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Reno Gazette-Journal from Reno, Nevada • Page 19

Location:
Reno, Nevada
Issue Date:
Page:
19
Extracted Article Text (OCR)

i J- Reno Gazette-Journal Thursday, May 30, 1991 5B Reebok flies high with 'The Pump' 850 550 Prime rate: Discount rate: Bankers Acceptance: 30 to 59 days Commercial paper (range): Dealer 30 to 180 days Issuers 30-270 days Certificates of deposit Sle CIom Chg 40 800 2t 376.000 8'4 It 331,000 36 1, 305.300 12 1 295 800 145. Vi 276,700 10 14 259,300 94 vt 245.700 16 236.200 264. I 14 219.500 1614 14 AmpalAI EchoBay PallCps JanBell FrurtLoom AmTr-dd sc TubosMex MetrMWB BergenBrun Amdahl 5 82-5 85 565-5 72 Div Clou Chg Flntll 3 00 39'. GnMott 160 424 2 GldNug 26't 1 PacTsT 2 14 39Vi Penney 2 64 67Ui 4t SFePCn 9' it SecPac 1 52 25H .14 Showbt 10 8Vi WebbD 15 1241 FIWFn 5 HrdgAt 11 Marcor 3Ui UGamg 2'4 -n Last Chg Pet. 1 StdPacLP 10H 1Vj Up 16 7 2 CF Income lis 14 Up 154 3 Manvilewt lit 14 Up 15 4 4 NtMedia 2 14 Up 14 3 5 Chaus 3' Up 13 6 6 SuaveShoe 64 44 Up 12 8 7 FdHolys 144 Its Up 12 5 8 Munsingwr 1v Up 12 5 9 NavstrwtA 1'A Vt Up 12 5 10 TetecomCp IV Vs Up 12 5 11 vEaglePch 2V.

14 Up 12 5 12 AmSvBkNY 1'4 Vt Up 111 13 CanalCappf IV. Up 111 14 Northgateg 1 Vs Up 111 15 Holellnv 1 I VS Up 10 0 16 MDCCorp 14 Vt Up 10 0 17 vLTVCp 14 Vt Up 10 0 18 SpartonCp 5 Vi Up 9 5 19 GHousewar 17 1VS Up93 5 46 565 "Kids get it into their heads that there 's shoes they just ha ve to have." John Horan Sporting Goods Intelligence 30 to 59 days U.S Treasury Bills: 3-month 6-month Money Market Fund Merrill Lynch Ready Assets: 30-day average yield Foreign currency in dollars Sales Clot Chg GenUotors 4,465.800 424 2 FordMolor 3.020,300 35! 4 114 PepsiCo 2.339 500 32' Vt CptrAsc 2.214.000 9 Vt AmExpr 2.110,900 25' V4 PhilMor 2,042,300 68'i Citicorp 1.835.100 16 -44 1,760,200 36 BankAmer 1,756.400 39 1 IBM 1.652,200 IMVt 1 Chrysler 1.646.500 14Vi 4 RJRNaDn 1,586,100 11'4 IntlPaper 1,465.700 6714 duPont 1.398,800 46H til Limited 1.372,300 28 i Vt ALUMINUM: primary. 99 5 percent plus pure 50 lb. ingots 56 7 lb ANTIMONY: domestic, refined in allov lb. COPPER: electrolytic, delivered 1 1290-1 1230c lb LEAD: common.

U.S. primary producers 31c lb MERCURY: llask ZINC: prime western. U.S. 5550 lb Wed Tues. Australian dollar 7605 7585 British pound 1 7270 1 7472 Canadian dollar 8719 8704 Danish krone 1538 1527 French franc 1737 1737 German mark 5834 5900 Italian lira .000793 .000766 Japense yen .007246 .007270 Mexican peso 000333 000333 Spanish peseta .009443 .009443 Swiss franc .6840 .6929 By Jonathan Yenkin ASSOCIATED PRESS BOSTON The opportunity was a basic one in the shoe industry: design a mass-marketed product giving buyers both status and the feel of a custom fit.

