Reno Gazette-Journal from Reno, Nevada • Page 18

Today's tip tasmes Learn how to protect your home with a tree copy of the booklet "Bless This House: A Home Security Audit." Write Aetna Life Casualty, P.O. Box 104, Hartford, Conn. 06101-5260. 8B Thursday. August 2, 1990 Reno Gazette-Journal BUSINESS EDITOR: ALLAN K.

RISDON, 788-6322 Hilton's 2,000 room hotel brings pink glitz to Laughlin family. Work on the hotel began two years ago. The governor said the success of the Hilton corporation pales when compared to the growth of Laughlin itself. He said the opening "further underscores the tremendous growth and prosperity that the city of Laughlin has experienced." "In a state known for its marriages, the joining of the Flamingo Hilton and the city of Laughlin promises to be a match made in heaven," the governor said. "Both futures look extremely bright." The Laughlin property brings to 9,300 the number of hotel rooms Hilton operates in Nevada, including Flamingo Hiltons in Las Vegas and Reno, and the Las Vegas Hilton.

pushing the area's hotel inventory to 7,500 rooms. The Hilton is the latest of several major hotel chains to move into the resort town 90 miles southeast of Las Vegas. Gov. Bob Miller was on hand with hotel executives and local officials to open the resort as workers unleashed a torrent of pink, white and black balloons. Miller said the opening of the Hilton property signals the continuing prosperity of a longtime member of Nevada's business community, the Hilton corporation.

Hilton said the 20-acre site, next to Don Laughlin's Riverside Resort, was the only parcel of land he wanted in Laughlin. He checked out the property years ago, then bought it from Las Vegan Jack Binion, a member of a pioneer Nevada gaming Economic woes drop stock prices 5.94 NEW YORK Worries about economic growth in general and the banking industry in particular combined to push stock prices lower in an erratic session Wednesday. The Dow Jones average of 30 industrials slipped 5.94 to 2,899.26. Declining Issues outnumbered advances by about 7 to 6 in nationwide trading of New York Stock Exchange-listed stocks, with 733 up, 777 down and 524 unchanged. Volume on the floor of the Big Board came to 176.81 million shares, against 173.81 million in the previous session.

Nationwide, consolidated volume in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 216.03 million shares. Dollar, gold close higher NEW YORK The dollar regained some ground in foreign exchange Wednesday, but traders warned that the U.S. currency remained weak. Gold prices also moved higher. Analysts said the dollar's advance appeared to be a technical correction as traders took profits on foreign currencies.

The dollar recovered some ground against the British pound Wednesday. In earlier London trading, one British pound cost $1.8550, down from $1.8595 late Tuesday. Other late dollar rates in New York, compared with late Tuesday's prices, included 1.58885 West German marks, up from 1.58555. LAUGHLIN (AP) Hilton Hotel Corp. became the latest player in this booming gaming resort town Wednesday, opening a $190 million hotel in a glitzy ceremony a short distance from where the town was founded.

Hilton chairman Barron Hilton said he was pleased to finally be in Laughlin, praising the Colorado River town's relaxed atmosphere. "There's a relaxed feeling of people in general here," he said. Thousands of people were on hand, many drawn by the promise that the first pull on each of the resort's 1,500 slot machines was free. Employees had fed money into each of the machines so the first pull would be on the house. MI JO The Hilton's twin 18-story towers, made of copper and pink glass, have changed the ap- Eearance of Casino rive, Laughlin's answer to the Las Vegas Strip.

The new Hilton is near the site where town founder Don Laughlin bought a tiny bar with 12 slot machines in 1966. Hilton picturing the wide spot in the Colorado River as a nice, quiet getaway. Ironically, Don Laughlin celebrates his 24th anniversary here Thursday. Today Laughlin is the fastest-growing gaming area in Nevada, with the Hilton (3 1 of directors. The board said it regretfully accepted the resignation, which was effective immediately, "in respect for his wishes and out of the respect and love he has for the Board of Trade." The board said it had elected CBOT Vice Chairman William F.

O'Connor to serve the remainder of Mahlmann's one-year term, which ends Dec. 31. Earlier Wednesday, Mahlmann announced his resignation as head of Stotler Group a beleaguered commodities Stempel said. "We're not taking General Motors apart and putting it back together again." Stempel also said the company planned to boost its market share, but only if it can do so profitably. "The '90s will be a time of adapting and building what we have in place," Stempel said.

