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The Journal News from White Plains, New York • Page 41

Publication:
The Journal Newsi
Location:
White Plains, New York
Issue Date:
Page:
41
Extracted Article Text (OCR)

El Wednesday April 12, 1995 Rockland Journal-News The releases Amenca Stocks E2-E3 Money news desk: 578-2424 ft Less anxious for cleans owin on mam BUSINESS REPORT now, uui wumeu about the future What Money magazine found in its 10th annual survey: Survey finds many in U.S. fretting less about money now, but fear country is sliding Pessimism about the future: What are your expectations for the U.S. economy in 1995? Energy, food prices fall No change-r Better 27 50 -f- --Worse 22: the results of our 1995 Americans and Their Money poll," said the magazine, which published the national poll in its May issue, distributed today. The problem worries President Clinton, whose approval ratings have sagged while the economy has expanded. People "read these good economic numbers.

Well, they ask, when it is going to make me happy? When do I get a raise?" the president said in an interview with Money concerning the survey results. The survey, conducted for Money by Willard Shullman, a Greenwich, research firm, was based on a mailed survey AMERICANS continues E4 Do you feel the country is in a long-term decline? The Associated Press NEW YORK Many Americans are worrying less about the status of their pocketbooks, yet believe the country is on a long-term slide and don't trust government a whit Money magazine's 10th poll on "Americans and Their Money" highlights the pessimism about the future that people feel even amid evidence that the economy is growing at a healthy clip. In one telling sign about people's view of the future or perhaps just about a belief in their own luck 11 percent of the 1,416 respondents said the best way to get rich was to play the lottery. "This puzzling sense of gloom amid relative prosperity pervades The Associated Press WASHINGTON The cost of energy and food fell at the wholesale level in March, giving the country its best news on prices in five months and suggesting the economy was still on the Federal Reserve's glide path for a "soft landing." The Labor Department reported yesterday that its Producer Price Index, after posting worrisome gains of 0.3 percent in both January and February, showed no increase at all in March, as the price of gasoline, autos and women's clothing dropped. Financial markets initially rallied on the news with economists taking heart from the fact that the steep slide in the dollar has so far failed to show up in higher prices.

But the market gains melted away later in the day. The stock market followed bond prices lower after remarks by Federal Reserve board member Janet Yellen called into question the market's view that the Fed is through raising interest rates. No Some figures do not add 1 00 due to rounding Source: Money magazine APC. Sanderson Internet advantages to be discussed Two computer experts say the Internet may have many advantages for businesses, but consumers need to learn to distinguish fact from fiction. On April 21, Jahan Salehi and Thomas Forbes will guide groups through the Internet and teach them what the future really holds for businesses.

Forbes, an author, and Salehi, a consultant to Solute will speak at two sessions, 9 a.m. to noon and 6 to 9 p.m., at the Stouffer Inn in White Plains, n.y.. For more information, call 674-6000. Pondering impact of personal problems Employers concerned about the impact of personal problems in the workplace can attend a lunch seminar at noon, April 19, at Dominican College in Blau-velt. Managers will learn how to handle employees with work performance problems, identify and intervene with troubled employees, and heighten awareness of the impact of personal problems in the workplace.

Susan Mazzarella, director of Nyack Hospital Employee Assistance Programs, will present the 40-minute workshop. For reservations, call the Rockland Business Association at 639-1900. TAXPAYER TIP 'Reasonable' price clause! dropped for drug makers The Associated Press WASHINGTON The government will no longer make pharmaceutical companies agree to set "reasonable" prices for new drugs they develop from research agreements with the National Institutes of Health. The NIH announced the elimination of the "reasonable pricing" clause yesterday, saying it didn't im i 1 is ST 1 4 a 4f a tJ 4 Hh-J' i protect consumers but if Cutting comers could cost plenty Apr. 1995 lilMULwjlLFls LLL: Don't try to save time by using shortcuts to make tax calculations; they often result in a bigger tax bill.

