Arizona Republic from Phoenix, Arizona • Page 32

ALL EDITIONS P2 "'he Wf itona Republic Wednesday, January 16, 1991 3 big banks gained in '90 1 didn't Public and private efforts urged to attract business First Interstate cut losses in 1990 By Naaman Nickell The Arizona Republic Mayor Paul Johnson said Tuesday that attracting businesses to Phoenix is going to require a strong commitment from the public and the private sectors. Speaking at a breakfast meeting of the Phoenix Chamber of Commerce, Johnson said he wants to cooperate with the Chamber in "getting our act together" in economic development. Chamber executives and Phoenix officials have been meeting to work out differences over what should succeed the Phoenix Economic Growth which is being phased out as a result of the establishment of the Greater Phoenix Economic Council, an umbrella organization that will oversee economic development Valley-wide. Earlier this month, Johnson recommended to the City Council and the growth corporation's board of directors that the city take over the function of working with prospective businesses that the economic council refers to Phoenix. Subsequently, C.A.

Howlett, chairman of the Chamber's board of directors, wrote to Johnson suggesting that the private sector should have the lead role in handling business prospects and that the Chamber is ready to take on that task. "There is no shortage of groups involved in economic development," Johnson told Chamber members Tuesday. There are so many organizations that businesses don't know where to go for help, he said, and it's important that this be clarified. "When someone comes in to talk about economic development, they need to effectively feel there is a private-sector group and a city group they can deal with collectively," Johnson said. Howlett said the Chamber would need an additional $200,000 annually to support an economic-development program, and he asked that the mayor and City Council assist in raising the money.

Johnson said he is ready to help with the fund raising, which, if successful, could save the city about $300,000 that would be needed if the city were to handle prospects. Howlett said Chamber members will be talking with City Council members to secure their support for the fund-raising effort. tory of repossessed real estate. It had $169 million in real estate at year-end 1990, compared with $108.7 million at the end of 1989. In its announcement, the bank emphasized that its equity capital position improved last year.

Equity capital was $349.6 million as of Dec. 31, compared with $267.2 million a year ago. The bank also indicated it has a ton of money to lend. "A strong base of core consumer deposits, combined with a highly liquid above-market bond portfolio, created a position of liquidity in excess of $2 billion," the bank said. Total deposits as of Dec.

31 were $6.14 billion, a slight increase from $6.11 billion on the same date a year earlier. understand that our 1990 financial results benefited from a number of items, such as the sale of our Nova subsidiary and a very low income-tax rate, which we cannot expect to be repeated in 1991," said Edward Carson, chairman and chief executive. I All new Macs now in stock I Mac Classic 2 Meg 40 HD $1249 Mac LC2M4QHD1Z' RGB color 12299 Mac Hsl 2 M40 HD IT RGB, aid kb 3199 ImageWrltor II $399 Personal LaserWritetNTS 2199 nataarifvi Machtoah mamory axpantlon CALL HP LaserJet UP $939 III 2 Meg upgrade for IIP, 111 PostScript Cartridge $499 ApptaTalk IF 229 DeskJet 500 for PC or cornpatibl 465 DeskWrlterforMac $679 PaintJet Color Printer $899 No surcharga on Visa MC Apple Credit! aSSSS 955-1404 Amhorlttd Dealer VSSt LM, I. HfflWJ.BBWE a (si9 mms mmm The 900 industry is the most lucrative business opportunity of the decade Take your piece of this Sell any product or information using 900 's Get started with no prior experience Thu, Jan 17, 7:30 PM Hotel Weslcourt 10220 Metro Pkwy East Phoenix, AZ Fri, Jan 18, Hotel 10220 equal to or exceeding some of the highest-performing banking organizations in this country." First interstate's improved performance resulted in large measure from a sharp reduction in non-paying loans, a reduction in the size of its allowance for loan losses and a reduction in loan losses. The bank's net loan losses last year were $122.97 million, compared with $272.15 million in 1989.

