Star Tribune from Minneapolis, Minnesota • Page 38

SaturdayNovember 51994Star Tribune MARKETS UPDATE November 5, 1994 aiaepw REGIONAL STOCKS Yesterday's volume 28270,000 462.28, Name Net Pet 500 I I I 1 1 1 1 I 495 490 488 480 475 470- i 405- -i 450 455 460 1 1 1 1 1 1- CNS 7W16 1316 116 HawkC 71A 11ie 10.5 ArdenPd 9V 3a 8.8 What NYSE did: Frl. Thur. Advanced 703 J089 Declined 1503 1050 Unchanged7; 689 765 issues "2895 2905 New Highs 3" New Lows 1 52 1 1 6 NYSE Index: Close CgrnposSa 2,45 Industrial 320.87 3.10 5 -TwwrwWir "'Utility Financial 201.93 1.67 Gainers Last Net Pet. Losers Last Net Pet. Most active Vol.

(000) Ust Net MorgnP 6V4 V2; 8.7 vjHexcel 5Vs 7.9 Abex I-3 WstnGR "1 7.0 CMntlre '1512 Banpaisn 77a V2 6.8 f-Domtar 6.7 XCFemsa 32Va 2 6.6 1 TtiarcA 12 6.5 WCIStln 10 6.4 i. NCTP) 10Vii KColePn 20 BwnSh "6Vi UDCpfA 9V4 WackhAi33A ConeMI '121T 8.7 7.81 TelMex GnMotr IBM J' WalMart Compaq Tennco 4398 56 4252 39V4 3242 lVf 3113" 23 1 "'to': yt 14 1V2 1 Brainerd Km 7.5 DaigCps 17 Vfc 7.1 Champps 5Va 5.0 7.5 A 7.5 ChkTch 5 V4 4.7 1 6.8 6.7 2666 42 .0 S3 J) AudKng 5 316 3.9 78 Lectec 7V 3.6 FUnFtt '20" Alrtran 7V4 V4 3.6 RhPpfA 15 US Surg 21 12 1 1' 6-3 1 6.0" FordM Disney IntGame 2080 2878 982 J9 1972 19 vm i an -m a iun 3 8:309 10 11 12 1 Mark opns Tw1n CltlM Mm a Mark Name Ust Net Pet Open Close Chng.fwl Yettsrday's volume 260,880,000 EMPI VideoUun MPub AplRecy Apertus DigltBk) HlthRsk Diametrc Vaughn MusicLd 7 V2 14 7 10 7V4 7 53A 7V4 14V2 8.2 7.7 6.7 6.7 6.6 6.5 6.2 6.1 4.9 4.9 1 V2 3A V2 Vz 3A Gainers Last Net Pet, Losers Last Net Pet. Most active Vol. (000) Last Net SymWun 10V2 1 20.0 Megatest 978 3, 26.9 Cisco 4312 31V2 jJacorCwt 7V2 1V 20.0 pShawGp 8iVi6 -1 "is 16.91 Novell 3902 18Ve Vie WlsPhrm' lfTTiw' Btogen' 3261 38 VictRnl 7 1 16.7? Center wt 10 1 14.9 MCI 3000 22 Tivoll 53 14.3 Megatest 9 3 NthstrHI 6 14.5 ConceptD "l3iVie -Abrams 5Va 13.9 jf Oroamer 6V4 1 1 3.8 Intel 2406 60 1V2 JackHwt 10V4 1V4 Mllgrays 13 i2.6 Chiron 1978 3 SaratgBv 5Va 13.9 OptexBk) 6Va 12.5 ElcArt 1926 20 1. measures the dally 452.91 Upper Growth Fund Index The Upper Growth Fund Index Net One U.S.

