The Cincinnati Enquirer from Cincinnati, Ohio • Page 43

C-8 FRIDAY, MARCH 31, 1989 THE CINCINNATI ENQUIRER EDITOR: JOHN MORRIS, 369-1009 Kroger suitC-9 NYSE listC-9 Amex stocksB-10 Factory ordersB-1 0 NASDAQ stocksB-10 Mutual fundsB-11 BUSK I I 11 Portfolio acquires 2400 drink maker as subsidiary 23SO 2300 2250 2200 17 20 21 22 23 24 27 28 29 30 March sumes a substantial position in the $9 billion overall fruit drink market. "Sundor is an excellent company whose products complement our juice business very well," Chairman John G. Smale said in a statement. "We are particularly impressed by the caliber of Sundor's people and the quality of its manufacturing facilities." resources and expertise will allow Sundor to build on its already successful business, (Please see DRINK, Page C- 11) BY PATRICIA GALLAGHER The Cincinnati Enquirer In a move that could reverse losses in its Citrus Hill orange juice business, Procter Gamble Co. has purchased the nation's sixth largest fruit drink manufacturer.

The company said Thursday that it bought Sundor Group Inc. of Darien, and will operate it as a subsidiary. With the move, expands its presence in the beverage industry. Already the No. 3 player in the $3 billion orange juice market, the company now as- Dow Jones 30 Industrials daily highs, with closes at arrow tip Area-interest stocks in industrial average (NYSE change from previous day) GE-38 18 With its purchase of Sundor Group Procter Gamble Co.

picked up such fruit drink brands as Sunny Delight, Texsun, Lincoln and Speas Farm. Cincinnati Stock Exchange volume 901,200 shares Friday's focus: retailing Sakowitz a long way from Texas But retailer feeling more confident about acceptance here BY RICHARD GREEN The Cincinnati Enquirer The party of shoppers pressed their noses against the green-tinted glass Thursday afternoon, rattling the chained door with their hands. The noise caught the attention of Robert Sakowitz, who whirled around, smiling broadly: "We don't open until Friday," he yelled. "Come back then and we'll be ready for you." Looking disappointed, the trio Carlisle leaving Tristate BY JON NEWBERRY The Cincinnati Enquirer Carlisle Companies one of the nation's largest manufacturers of rubber and plastic industrial products, is moving its corporate headquarters out of Cincinnati to Syracuse, N.Y., by the end of summer. The company employs 21 people in its downtown offices, but has no operating divisions in the Cincinnati area.

The future status of the current Cincinnati employees is under consideration, said Gerald L. Doerger, vice president. Announcement of the relocation Thursday came seven months after Stephen P. Munn became president and chief executive officer, succeeding longtime Cincinnati resident Malcolm C. Myers.

It was Myers who persuaded Carlisle's board of directors to move its headquarters to Cincinnati in 1971, shortly after he became president and Market pauses following rally The stock market turned in an indecisive showing Thursday, pausing after its rally of the past three sessions. The Dow Jones average of 30 industrials, up 38.48 points in the week's first three trading days, slipped back .18 to 2,281.34. But advancing issues slightly outnumbered declines in nationwide trading of New York Stock Exchange-listed stocks, with 726 up, 716 down and 498 unchanged. Volume on the floor of the Big Board came to 159.95 million shares, up from 144.24 million in the previous session. Banking MORE TAKEN OVER: Federal regulators took over nine more savings and loan associations in six states on Thursday, bringing the total under government control to 175 in 28 states.

The institutions in Alabama, Georgia, North Carolina, Ohio, Virginia and Wisconsin had assets totaling $3.5 billion at the end of 1988. The largest of the nine, Broadview Savings Bank of Cleveland, had $1.8 billion in assets. MCORP MEETS CREDITORS: About 150 of MCorp's creditors met with company officials Thursday, one day after federal regulators stripped most of the institutions from what had been the state's second largest bank holding company. Meanwhile, MCorp delayed its previously announced plans to release its 1988 financial results Thursday. "Obviously, to report the financial results for an organization that has changed significantly is meaningless," MCorp representative George A.