The total of non-paying loans was reduced to $246.6 million, compared with $310 million at the end of 1989. And the reserve for loan losses stood at $212.2 million for 1990, down from $255.7 million a year earlier. At the same time, though, the bank continued to build its inven Chase's loss for the year compared with a 1989 loss of $665 million, while its fourth-quarter earnings of $193 million, or $1.32 a share, compared with earnings of $175 million in the final quarter of 1989. "We are encouraged by the fourth-quarter results," Chase Chairman Tom Labrecque said. "We met the objectives outlined this past summer in terms of earnings, capital and sales of non-strategic assets." First Interstate's 1990 results compared with a net loss of $344.3 million, or $7.56 a share, in the fourth quarter of 1989 and a loss of $124.5 million, or $3.30 a share, for the year.

"However, it is important to quarterly loss of seats filled, dropped to 57.8 percent from 61.2 percent. For the fourth quarter, America West carried 3.9 million passengers, compared with 3.6 million passengers for the same quarter in 1989. The airline's load factor dropped to 57.6 percent for the quarter from 59 percent for the same quarter a year earlier. Revenue passenger miles for the quarter rose to 2.8 million from 2.2 million for the 1989 period. For 1990, America West carried 15.6 million passengers, compared with 13.4 million for 1989.

Its load factor rose to 60.8 percent in 1990 from 57.8 percent in 1989. Revenue passenger miles jumped to 11.1 billion in 1990 from 7.9 billion in 1989. Available-seat miles increased 33.6 percent, to 18.3 billion in 1990 from 13.7 billion in 1989. An available-seat mile is one seat flown one mile. Public Notice INVOICE NO.

91008 INVITATION TO BID Bid 044 PAGE ELECTRIC UTILITY is accepting bids on the following Hems: Pole mounted padmounled distribution transformers, cables misc elec supplies. Specs may be obtained at Utility office between 8 a.m. i p.m. Mon-Fri. Bidding will close 12691 at 1:30 p.m.

at which lime bids will be opened. PEL) reserves the right to refuse any or all bids. Submit written bids to: PEU, Box I95S, Page. AZ 86040. (602) 645-2419.

Published: Arizona Republic, January 16, 1991. K1 WENZ UVING TRUSTS 5 Convenient Valloy Locations Call For Schedule of Free Seminars East 839-7999 Weal 841-9139 Toll Free 1-800-950-4606 3:00 PM and 730 PM Weslcourt Metro Pkwy East Phoenix, AZ To register or for more Information call (800) 724-7898, 24 hours But loser Chase reported a profit for 4th quarter The Associated Press NEW YORK Three of the nation's largest banking companies reported contrasting fourth-quarter and year-end results Tuesday, but a fourth was profitable for both periods. Citicorp said it had a loss of $382 million in the final quarter of last year but a profit of $458 million for the full year, while Security Pacific Corp. said it had a fourth-quarter loss of $357.6 million but a profit of $161.3 million for the year. Chase Manhattan meanwhile, reported it earned $193 million in the fourth quarter but had a loss for the year of $334 million.

First Interstate Bancorp, parent of First Interstate Bank of Arizona, reported a profit of $91 million, or $1.32 a share, for the fourth quarter of 1990 and a profit of $468.7 million, or $7.30 a share, for the full year. Citicorp's 1990 profit was down from its 1989 profit of $498 million, and its fourth-quarter loss of $382 million, or $1.26 a share, represented a 51.3 percent improvement over the 1989 fourth-quarter loss of $784 million. "Deteriorating U.S. real-estate property values, the emerging U.S. downturn, and unsettled conditions in certain foreign markets are reflected in the 1990 results," Citicorp said in a prepared statement.

