Reno Gazette-Journal from Reno, Nevada • Page 28

Today's tip For "Automatic Transmission Repair," a guide to avoiding ripoffs and shopping tor reasonably priced repairs, send 50 cents to Consumer Information Center, Pueblo, Colo. 81009. 10B Friday, June 10, 1988 Reno Gazette-Journal BUSINESS EDITOR: JIM GOLD, 788 6322 usines fx Treatment center for troubled youth to open Ir 7 TV HCA last year sold 104 of its general care hospitals for $2.1 billion in a major corporate reorganization but kept its psychiatric facilities. Truckee Meadows administrator Neal Cury said HCA's 60 psychiatric hospitals are doing well and the corporation expects to add five to seven new psychiatric facilities a year for the next few years. "We expect to break even here after one full year," Cury said of Willow Springs, which will treat children ages 6 through 18.

In addition to substance abuse and general psychiatric problems, individual treatment plans are available for other problems including sexual abuse and eating disorders. The usual length of stay is four to six months, said publicist Brenda For-cade. Cost of treatment at Willow Springs, a spacious and bright facility decorated in mauve and cream hues, is $253 per day about half as much as an acute-care facility, Cury said, adding that financial assistance is available and most insurance companies will cover some of the cost. "If people need help, we'll try our best to help them with whatever is needed," he said. "If possible, we don't want money to be an issue." While Willow Springs is a residential treatment center, it is less restrictive than acute inpatient care programs offered at Truckee Meadows, Forcade said.

"We're filling a need for this area as well as regionally," she said. "There is a crying need for this type of care all over the nation." Willow Springs will serve patients locally as well as from Las Vegas, Sacramento and Fresno. According to a study on children's See CENTER, page 7B pidtyin ga By Lisa OvensGazette-Joumal A parcel of land vacant just a year ago at the corner of Rock Boulevard and Edison Way in Reno is now home to Nevada's only residential treatment center for troubled children and teens. Dedication ceremonies and a tour of HCA Willow Springs Center is scheduled for 2 p.m. Saturday.

Rep. Barbara Vucanovich, will be the guest speaker. Beginning Monday, Willow Springs will provide long-term psychiatric and substance abuse programs. Located at 690 Edison Way, the 64-bed, single-story building was constructed at a cost of $2.5 million by parent company Hospital Corporation of America, a publicly traded company based in Nashville, Tenn. It also owns Truckee Meadows Hospital on Ninth Street.

HCA stock closed Thursday at 36 up 1. Trad DEFENDS SAMURAI: Doug Mazza 7 Vi vl -2' 7 I I If 1 savings bonds U.S. savings bonds, for decades the bulwark of conservative and patriotic investors, have joined the age of telemarketing. Like the sellers of many other financial products, Uncle Sam now is peddling savings bonds by telephone and letting consumers pay for them with plastic. In its first month of phone sales, the U.S.

Treasury Department sold just under $1.4 million of savings bonds to 3,651 customers who charged the purchases on Visa or MasterCard. "We're looking for ways to expand the availability of savings bonds," said Treasury spokesman Stephen Meyerhardt. Treasury set up the 1-800-US BONDS number and launched the trial telemarketing program May 3. The first month sales were "a very small percentage" of total bond sales, which lately have topped $600 million a month, Meyerhardt said. The most common way to buy savings bonds is through payroll savings plans, or from a bank or savings and loan institution.

Dow flirts with 1988 high NEW YORK The stock market turned in an inconclusive showing Thursday, pausing to test the winds near its highest levels of the year. The Dow Jones average of 30 industrials, up 48.36 on Wednesday, slipped back 9.60 to 2,093.35. At midsession the average flirted with its 1988 closing high of 2,110.08, reached on April 12. Then it pulled back near the close. Advancing issues outnumbered declines by about 9 to 8 in nationwide trading of New York Stock Exchange-listed stocks, with 815 up, 720 down and 448 unchanged.

Volume on the floor of the Big Board came to 235.16 million shares, down from 310.03 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 264.80 million shares. Macmillan ruling delayed NEW YORK A state judge in Delaware has deferred until today a ruling on Texas investor Robert M. Bass's attempt to block a financial restructuring by Macmillan the publishing giant Bass offered to acquire for $1.9 billion. Jack B.