McCane said. a Autos GM OFFERS REBATES: General Motors Corp. on Thursday announced a buyer incentive package featuring 2.9 financine and cash rebates, a day after (ffMr Herscu said he wanted us in the mall. And here we are," Sakowitz said. Once a crown jewel of Texas retailing, Sakowitz saw its sales slide when the Southwest's oil business faltered in the early 1980s.

Before it filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code in August, 1985, the retailer had 11 full-time stores, six boutiques and annual sales of $150 million. Last year, the retail chains generated sales of about $30 million through its four Houston units. Hooker purchased the struggling chain in December, 1987, and immediately began pumping capital and new life into it. Stressing high profile and future expansion, Hooker officials put Sakowitz into its Forest Fair mall and will open three new Texas outlets. "We were hesitant about coming here because we didn't think we were well enough known," Sakowitz said.

"But now, due to this new concept and the early reception we've received, I'm more confident." If anyone can turn Sakowitz's fortunes around, it's Hooker, Ohlinger said. The Forest Fair store is a prototype for new Sakowitz outlets. It displays merchandise by specific destination or purpose: special occasion, career clothing and weekendleisure. "At a time where shoppers have less time to shop, they can come to us, say what they need and we can direct them to an area that has everything," Sakowitz said. "We'll have all types of merchandise, plus associated accessories and shoes.

It's much easier than running from one department to another." chief executive in 1970. Like Myers, Munn has long of women stepped back but still held their gaze on merchandise being laid out by employees inside Forest Fair Mall's newest store. Sakowitz went back to sorting through dresses and fielding questions, but pointed back to the lingering women outside the store. "That's been happening all day," said the president of Sakowitz. "I just hope it continues once we open.

This is probably the biggest risk ever undertaken by this company and we need customers like that." Local shoppers will get the first look at Sakowitz's Destinations store this morning. How they respond to the two-level configuration of specialty stores within the store will be watched closely by Sakowitz top brass and retail analysts alike. The energetic Sakowitz acknowledges his company's challenges: Cincinnati is a long way from the store's home turf in Houston, Texas. And customers from the Queen City aren't the same as those who parade regularly through Sakowitz's other four stores in the Southwest. "This is the farthest north we've ever gone," Sakowitz said.

"Coming to Cincinnati is a calculated risk, but we look at it as a standing ties to the city he's moving Carlisle to. Munn, 46, was employed by Syracuse-based Carrier Corp. in various executive positions from 1976 until he resigned in June 1988. He earlier graduated from St. Lawrence University and the University of Buffalo, both in upstate New York.

The Cincinnati EnquirerAnnansa Kraft President Robert Sakowitz says coming to Forest Fair Mall is probably the biggest risk ever undertaken by his company. In a prepared statement, Munn said the relocation will 01 bora Motor Co. began offering a similar program. Like Ford, GM indicated the new package was mandated partly by the recent rise in other kinds of interest rates including adjust place Carlisle's headquarters closer to U.S. financial centers and "will enable management to pursue more effectively its growth objectives." Carlisle is a diverse manufac well-calculated risk.

We're hoping for the best." How the Forest Fair store fares may go a long way in determining Sakowitz' national future, believes Chris Ohlinger, president of Cincinnati-based Service Industry Research Systems. Sakowitz had little to say about coming to Cincinnati and being part of LJ Hooker's Forest Fair Mall since that developer's parent company Australian property and retail giant Hooker Corp. owns the chain. "(Hooker Chairman) George turer of industrial products with record 1988 sales of $567 Gannett chairman retires LINE 4 Confused about taxes? Call in your questions for local experts on our recorded Tax Line at: 369-1980 Our panel of experts will share their expertise on capital gains, tax shelters and other tax information in the Business section every Sunday. able rate home mortgages that have slowed consumer spending on big ticket items such as cars and trucks.