Citicorp's board of directors voted to cut its quarterly dividend on common stock by 43.8 percent, to 25 cents a share, down from 44.5 cents a share, in the fourth quarter of 1989. Security Pacific's earnings of $161.3 million for 1990 were down from $740.6 million in 1989, while its America West AMERICA WEST, from page Dl filed for Bankruptcy Court protection, citing such pressures as the high cost of fuel. A major expansion by America West last year resulted in the airline's flying a record 15.6 million passengers and a 40 percent increase in "revenue passenger miles" flown, but the increases could not offset the "dramatic increase in fuel costs," Beauvais said. A revenue passenger mile is one paying passenger flown one mile. Despite the heavy loss projected for the fourth quarter, Beauvais said he is optimistic about America West.

"We have in place one of the most modern, fuel-efficient fleets in the world, along with a highly motivated work force whose productivity is the envy of the industry," he said. "These factors will carry America West through these difficult times." The airline repeatedly has proven since it began flying in 1983 that it is a survivor, Beauvais said. Public Notice INVOICE NO.WJ17 The Scollsdale Unified School District will receive bid lor the Materials Distribution Center until 2:00 P.M. on Thursday, January 24, 1991, at the Purchasing Department. 3811 North 44th Street, Phoenix, Ariiona I50H.

Bidders may obtain Bidding Documents at the office ol RoberlsDinsmore Associates, 424 44th Street. Suite 100, Phoenix. Aruona 85008, from 1:00 A.M. until 5:00 P.M., Monday through Friday In accord with Ihe Instructions to Bidders, uoon depositing the sum ol one hundred dollars (I00 00) per set to guarantee the return ol each set pi documents. The deposit is to be made out to RoberlsDinsmore Associates.

The entire deposit wiU be refunded upon Ihe return ol Ihe documents in good condition, within ten (10) days after the bid opening. EEO employer. In compliance with Title IX, section 504 Piihlkhwl- Republic. January 9.16, 1991 INVOICE NO. 91010 PUBLIC NOTICE PHOENIX TRANSIT SYSTEM INVITATION FOR BIDS IFB NO.

91-001 I'hocnix Transit System invilcs scaled bids to furnish non-asbeslos brake blocks. Bids must be idcnlilicd as a "sealed bid" in accordance wim the terms and conditions tor submilling bids. Note: This proiecl is lunded wilh 15 5 Federal money Bids will be received until 1000 A.M., Mounlain Standard Time, february 1991, when they will be opened and publicly read at North Central, Suite 530, Phoenix, Toobiain a bid package, contact Larry Juc at 256-595. Bids can be mailed to Phoenix Transit System, P.O. Box 427S, Phoenix, Arirona or delivered to Phoenix Transit System, 234 North Central, Suile 530, Phoenix, Afiiona.

Published: Arirona Republic, January 14,23, 1991 INVOICE NO. torn NOTICE OF COMBINED PUBLIC MEETING AND EXECUTIVE SESSION OF ARIZONA STATE AIR POLLUTION CONTROL HEARING BOARD Pursuant to A.R.S. 49-444 and J8-43102, notice hereby given thai Ihe Ariiona Slate Air PoHulton Control Hearing Board will hold a public meeltng open lo the public at 9:00 a.m. on Tuesday. January 22.

1991 and continuing on January 24. 1991 II necessary, In he Hearing Room at Ihe Office of the AHorney General at 1275 Wesl Washington Slreel, Phoenix, Ariiona 85007. lo consider oral arguments on ell pending legal matter in Ihe matter ol APS Cholla Generating Station Order of Abatement. The Board may vote lo go Into executive sess on from lime lo lime for Ihe purpose ol consultation for legal advice from Ihe Board' attorney, pursuant lo AR.S Published: Aritona Republic, January 11,16, 1991 INVOICE NO. 91009 REQUEST FOR PROPOSALS Sealed Proposals will be received al Ihe otllcc ol the-lown Clerk, Town ol Prcscoll Valley, 8501 E.j Yavapai Road, Prcscoll Valley.

