Arizona Republic from Phoenix, Arizona • Page 69

THE ARIZONA REPUBLIC DOUT JONES 8,545.72 MARKET SUMMARY, E2. BUSINESS BROWSER, E3. NYSE, E4. AMEX, E6. NASDAQ E7.

SATURDAY FEBRUARY 28, 1998 Senior Editor, Les Polk 444-4811 les.polkCalpni.com wwv Jte 'AIL K- be nor sane may Broadcast unit under scrutiny COMING SUNDAY EL NINO HITS TOURISM A lot of visitors wonder what happened to the Valley's clear skies and warm weather. Resorts, golf courses and other businesses wonder, too. Blame Et Nino. CONSOLIDATION BLUES First department stores, then banks 'fell to out-of-state buyers. Now a consolidation trend among contractors threatens to gobble up many of the state's home building companies.

By Max Jarman The Arizona Republic FYI 1 What's for sale? Pulitzer'Publishing Co. is trying to divest its broadcasting unit. The company is considering selling radio stations KTAR-AM (620), KKLT-FM (98.7) and KMVP-AM (860) in Phoenix, as well as its building at 5300 N. Central Ave. The company also is considering selling radio and television stations in other markets around the country.

Its Arizona newspapers, the Arizona Daily Star in Tucson and Arizona Daily Sun in Flagstaff, are not for sale. Pulitzer Publishing Co. said it is that's going on in the industry." Besides KTAR and K-Lite. a possible sale would include' the Valley's KMVP-AM (860) which has sports-talk programming. The company's building at 5300 N.

Central Ave. in Phoenix also would be for sale, Gallu said. Pulitzers publishing unit is not for sale. In Arizona the unit owns the 185,000 (Sunday)-circulation Arizona Daily Star newspaper in Tucson and the 15,178 (Sunday )- Please see KTAR, Page E9 considering selling its Phoenix radio stations, including KTAR-AM (620) Goldman Sachs Co. to evaluate alternatives relating to the broadcasting division, including its possible sale.

The company said the timing is right for a possible sale because a consolidation trend in the broadcasting industry has driven up prices for stations. Chris Gallu, KTAR's vice president and general manager, said the news came as a surprise to him and and KKLT-FM (98.7), or K-Lite, as part of a wholesale divestiture of its broadcasting unit. AZiC The St. Louis, media "It certainly was news to me," he said. "But it's not surprising when you look at all the consolidation the 110' employees of the three stations Pulitzer operates in the Valley.

company said Friday that it hired Huntleigh Securities Corp. and Sedona landmark brings $9.5 million The Sedona landmark Tlaque-paque has been sold for $9.5 million. The Oak Creek-area arts and crafts village with its mission-style buildings, courtyards and 45 shops was bought by an Arizona investment group called Tlaq Partners LLC. The new owner plans to expand the shonnina center's hours and Avnet confirms it's moving HQ to Phoenix site Fortune 500 company to add li ii-imi 1 1 I' A 'i I hi ft vi bring musicians to entertain in the courtyards, said Anthony Harper, who neuotiated the deal. Abe Miller built Tlaquepaque 20 years ago.

His family sold the project that is a stop-oil tor most visitors to seaona. 7th best for business The economic development mag azine Plants, Sites Parks ranked Greater Phoenix the seventh best location in the country for new business. The ranking, in the Febru arvMarch issue, out Phoenix be 500 jobs to local economy By Catherine Reagor The Arizona Republic Arizona's newest Fortune 500 company, Avnet on Friday formally announced its intention to relocate to Phoenix. The computer and electronic parts distributor will move its corporate offices from Great Neck, N.Y., to its facility near Sky Harbor International Airport on July I. Avnet plans to create up to 500 jobs with an average salary of $46,000.

The jobs include positions for executives, engineers, marketing, human resources, warehouse loading and support services. Job information is available at the company's Web site at www.avnet.com. Roy Vallee, president and vice chairman of Avnet; said the company chose Phoenix for its good business climate and high quality of life. Avnet has 2,100 employees in 12 sites across the Valley. "Avnet decision to move here enhances the Valley position as a leading area for high-tech companies in the nation," Phoenix Mavor Skip Rimsza said.

Gov. Jane Hull said Avnet, with its high-paying technology jobs, is a perfect example of the kind ol Please see AVNET, Page PAGI hind Atlanta, Dallas, Chicago, Los Anneles. Nashville and Las Veuas. The list is based on a reader iini.iriiii.in.r.i.i.iiirn i lY i r-tnrn Suzanne StarrThe Arizona Republic survev. Phoenix had the second most affordable labor cost, with an hourly mnnufacturini! waee of $11.82.

Its rate was only 1 cent higher than New York, which ranked No. 9, Automated teller machines were terrifying to Jane Brown (left) of Sun City. But with a Httle practi and some torn Maria Stevens of Norwest Bank, Brown soon became expert with the machines. "Now I love the ATM. I use it all the time, she said.

ATMs often daunting to seniors Study shows two-thirds of people over 65 don't use cash machines after Houston. The magazine said it ranked the top nine instead ot 10 because the first nine cities "outdistanced all the rest in voting." Best Western chief named HIGH TECHNOLOGY Jerry Manion has been named rhirf oneratinc officer of Best Western International Inc. Manion joined the Phoenix-based hotel chain in 1996 and was vice presi versity found people younger than 35 arc twice as likely to use ATMs as people older than 65. About 86 percent of the adults surveyed who were under 35 said they like to use ATMs and do so frequently. Only 33 percent of the seniors polled said they use the cash machines.

