The Los Angeles Times from Los Angeles, California on July 12, 1994 · Page 146
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The Los Angeles Times from Los Angeles, California · Page 146

Los Angeles, California
Issue Date:
Tuesday, July 12, 1994
Page 146
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D 1 0 TUESDAY. JULY 12. 1994 R LOS ANGELES TIMES MARKETING: All-Star Game slJnderaCloud i Continued from Dl JJ;tit cut costs next season by enforc-ing a salary cap. Other fans are . turned off by visions of another " American League blowout (The ''-American League has won the past six contests.) And baseball's mid-season classic as American as Dodger Dogs finds itself compet- "fog for media coverage against "soccer's World Cup. f "There's a real cloud hanging over this year's All-Star Game," said Brandon Steiner, president of New York-based Steiner Sports Marketing. "The karma is pretty 1 Jad." ; i .. Still, officials at NBC say all 60 of the 30-second commercial units ; have been sold, for up to $300,000 L each. ... T Sponsors, who are generally try-""rrig to put the best possible face on ! the event, point out that many fans j are especially eager to see several sluggers who are making serious r bids at baseball's single -season J Rome run record of 61, set by i Roger Maris in 1961. Going into the I All-Star break, Seattle's Ken Grif-l fey Jr. and San Francisco's Matt J Williams each has 33 home runs, r and Chicago's Frank Thomas has No matter what happens, execu-plJves at Texaco figure they've cov- wed their bases. Almost all of our participation !was leading up to the All-Star Game," said Tom Matthews, presi-i dent of Texaco Refinine & Market - j ing. "So if a strike does occur, it has , j a very minimal effect on us." J ! More than 6 million of the record !; n million Ail-star Daiiots com-j pleted this year were picked up at ' Texaco service stations. Matthews j! said. The rest were obtained at the ; ballparks. And Texaco's name ap- s i pearea on every one of the ballots. ! Most other sponsors, however, j are in it for the long haul. Ji Gatorade has its name and logo ' etched into the on-deck circles, j-where players stand before they jlbat. Each time the camera shows J;the batter waiting on deck, the Gatorade logo will be seen in up to J 1 40 million American households. I J '-'"It reminds the public that we're U))e sports beverage used by the jbest athletes in the world," said j jll Daily, director of sports mar-t 1 keting for Gatorade. J i Reebok hopes TV camera operators will find reason to show a lrtao-iin nf tha eVirvoc nf to Inner- Tball-hitting spokesman, Frank " Thomas. He'll be decked out in a pair of shoes from Reebok's upcoming shoe line, dubbed in honor of Thomas' many nicknames: "The Big Hurt" Although the shoe line won't be available until next spring, Reebok hopes this can help it build early interest in the line. "Maybe he'll foul a ball off his foot and the camera will show a close-up," joked Reebok spokesman Dave Fogelsoa But above all, it is Griffey who may seem as visible off the field as on during tonight's game. The Seattle Mariner outfielder will appear in new ads for Nike, Nintendo and a tear-jerker ad for Major League Baseball. The baseball spot features the superstar spending a day at Seattle's Kingdome with a 12-year-old cancer patient whose longtime wish to meet Griffey was granted through the Make-A-Wish Foundation. "It's an attempt to make people realize that some of these guys-even though they're making tons of money are real people," said Jeff Goodby, chairman of Goodby, Silverstein & Partners. The agency also created a spot airing tonight that features Dodger star Mike Piazza visiting a cancer ward at Childrens Hospital Los Angeles. The slogan of the ads ' attempts to make ballplayers seem more accessible: "Real-life heroes." During the game, Nintendo will twice air an ad featuring Griffey and his father, Ken Griffey Sr., who was a star with the Cincinnati Reds in the mid-1970s. Since April, Nintendo has sold nearly 750,000 "Ken Griffey Jr. Presents Major League Baseball" computer software games, said George Harrison, director of marketing. "We see a bump in sales every time he hits a home run," Harrison said. Briefly... The Los Angeles agency Men-delsohnZien Advertising has picked up two new clients: the $5-million Clothestime of Anaheim account, formerly handled by KresserCraig, and the $2-million account for