The Cincinnati Enquirer from Cincinnati, Ohio on October 7, 1991 · Page 51
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The Cincinnati Enquirer from Cincinnati, Ohio · Page 51

Cincinnati, Ohio
Issue Date:
Monday, October 7, 1991
Page 51
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Page 51 article text (OCR)

-TP" "" "w "T " w F r- r- y' r y t -v v r y f v "v "T r V Monday, October 7, 1991 the Cincinnati ENQUIRER Greater Cincinnati 100D-9 CD Maturing? Improve your returns as much as 25 to 100! Before you decide, get the Facts Financial 563-7007 (jENERAL Swt1)79 COMMERCIAL LOANS Specializing in CommercialIndustrial Real Estate Financing: Refinance, Acquisition and all stages of Construction. Also Financing: AR, Venture Capital, Start Up Leasing: Machinery, Equipment, Etc. (High Risk) FUNDS CURRENTLY AVAILABLE AmeriGroup Financial (51 3) 745-9153 A irms reshape themselves Recession forces many to drop staff, product lines SPECIAL 45 OFF SALE! LIMITED TIME FIND HUGE SAVINGS ON DESKS PLUS THE ENTIRE HEKMAN LIN l, J ft-.--VI BY JOHN BYCZKOWSKI The Cincinnati Enquirer fjjl ishopric Inc. of Cincinnati is a lj A classic "metal bender," in the ImJ words of chief executive S. John Davies: a company that makes processing equipment for makers of products ranging from chemicals to orange juice and beer. And it's exactly the kind of company hurt by the recession, in which companies nationwide are cutting capital spending. Bishopric's sales are down a bit, but profits are down by half. "In a recessionary environment, we're damn happy with that," Davies said. 'The Greater Cincinnati 100 provides evidence of the recession's impact on area companies. Excluding American Financial Corp., sales for companies on the list in 1990 rose just 2 from 1989, failing to keep pace with inflation. And employment fell by 3,555, to 65,000. Construction firms on the list lost more than 600 jobs, and manufacturers lost almost 2,000. Some benefit The recession played into the hands of some companies. Cincinnati Drug Distributors, for instance, local franchisee for Drug Emporium, continued to expand and see sales grow as consumers took their business to discounters. Others cut back, hoping reductions made today will make them better competitors in the future. Michel Tire Co. closed nine stores, all of which had been acquired in 1986 from Firestone. Mike Geiger, vice president and chief financial officer, said the stores weren't performing up to expectations before the recession hit, and the slowing economy pushed along the decision to shut them down. The company also cut employment by 5, including five of 30 positions in its home office. Sales are beginning to pick up, Geiger said, but the effort to cut costs won't end: "There's constant pressure to keep (costs) down." The city's largest auto dealer also cut back. "Cincinnati is over-dealered, probably more than any other (city) in the nation," said Pat Martin, spokesman for Automan-age Inc., which operates dealerships under the Performance name. He pointed out that Cleveland has one Acura dealer, but Cincinnati has three. "That's entirely too many for a marketplace like this," he said. As the number of auto name-plates grew beyond the Big Three American automakers and Volkswagen to include more European and Asian makes, Automanage ac quired some new franchises. Some demanded new freestanding dealerships, requiring a large investment, Martin said. As auto sales softened in the late 1980s, Automanage decided "to take product lines that are overdealered and not making money and get rid of them." The company sold off five dealerships, representing about $90 million in annual sales, to concentrate on sales and service of its main name-plates, Toyota and Honda. Burning shoe leather Sales at Bardes Corp., maker of electrical connectors, at best will be flat or up slightly, chief executive David FitzGibbons said. "It's a big market, so you've got to try to do things to gain market share," he said. The company is concentrating on improving customer service, improving quality and making faster deliveries. Bishopric's response to the recession is similar "wearing out shoe leather and ringing doorbells," Davies said. But being a small private company helps the company in a slow economy, Davies said. "If a customer calls, we can be there the next morning. I'm not sure that's true of General Motors," he said. "That's why I've always felt private is better than