did deter the industry from collaborating with federal scientists. "Eliminating the clause will promote research that can enhance the health of the American people," NIH Director Harold Varmus said. But a lawmaker said the move could hurt consumers, and pledged to battle any price gouging of drugs that result from NIH collaborations. "Certainly if drug and Egia ULL 'Eliminating the clause will promote research that can enhance the health of the American NIH Director Harold Varmus 5 days in riftariline Staff photoJesse Motley PIZZA OVEN: Thomas Nixon, president of Bakers Pride, serves up a pizza baked in his company's oven testing area. Oven maker sliced out niche New Rochelle company cornered market on specialized pizza ovens 'All I can say is that my father-in-law made more millionaires out of normal people in the '50s than any other person I Thomas Nixon, president of Bakers Pride For example, business travelers may find that claiming the fixed IRS meal allowance is much simpler and speedier than totaling up a pile of restaurant receipts.

But you'll usually wind up with a much fatter deduction if you take the time to figure your actual expenses. Similarly, using one of the shorter tax forms, such as the 1040A, 1040EZ or Schedule C-EZ, may get you through the tax season more quickly and with less torment. But you may miss out on some tax benefits. MONEYSAVER TIP How to avoid investment schemes Many legitimate investment opportunities are available. Un- fortunately, there are always some investment scams out there as well A free booklet from the Institute of Certified Financial Planners, a professional group based in Denver, can help you reduce your chances of becoming a victim of investment fraud.

To receive a copy of "Avoiding Investment and Financial Scams: Seeking Full Disclosure is the Key," call 1-800-282-7526. PERSONNEL FILE John Sadowski HOMEi Stony Point COMPANYi Norstar Energy WHAT'S NEWi Retail marketing vice president for Norstar device companies see the r-r government is asleep and try to take advantage of consumers, Congress can step back in," warned Rep. Ron Wyden, who had urged the NIH to strengthen the pricing clause. "There's a new burden of proof on the part of government and private sector partners to show that taxpayers and consumers get a fair shake." The drug industry spent last year lobbying hard for the move. The clause was "a significant stumbling block for biotechnology companies that must spend millions of dollars in private capital to commercialize NIH's basic research to bring new drugs to patients," said Carl Feldbaum, president of the Biotechnology Industry Organization.

But consumer advocates argued that Americans pay twice for many drugs: first with taxes and then at the pharmacy. For example, Taxol, the breast cancer drug discovered by NIH, costs 25 cents a milligram to make but sells for $4.87, the Taxpayer Assets Project told Congress last summer. Levamisole, into which' the NIH poured $11 million, costs $6 a pill to treat colon cancer, but 6 cents a pill to deworm sheep, the group said. The "reasonable price" clause was enacted because of furor over AZT, the first AIDS drug to hit the market in 1987. Although developed by federal scientists, it cost patients $8,000 to $10,000 a year.

Since then, no drug has fallen under the very narrow type of collaborating agreement that would trigger the fair-pricing clause, Varmus said yesterday. Yet the clause deterred many companies from collaborating with NIH at all for fear of losing profits, he said. "NIH shares the ebneern about potential inaccessibility of such products due to cost," the agency said in a statement. But "NIH's primary programmatic mission is in biomedical research, not in product pricing." with some sheet metal, a drill press and other tools. The end result became a prototype for the modern gas and electric pizza oven.

Depending on the dough and ingredients used, Nevin said he perfected his patented design to bake a pizza within nine minutes. Fifty years later, Nevin still serves as chairman of the company. His son-in-law, Thomas Nixon, is the company's president. "All I can say is that my father-in-law made more millionaires out of normal people in the '50s than any other person I know," Nixon said. In this decade, Bakers Pride can boast having its oven products in 20,000 to 30,000 of the 50,000 pizza-making restaurants in the United States, Nixon said.

The pizza ovens and charbroiler products range in price from $500 to 115,000. Annual revenues top $10 million Mark Mazzotta, owner of Amore Pizza in Scarsdale, N.Y., said he has used Bakers Pride pizza ovens for 15 years. "There are many other pizza oven makers in business, but this is the most reputable one I know of," Mazzotta said. By Demetrius Patterson Staff Writer NEW ROCHELLE, N.Y. A youthful demeanor and energy exudes from 86-year-old Ira Nevin as he tells the colorful story of why many restaurant owners consider him an innovator and visionary in the pizza business.