Reebok International Ltd. responded with The Pump, and in just 1 8 months the company has sold more than 4 million pairs of the high-priced, inflate-to-fit shoes. That sales figure would make the brand alone one of the largest athletic shoe companies in the United States. Reebok, based in Stoughton, introduced The Pump in November 1 989, featuring chambers inflated by pressing a spot on the tongue of the shoe. The company now uses the technology in shoes for 30 activities, from basketball to aerobics to golf.

Observers praise the technology, but say many customers, particularly teen-agers, have been won over by the shoe's fashionable image, despite or maybe because of suggested retail prices of S85 to 1 30. "It's a cool shoe to have," said Elizabeth Armstrong, a consumer analyst with Forstmann-Leff Associates Inc. in New York. "A lot of the things that sell sneakers are bells and whistles. The features catch people's fancies." Michael Murdoch, manager of an Athlete's Foot store in downtown Boston, said many customers don't seem to care about The Pump's technological features.

1 1 Last Chg Pet 2 SaatchiSat 1 Off 1 1 1 3 EmerRad 2' 14 Off 10 5 4 vLomNFn 1Vt 14 Oft 10 0 5 PrimeMtrLP lit Vi Off 91 6 vCarterHaw 114 vt Off 9 1 7 vHillsDpt 14 Vt 08 3 8 PatrieComun 3 14 Otf7 7 9 viLTVpfB tVi vt 01)7 7 10 OrionPict 44 44 Off 7 5 11 CrossklSvpfB 314 14 Off 7 1 12 DelVal 1H vt Oft 7 1 13 Wean Unit 1 Vt Oft 7 1 14 StokeVCpr 11Vi Off 7 1 15 Datapomt 1 14 Off 6 7 16 Winomere 3Vi 14 0116 7 17 Jamesway 3 Off 6 5 18 JamesRivr 23 1H Off 6 4 19 MartnLaw 1't vs Off fi 3 "They don't want to hear the reasons why it's good for the foot," Murdoch said. "All they're interested in is, 'It's The Pump. Give it to By contrast, Murdoch said customers seeking high performance more often choose shoes made by Nike Inc. the nation's top selling brand. Nike last year captured 28 percent of the $5.5 billion branded athletic footwear market in the United States, according to Sporting Goods Intelligence, an industry newsletter.

Reebok had a 20.7 percent share. According to Reebok, retail sales for The Pump have surpassed S500 million since its introduction. Overall, the Reebok brand represented SI. 17 billion worth of sales in the United States in the company's last fiscal year. Reebok Chairman Paul Fireman has credited The Pump with giving a kick to the company's sales, which rose 1 8 percent last year.

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operate the Dunes, acknowledging to the Nevada Gaming Commission in April that he couldn't get bank financing for the project. The Dunes laid off between 125 and 150 employees on Tuesday, citing a projected slow summer season. Spokesman Don Hinkle said occupancy rates in May were down from the same period a year ago and are projected to be down for the remainder of the summer. The Dunes laid off about 200 employees in January because of the recession and the Persian Gulf ar. but Hinkle said the majority of those workers were eventually called back.

Hinkle said the casino will try a variety of strategies to improve summer occupancy rates, including more promotion of room packages, lowering room rates and marketing slot areas. Nangaku had already undergone extensive questioning from state gaming authorities at several meetings before finally getting his permanent state gaming license last month. Commissioner Don Schlesigner cast the only vote against licensing, saying he had concerns about the financial status of the troubled Dunes. Nangaku's attorney. George Dickerson.

and top management of the Dunes appeared before the commission and said the resort remains Nangaku's top priority. Nangaku earlier this month offered to abandon his Minami Tower project in downtown Las Vegas and turn the land over to the city, which would give it to the county to build a county office complex. Nangaku has also been looking for a partner to help renovate and CnipsTc 22 13 24 13 29 6 9'i 5 i 1-16 7'i 20 5 3 8 'i 6 16 Vt 8- 76 Vi 02 27 Vt 02 25 Vt 64 22 36 27 2 a 29' 7 27 ll'i 5 Cniron Cifritlex 36 14 23'. 05 22 108 49' i 18'1 50 17 i 16 I I9'i I 96 24'. 6V.

