested on both dogs and quayle.”

Fanning says he has priced the three at $9.95.

He says he picked the amount because “it’s about as much as a typical Jerry Brown political contribution.”

Speaking of Clinton

Anyone needing a reminder of how long it has been since a Democrat was elected President can consider some of these business barometers:

* The Dow Jones Industrial Average, which closed at 3,174.41 Friday, was at 966.09 the day Jimmy Carter beat Gerald Ford in 1976.

* Nearly 70 million U.S. homes have added videocassette recorders.

* The national debt was $620 billion, compared to a projected $3.4 trillion to $3.8 trillion this fiscal year.

Briefly . . .

Unhappy anniversary: Virtually unnoticed last week was the 10th anniversary of the signing of the Garn-St Germain Act of 1982, the savings and loan deregulation act that led to the nation’s $500-billion thrift fiasco . . . We’re Number 49! Fortune magazine ranks Los Angeles 49th out of 60 cities nationwide in “pro-business attitude,” but still ahead of San Diego, Sacramento, San Francisco and Oakland . . . The cafeteria at Scotts Valley, Calif., software maker Borland International features a “Turbo Burrito.”