Philadelphia Daily News from Philadelphia, Pennsylvania • Page 15

THE PHILADELPHIA DAILY NEWS PAGE 15 TUESDAY, OCTOBER 31, 1995 14.82 2.55 Dew Uiuub-iiuJtf 4,756.57 4' U'l' 583.25 I 1,039.70 -ft- 14.15 4318.8 shares He said his firm and three of nine others in the neighborhood hired lawyer Harold Rosenthal to represent their interests. Competitors lost 25 percent to 30 percent of their business since Westside opened, Rosenthal said. casher trying to keep a similar kind of business out of the neighborhood," said Pollock, who represents Westside. Cesar Castano, owner of Delga-do Enterprises, a neighborhood competitor, said there's "only so much business for everybody." PAWN ENFORCER CRIMEBUSTER Remote Alarm Deluxe Remote Alarm seeks wisdom of Solomon 2 Remotes Current Sensor Shock Sensor Auto Reset-Rearm Panic Switch Battery Backup TALKING SEAT COVERS TOPS WINGS CHROME TRIM ALARM Starter Kill ShockGlass Sensor LED Dash Light Light Flasher 2 Remotes Passive Arming Lifetime Warranty StyUcMllt Auto Seat Cover Co. 40 1501-0511.

33RDST. 40-01 10 PI Peter Solomon, 56, whom Strawbridge Clothier has hired to help lift it out of the industrywide retailing slump, is more than just another name in this game. He grew up in the retailing business. His dad was president of Abraham Straus department store and of his mom's 6 MONTHS. NO INTiMST! FREE SHOP AT family i HOME SERVICE from uye f- STAIN RESISTANT HEAVY TEXTURES SMOOTH VELVET PLUSH owned Stop Shop grocery markets.

Solomon made it big at Lehman Brothers AND BERBERS PLUSH OR SCULPTURE 390 FREE jTv IN-MOMI Ji ESTIMATE 5 "jc SAVE30-40ONALL CARPET VINYL FLOORING rim ii mn iriMrarMr-r1 Call Day or twnln Free Shop At I ZZS Home Service 9 Financing Layaway Welcome "To Qualified Buyers Continued from Page 8 chairman for the Wynnefield Residents Association and attorney who represented the group in court. "You usually find them on South Street or in areas starting to take a slide," he said. Overton said other pawn shops have become fencing operations, where goods stolen in the neighborhood nearby are sold. The owners of this proposed pawn shop say it won't be a traditional operation. A pawn shop normally accepts the pledge of personal property for a cash loan.

If the property owner fails to redeem the pledge, the shop sells the goods to the public. The Pawn Shop Outlet plans to buy unredeemed property from other stores and sell it. "You can't go into City Avenue Pawn Shop Outlet and say 'how much will you give me for this VCR' because they're not in that business," said Stephen Pollock, attorney for the shop, whose owners include Stephen Golden and Mitchell Hankin. They operate another pawn shop outlet in Easton, Pa. City Councilman Michael Nutter, who opposes the outlet, said, "This is a business that looks like a pawn shop, it sounds like a pawn shop, it functions like a pawn shop.

I think it's a pawn shop." The store also will cash checks. "We already have three check-cashing agencies, we don't need a fourth," Overton said. A "proliferation of check-cashing changes the character of the neighborhood." Pollock said a court order overturning the zoning board will allow the shop to open. In another case before the zoning board, Rosemary Farnon, president of the Juniata Park Civic Association, said her group opposes plans by Check Cashing Agency, Kensington and Castor avenues, to add a pawn shop. "The check-cashing place is usually low-key," said Farnon.

