The Palm Beach Post from West Palm Beach, Florida • Page 87

fiXJOSflDD FEBRUARY 13, 1981 PAGE D14 The Post ff WPEC-TV Breaks Ground on Expanded Facility Bob Rollins grcim a similar operation also is closing. "Not so," ay Lew Wachsman, United's manager. "We're owned by the second largest jewelry firm in the nation, Gordon's, and they've got plenty of money behind them." Cash flow has been a problem for many merchandise stores following a sluggish Christmas season. Best Products, another catalog merchandiser that opened recently at Okeechobee Boulevard and Military Trail, recently discontinued accepting credit cards and now takes only cash or checks. A recent Gallup poll conducted for the U.S.

Chamber of Commerce showed more than 70 percent of the respondents think the average prime interest rate during 1981 will be the same or higher than the 15-percent average of 1980. Nealy 75 percent said this was a bad time to purchase a home; 49 percent said it was a bad time to purchase a major household item and 57 percent said it was a bad time to buy a car. Nutrition Control, a New Jersey-based weight-loss firm, will open Tuesday its first Thin Life Center in the Groundbreaking was held yesterday for a J2-milliori facility which will house WPEC-TV (Channel 12) and executive offices of the parent firm, Photo Electronics Corp. (PEC) in Mangonia Park. The building should be completed by the end of the year, PEC owner Alex Dreyfoos Jr.

said. "When we bought the station (1974), we literally squeezed it into our existing facility. Eight years ago we had 50 employees and now we have more than 200." The addition, designed by architects Peacock 4 Lewis, will be constructed adjacent to the present building on the 20-acne site along Australian Avenue north of 45th Street. Butler Construction is the general contractor. About 100 persons, including business and political leaders, attended the brief ceremony, made briefer by mist turning to rain.

Dreyfoos also introduced WPEC-TV's new general manager, Bob Wiegand, former general manager of WKRC-TV, a Taft Broadcasting station In Cincinnati. First National Bank in Palm Beach is branching Embassy Square building at 2247 Palm Beach Lakes Blvd. Clients do not take pills, shots or prepackaged food supplements, said Sharon Edelman, franchise co-director. "We offer personalized attention and emotional support from day one." Southeast Mortgage Co. has arranged a $2-million mortgage issued by Life of Georgia in Atlanta for a warehouse complex on Holland Drive in Boca Raton.

Tiken Corp. will operate the three structures, each of which has 32 bays and total square footage of 118,800 at the 6.8-acre site. The Kentucky Fried Chicken based in Louisville, has bought back for an undisclosed sum its 38 franchises KFC of Florida, which operates 229 restaurants in the state, including several in Palm Beach County. The late Colonel Harland Sanders, KFC's founder, had sold KFC franchising rights in Florida to his daughter in 1958 and Harland Adams, the colonel's grandson, had been chairman of the Florida firm until the sale yesterday. into West Palm Beach with the opening Feb.

23 of an office at 5400 S. Dixie, a former Winn-Dixie store. The office will offer full-service banking, according to Thomas Keresy, bank president. Manager will be Leroy Roberts. Jewelcor, the catalog-merchandise store at 840 Southern Blvd.

in West Palm Beach, is closing, but rumors are circulating that United Bescar, 1195 S. Con- 83 Called Unrealistic Balanced Budget Hopes Fade Florida Contractor To Head OSHA budget by 1983, Weidenbaum said, "I suppose you could conjure up a scenario," but it would depend on the state of the economy and how deeply Congress cuts into federal programs. Weidenbaum declined to say if Reagan, in his State of the Union message to Congress next week, might officially postpone his target date for eliminating budget deficits. Weidenbaum's assessment marked the second time this week the administration appeared to be backing away from bullish predictions about how Reagan's upcoming package of budget and tax cuts would revitalize the economy. Reagan said last night he still hopes the budget can be balanced by 1983, but "we're sure to get it by '84." After a dinner with Vice President and Mrs.

George Bush, Reagan was asked what he thought of as a realistic date for balancing the budget. "We're taking a shot at 1983 we hope," Reagan replied. Reminded of Weidenbaum's statement, he added, "Well, if we try for '83, we're sure to get it by '84." An earlier, more optimistic outlook prepared for the administration last week predicted inflation would fall to 6 percent and the economy would grow by 7 percent next year. The administration, faced with a 1981 budget deficit expected to top $55 billion, is completing work on a package of spending cuts that budget director David A. Stockman says will total about $50 billion in fiscal 1982.

Post Wirt Strvicti WASHINGTON Despite President Reagan's plans for sweeping cuts in federal spending, the administration is expressing little hope Redgan can fulfill his promise to balance the budget by 1983, sources said yesterday. The sources, who did not want to be identified, said administration economists are indicating 1984 probably is the earliest the budget can be balanced. One congressional economist briefed by the administration said of a balanced budget in 1983, "I don't think that's realistic at this time." Murray L. Weidenbaum, named chairman of the White House Council of Economic Advisers, said it is his "personal hope" that the administration can produce a balanced budget by 1984. Asked about the prospect of balancing the almost certainly will undergo changes during the Reagan administration.

Criticized for years for overzealous enforcement of safety and health laws and regulations, OSHA is probably the number one target of owners of small and medium sized independent businesses. In addition to efforts to limit OSHA's power to make unannounced inspections and to levy fines for violations, Auchter is expected to make agency administrative changes. Post Wirt Strvicu WASHINGTON President Reagan has nominated Jacksonville contractor Thorne Auchter to head the Occupational Safety and Health Administration (OSHA). Auchter, 35, is the first Floridi-an formally named by Reagan to a top administration position. His formal title will be assistant secretary of labor for occupational safety and health.