Garden Fresh Restaurant Corp. of San Diego. . . . Two Southern California ad legends have left the ad business to pursue favorite hobbies: Phillip Joanou has stepped down as chairman of Dailey & Associates to study painting at the graduate school of the New York Academy of Art, and Jean Craig has retired as president of KresserCraig Advertising to work on several books, including one about the 1993 Malibu fire that destroyed her home. ... Ad whiz Sakol Mongkolkasetarin, the 27-year-old who won a handful of prestigious Belding Awards earlier this year, has left the agency dGWB Advertising with two partners to form Newport Beach-based Acme Advertising. HEALTH CARE INDUSTRY E:7c: J Annual I Percentage 1 JJ Yield Annual Percentage Yield 12 month CD Minimum Deposit $2,500 'Limited Availability. Rates Subject to change without notice. Money Market Account Minimum Deposit $50,000 umnea AvauoDwiy. kotos )UDect to change without notice. Any lees &or service charges may reduce APY. Average Balonte Annual Percentage Yield 1,000 to 9,999.99 2.75 1 0,000 to 24,999.99 3.05 25,000 to 49,999.99 3.50 50,000 and over 3.75 fOUU omtwmrt ami MERCANTILE NATIONAL . BANK 1840 Century Park East Los Angeles, CA 90067 (310) 284-7674 Mon.-Fri. 9AM-5PM APY accurate as of July 12, 1994. Accounts only available to California Residents j il if ' d i ii ; jS Need To Furnish . A Large Buildim?, - (V m Then You Need Recycled Umce furniture. Yle have thousands of quality chairs, desks, filing cabinets, bookcases, work stations, reception furniture, modular furniture systems, computer tables, drafting equipment, office machines, steel shelving; work benches, and other items. So whatever furniture you're looking for, you'll find it here. And youll find it for less- SAVING UP TO 90 OFF THE COST OF COMPARABLE NEW FURNITURE! Visit our 40,000 sq. ft. showroom or call us today! T 1 1 213686-0000 - - - - or 3400 North Peck Rd., El Monte (Just offtlie 10 Freeway) 800564-4223 Toll-Free OPEN Monday-Friday 8 to 5:30, Saturday 9 to 4 NME to Slash Employment in Santa Monica , By NANCY RIVERA BROOKS TIMES STAFF WRITER National Medical Enterprises said Monday that it will eliminate a quarter of the jobs at its Santa Monica headquarters to simplify operations and reduce costs. NME, which employs 900 people, said it will lay off 200 of them and eliminate 40 jobs that currently are unfilled. Most of those laid off will be corporate personnel in Santa Monica. The hospital operator, which last month pleaded guilty to eight criminal counts and agreed to pay a record $379 million to settle a government fraud investigation primarily involving activities at its psychiatric hospitals, said it expects to save $32 million a year after making the cuts. The company has already paid more than $200 million to settle lawsuits brought by insurers and patients. The suits allege misdeeds such as false imprisonment, billing fraud and conspiracy. The government charged that NME paid kickbacks and bribes to doctors, referral services and others so patients would be referred to NME's psychiatric and substance-abuse hospitals in 30 states, then fraudulently billed Medicare and other federal programs. The restructuring announced Monday comes after a three-month study by the McKinsey & Co. consulting firm. It is part of a corporate plan to focus on its 35 general acute-care hospitals, which are the source of most of NME's profits. In addition, the government settlement requires NME to sell its psychiatric and substance-abuse hospitals; the company recently agreed to sell 47 psychiatric hospitals to Charter Medical Corp. for $200 million. So far, NME has agreed to sell 85 of the 135 hospitals and clinics it once owned. NME's overhaul gives the firm "a more nimble, cost effective corporate structure with which to compete in today's extremely competitive health care indus-. try," said Jeffrey C. Barbakow, the chairman and chief executive who was hired last year to clean up the company. ( NME is still studying the ques-; tion of whether it will move to a new headquarters. It expects to have an answer by August, a company spokeswoman said. NME's current home base has. 300,000 square feet of space, arid; the company no longer needs such a large headquarters, sh& said. LILLY: Drug Giant WU1 Acquire PCS in a $4-Billion Deal Continued from Dl major customers include the three big U.S. auto makers and some federal agencies. Employers contract with