Asbury Park Press from Asbury Park, New Jersey • Page 26

ASBURY PARK PRESS PAGE C3 WEDNESDAY, OCT. 9, 1996 Work McDonald's taps new U.S. boss; analysts tie move to falling sales Cut Your Loan Payment On-the-Spot! i think maybe in (Chairman Michael) Quinlan's mind it's taken a little too long for McDonald's to get around to responding to the decline in sales, Wayne Daniels INDUSTRY ANALYST has been the dismal failure that others believe," said analyst Janice Meyer at Prudential Securities Research. "I think it is basically meeting expectations, but other parts of the business have weakened more than expectations. "The kids business has been weakened by Burger King, and their core hamburger customers have been chipped away by some of Wendy's new sandwiches," she said.

Rensi recently told the company's 2,700 U.S. franchisees in a memo that Arch Deluxe has done well but was "never intended to be a silver bullet." But some company officials and frustrated franchisees might have been hoping it was. Sales at stores open at least a year have fallen for five consecutive quarters, while McDonald's two biggest competitors have seen strong increases. Burger King's brief alliance with the Walt Disney Co. for movie tie-ins also drew business away, analysts say.

McDonald's recently signed a long-term movie marketing deal with Disney. Rensi declined recently to discuss third-quarter expectations. Most analysts expect a continued decline in U.S. same-store sales when the company reports its earnings next week. THE ASSOCIATED PRESS CHICAGO McDonald's Corp.

yesterday named a new boss for its U.S. operations in a shakeup that analysts say signals dissatisfaction over sluggish sales at the nation's biggest fast-food restaurant chain, despite the introduction of its Arch Deluxe cheeseburgers. Jack Greenberg, the company's vice chairman and chief financial officer, becomes chairman of McDonald's domestic restaurants. Edward H. Rensi, McDonald's USA president and chief executive who previously headed U.S.

restaurants now reports to Greenberg. "(Greenberg will) help us maximize the growth of the U.S. business by adding the broad scope of his skills to our U.S. management team," Michael Quinlan, the company's chairman and chief executive said in a statement. Spokesman Chuck Ebeling denied the move signals less confidence in Rensi's stewardship.

"This simply realigns some of our key people to strengthen the U.S. team in obviously a highly competitive market place," he said. But some analysts said the move indicates Quinlan is unhappy that From page CI needed," said Jeffrey R. Schwartz, New Jersey's welfare coordinator for Essex County. Dave Kinley, project manager for National School Bus Service in West Orange, hired all five graduates of a recent class.

He said he has received nothing but dependable, well-trained employees from First Occupational, including Concepcion. "I think it's an excellent opportunity for these people to get into a productive career and hopefully break out of that system," Kinley said. "I think it's a great program, and I'd take everybody who goes through there." Just as the agency helps its clients become independent of government assistance, it is reducing its own reliance on public funds. Besides its three job placement programs, First Occupational trains people, including developmentally challenged clients, in groundskeeping, building services, packaging and recycling. It then provides those services on a contract basis to businesses and communities.

In 1984, 73 percent of its $1.5 million budget came from government sources. This year, 31 percent of its $11.1 million budget came from the government the rest from its contract services and private donations. Carol Wallace, 33, hopes her home health aide training will lead to a job as an X-ray technician and get her and her five children off the public assistance she's relied on for 14 years. "I'm going to have unbelievable pride and dignity about myself," she said. "More important than that is that my children respect me and that I give them an example of what is expected from them." McDonald's has seen a series of declines in domestic restaurants open at least a year.

"It's clear that they did want to put some new blood at the top of the domestic ranks," said Wayne Daniels at Schroder Wertheim. "I think maybe in Quinlan's mind it's taken a little too long for McDonald's to get around to responding to the decline in sales." The recently introduced line of Deluxe sandwiches, which took two years to come to market, has not immediately reversed the sales trend, analysts said. McDonald's earlier this year introduced the Arch Deluxe cheeseburger, and two weeks ago added the Crispy Chicken Deluxe, Grilled Chicken Deluxe and Fish Filet Deluxe to the line. "This doesn't mean the Deluxe line Lower financing of your Mon-Mon-Oc Loan Here's How Mon-Oc's 2nd Chance Challenge If you 're currently paying 14 elsewhere, we'll refinance it on-tfie-spot for 12! If you 're currently paying 20 elsewhere, we'll refinance it on-the-spot for 18! 0 Available only from Monday, October 7th, thru Friday, October 18th. 0 Only Non-Mon-Oc loans are eligible.

