Reno Gazette-Journal from Reno, Nevada • Page 22

Reno Gazette-Journal Ijjjijj USINE THURSDAY JANUARY 12. 1995 STEVE FALCONE. BUSINESS EDITOR: PHONE, 788-6322; FAX, 788-6458 JinuiryU. 1995 DOW(lndiuiral) NYSE Bonds: Treasury bond prices advanced for a second day Wednesday, strengthened by another burst of weak inflation news as the economy continues to grow. The price of the Treasury's main 30-vear bond ended the dav up point, or $3.75 per 1.000 in face value.

Its yield, which moves in the opposite direction, fell to 7.83 percent from 7.86 percent on Tuesday. SIP 500 AM EX SAP HldCp NASDAQ Lockheed, Marietta settle with FTC over merger plan WASHINGTON Lockheed Corp. and Martin Marietta two of the nation's largest defense contractors, have agreed to settle federal charges that their proposed 1 0 billion merger would violate antitrust laws. The proposed agreement between the companies and the Federal Trade Commission means one of the biggest defense unions ever planned can proceed, the FTC said Wednesday. The proposed settlement, which could be finalized after 60 days, will require the new company, Lockheed Martin to open "teaming arrangements" the individual companies now have with the makers of infrared sensors to restore competition for certain types of military satellites.

After first questioning the Lockheed-Marietta merger. Deputy Defense Secretary' John Deutch dismissed FTC concerns and endorsed it. 21K V4 2 Vi 40 -Vi 56V 17 7 29' 10 Vi 69 8 3 51V 42 9 20' Vi 6 20' Vi 35' 1 28 42 41516 -116 414 -V4 27 12 Vt 18 8' -Vt 14 22' I- i 1 Jot ckic Amfed Financial Amaarv Inc. BankAmerica Clorox Coeurd'Alena Comstock Bank R.R. Donnelley Echo Bay First Interstate FlrstMissGold FMC Gold Gannett General Motors Glamis Gold Granite Const Harding Nevada Power Newmont Pacific Telesis J.C.

Penney Radica Games Reno Air Rotech Santa Fe Pac. Gold Sierra Pacific Sierra Tahoe Southwest Gas US Bancorp NYSE Diary "A553CiaTM Pfess Flight ending: The record-setting flight from bond mutual funds the past year may be ending. Investors pumped a net 687 million into bond funds last week. That marks the first time since the week of Sept. 7 that more money moved into bond funds than out, AMG Data Services says.

Kemper, Benham and New England Funds say more money has been going in than out the past few weeks. Mnocn: 1,051 Decilitre 1J79 Unchanged: 707 REMINDER: A tiny computer embedded in a drug bottle cap is a high tech firm's answer to one of medicine's most vexing problems patients who don't take their prescriptions. The SmartCap, made by Aprex has a digital readout telling you how many times you remove it each day, and when, and it beeps when it's time to take your pills. 23 Total Ihum: 2,937 97 Corapoiitf Tolumt: 418,066,120 1994 v. coup, 352,288,590 THE ECONOMY Consumer prices barely changed in 994 k3 Particularly worrisome to Fed officials is the nation's falling unemployment rate, which has been pushed downward as the demand for goods and services has forced businesses to dip into the pool of jobless workers.

Now the competition for workers is so high that Fed officials and many analysts worry that wages will start to increase more rapidly. In addition, there is a widespread expectation among analysts that businesses will try this year to pass on to their customers more of the cost increases for raw materials and components that the firms have been absorbing. As a result, these analysts predict consumer prices will rise 3.5 percent to 4 percent this year. Staff and wire service reports SECRETARY OF STATE largely as a result of higher prices for food, particularly fruits and vegetables. Last year's 2.7 percent increase in the nation's consumer price index was the same as in 1993.

The index rose 2.9 percent in 1992 and 3.1 percent in 1991. Excluding volatile food and energy prices, the index rose only 2.6 percent last year, the smallest increase since 1965, down from 3.2 percent in 1993. Many analysts and policy-makers regard this measure known as the core index as the best measure of inflationary pressure in the economy. This remarkable regional and national stability in the inflation rate has surprised many forecasters and economic policy-makers who had predicted that rapid eco lures players into Consumer prices rose less than 3 percent in 1994 for the third year in a row, despite surging economic growth and sharply dropping unemployment, the Labor Department reported Wednesday. For the westernmost 13 states, the news was even better: The prices consumers paid for goods and sen ices edged up just 2.3 percent for the year, compared to increases of 3.5 percent and 2.7 percent in 1992 and 1993 respectively.