companies such as PCS to process prescription claims, negotiate discounts with drug makers and monitor doctors' drug-prescribing activities. Such companies, for example, will encourage doctors to prescribe less costly generic versions of brand-name drugs when they are available. Lilly's acquisition price about 23 times PCS' annual sales of $180 million, as estimated by analysts reflects the critical importance the drug maker places on gaining a foothold in the drug benefit management field. Lilly was one of several big drug makers scrambling to respond to earlier moves by rival firms and PCS was the last of the big drug benefits firms available. Merck & Co., the world's largest drug maker, in November signaled the changes to come when it paid more than $6 billion for Medco Containment Services, a prescription benefits manager and mail-order drug firm. And British-owned drug maker SmithKline Beecham in May said it would pay $2.3 billion for Diversified Pharmaceutical Services of Bloomington, Minn. Both those deals would have inhibited Lilly's access to patients in the Medco and Diversified Pharmaceutical benefits programs, analysts said. For its $4 billion, Lilly would gain access to PCS' 50 million members and more control over ensuring that PCS members use Lilly drugs whenever possible. Analysts noted that Lilly is paying a far heftier price some 75 times operating earnings than Merck or SmithKline paid to gain entry into the managed-care field. Merck paid roughly 30 times earnings for Medco, while SmithKline paid 55 times earnings for Diversified Pharmaceuticals, according to Lawrence Marsh, analyst at Wheat First Butcher & Singer in Richmond, Va. But analysts also said Lilly's higher price is justified, in part because PCS has more members than either Medco or Diversified and is considered by analysts to be the most profitable and fastest-growing of the firms. "I think Lilly is paying what they need to pay to get the business," said Jack Lamberton, an analyst with County Nat West USA in New York. However, many Lilly investors apparently weren't happy with the $4-billion price tag, which the drug maker plans to finance mostly through borrowing. Lilly shares dropped $7,375 to $50 on the New York Stock Exchange, as the company lost about $2 billion in market value. But McKesson shares soared on the news, gaining $24.75 to close at $98 on the Big Board. For McKesson, a giant drug wholesaler whose relatively tiny PCS unit was considered the company's crown jewel, the Lilly deal reflects an offer that was evidently too good to refuse. McKesson was reportedly ap proached by other drug makers interested in buying PCS, including British-based Glaxo Holdings. "There's a real sense of concern among the drug companies of missing the boat, and McKesson was willing to use its position as the last unaffiliated drug benefit firm to strike an impressive deal for shareholders," Marsh said. Alan Seelenfreund, McKes-son's chairman and chief executive, suggested that recent moves by "companies with substantially greater" clinical resources, physician relationships and research and development budgets were making it tougher for PCS to compete. "In light of this changed environment and the offer from Lilly . . . this transaction represents the best opportunity to maximize shareholder value," he said. Under terms of the deal, Lilly would pay McKesson stockholders $76 in cash for each outstanding share. jvJLv LI UULUVJi 80 iaidi & Imd II . m m m LOS ANGELES PROPERTIES LA 61 4 Plex Los Angeles 1712 W. 35th Place ' 673 H1 $148,000 $79,000 LA 62 SFR Los Angeles 542 W. 94th Street 704 B4 138,000 84,000 LA 63 SFR Inglewood 3632 W. 11 8th Street 703 E7 142,000 95,000 LA 64 SFR Lancaster 345 E. Avenue J-1 3 4105 HI 74,000 45,000 LA 65 SFR Los Angeles 669 W. 59th Place 674 B9 135,000 85,000 LA 66 SFR Sherman Oaks 13630 Addison Street 562 E3 485,000 309,000 LA 67 SFR Los Angeles 6021 Alviso Avenue 673 D6 150,000 99,000 LA 68 SFR Norwalk 11 040 Brink Avenue 706 H6 170,000 109,000 LA 69 SFR Santa FeSprs 11314 Broaded St. 706 H3 163,000 99,000 LA 70 SFR San Gabriel 8606 E. Broadway 596 G4 275,000 179,000 LA 71 SFR Los Angeles 451 8 Budlong Avenue 674 A4 115,000 74,000 LA 72 SFR Duarte 2406 California Avenue 597 H1 148,000 89,000 LA 73 SFR Pasadena 3675 Cartwright Street 566 H2 238,000 159,000 LA 74 SFR Paramount 7134 Century Blvd. 735 F1 188,000 119,000 LA 75 SFR Chatsworth 10455 Eton Avenue 500 B4 198,000 135,000 LA 76 SFR San Pedro 1537 S.Grand Avenue 824 B6 180,000 119,000 LA 77 SFR Los Angeles 10311 Holmes Avenue 704 G5 128,000 69,000 LA 78 SFR Monterey Park 1 332 Kempton Avenue 636 C4 215,000 139,000 LA 79 SFR San Fernando 1933 Knox Street 482 C4 140,000 79,000 LA 80 Lot Los Angeles 10722-24 Lou Dillon 704 H5 50,000 0 LA 81 SFR Los Angeles 2519 Mallory Street 595 E7 135,000 . 