Arlrona 86314. Until' 12 00 a.m. noon MSI Tuesday, I cbruary 19. 1991. tor I nuinccrine Design and Improvement District Ser-( vires lor A Central Waslcwatcr Collection and Trunk! Sewer Svslcm and Roadway Repair and Improve-, menl Proicct.

Construction costs lor this proiecl arc estimated lo be million. Proposals will be opened and read aloud at 17:00 (noon) MSI, Tuesday February 19, 1991. Any proposals received after 12:00 A M. on Ihe above dale will be rciecled. The Town ol Prcscoll Valley reserves Ihe right to accepl or rciccl any and all proposals, or any pari thereof, and waive any inlormalilics deemed In Ihe best Interest of the Town.

i Copies o( the Request for Proposal will be available from Hie nginccring Department, Town Hall. 8S0) C. Yavapai koad, P.O. Box 25454 Prcscoll Valley, A7. 86317, (60?) 777-9707.

A pre-proposal conference will be held al 1:00 p.m., January 31, 1991, al Town Hall located al 850l Yavapai koad, In Prcscoll Valley. LINDA THOR SON Town Clerk Published: Ariiona Republic, January 16, 1991 First Interstate Bank of Arizona dramatically cut its losses last year from those in 1989 and reported it has strengthened its financial position. The Phoenix bank reported Tuesday that it lost $8.6 million last year. In 1989.it lost $153.8 million. For the final quarter of last year, the bank lost $2.1 million vs.

net income of $2.3 million for the fourth quarter of 1989. "When compared to 1989, the relative change in our earnings performance is a very positive indicator," said William Randall, First Interstate's president and chief executive. "Separating the costs of handling problem assets from the rest of our bank, we find performance levels fourth-quarter loss of $357.6 million, or $3.15 per common share, compared with earnings of $191.7 million in 1989's fourth quarter. "Notwithstanding the declining economy, our basic businesses performed well In 1990," said Robert H. Smith, president and chief executive.

"Important strategic decisions were made in December 1990 which will strengthen our future profitability and permit an increased focus on our franchises in the Western states and in Asia." He said the decisions, including taking restructuring charges and building reserves, reduced 1990 earnings but strengthened the company's position to permit strong growth after the current recession. expects record "We are the only surviving post-deregulation airline," he said. "We know how to survive." However, the airline is "not articulating what those steps are," he said. In an effort to curtail costs late last year, America West readjusted some routes and froze the hiring of non-essential employees. "America West is sound, and we can deal with it," Beauvais said of the loss.

"Bjt, quits frankly, we're angry about it because it's a price crisis on energy, not supply. There's plenty of supply." The Air Transport Association accused the oil industry several months ago of increasing jet-fuel prices more than twice as fast as the prices for automobile fuel. The group represents U.S. carriers. America West reported carrying 1.33 million passengers in December, compared with 1.29 million for the same month a year earlier.

The airline's "load factor," or percentage Public Notice INVOICE NO. 91002 Request For Proposal City el Shew Lew Protect f-HL-0490 The City ol Show Low is extending an Invitation lo Interested parlies lo submit proposals to provide geoiechnical services for verlous aspects of Phase I ol Ihe Fool Hollow Lake Recreation Area Development This initial phase will consist ol approximately 8900 secondary road. 6300 campsite loop road, 800 If waterline, 10000 sewerline, and miscellaneous structures lor ten) and recreational vehicle camping Services will Include boring end lest pit locations as required lor evaluation of subsurface conditions, laboratory analysis end evaluation, and pavement design. Detailed proposal instructions, location maps, and submittal lorms may be obtained al no charge from the City Engineer. 200 West Cooley, Show Low, Al 85901.

(602) $37-5724. Sealed proposals will be received until 2:00 PM MST, January 29, 1991, by Ihe City Clerk, 200 Wesl Cooley, Show Low, AZ, 85901. Published: Ariiona Republic, January 13,16, 1991. INVOICE NO. 90222 NOTICE INVITING BIDS LAKE HAVASU CITY INVITATION FOR BID (PROJECTS NO PW-10H1 COMMODITY.