public." raft- Kj--; jl ft i. . j ., IKE RECORD Now at reduced prices, here is your chance to own an elegant Hekman desk in your favorite style! Shown here are just a few of the many styles and finishes available. Stop in today and make your selection. This sale will last for a limited time only. Assignee: General Electric Co. of Cincinnati. Title: Axial flow laser plasma spraying. Inventors: Eric J. Whitney of Cincinnati, Wilbur D. Scheidt of Cincinnati, William R. Young of Cincinnati and Vanon D. Pratt of Hamilton, Ohio. Patent number 5,043,548. Filing date: Feb. 8, 1989. Attorney-agent Jerome C. Squillaro, and Carmen Santa Maria. THE Patent number. D 319,388. Filing date: June 9, 1989. Attorney-agent Wood, Herron & Evans. Assignee: Fries & Fries Inc. of Cincinnati. Title: Browning agent for foodstuffs. Inventors: James A. Steinke of Cincinnati, David B. Josephson of South Lebanon, Ohio, Daniel J. Wampler of Cincinnati, and Christine M. Frick of Lebanon, Ohio. Patent number 5,043,173. Filing date: Oct. 9, 1990. Attorney-agent Wood, Herron & Evans. Assignee: General Electric Co. of Cincinnati. Title: Yttrium and yttrium-silicon bearing nickel-base superalloys especially useful as compatible coatings for advanced superalloys. Inventors: Edward H. Goldman of Cincinnati and Ramgopal Darolia of West Chester, Ohio. Patent number 5,043,138. Filing date: Aug. 4, 1989. Attorney-agent Jerome C. Squillaro and Carmen Santa Maria. DA Bankruptcies Commercial bankruptcy proceedings begun recently in U.S. District Court for the Southern District of Ohio. A Chapter 7 bankruptcy is a liquidation of the company to pay debts. Companyfirm: JacksonRidey & Co. Inc. Address: 424 E. 4th St. Chapter 7. Assets: $228,096. Debts: $1.1 million. B Patents The following patents were awarded the weeks of August 20 and 27 to Greater Cincinnati-area individuals and companies. A "D" in the patent number designates a design patent Data collected by Tom Nolan IV of Berryville, Va. Assignee: The C.W. Zumbiel Co. of Cincinnati. TrBe: Beverage can carrier. Inventors: Everett L Mcintosh Jr. of Cincinnati and Charles A. Miller of Williamsburg, Ohio. Assignee: Hunt Holdings Inc. of Wilmington, Del. Title: Printer stand or similar article. Inventor C. Wayne Clybum of Cincinnati. Patent number D 319,463. Filing date: June 13, 1988. Attorney-agent Synnestvedt & Lechner. OFFICE FURNITURE 2920 E. Kemper Rd. Sharonville STORE Assignee: Hunt Holdings Inc. of Wilmington, Del. Title: Computer print-out support or similar article. Inventor C. Wayne Clybum of Cincinnati. Patent number D 319,472. Filing date: March 28, 1988. 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For details Phone 381-1954 Volunteers of America 1340 Clay St., Cinti., OH. Tovr Donation Can Mali a Difltranct Creative Canopies Star Banks new Money Manager Accomrt The competitive yield of money market funds. The flexib of unMted check writjng. The convenience of a banL Prime Savings, an exclusive fully liquid, high-interest savings plan that pays the National Prime Rate less 2 points when you maintain a $10,000 balance. All this without the sales commissions of a broker. Or the hassle of different accounts all over town. So, if you want to pursue the competitive returns And now you can get it all in one comprehensive account. Open a Star Bank Money Manager Account with a minimum balance of $5,000, and you immediately start earning interest on a no-fee, perk-filled checking package. And, you gain access to two competitive money market investments: We salute you the visionaries and achievers who comprise this prestigious group, and we extend our best wishes for your continued success. Arthur Andersen ARTHUR ANDERSEN & CO., S.C Trusted Business Ach'isors Since 1913 No-loadt high-quality money market Ki'i mutual funds including a treasury V. uiuiii-y lunu anu tunic u;u:k u) me mm benefits of full-service banking, ask ahnut. Star Rant's Mnn fund-that let you invest effort lessly with an automatic sweep. MONEY MANAGER AX0UNL Manager Account today. Uniquely Qualified, Queen City Awning is the Premier Canopy Center in our area. Offering Complete Project Management; DesignEngineering, Manufacturing and Installation. Specializing in Large Custom Commercial Jobs Illuminated Awnings Using Advanced Materials and Techniques International Award Winner Queen City Awning, For All of Your Architectural Fabric Needs! 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