"Senior citizens are still the largest group of people who don't use ATMs, but that's changing," said Steve Roman, Please see AIM, Page E9 dent, of development, quality and member serv By Catherine Reagor The Arizona Republic Jane Brown was terrified of using an automated teller machine. The retired schoolteacher tried to get cash from one a few years ago, and it was a catastrophe. As she desperately tried to figure out how to use the bank machine, a long line of impatient customers formed behind her and started to grumble loudly as she fumbled with her card. Brown, who retired in 1989 and lives in Sun City, is not alone. For many seniors, ATM might stand for Another Terrible Mishap instead of automated teller machine.

Although ATMs are a 24-hour convenience to many people, a recent study found that most senior citizens don't use them. Researchers at Georgia Tech Uni 1' ices. A 30-year veteran of the hospitality industry, Manion has held executive positions at Richfield Hotel Management Motel 6, Ramada Metro Hotel, 1 ir- i 'Wfl're lookina for deals in markets that are growing," IRS has surprise Jerry Manion Drumming up careers for some debtors Banks report credit card bills By Edmund Sanders Orange County Register Banks have a powerful new friend to help them collect old debts from credit card holders: Uncle Sam. New retaliations allow Quality Inn International and ITT Sheraton Corp. OSI's Scottsdale office Outdoor Services Inc.

has opened an office at 6991 E. Camelback Road, Suite B375, in Scottsdale. Founded in 1968, OS1 specializes in planning and buying out-of-home media. Its 1 1 regional offices work with more than 200 ad agencies, media buying services and in-house marketing firms. Billings for 1998 are projected to top $3 million in Arizona and $400 million nationally.

Account supervisor Greg Amerind heads the Scottsdale office. lenders to report their company executive Steve Fendrich says. Mattress Firm scouting locations for Valley stores By Glen Creno The Arizona Republic Arizona's hyperactive home building market has a Houston company looking for places to build a string of mattress stores in Phoenix and Tucson. The Mattress Firm is scouting for locations for stores that could open early next year. With new subdivisions springing up and an influx of transplanted residents and corporate transfers, the company is especially interested in the Valley as a growth market.

"If we could have been there yesterday we would have been there," said Steve Fendrich, chief financial officer and one of the owners of the private company. The company eventually wants eight to 10 stores in Phoenix and two or three in Tucson. The stores would open in stages, with the first ready for business early next year. "We're looking for deals in markets that are growing, that people are moving to," Fendrich said. "Everybody sleeps but more people are buying mattresses when they're on the move, buying new Please see MATTRESS, Page E9 chronically late borrowers to the Internal Revenue Service.

So if you thought you'd escaped repaying that credit card bill, think again. "A lot of people are going to get a surprise come April 15," predicts Dennis Hammond, a credit card debt consultant at Debt Marketplace in Santa Fe Springs, Calif. Beginning in January, lenders could begin reporting delinquent borrowers usually those who haven't made payments in six Some banks are already using it for collection purposes, and others appear to be using it as a punitive act against borrowers who don 't pay. Robin Leonard attorney and author specializing in consumer debt Compiled from reports by The Arizona Republic. To submit a news item to AZ Inc, call the Business desk at 444-8142, fax us at 444-4439 or write to repbizpni.com via e-mail.

Get business Ma HenleThe Arizona Republic tf news 24 hours a day About 800 girls from 12 Valley schools came to the Phoenix City Council chamber Friday to meet with businesswomen from various careers. The students were met by Esther Vandecar and Melanie Hobbs, Japanese tiako drummers, for the sessions sponsored by the Phoenix Sister Cities Commission and Japan-America Society of Phoenix. on Arizona Central, the online service of The Arizona Republic.You'll find it at months or more to the IRS for tax year 1997, subjecting those customers to traditional income taxes on the unpaid debt. Please see BANKS, Page E9 www.azcentral.combusiness METALS AND COMMODITIES ONE DOLLAR EQUALS: FRIDAY'S CLOSING QUOTES N.Y. Merc '1 N.Y.

Merc 75.80C Year Year INTEREST RATES Friciay ago Friday ago Prime rate 8.50 8.25 6-month T-bills 5.10 5.15 Discount rate 5.00 5.25 10-vear T-notes 5.62 6.62 Federal funds 5.50 5.50 30-vear T-bonds 5.92 6.80 3-month T-bill 5.17 5.07 Avg. 30-yr. mortgage rate: 7.09 Dollar A fen if 1.4200 wO 126.10 0.0011 Dow Jones: SAP 500: AMEX: 8,545.72 1,049.34 706.12 55.05 0 67 5.70 Troy oz? 299.10 p0Und 4.70 Hanrlv A 4' Peso 1.5130 Harman "a Crude oil 15.44 0.09 Barrel Cotton 64.65C 0.65C Mark 1.8148 Composite Nasdaq: volume: 1,770.51 700,706,070 NYSE: 544.26 0.87 0.0 i 6.3D0 PouncH Troy oz. fa 0.1ZU U.UU um 'mVMvfc yj I -a..