SERVICE OR PRiJECT: LONDON BRIDGE GUNITE REPAIR BID DUE DATE AND TIME: 10:00 AM, MST, FRIDAY. FEBRUARY 1,1991 LOCATION: Management Services Director 1795 Civic Center Boulevard Lake HavasuCily AZ 86403 The work will include restoration of Ihe inlegnly and abearance of the sholcrele soffit of the London Bridge and other incidental work. Specifically, Ihe objective is lo secure Ihe sholcrele facing lo Ihe underside of the Bridge in those areas where debonding has occurred. This will be accomplished by i combination of pressure intection of structural bonding epoxy and steel pins anchored Into Ihe Bridge with structural epoxy. New sholcrele will be placed in those areas where Ihe lacing has come off Ihe London Bridge.

Also, all holes opened during the investigation shall be repaired. After restoration work is complete, Ihe entire soHil wlH be cleaned with high pressure spray and environmentally safe chemicals in preparation lor applying a slain. A chemical slain will be applied lo produce a relatively uniform color. Sealed bids for Ihe commodity, service or proiecl specified wiU be received by the Management Services Director at the above location until the lime and dale staled. Bids received by Ihe correct lime and dale will be opened am read aloud at that lime.

Bids must be in Ihe actual possession of the Management Services Director's office on or prior lo the exact lime and dale indicated above. Late bids will not be considered under any circumstances. Bids must be submitted in a sealed envelope wilh the Invilalion for Bid number and the bidder's name and address clearly indicated on Ihe envelope. All bids must be completed in ink or typewritten on a lorm lo be obtained from Ihe specifications and a complete Invilalion for Bid returned along wilh the offer by the time and dale cited above. Copies of Ihe Notice Inviting Bids, specifications, and necessary information are available by contacting Peggy Morion, Administrative Secretary, at (602) 453-4336.

For technical information, call Robert P. Leuck, Assistant City Engineer, at (602) 453-6336. Plan Deposit: 120.00 for first complete copy. Additional sets may be purchased at a price al $20.00. The deposit for Ihe first set is refundable upon Ihe return of the plans and specifications in good order.

Bid Bond: 5 Labor and Material Bond: 100 Faithful Performance Bond: 100 Project Completion Date or Delivery Dale: April 19, 1990 Lake Havasu City reserves the right to accepl or reject any or all bids or any part thereof and waive informalities deemed in the best interest of Ihe City. Published: Ariiona Republic, January 9,16, 1991. UD has the Home for You Right now, you can purchase a single family home at an attractive price from the United States Government. Just contact your local real estate broker who will explain the details of the sale and process your bid application at no cost to you. Now's the time to buy a single family home from HUD.

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Get ready to clip! Zip right over to your scissors and start with this coupon for 37 off home delivery. Yip, yip, yippee! Subscribe to Hie Arizona Republic and you'll flip over the oodles of coupons you'll find to snip. Money-saving deals on everything from drinks to sip and chips to dip to A 37 OFF HOME DELIVERY Phone. 9 si i pi i a i Delivery address. Billing address City Datc -State.

signature with completed coupon toThe Arliom Republic Subscriber USE ONLY Account fiumbtt Please begin my subscription as indicated: DAILY SUNDAY REPUBLIC 16 weeks $25 check enclosed (1R07) IPR7X 0 8 week $15 check enclosed 0RO4J IPR7 The Aiuzona Hepublic To subscribe, call 257-8300. i i i i i Subscriber Mall payment FOR OFFICE Valid only In current delivery ven and you have not bn a subucriW begin upon rectipt of payment an) completed coupon. Twenty diiyi prior offer, we will tend you renewal bill at the regular home delivery rate. inmaHiitii 1.