89,000 LA 83 SFR Pacoima 13507 Mercer Street 502 C3 134,000 79,000 LA 84 4 Plex Los Angeles 3913S.Normandie 673 J2 168,000 104,000 LA 85 SFR W.Covina 232 Orange Avenue 598 E6 169,000 84,000 LA 86 SFR West LA 2200 Pelham Avenue 632 D5 315,000 209,000 LA 87 SFR Pico Rivera 8814Sandlock 676 F5 165,000 99,000 LA 88 Condo VanNuys 1 5946 Vanowen 205 531 F6 87,000 45,000 LA 90 SFR Torrance 23709 Vine Avenue 793 G2 253,000 149,000 LA 91 SFR Los Angeles 318 S.Westmoreland 634 A2 343,000 199,000 LA 92 4 Plex Los Angeles 1231 W. Court Street 634 E2 175,000 69,000 LA 93 SFR Los Angeles 2621 S. Curson Avenue 633 B7 135,000 69,000 LA 95 SFR Los Angeles 2911 S.Rimpau Blvd. 633 C7 138,000 69,000 LA 96 Duplex Los Angeles 665-667 S. Chicago St. 635 A6 150,000 69,000 LA104 SFR Los Angeles 1 23 W. 11 0th Street 704 C6 78,000 45,000 life m m wm mi LA105 SFR Los Angeles 2260 Loveland Drive 594 J2 198,000 129,000 '' LA106 SFR Los Angeles 5101 Almaden Drive 595 B1 155,000 89,000 LA107 SFR Carson 21924Ackmar 764 G6 175,000 99,000 LA111 SFR San Gabriel 6937 Ferncroft Avenue 566 F7 483,000 199,000 Plus Many Mom Los Angeles County Properties. See Auction Brochure. '. ORANGE COUNTY PROPERTIES 0C1 SFR Santa Ana 125 E.Pomona St. 829 F6 149,000 89,000 V 0C2 SFR Garden Grove 5502 Richmond 797 D5 192,000 129,000 '. 0C3 SFR Irvine 6 Silver Crescent 890 D5 429,000 259,000 0C4 Condo Dana Point 26006 View Point Dr. E. 972 B7 349,000 199,000 ; 0C5 Condo Mission Viejo 27810 Paguera 892 D3 189,000 119,000 0C6 SFR SanClemente 1216VistaCantora 993 A4 455,000 279,000 ' 0C7 SFR Garden Grove 10631 Claussen St. 798 E5 158,000 109,000 ' 0C8 SFR Anaheim 151 5 W.Minerva Ave. 768 G7 158,000 99,000 RIVERSIDE PROPERTIES (SAMPLE) RIV200 SFR Moreno Valley 26250 Boulder Ridge Dr. 15AA2 260,000 149,000 ,- RIV201 SFR Moreno Valley 14935 Clitfrose Court 25 D3 97,000 59,000 '' RIV202 SFR Canyon Lake 22124 Drover Way 71 F3 240,000 149,000 ' RIV204 SFR Riverside 16892 Iris Avenue 23 05 209,000 129,000 r RIV205 SFR Riverside 6842 La Jolla Drive 12 D3 128,000 74 000 ' RIV206 SFR Moreno Valley 25253 Minnetonka Ct. 25 E2 119,000 79,000 ' RIV207 SFR Lake Mathews 21175 Ridgedale Drive 38 F1 285,000 189,000 SAN BERNARDINO PROPERTIES (SAMPLE) r S8 262 SFR Lk. Arrowhead 798 Crown Drive 93 F2 225,000 139,000 J SB 263 SFR Big Bear . 39751 Forest Road 98 A4 132,000 79,000 SB 264 SFR Chirto 5071 Francis Avenue 21 05 156,000 89,000 r SB 265 SFR Yucca Valley 6422 Goleta 161 C5 55,000 29,000 , SB 266 SFR Rcho.Cucam. 9221 Jadeite Avenue 12A5 130,000 79,000 SB 267 SFR Fontana 7761 Madrona Court 14C2 119,000 64,000 ' SB 269 SFR Rialto 19605 Pecan Avenue 6C5 138,000 75,000 I SB 270 SFR Fontana 17451 Pinedale Avenue 14 E5 98,000 49,000 SB 272 Condo Highland 25180 E. 5th St 174 17 B2 45,000 25,000 ' SB 273 Condo Highland 25180 E. 5th St. 175 17 B2 45,000 25,000 r Auction held wnti num. Many More Homes In Orange, LA, Riverside & San Bernardino Counties. Please sw Auction Catalog for complete Terms and Common. Property Type: Sf R-Smgle Fannty Resxfcnce CWtM-GxKtorwrwjm (with HOA Am) LOT-Ko Site Improvements Duplex & 4-Ptex-Murbple Farmry Residence (several attached units) r Open Houses: July 16, 17, 23, 24, 30 & 31 From 12 Noon-4PM For AH Properties Not Occupied. See Auction Catalog For Details. Excellent Financing Available Low Down Payments 2 Broker Coop Offered Si ffifl Allftifin Tiftliaf Many More Homes In Orange, Riverside &San Bernardino Counties. U Uiy SlUVWUIl ASUyd. 80 REO Residential Properties! A Tremendous Opportunity For See Auction Catalog for Dates and Times Investors Or Your First Home! Gall 24 Hours A Day 1-800-3GG4444 For Free Catalog . Ask For Catalog R-9416 Or Call Our Fax-On-Demand Info Hotline: 1-310-575-5080 Auction Held By: Real Estate Disposition Corporation ( REDC) A Licensed California Real Estate Broker We re Recycling! plow about you?) FILM We extract silver from approximately 100,000 pounds of film per year and recycle it. ORANGE COUNTY Recycling for an abundant future. I,

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