He will oversee an agency that Economist Doubtful Doldrums Will Lift Dollar Turns in Excellent Performance View Wednesday. Gold rallied some in New York to close at $496 an ounce but was still down $4 on the day. The Comex settled gold at $495.80 an ounce compared with $498.50. Silver fell to $12.65 an ounce from $13.15 and it settled at an ounce compared with The U.S. dollar rose yesterday to its highest levels on European money markets since the late 1970s, topping the 5-franc level in Paris for the first time since 1976 and hitting another record in Milan.

Gold fell sharply, closing at $490.50 an ounce in Zurich for a $10 loss on the day and at $486.50 in London, down from $500.50 cent to 15 percent this year, wage increases totaling about 10 percent in 1981 and interest Tates exceeding the record 21.5 percent later this year. President Reagan's "policy solutions are likely to be imperfect and inadequate to meet the challenges," Kaufman said. Inventory Drop Good News for Economy by Pat Hayes Kincaid Broker-Salesman COMMERCIAL DIVISION The optimum holding period in es--tate building ranges from a low of two years to a high of "until death do us part," depending upon the objective, the method of depre-ciatiion used and the tax bracket of the investor. There are several steps to consider, and only a thorough analysis of you and your property will place things in perspective so that you can decide which step, if any, you feel may be wise to take. If you wish to call me for an appointment, we can arrange to study your overall position and objectives, and from the knowledge gained you can make an intelligent, meaningful decision.

OUT OF PAWN Q. Thirteen years ago, my wife and I purchased an 8 unit apartment building. We assumed a twenty year loan and figured we would have it paid off in full by the time I retire, which is about 7 years from now. My accountant tells me I am out of depreciation and that I should consider releveraging myself to achieve greater benefits. We kind of like these units, but would appreciate your opinion as to the best course of action.

A. Apparently you are the victim of a common mistake among many real estate investors. Some investors think of ownership as permanent and tend to "marry" their property. WASHINGTON The inventory stockpile held by U.S. business fell slightly in December, its first decline in five years, the Commerce Department reported yesterday.

The report was seen as more good news for the nation's econo my. December's .2 percent drop in inventories held by manufacturers, wholesalers and retailers after adjusting for seasonal variations was coupled with an increase of less than 1 percent in total siles, the report said. Post Win Services TALLAHASSEE The chief economist for one of the nation's top investment-banking firms painted a gloomy financial picture yesterday of unabated high inflation and high interest rates for this year. Henry Kaufman, chief economist of New York-based Salomon Brothers, said the country won't experience a dramatic emergence from its economic doldrums in 1981. But he said the nation won't suffer the "second-dip" recession that has been widely predicted.

He was cautious in discussing the economic plan being devised by the Reagan administration. But, in any case, he said the economy wouldn't begin to respond to the Reagan formula until late 1981 at the earliest. He said the 1982 fiscal year beginning Oct. 1 would be the first time the Reagan prescription could be adopted in total. "I have concluded we will be in a garrison economy in 1981 and it will be difficult to lift the siege this year," Kaufman said.

"The siege is too severe and the solutions proposed by the new administration too complicated and too uncertain." Kaufman's short-term forecast included: a sluggish 1.5 percent real GNP growth in 1981 over last year, consumer price increases of 13 per MERCHANDISE FOR LESS USE OUR LAY AWAY PLANS SAVE SAVE NAME BRAND TYPEWRITERS. ADDING MACHINES CALCULATORS PORTABLE SEWING MACHINES Computers Lead Drop In Slower Trading REALTOR (( CHECKWRITERS ETC. Y) )) MANY OTHER ITEMS It ttj507J5t 655-8600 655-7757 Feb 12, 1981 Stock Market Report VOL 34.70 million LAKEFRONT LIVING FROM $69,900 462 I 1 403 EZ3 INCOME TAX FORMS PREPARED AT YOUR HOME BY APPOINTMENT. CALL 968-3308. OVER 25 YRS.

EXPERIENCE. NYSE -0. ASE DOW .5.89 NEW YORK Several computer issues fell sharply yesterday in response to adverse earnings developments as the market registered its third decline in the last four sessions. With gold bullion selling again below $500 an ounce, precious-metal stocks continued to retreat on Wall Street. Weakness also appeared in oil-service, transportation, gas transmission and high-technology issues.

The Dow Jones industrial average dropped 5.89 points, to 936.60. For the second day in a row, declining issues outnumbered advancing stocks 2-1. The market has been marking time nervously for the last several sessions as it awaits details of President Reagan's economic program due next week. Trading volume, continuing at relatively modest levels, contracted to 34.7 million shares from Wednesday's 37.8 million. The low turnover was attributed to the semi-holiday atmosphere, inasmuch as many banks in New York City were closed yesterday in observance of Lincoln's Birthday.

Moreover, because stock exchanges will be closed Monday to 2- and 3-bedroom condominium apartments in an 18-acre waterfront resort community overlooking Lake Osborne. For Information Call: HENRY D. BOGATIN AND ASSOC. 968-0390 or 964-2600 2800 Lantana Road INSURANCE AGENCY WANTED 684-0355 Lantana.Fla. 33462 Model Open 1 0 a m.

to 5 p.m. celebrate Washington's Birthday, analysts said today's turnover probably will remain light with numerous brokers and their clients on an extended weekend. Computer Sciences, the volume leader, fell 1W, to 16V4. The company said it expects profits in the second half to trail earnings in the first half. Centronics Data Computer, dropping 3, to 16, reported late Wednesday a for its latest quarter.

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