It's all based on the simple fact that there are very few pizza restaurants on the East Coast, or other regions of the United States, that do not possess an essential piece of equipment that bares Nevin's trademark company name, Bakers Pride Oven Co. The New Rochelle company of 140 employees almost single-handedly started and cornered the market on specialized pizza baking ovens, which helped the pies become one of America's favorite fast foods. It was Nevin's oven innovations and designs that cranked up the pizzeria industry about 50 years ago. Nevin comes from a long line of brick oven builders in Poland who passed the craft down through generations. He learned how to build brick ovens from his father.

But a favor asked of Nevin by a New York City friend, Andrew Virga, in the mid-1940s started the inventor on a quest. Bakers Pride went into business in 1945. "Andrew took me to this little restaurant he owned. He called it a Nevin said. "This is what got me into the business.

Andrew showed me this four-deck oven he was using to bake pizzas. I said, 'It looks fine to me, so what's the 'The he said, 'is that it takes too long. It take 20 minutes to bake this pizza; it should only take 10 Nevin said he immediately went to his father's basement and tinkered THE MARKETPLACE CAREERl 1 i Rocnnncihlo fnr Stocks mostly lower MflETS Rockland stock listings new market development and sales for Norstar, Sadowski has worked for more than 20 years in natural gas supplies for .14220 j.42i0 .4200 .4190 DOW Jones i several other companies including Con Edison, Enron Gas Liquids and New Jersey Natural Gas Co. 4170 industrial average 4 NVSf Sales Close Chg Sales Close Chg Amr.Home 24584 78V4 2H 8qua 32 27H tt ATliT 19857 51 -V USO 602 23H Avon 1111 S9H U-Wff 150 13ft BankNY 3901 32ft -H 2743 117 -V Bectn 999 56H AMIX ChmBank 7638 40ft BairUbs 56 21ft -ft Champion 6207 44ft ft Rrt Empire 0 165 Chrysk 16324 39ft QTC ltd Art Chnfl 5663 Diplomat 3ft 3ft ,710 FadP.p 1405 DtaaaBni 9ft 10 4ft Qannatt 1895 S2ft -ft HudtonTacX 21ft 21ft A 25793 86ft 4ft pyf. 5 5ft 3 IntPapec 5395 75ft -ft Mutual Fund Asats Ctmo LoneStac 516 20ft -ft VohNMMe $15.30 401 Nynai 5178 40ft 4ft OAR 354 32ft ft Cto Ctwa Paw 1214 13ft 4ft Gold J38990 PhannRas 851 10ft 4ft Svw 534 iA0 5 Zaai.

soS v. Volume is in units of 100. 8f 5995 52 -ft Souca. Gary GokJbem Suffem nies were particularly-; strong performers. Market analysts were unfazed by Wall Street's generally weak tone, say-': ing stocks have been poised for a pullback after numerous record-set-1 ting sessions this year.

A.C. Moore, chief in-; vestment strategist at the money management firm Dunvegan Associates Inc. in Santa Barbara, said with the market looking worn out, investors were ready to convert profits into cash. The Associated Press NEW YORK Stocks stumbled to a mostly lower close yesterday despite a government report that suggested inflation remains benign, news that often spurs buying on Wall Street. The stock market started out on solid ground but slipped as the bond market deteriorated.

When bonds recovered, stocks stayed down. One bright spot was the technology sector. Stocks of computer chip compa 824 83 505.53 3.57 1.48 0.03 0.01 0.69 0.50 Nasdaq composite T-bond, 30-year yield T-bill, 3-mo. discount rate NYSE Index Amex. News of promotions and other local business activity can be sent to Assistant Local News Editor Lawrence Aaron, Rockland Journal-News, 200 N.

Route 303, West Nyack, N. Y. 10994, or by fax to 578-2477. 273.29 470.73 i kA-6 M1r1a AA'jtii'i i i-- i -t it iiA iai inrni -i A tm in ia irft i.

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