Stempel, who joined GM 32 years ago in the Oldsmobile Division's chassis design department, is the first engineer to become chairman in GM's 82-year history. His ascension to the company's top post is widely hailed by industry observers, who said the huge automaker's product development programs had been unnecessarily put on a back burner. During Smith's 9 'A -year tenure as chairman, GM balance sheet moved from a $333.4 million loss in 1981 to a $4.2 billion profit last year. apes sale deal delayed 3 I 1 Joe GosenQazetle Journal chairman, resigns firm that operates a subsidiary accused of violating the Commodity Exchange Act. Mahlmann stressed in that announcement his "non-involvement in the day-today affairs" of Stotler Group and its affiliates.

"I have had no day-to-day management responsibilities since early 1988, and my position at Stotler was constantly eroded," Mahlmann said. "I simply was not a party to the financial decisions which are now being scrutinized by the exchange and the regulators." LABOR DISPUTE: Western Union employees Judi Jenson, next week. Unionized Western Union employees are voting left, and Anne Hassell participate in an informational picket in Reno and across the nation on whether to walk out if Wednesday outside the downtown Reno Holiday Inn, where contract talks between the company and the United Tele-replacement workers were being trained for a possible strike graph WorkersCWA collapse. The contract expires Monday. Analysts fear mild recession later this year WASHINGTON (AP) The government's main economic forecasting gauge failed to budge in June, the Commerce Department said Wednesday in a report analysts said portended a listless economy in the months ahead.

The department's Index of Leading Economic Indicators, designed to forecast economic activity six to nine months in advance, was unchanged for the second month this year. It had risen in March and May and fallen in February and April. Many economists had expected a small increase in June. If the index were to fall for three straight months, it could signal a forthcoming recession. "This meandering is consistent with what is happening in the economy," said economist Darryl Delano of Cahners Economics in Newton, "It all nets out to basically nothing." David Berson, chief economist with the Federal National Mortgage Association, agreed.

"Basically, what we've seen over this year is small increases, small decreases, with everything averaging around zero," Berson said. "The economy is going to continue in its slow-growth path." But other analysts such as David Jones, an economist with the New York securities dealer Aubrey G. Lanston expressed deeper concern. "What we have got is an economy that is slowly sinking into possibly a mild recession by either late this year or early next," Jones said. The Bush administration predicted earlier this month the nation's economy would grow 2 percent this year.

But the growth rate as measured by the gross national product was just 1.7 percent in the first quarter and 1.2 percent in the second, meaning the economy would have to expand at an annual rate of 2.9 percent during the second half of the year to meet the administration's prediction. Few economists expect that amount of growth. Indeed, the National Association of Purchasing Management released its latest survey on Wednesday showing the manufacturing economy slumped in July for the first time in three months. And the Commerce Department, in another report Wednesday, said construction See ECONOMIC, page 53 member road team, he spends several days each mpnth talking to public and industry adiwlces about road safety and othertesuCKji MjeMhfrlate 1970s and early '8oTsucti; W'Smokey and the Bandit," brought Jots of attention to the trucking depiction of truckers as renegades has "gone against us. It's not a picture of the truckers who are out there on the road trying to make a living." And motorists who encounter truck drivers on the road remember only the ones who are discourteous or dangerous, he told the students.

Driving a truck is a highly skilled, trained professional career, "but we must first respect See TRUCKERS, page 5B Mahlmann, Chicago Board of Trade CHICAGO (AP) Karsten Mahlmann resigned Wednesday as chairman of the Chicago Board of Trade, the world's largest commodity futures exchange, amid charges of wrongdoing at the trading company he headed. Mahlmann, who is midway through an unprecedented fourth term as the CBOT's chief, said he was stepping down "in the overwhelming interest of the Board of Trade and because of my deep love and respect for the institution," according to a statement issued by the exchange's board Gold rose in New York, closing at $373.30 a troy ounce, up $3.30 from late Tuesday. Silver picked up 3.5 cents to close at $4,822 on the Commodity Exchange. Silver traded in London at a bid of $4.82 a troy ounce, up 3 cents from late Tuesday. Correction Western Union trains possible replacement workers in the event the company's union workforce goes on strike.

Temporary employment agencies only recruit and test the replacements. People Williamson Hickok MIKE WILLIAMSON and RORY HICKOK have joined the marketing division of Stewart Title of Northern Nevada. Williamson will manage the department. He has been in the real estate industry since 1983. Williamson comes to Stewart from Western Title Company.