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Akers' message, as reported by Henderson: "(Akers) hopes full employment will stay, but (IBM) will need tools (and) focus to get the poor performance out now Industry anahsts suggest that Akers' willingness to openly criticize employees and the company's candor in admitting the leak of internal information indicate times are changing at the company. "I think it's a very positive sign, particularly for employees within IBM many of whom see the competitive environment ecr day and know they hasc to respond." said Frank Gens, vice president of Technology Inest-ment Strategies Corp. in Framing-ham. Mass. "What the top executives say and the field force does are sometimes completely different things.

"Part of what this Akers thing does is (provide) a cathartic at tempt to get the IBM corporate culture moving, which is not an easy event." Gens and other industry watchers say short-term improvements by IBN1 last year may have been mistaken for long-term strategic changes. The optimism, which was prevalent at the company until earlv this year, was further fueled bv Akers' upbeat assessment of IBM's 1990 performance. "I think it's fair to say that Akers and IBM's investor relations staff unduly built up the company, adding to the euphoria." said Bob Djurdjevic. president of Annex Research in Phoenix. "I like what he said (to employees).

I just wish he would have said it earlier." Akers' words also have apparently led to some counter-charges by employees that Akers should shoulder more of the blame, but whether the incident will hurt company morale is still uncertain. 20 29 8 5 e2 1-16 'i 0 12 2 9i 2 13-16-3-16 221 1 -1 7 From page 6B managers to hold fewer meetings and to hold them at company sites whenever possible. The company is urging managers to identify possible candidates for IBM's voluntary employee reduction program the first time the company has actively encouraged employees to accept financial incentives to leave IBM. According to Henderson's account. Akers also was critical of the company's operations in many parts of the world including the United States and Japan.

Akers also apparently was surprised by the magnitude of IBM's first-quarter decline, when profits were off 50 percent from the same period in 190. He also stopped just short of saying that IBM's no-layoff practice was in danger and added that 3' 22. 13 10i 40 28 27 1 30 2 8'j 3 50e 21 1 10 23 52 13' i 66 i 6 12V '4 i Vi 1 32 191 Vi 6'j 81. 1 '4 1-32 10' '4 131. Vj 14 24 12 i 23 32 1 9 2 46 47'4 Vt 1 16 26'i 28 2 6' 06e 8'i- 2 00e 25 Legem LeisCn LesPo' LteTch L'ecore LteineS Ltttv A L.nB'd LmdiH Lmea'T Liposm Loewen LoneStr Lotus Lutein Lunar L'dt-i OChany OESI Ot Corp Oshap OWOH OccuUr Oceaner Ode! OtcDpi CftsLog Ot-'oCa O'dKnl ODCP Oncogn OoticC Optic Onto Ootic Oracxe CoSci OregMI 0f15v OsnBA Osmncs jffcn-r 1 1 1 5 I 10 1 1 40 23' 1 04 31' 30 16 52 24 24 47'4 60 53 12 96 31 6 13' 42 8 2 7-16-1-16 14'.

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--ie 4 25 46 -1 4 '4 1 Elsmor wrsraei AmList AM7eA TcE" TtCo Totoft To.Faf3 Tca-xi Tonight is the night for the Paycheck Poker $1,000 drawing! Hourly prize drawings, sl hot dogs, shrimp cocktails. s1.000 prize drawing held 8 pm, Center Stage Cabaret. Live radio remote 3-6 pm. Be here! Paycheck Poker Celebration, this Thursday, noon to midnight. 40 22 2H 36 39 1 25 23 H.

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1876-2024