Arizona Republic from Phoenix, Arizona on March 2, 1985 · Page 40
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Arizona Republic from Phoenix, Arizona · Page 40

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Phoenix, Arizona
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Saturday, March 2, 1985
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Page 40
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a. ALL EDITIONS Suitor asks m Quickly on Phillips move Uidld Pratt International "New York financier Carl C. Icahn on, Friday asked a federal court for a prompt hearing on his motion to have' a Phillips Petroleum Co. anti-takeover measure nullified so tr&t he can proceed with his hostile bid for the company. If Phillips' shareholders have defeated the company's recapitalization plan as expected, then a so-called "poison pill" will take eflSfct and make an acquisition by' ajOinfriendly 6uitor prohibitively wsensive. "The poison pill adopted by Phillips' board of directors in; February will allow shareholders to cSBect $62 a share if Icahn captures 3Qjpercent of the company's outstanding stock. jjeahn, who already owns 5 percent of Phillips stock, has launched $60-a-share cash offer for 70 Exclusive licensing of cable TV violates free-expression rights AMoclattd Press 4fSabna Republic Staff IJ3AN FRANCISCO - In a major Vtory fr cable-television companies a federal appeals court ruled Fwfay that rights of free expression arwiolated when a city allows only one" cable system in an area that could accommodate more. Exclusive licensing of cable TV, when several companies could physically operate and meet the city's legitimate conditions, "creates an impermissible risk of covert discrimination based on the content of or the views expressed in the operator's proposed programming," tlfe 9th U.S. Circuit Court of Awpeals ruled. A three-judge panel of the court unanimously reinstated a suit by Chip switch signals takeover of casinos Associated Press I l.AS VEGAS, Nev. - Gaming chips were changed at the Stardust and Fremont hotels at midnight Thursday, signaling new lift- for the troubled resorts. The new chips symbolize the takeover of the two resorts by Sam Boyd, a Nevada gaming pioneer, and his son, Bill, after 14 months of negotiations for their purchase. Chuck Ruthe, a spokesman for the Boyds, said the recording of the sale Thursday took about two hours' to complete. Ruthe said a $185 million loan used to purchase the resorts was "the largest gaming loan ever put together and the largest real-estate transaction in the state of Nevada." The money included $178 million for the purchase and $7 million for renovations. Former owners Al Sachs and Herb Tobman were ordered to sell the resorts 14 months ago after they lost their gaming licenses for failing to halt alleged skimming at the casinos. Meetings Continued from Cl only will be taken at the formal meetings. Kimball said utility officials, lawyers and others who have an' interest in the items on the agenda will be encouraged to attend the workshops so that they can be questioned by commissioners. "Right now, we can't ask any questions of them until the formal meeting where we're expected to make the final decision," he said. "That doesn't give us a great deal of time to study the issues when we have questions." jThe new meetings are not expected to cause the commission any problems with the open-meeting law, according to Neal Beets, chief counsel to the commission, and Steve Twist, chief assistant state attorney general. r Both said they have reviewed the meeting format and as long as the nieeting notices are posted 24 hours irt advance of each session and discussion is limited to agenda items, they will comply with the law. tI think the meetings will be a big help to the commission by giving them an opportunity to discuss issues with the staff, the 'parties and others," Beets said. "It's going to lead to a better decision-making process." II ALL-WOOD UNFINISHED FURNITURE MCM9SS court to act million shares of Phillips another 45 percent stake in the Bartlesville, Okla.. oil giant. But Icahn has conditioned his bid on shareholders rejecting the recapitalization plan and on the poison pill being found invalid. Phillips closed the polls Wednesday on its recapitalization proposal, which if passed would give employees control of the company and shareholders a package of notes and securities that the board values at $53 a share. Wall Street analysts say the plan is worth only $47 to , $50 a share. Attorneys for Icahn, who is banking on a victory when Phillips announces the outcome of the vote Monday, filed a motion in federal district court in Tulsa for an expedited hearing on his request that the poison pill be annulled. Preferred Communications Inc., which was denied permission to show cable programs in south-central Los Angeles when it refused to take part in the city's bidding process for an exclusive license. The ruling could affect numerous other challenges to exclusive city-licensing systems. At least six such cases are pending in California. Three companies operate cable systems in Phoenix, including American Cable Television and Storer Cable Communications, which operate citywide and compete against each other in some sections of the city. The third company, Western Cablevision Services, operates only