In addition to 2.9 financing, which is good only on two-year loans, GM said it was offering cash rebates ranging from $300 to $1,500, depending on model. Ford's rebates range from $300 to $4,000 per vehicle. Indicators HOME SALES FALTER: Sales of new, single-family homes slumped in February to the lowest level in more than a year, the government said, and analysts expect further declines as rising mortgage rates push more people out of the market. Sales dropped 9.4 in February to a seasonally adjusted annual rate of 626,000 after advancing 2.5 in January, when unusually mild weather brought out more buyers. The drop in sales was accompanied by an 8.9 increase in the median price of the homes sold, which analysts said showed that lower-income purchasers were the ones who left the market.

MONEY SUPPLY HIGHER: The two broadest measures of the nation's money supply rose in the week ended March 20, the Federal Reserve Board reported Thursday. The Fed said the measure known as M2 rose to a seasonally adjusted $3,085.3 billion from $3,077.8 billion the previous week. An even broader measure, M3, rose to a seasonally adjusted $3,965.1 billion from $3,951.1 billion. The narrowest measure of the monev suddIv. Ml.

rose to a seasonally Program solves disputes Remedies often can be found BY HANK GILMAN Boston Globe Robert Chase, a Boston-area factory worker, owes the Internal Revenue Service $25,000 for failing to file tax returns after he misunderstood the advice of a tax adviser. He has spent years trying to work out a payment plan with IRS agents. Chase is a troubled taxpayer struggling to make amends with the federal agency many citizens fear most. But while the IRS can be intimidating, there are ways that taxpayers even those who run afoul of the law can resolve their problems smoothly. Unbeknown to many citizens, an IRS Problem Resolution Program helps unravel tax snags.

Taxpayers in a stew should also seek help from accountants Neuharth gives reins to Curley GANNETT NEWS SERVICE WASHINGTON John J. Curley becomes chairman of Gannett Co. Saturday, succeeding Allen H. Neuharth, who retires today. Curley, 50, president of Gannett since 1984 and chief executive officer since 1986, will be the 83-year-old company's fourth chairmanCEO.

Neuharth, 65, steps down after 26 years of managerial leadership nt Gannett. Neuharth was named president and chief operating officer of Gannett in 1970, president and chief executive officer in 1973, and president, CEO and chairman in 1979. He is the founder of USA Today, the company's national newspaper. On March 22, Neuharth announced his resignation from the Gannett board of directors, effective April 27 at the annual shareholders' meeting in Chicago. Curley joined Gannett in 1969 as an editor at Gannett's Times- who frequently negotiate with the agency.

"Taxpayers get too frazzled trying to straighten out a problem themselves The IRS can be ruthless," says Joyce Rebhun, a Los Angeles lawyer who also calls herself a "tax therapist." There are many reasons why honest taxpayers feud with the IRS. The agency makes mistakes, for one thing, and it sometimes takes months to correct the error. Other citizens have more serious problems: they fail to file tax returns, or pay tax bills, because of major debts, illnesses or alcohol problems. Or they just don't understand the tax laws. Others are small business owners who fall behind on their quarterly (Please see TAXES, Page C- 11) Allen H.

Neuharth leaves office today Union in Rochester, N.Y. He held editor and publisher posts at Gannett newspapers in New Jersey and Delaware and served as general manager of Gannett News Service, Gannett's supplemental wire service. Under Curley's direction, Gannett News Service won the Pulitzer Prize for Public Service. In 1979, he was appoint- John J. Curley to become chairman ed vice presidentnews of Gannett.

Curley served as the first editor of USA Today, launched in 1982. He was appointed senior vice president of Gannett and president of the company's newspaper division in 1983. He also was elected to Gannett's board of directors that year. adjusted $786.8 billion from $784.1 billion. Compiled by Dick Benson from staff and news service reports.