Jacobs, a judge in Chancery Court in Wilmington, presided over the eleventh-hour hearing Thursday, one day before Macmillan was scheduled to implement the first stage of its controversial restructuring the payment of a special dividend to shareholders. Bass sought a temporary restraining order to block the payout on grounds that the Macmillan board breached its fiduciary duty by failing to get the best price for its shareholders. Texas Air studies Eastern NEW YORK Texas Air Corp. Chairman Frank Lorenzo said the company is studying ways to restructure its troubled Eastern Airlines subsidiary but has no plans to sell the operation. He did not offer any specifics at the company's annual meeting Thursday of what changes might be in store for Eastern, which is saddled with bitter labor relations and recently passed a two-month government safety investigation.

People Russell-Roberts Mentzer PETER RUSSELL-ROBERTS, a sales representative with Kentucky Central Life Insurance Co. in Reno, has been honored for superior sales by being named a delegate to the company's recent Hawaii convention. Company sales leaders from all over the nation attended the gathering. TERESA MENTZER, an account agent with Allstate Insurance recently represented the NevadaArizonaNew Mexico region at the Business Insurance Conference in Chicago. The conference was an open forum discussion attended by the top agents in commercial insurance for Allstate.

Mentzer has attained the Conference of Champions, Life Millionaire and Honor Ring awards while with Allstate. Wire service and staff reports frs "'t ft ik says Consumers Union test results are "inaccurate and defamatory." Suzuki challenges Consumer Reports Jo GotenGazette-Journal SPRINGS: Neal Cury is administrator. Adjustments boost figure By Peter CoyAP The trade deficit is shrinking more slowly than previously reported, but the strength in exports is nevertheless prompting businesses to modernize and expand, the government said Thursday. The Commerce Department recalculated its trade statistics to account for seasonal patterns in shipments and found the deficits came out bigger. The March deficit was put at $11.9 billion, 22 percent higher than the previously reported $9.7 billion.

But in a separate report, the department said U.S. companies plan to increase their spending on plant and equipment this year by 11.9 percent over 1987, which would be the biggest increase in four years. The increased investment, found in a May survey, was partly the result of companies' gearing up to produce more goods for export and replace imports with products made at home. Meanwhile, Japan's trade surplus fell 21 percent to $5.05 billion in May, the 13th straight month the surplus has decreased from its level of a year earlier, the Finance Ministry said Thursday. Japan's trade surplus with the United States fell 25.6 percent to $3.30 billion from $4.44 billion in May 1987.

It was also down from $4.13 billion the previous month. The non-adjusted figure of $9.7 billion for the March trade gap, the best showing in three years, had been hailed by the Reagan administration as solid evidence that the country's trade problems had finally turned around. The administration said the new figures still showed an improving trend. "The trade deficit is on a downward trend, exports are increasing and it's a very encouraging picture in terms of the foreign trade deficit," said presidential spokesman Marlin Fitzwater in an assessment that was echoed by private economists. "There is no reason to be discouraged by the new figures," said Allen Sinai, See TRADE, page 7B NNB selects new chairman Nevada National Bancorp, has named a major stockholder, Robert w.

tarrau, cnairman of the board. Ft Mar the chief subsidiary. Nevada National Rank The state's third-largest bank, with $675 million in assets as of Dec. 31, 1987, is scheduled to merge with California-based Security Pacific Corp. Jan.

1, 1989, when Nevada law allows California bank-holding companies to purchase Nevada banks. Carrau. 56. Carrau acquired approximately 57 percent of the company's outstanding common stock in 1987 and granted Security Pacific an option to acquire his holdings after Jan. 1.

A resident of Orinda, Carrau is chairman and chief executive officer of Carrau Investment a real estate and venture capital investment firm. Carrau will not be involved in the bank's day-to-day operations, said Shelle K. Grim, corporate vice president and secretary. The bank also announced Thursday these directors were recently re-elected to NNB's board: Howard Foster, Dorothy S. Gallagher, William F.

Plein and James E. Rogers. Staff reports rosy fn wilffonta WSas fesidHlotfl WILLOW Associated Press Consumer Reports, called "Suzuki's charges "absurd." Marnie Goodman, the group's spokeswoman, dismissed Suzuki's threat of a lawsuit and an investigation as "just intimidation. It's laughable. What are they going to do, hire Sam Spade?" Mazza appeared flustered and confused when he said at the end of Suzuki's lengthy news conference that Suzuki has not yet seen the magazine's test data, although during the conference he and Jon S.