Hickok returns to northern Nevada after seven years with the Los Angeles-based Dolphin Group, a political consulting and public relations firm. Hickok is a graduate of the University of California, Davis. Stewart Title of Northern Nevada has offices in Reno, Battle Mountain, Carson City, Elko, Incline Village, Minden and Zephyr Cove. JOHN CARTER was recently appointed general manager of Take 'N Bake Pizza. As general manager he will oversee the daily operations of four stores in the RenoSparks area.

A graduate of the University Carter of Nevada, Reno, Carter spent several years with Wyndham Hotels in Dallas, Houston and the Bahamas in food, beverage and catering. After returning to Reno, Carter was the director of catering and convention services at the Peppermill Hotel Casino and later the director of catering at John Ascuaga's Nugget. NORMAN P. BECKER was recently appointed vice president of sales for Blue Cross and Blue Shield of Nevada. His duties include supervision of all sales activities for Blue Cross and Blue Shield of Nevada's health, dental Becker 1 wnn Jf New GM chief makes swift changes Safety team reworks truckers' image DETROIT (AP) Robert Stempel took over as chairman of General Motors Corp.

on Wednesday and quickly announced management changes aimed at improving vehicles and sales at the nation's largest automaker. Stempel met with the media less than 12 hours after he officially succeeded Roger Smith as chairman and chief executive officer. Wasting no time, he unveiled an altered GM organizational chart he says cuts levels of upper-level management and turns responsibilities such as advertising and marketing decisions to the company's eight car and truck operations. Some of the changes outlined involve more direct reporting of vehicle or component operations to team members than existed during Smith's tenure. "These are not major changes, but they're indicative of where we're going," ANN UAL VteXTINk "Under new business, I'd like to announce that my wife is having a garage sale next Saturday bargains galore, 9 a.m.

to 5 p.m." In jj pj- 8-A By Susan SkorupaGazette-Journal A shortage of professional drivers and a public image that depicts truckers as lawless renegades has put a dent in the trucking industry, a member of a top highway safety team said in Sparks Wednesday. It's up to a new generation of lparnintr trurkine as a Drof'TSlOi hfln turn around nublic imDrf Vibnsahi to make truck driving a saVfore desirable career, said Jim Wilcox of the American Trucking Association's America's Road Team, part of the specialized highway safety program. Wilcox spoke to students at Western Truck Driving School. As a professional driver for Yellow System Duran-go, office and part of the 10- Computer slump hits hard BOSTON The computer industry's shift away from mid-sized machines to more powerful and popular small machines has led to dismal financial reports from regionally based computer companies and cost thousands of jobs, analysts say. Nationally, computer sales have been in a slump, and the downturn has particularly damaged sales of companies that make mid-size computers.

Massachusetts has suffered heavily from the new industry trends, especially several large manufacturers that focused on mid-size computers. Each company has tried to make adjustments, but overall, Massachusetts has lost more than 23,000 high-tech manufacturing jobs since May 1988, according to state figures. As of May 1990, there were 215,300 high-tech jobs. IBM forming new company NEW YORK Acting to free resources to focus on its main high-technology businesses, IBM on Wednesday announced it will place its typewriter, keyboard and certain printer operations into a new company in which it will retain a minority interest. A firm specializing in buyouts, Clayton Dubilier will acquire the majority stake in the new firm.

Executives of International Business Machines Corp. and Clayton Dubilier said in interviews that negotiations on a final agreement are expected to conclude by the end of the year. Until then, they said, no information will be disclosed on how much Clayton Dubilier will pay IBM. Industry analysts have estimated that' the businesses would be worth $2.5 billion to $3 billion. i Final closing on the sale of the Mapes Hotel-Casino in downtown Reno has been delayed up to one week due to a minor paperwork problem, the new owner said Wednesday.

Texas developer Hollis W. Walker said several weeks ago the closing date would be July 30. Because of the delay, Walker wasn't able to file applications with Reno city planners by 3 p.m. Wednesday as he had originally scheduled. Thus, he will not be able to appear before the Reno City Planning Commission until at least October instead of September as originally planned.

However, Walker said, the delay should not stall plans to remodel and reopen the 12-story hotel by late next summer. No sales price has been announced. and life products. Previously, Becker served two years as director of sales and six years as manager of sales for Rocky Mountain Life Insurance Company, affiliated with Blue Cross and Blue Shield of Nevada, located in Denver. Becker is a Chartered Life Underwriter and has worked in the insurance industry for 14 years.

He attended the University of Oregon and the University of Colorado at Denver. Staff and wire reports.