in the northwest part of the city. jjjjjj Properties sold recently by Harper Investment Company: America's Largest General Electric Builder Distributor Phoenix and Tucson Offices of GES Sold For In Excess of 3.1 Million ; :, Congratulations Lou Catligaro H HARPER INVESTMENT COMPANY 777 'l4 f a'1 lhomis Ko,rf P"fni, Arizon.1 81016 Telephone-602 9S7 777b lc Uffff loll htv Nationwide 1-ttW-WH 1R2U loll I tee In Aruonj 1-tm?S2-2B.' Anron,t ' 1 " ' - i 1 , : II MWMSW II I 1 ' s Ai We at 24 Hour Nautilus will assist you in making the commitment and I fo f4' reaching your goals. Our trained staff will tailor a program to meet j ! x '"f your individual needs. You can work out with state-of-the-art i - m Af ' $T ? " xn s Nautilus exercise equipment free weights, aerobics, racquet- v ball, cardiovascular lifecycles, lap poo1s...enjoy soothing I i y - saunas and relaxing hydrotherapy whirlpools. r r- 1?" " AVOID HIGH INITIATION FEES.S0 call 24 SHAPE 1 X-VNS (247-4273) today and take advantage v x s - of this fantastic limited offer -fK P'JZh x for only $69.00. " .SW- CHANDLER Alma School Si Elliot 839-9904 "EAST MESA 801 S. Power Road 981-1362 MARYVALE 51st Ave. N.W. PHOENIX 35th Ave. & Bell Rd 843-3247 MESA Country Club & Southern 834-7283 PHOENIX 3rd Ave. PVSCOTTSDALE Scottsdale Rd & Shea 991-2911 SCOTTSDALE 7750 E. McDowell 941-8296 TEMPE Rural Rd The Arizona Republic Airline shows its first profit in 17 months America West Airlines re-l ported Friday that December was its first profitable month. The airline, which began operations Aug. 1, 1983, also announced that it plans to place an additional 3 million shares of stock on the market There are 5.79 million shares outstanding. Although the airline, which has its headquarters in Tempe, reported a $1.05 million net profit for December, it showed a loss for the fourth quarter of 1984 and for the year. The fourth-quarter loss was $2.8 million, or 59 cents a share, compared with $3.2 million, or 84 cents a. share, for the same period in 1983. For all of 1984, the airline lost $15.4 million, or $3.26 a share, compared with $9.8 million, or $3.07 a share, in the last five months of 1983. The airline reported a 60 percent load factor, the percentage of available seats filled, in November and 61.3 percent in December. The overall load factor for 1984 was 52.5 percent. "We are quite pleased with this trend in load factor and profitability," said Edward Beauvais, the airline's chairman and chief executive officer. One in 3 work overtime Associated Press WASHINGTON - About 32 percent pf U.S. workers regularly put in overtime beyond the 40-hour week. Salespeople lead in this category 46 percent work extra hours. ,i If J I 20 per day Arizona Public Service received 20 to 25 requests per day for assistance in paying for energy-conserving measures during the first month of the utility's revived Energy Control Credit Program. "That's not as many as we want," Bob Moisan, the .program's manager, said at a conference on home-energy conservation. The program shared costs with 38,000 customers from the time it first began in February 1982 until it was halted in November 1983. It was restarted Feb. 1. i Moisan spoke Friday at a conference for home builders and home buyers co-sponsored by the Arizona Office of Economic Planning and Development, the Homebuilders Association of Central Arizona, and the Western Power Administration. APS offers to give credit on utility bills to customers who install efficient cooling systems, devices that reduce power use during peak hours, or window-shading treatments. The utility specifies types of installations that qualify and limits the portion of the costs that it will share. "We'd like to figure ways to manage the growth (in demand for electricity) so that we don't have to build Pima Road, just north of Shea Boulevard Models broker Plrticipation Welcome NAUJITIIILUS SUPER SPAS seek energy any more power Sk From the 120. 11 (CUSTOM VILLAS MARLBORO OURT 1 Saturday, March 2, 198.5.5 - saving aid ..r plants in this century," Moisan said in explaining Afs-motive. -.t The utility's peak load comes when air conditioners!! run full blast in the 6ummer, so the cost-sharing" program concentrates on energy used for cooling. . i 4 It offers $25 to $70 in credit for installing air conditioners with "seasonal energy efficiency ratings -of 8.6 to 13.6, and credits of $50 and up for heat pump? ' in that efficiency range. It offers 50 percent, up to? specified limits, of the installed costs for varioutM devices that shut off some appliances when household energy use rises and for approved window tintings or, shadings. Moisan noted that new cooling systems and,,; load-control devices are most practical for newf construction. "Chasing the retrofit market is a tough sell," he said;' Pursuing that chase, APS will offer low-cost or no-cost financing later this spring for customers to install load-control equipment in their homes, Moisan said. ' "We're scrambling to work out. the final details of how we'll put that into practice," he said. Open Daily483-0676 MARLBORO GROUP CALL 24-SHAPE NOW. & Indian School 245-1170 & Indian School 241-9570 South of Freeway 831-8081 mm a k Canyon V.A ' 'S?e your counselor lor details and 10 fee "Saturday. March 2. 1985 VISA ItlllMt ThomMtoM f ii

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