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JEFFREY A. MATTES, M.D., DIRECTOR Thrifts MEMORY LOSSALZHEIMER'S DISEASE RESEARCH STUDY Patients with memory loss thought to be due to Alzheimer's Disease, or "hardening of the may be eligible for a study of an investigational medication, propentofyl-line. The study, which may last up to one and a half years, involves psychiatric and neurological evaluations, memory tests, laboratory tests, EKGs, a CAT Scan, a chest x-ray, and study medication all FREE of charge. Travel costs will be reimbursed or transportation to Princeton will be provided. For information, call Carol at More likely to strike at GM Canada THE ASSOCIATED PRESS DETROIT About 4,600 more Canadian Auto Workers are expected to join the strike against General Motors of Canada yesterday, making further layoffs possible at GM plants on the U.S.

side of the border. Workers at plants in the Ontario cities of London, Windsor and Woodstock are scheduled to join the more than 20,000 GM employees already on strike. GM officials announced no further layoffs yesterday at U.S. plants and said in a statement: "We will not speculate on when or which plants could be affected." The company on Monday laid off 1,050 workers at a powertrain plant in Tonawanda, N.Y., and 800 workers at a transmission plant in Ypsilanti, because the parts they make for Canadian plants aren't needed. An industry newsletter, Ward's Automotive Reports, said Monday that 11 U.S.

and two Mexican assembly plants may have to close or reduce production because of the strike. Laid-off U.S. employees are eligible to receive 70 percent of their gross pay, provided they meet unemployment eligibility standards in their state, said GM spokesman Chuck Li-cari. He said eligible laid-off employees also continue to receive health care benefits. Talks between the CAW and GM Canada continued yesterday.

But officials reported no progress on the critical issue of outsourcing GM's proposal to give more work to outside contractors. 1996 1936 MON-OC FEDERAL CREDIT UNION A I I From page CI enough to shoulder much of the onetime $4.7 billion SAIF rescue payment. The FDIC oversees the separate deposit insurance funds for banks and Congress passed the SAIF rescue after hearing repeated warnings of a brewing crisis in the industry: a huge mismatch between the insurance rates charged to banks and thrifts. The bank insurance fund, which is at record strength, charges healthy commercial banks only a minimal maintenance fee, while the SAIF fee was 23 cents for each $100. To save money, were rapidly converting to commercial banks, thereby taking advantage of a huge savings for deposit insurance.

In the second quarter, thrifts with $2.5 billion in deposits jumped ship to become banks. If this mismatch between the and bank fees had persisted, regulators feared most healthy thrifts would convert to banks, leaving only a handful of marginal to pay into the SAIF. The Associated Press contributed to this story. Concurrent Independent Contractors to deliver the Asbury Park Press and other products early in the morning. 7 day a week delivery.

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it Mon-Oc reserves the right to withdraw or change this offer, rates and terms at any time without notice. iEN0ER p. From page CI has seen Concurrent Computer, a manufacturer of high-performance computers, go from being a major regional employer to a small operation. In June, Concurrent completed a merger with a competing company that led to the company's headquarters being relocated to Fort Lauderdale, Fla. Since then, the work force has gone from slightly more than 200 to between 40 and 50 manufacturing and engineering workers, said Dan Dun-leavy, the company's chief financial officer.

Of the other 150 to 160 workers, about 30 relocated to Concurrent's Fort Lauderdale headquarters and the rest were laid off, Dunleavy said. The work force at the site is responsible for manufacturing and servicing an older line of Concurrent computers that at least one analyst has predicted will be phased out by the company altogether within five years. Choices. for having a great plan. Life is truly what you and your family make of it.

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