McKibben, an independent engineer hired by the company, repeatedly criticized the magazine for using shoddy and biased testing procedures. That data is the basis for Con-See SAMURAI, page 7B in sour economy chairman of the board and chief executive officer. "This resort will integrate aspects of theater, festival and casino to provide our customers with a singular entertainment experience," Bennett said. The resort will also have an extensive "dungeon" with miniature golf, movie theaters and video arcades among other recreation activities. Bennett said construction will begin this fall on the resort, which he said carries a price tag of between $260 million and $290 million.

The company's flagship resort is on the Las Vegas Strip, with other properties in Reno and Laughlin. Nugget last year sold its Atlantic City casino and is focusing on Las Vegas. Analysts say investors should think along the same lines. They have two clear favorites: Circus Circus Enterprises It has six casinos all in Nevada. Circus Circus dominates the market for family and bargain-conscious tourists.

'They are the champions in this niche," said Jeff Siegel, analyst at Pershing Co. Caesars World It has two casinos in Nevada and owns 86.6 percent of Caesars New Jersey which operates the fastest-growing casino in Atlantic City. He added that a lawsuit against the magazine, apparently charging libel or slander, "is certainly an option." He charged that the magazine, along with the Center for Auto Safety, a Washington-based consumer group, have apparently targeted the Samurai in a political campaign to convince the federal government to issue new auto safety standards covering roll-over accidents. Reno's Sierra Auto Center management has said the dealership sells 600 to 700 Samurais annually and has never received any complaints about rollovers. A spokeswoman for Consumers Union, the Mount Vernon, N.Y., nonprofit consumer group which publishes By James RisenLos Angeles Times DETROIT Suzuki officials lashed out Thursday at charges by Consumer Reports magazine that its popular Samurai utility vehicle is dangerously unsafe and prone to roll over.

Suzuki called the magazine's charges "unfounded," "defamatory," and politically motivated, and said it is mounting an "investigation" of ties between the magazine's publisher and other consumer groups. "We will not allow the magazine's biased and untrue statements to go unchallenged," said Doug Mazza, general manager of Suzuki's American sales arm. "The Consumer Reports tests were seriously flawed." Analysts see gaming a big winner Circus Circus plans castle resort By Daniel KadlecGannett News Service NEW YORK Even if the economy turns sour, analysts say the gambling industry will still be a big winner. Combined gaming revenues in Nevada and New Jersey the nation's only two states with legalized slot machines, roulette and blackjack climbed 11.5 percent to $6.4 billion in 1987, and should reach $7 billion this year. Analysts say the industry will continue to grow by 10 percent to 15 percent a year for the next few years.

"People don't go to these places just to gamble," said Steven Eisenberg, analyst at Bear, Stearns Co. Especially in Nevada, "people see these as low-priced resorts that are easy to get to." In Atlantic City, N.J., and Las Vegas casinos are hot property: Last week, Horseshoe Operating Co. agreed to buy the Mint Casino in Las Vegas from Del Webb Corp. for $27 million. Donald Trump and Merv Griffin are tussling over ownership of the Atlantic City properties of Miami-based Resorts International.

Casino owners are hurriedly building gambling capacity along with 12,000 hotel rooms to add to 59,000 in Las Vegas and 2,500 hotel rooms to add to 7,000 in Atlantic City. The Taj Mahal, Atlantic City's 13th and largest casino, should open next year. All this attention and growth bodes well for Nevada, which over the years has built sufficient infrastructure to support increasing numbers of gamblers. But, said Marvin Roffman, analyst at LAS VEGAS (AP) Circus Circus Enterprises Inc. announced plans Thursday to build a resort with a European castle theme at a cost of up to $290 million.

The company, which operates six Nevada theme resorts, said the hotel-casino will be built on 117 acres of undeveloped land it bought last month on the south end of the Las Vegas Strip. A completion date was set for mid-1990. The new property will feature a casino along with multiple entertainment attractions including a royal village, theme restaurants and costumed performers, said William Bennett, Janney Montgomery Scott "Atlantic City has problems." Legalized gambling is only 10 years old there, and lawmakers are at odds over how to let the industry develop. A much-needed airport expansion keeps getting delayed, the city's traffic flow remains disorganized and still there are far too few hotel rooms. Atlantic City simply cannot accommodate a large influx of gamblers, so the current aggressive expansion threatens to leave casinos warring as they try to fill their new space.

"We see tough times ahead," Roffman said. "Maybe even a crisis or two." Partly to avoid those problems, Golden.