The December increase was just 0.1 percent in the West, according to the U.S. Department of Labor's Bureau of Labor Statistics. Sam Hirabayashi, the Bureau's regional commissioner, said the Western increase, which matched that for the prior month, came Home giveaway Business filings increased 18 in past year GAMING TOURISM N.J. approves sale off Caesars to ITT ATLANTIC CITY, N.J. ITT Corp.

on Wednesday-obtained the first of a series of approvals needed from New-Jersey gambling regulators to complete its purchase of Caesars World Inc. The state Casino Control Commission voted unanimously to approve a trust agreement for shares of Caesars World common stock and qualify a trustee for the 1 7 billion deal announced last month. New Jersey regulators still must vote on licensing ITT. A vote on an interim license is set for Jan. 23.

The purchase offer expires Jan. 24. ITT owner of the Sheraton Hotel chain, has agreed to pay $67.50 a share for Caesars stock. The deal is contingent upon ITT Corp. obtaining gambling licenses in Nevada, New Jersey and Ontario.

Caesars operates or has interests in casinos in all three places. The New Jersey property is the 641 -room Caesars Atlantic City Hotel Casino. License denial hits Dally stock NEW YORK Bally Gaming International Inc. shares fell 1 5 percent Wednesday after the company said it was denied a license in Louisiana to sell gaming products to a New Orleans land-based casino. The Las Vegas-based maker of casino and video lottery products said it will appeal the Louisiana Economic Development Gaming decision.

Bally said it currently is licensed by the Louisiana State Police to operate video lottery terminals and riverboat operations. The company's shares fell $1.50 to close at $8.50 in Wednesday trading on the Nasdaq Stock Market. Correction NEW ORLEANS The Associated Press Monday erroneously reported that Alan Maiss, the former president of Bally Gaming, was accused of concealing knowledge that a video poker distributor was linked to the Mafia. Maiss pleaded guilty to two counts of concealing knowledge of a felony. He was accused of withholding knowledge that the distributor had no license.

In a separate action, the government alleged that the distributor had at least one link to the Mafia. Wire service reports (9m ril -v I 1 if-V II' -ft Udffifc sy awiL nomic growth and falling unemployment would cause inflation to increase. But many analysts do not expect the good inflation news to prevent Federal Reserve policy-makers from raising short-term interest rates again, likely by at least a half-percentage point, when they meet for two days beginning Jan. 3 1 Fed officials are concerned that their 1994 interest-rate increases have not slowed economic growth yet. Many forecasters say the economy grew at a 5 percent rate or more in the final three months of 1994, which would mean that was the strongest quarter of the entire year.

During that strong quarter, the CPI rose at only a 2.2 percent annual rate, Wednesday's report said. Nugget square-toot home in Sparks, she said, and brings about 6,000 to 7,000 people a day into the casino. To enter the drawing, guests have pick up an entry ticket in the casino. Visitors do not have to play casino games to receive a ticket, said Doug Sherfey, Nugget advertising and public relations director, but players are eligible for additional tickets. Drawings are held every night for smaller prizes, he said, which See PROMOTIONS on page 4B moves to Reno about two months.

Gillham said the company brought five employees to Reno from Oklahoma City and will hire several more locally. Another seven programmers remain in Oklahoma, he said. IMS chose Reno as a relocation site after examining a number of possibilities, Gillham said. "We searched for an area that was growing, that was a nice place to live and a nice place to bring people to for training," he said. "Oklahoma has a kind of negative connotation," Gillham said.

"Reno-Tahoe is more a resort area and it's easy to get in and out of." The company wanted a secondary market where IMS could be a strong force, he said. "We also wanted a nice place to raise children," Gillham said. Consumer prices Percent chanoe. month to month. r'f seasonally adjusted.

iTj 0.4 jjjjjjjjj JFMAM ASONO 1994 Source: Bureau of Ubor Statistic AP "For the next couple of years, we anticipate filing growth each year of about 1 5 perent," he said. Nevada's current growth rate one of the highest in the nation has a lot to do with the increase, as well as the fee structures, Heller said. California Gov. Pete Wilson, however, has indicated that California needs to encourage its businesses to stay put, instead of moving to other states such as Nevada, Heller said. Filing costs for new businesses in Nevada vary according to the nature and size of the business.

A non-profit corporation, for example, pays a flat rate of $25, while for-profit corporations are charged according to the amount represented by the total number of shares provided for in the articles of incorporation, with fees starting at $125. Limited liability companies and limited partnerships pay of $125. Heller said the increase in filings imposes some pressure on his staff. "We've got our work cut out for us to continue to provide quality services in the face of this kind of growth," he said. Heller has initiated the process for a full audit of the Secretary of State's office to help determine what changes need to be made to make the office more efficient.

He also hopes to bring in a business management team to determine what technology is needed to increase customer service. "We don't have room for more staff," he said, "but I think there is room for technology." ing purchase of the Circus Circus would have the right to meet Bennett's offer under a "corporate opportunity" clause since he remains a director of the company. "There's the possibility Circus may say they want it and if they do, they'll have the property, Bennett's attorney, George Kele-sis, said Wednesday. "They've got to live with the terms of the deal we signed," Ke-lesissaid. Kclesis said Bennett was approached about the possibility of purchasing the Hacienda in early December.