"When you get into the pawn shop aspect, it invites a lot of busyness, a lot of traffic, different people coming in and out, as opposed to just cashing checks "It's very upsetting to see something like that come into the fringes of the neighborhood when people are trying to rebuild the neighborhood, rebuild the neighborhood spirit." Richard Okomski says his proposed pawn shop will be a service to the public. "Ever go to the bank to borrow money? You know the hassle they give you," said the owner of "Where are poor people going to get the money?" he asked. "They can't go to the bank." And in Fairhill, at 5th Street and Lehigh Avenue, the community is split over Westside Check Cashing Pawn Shops, said Pollock. At the core of the battle is West-side vs. its competitors.

"This, is a case of one check- Airport Marriott to open The Philadelphia Airport Marriott, a $55 million, 15-story, 419-room hotel linked by skywalk to Terminal opens tomorrow. Marriott, which opened its Center City facility 'in January, said the airport inn, which includes meeting rooms and a restaurant, created 280 jobs. Cornucopia of job cuts Fruit of the Loom Inc. said it would slash its U.S. work force by 12 percent by eliminating 3,200 jobs in five Southern states by year-end to improve profitability.

Six plants will be closed and operations will be reduced at two others. The nation's largest underwear maker said the affected plants were in Kentucky, North Carolina, Mississippi, Alabama and Louisiana. The firm's profits dropped 39 percent in the third quarter, to $24.5 million. Resorts earnings up The addition of 10,000 square feet of casino space at Merv Griffin's Resorts Casino Hotel in Atlantic City helped boost third-quarter earnings by 19 percent, its parent company said. Griffin Gaming Entertainment formerly Resorts International reported after-tax earnings of $10.1 million for the three-month period, up from $8.5 million in 1994.

Earnings per share rose to $1.16 from $1.09 last year. Breaking firm's cookies Bennett LeBow and Carl Icahn, famous for waging proxy battles against giant companies, launched a campaign to get RJR Nabisco Holdings Corp. to spin off its Nabisco food business and increase its stock value. LeBow's Brooke Group Ltd. and Icahn together hold about 13 million RJR Nabisco shares, or about 4.8 percent, which Brooke said makes them RJR Nabisco's second-largest stockholder.

RJR Nabisco has about 272 million shares outstanding. GM deals in China General Motors Corp. has signed a joint venture deal in which it aims to build up to 100,000 midsize Buicks a year in China with Shanghai Automotive Industry a major Chinese automaker. Personal income rises Americans' personal income rose 0.4 percent in September, double the increase for consumer spending. The Commerce Department said incomes picked up last month after edging up just 0.1 percent in August, the weakest showing since May.

The department previously reported that incomes were unchanged in August PA: 21 5-442-1 600 NJ, DEL 1-800-222-7824 ft RPaimnii apc. RfTiROfiM 5PC. BRASS GLASS DINETTE ViAii a. Wis ru. Si 1 immms firm and then worked in the founding days of Shearson Lehman A-merican Express before starting his own firm specializing in mergers, acquisitions and restructurings.

In 1994, he and Co. formed the Retail Fund to take minority positions in moderate-sized, established retail companies that showed profits in the $3 million-SlO million range. That venture flopped. But his investment banking firm continues to play in some good-sized games. It got big play in 1989 by helping Dunkin' Donuts resist a hostile takeover before it was sold for $325 million.

It gets credit for working a deal on behalf of the unsecured creditors of R. H. Macy Co. Earlier this year, Solomon predicted that a need to consolidate and cut costs would continue to pump mergers and acquisitions but at lower prices than in the past. There does still seem to be an urge to merge that makes earnings grow.

Industry analysts say there's dealing power left in several department store chains including Federated, Dillards and even the May Co. Solomon has said he thinks Federated, which scooped up Macy's a while back, and May are still on the prowl. And Strawbridge seems waiting to be captured. Harriet Lessy 199 '129 TWIN, FULL, QUEEN DAY BED SPECTACULAR BRASS GLASS TABLE SET 3 PC. Any size-All Coil Bedding Sets 3T BUNK BEDS TWIN SIZE CANOPY BED C0UP1XTT wmi MITRESS BEAUTIFUL UVING ROOM SUITE Soft.

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