Lucy PemoniyGazelle Journal cuaga, Roger Gimson, home theater specialist at Wild West AudioVideo Design and Dick Donnelly of Dick Donnelly Automotive Enterprises. Wild West and Donnelly have joined the promotion for the first time this year. GRAND PRIZE: The winner in John Ascuaga's Nugget's annual sweepstakes will receive a $166,000 home in DiLoreto's Vintage Hills development. In front of a model similar to the prize house, are, from left, Perry DiLoreto of DiLoreto Homes, As- By Susan Skorupa GAZETTE-JOURNAL New filings for corporations and other business entities in Nevada grew at a record pace in 1 994, increasing 1 8 percent over 1993. The Nevada Secretary of State's office reported Wednesday that 22,740 companies filed papers as corporations, limited liability companies or limited partnerships last year, up from 19,326 in 1993.

"This increase represents a significant growth in new filings and certainly is an indication of Nevada's good business climate," said Secretary of State Dean Heller. Revenues from the 1994 filings totaled $3,366,986. That's about one-sixth of the approximately $18 million in revenues generated by the Secretary of State's office each year. Heller said about 85 percent of the new filings were "domestic" the companies actually made their homes in Nevada. The other 15 percent were considered "foreign," meaning the companies filed as Nevada businesses but maintained their headquarters in other states.

The Secretary of State's office doesn't determine which area of the state is attracting the most new businesses, based on the filings, Heller said. Companies are attracted to Nevada, Heller said, because of the ease of filing their papers here, fees that are substantially lower than most other states and comparatively low corporate taxes. Promotions keep casinos busy in winter Circus, former chairman interested in Hacienda hotel aren't up to snuff, casino employees can find themselves facing the word: LAYOFFS. "It's a way to flatten out the year and keep everybody employed," said Michonne Ascuaga, regarding the Home Sweet Home promotion at John Ascuaga's Nugget. "It's made our January and February," said Ascuaga, senior executive vice president for the Nugget.

"This is the biggie for the first part of the year. The annual drawing awards a lucky guest a brand new clearinghouse ple and others who want to purchase the software. Gillham said the clearinghouse started three years ago in Oklahoma City, although IMS created its software about eight years ago. "We started off in software and moved into claims," he said. "We now have the training facility to teach people how to do the claims work and also how to use the software." The company is seeking accreditation for its classes so doctors can use the courses for their own ongoing accreditation, Gillham said.

The billing service is nationwide, he said. The process cuts down on lost claims and allows the doctor, dentist or other care provider to receive payment much more quickly in 10 to 12 days rather than By James Robbins GAZETTE-JOURNAL Reno-Sparks casino operators only have three things on their minds in January: promotions, promotions, promotions. As soon as the last holiday tourist packs up his bags to leave town after the three-day New Year's weekend, marketing departments around the city focus on ways keep the coins jingling in the slot machines. And if the promotional ideas Medical claims By Susan Skorupa GA.ETTE-JOL'RNAL An electronic clearinghouse for medical insurance claims has moved its headquarters and training center to Reno, bringing along a system that cuts paperwork time to seconds, company officials say. Integrated Medical System accepts claims from doctors, dentists, clinics and other medical billing centers and disseminates them in seconds to insurance payors, cutting down on paperwork and lost claims, IMS officials said.

The company also markets its own management software for the medical and dental fields, said Ron Gillham president. IMS's new office at 200 S. Virginia St. includes training facilities for doctors, insurance billing peo Alliance Ameristar 6 Aztar 5 Bally Gaming 8Vz -IVi Bally Enter. 7' Boomtown 1 5 Caesars World 67 Casino Data Sys.

1 4 Va Circus Circus 25' Grand Casinos 14 Harvey 13 Hilton Hotels 65' -1' KT 14 Jackpot Ent 87 -Vi MGM Grand 24Va -H Mikohn Gaming 8 Mirage 22' Monarch 5' Primadonna 21 -1' PromusCos. 31 Rio Hotel 11' -3 Sahara Gaming 5 Sands Regent 7 Showboat 13 Sodak 16 7 USA Capital Composite Gaming Index 134 92 -0 44 LAS VEGAS (AP) An attorney for longtime gaming executive William Bennett says his purchase of a Las Vegas Strip resort hinges on whether the company Bennett founded wants to buy the property instead. Bennett said Tuesday he had purchased the Hacienda Hotel and Casino for $80 million. But the purchase is complicated by his role as a director of Circus Circus Enterprises the company he headed for 20 years before resigning as chairman in July. Circus Circus officials responded to Bennett's announcement by saying they were explor.