dollar yesterday equaled: .6202 British pounds, previously .6194 DM 1.5125 German marks, previously 1.5195 97.60 Japanese yen, previously 97.90 1.3570 Canadian dollar, previously 1.3567 Name Vol. (000) Last Net UHltCra TeiCmA BestBuy Scimed MMMs GrdCasn DaytHd Buffets Medtms GnMIII 1890 48 20 40V2 4712 53V8 15 80 10 49 57V4 1767 522 427 392 376 328 314 305 299 Vs 1V2 1Vs V4 1V4 12 Name Pet Last Net Scimed CNS EnTUSAh GrdCasn Apertus VideoSen HutchT Datkey Lundlnt BestBuy 2.8 1.9 1.8 1.7 1.4 1.4 1.4 1.3 1.3 1.2 47V2 71316 1V16 15 10 5V2 23V4 3 716 18V4 40V2 W16 316 18 18 316 112 Stock market BOO-, 1 1 1 1 1 1 790 740 730 720 710 700 t-IS S-2S i-30 S.1S -20 TT 10-4 10- 1ft- 10- 11-1 78- Vs 1 fev, Gold $383.80 per ounce from 383.80. Silver $5,285 per ounce from 5.285. West Texas Crude 18.75 per barrel from 18.90. Closing Value 762.09 Percentage for the day Value Change for the day 1 year ago 746.38 Source: Upper Analytical Securities Tobacco Continued from page ID Stocks slide again due to inflation fears, rising bond yields 30lnd.

3855.63 3807.52 20 Tm. 1520.24 1497.88 15UtJ. 180.40 178.16 65Stk. 1294.77 1277.72 38.36 on 7- 1.97 14.55 IT.1 "4 Close Chng. Complnd.

Mfg. Food Rnance 697.61 860.92 204.90" 1848.67 816.74 527.44 0.98 5 5.23 6.06 i Yesterday's closing in London, Frankfurt and Tokyo. LONDONThe Financial Times Stock Exchange Index of 100 issues fell 6.8 points to 3097.60. is FRANKFURTThe 30- share DAX index rose P- she i LJ 16.1 08 points to 2067.56. TOKYOThe 225-share Nikkei average points to 19811.56.

liT il be appropriated by the Legislature Starns also said the arrangement creates a "bounty hunting" situation that would affect Robins' approach and fairness in the case. However, Starns acknowledged thit on three occasions when he was with the attorney general's office similar contingency fee contracts were approved. Ciresi responded that the attorney general has the right to enter anV sort of arrangement if it is in trie public interest and not illegal. 'jjj "Attorney General Hubert Humphrey has said that without the fee, the state would be unable to under'; take this case," Ciresi said. Unde'r the contingency arrangement, the, law firm would receive 25 percertt of any settlement if it wins and nothing if it loses.

On the state's motion to disqualify the five local firms representing trfc tobacco companies because of their continuing representation of government agencies, Deputy Attorney General Tom Pursell said it ws improper for a firm to represent tw0 parties in adverse situations without the consent of both. He cited the motion opposing Robins' fee arrangement as an example of that potential conflict of interests. But attorneys for the law firms ari gued that their agreements were with specific government agencies, not the entire state government. The agencies we work with have nothing to do with this case," said Jack Fribley of Faegre Benson. Choose From What OTC did: Frl.

Thur. Advanced Declined Unchanged tTotal issues 1491,1626 1713 1561 I 5111 5113 New Lows 78 98 OTC Indexes: Close Chng. NASDAQ Comp. 766.08 6.02 NASDAQ hd. 780.28 4.22 NASDAQ Fin.

899.73 VNMSComp. 340.87 2.78 NMShrl mw Yesterdays volume 18,703,000 AM EX closing Index down down to Most active Vol. (000) Last Vlacvrt ViacB USBlosci NY Tim 1118 37V2 666 8. 657 23V4 Vlacmrt 433 43i6 XCL IvaxCp 416 18 12 Nabors 368 73 rometer of inflation, rose 8 cents in October, the biggest increase since September iy3. And the nation's unemployment rate edged lower to 5.8 percent from 5.9 in September, also indicating some strength in the labor market.

The jobs data were "a little less buoyant than had been feared," Metz said, "but not enough to say, 'We're OK and the Fed won't The Federal Reserve is widely expected to raise interest rates at its Federal Open Market Committee policy meeting Nov. 15. A half-percentage-point tightening has been built into market expectations, Metz said. "The big question is what follows," whether the Fed will tighten by another half percentage point before the end of the year, he said. Stock investors fear higher interest rates will lure money from the stock market and into bonds, as well as discourage consumer spending and arrest the economic recovery.

Telefonos de Mexico's American depositary receipts were the most active on the New York Stock Exchange and were up 1 at 56. Kidder Peabody initiated coverage of the stock at a "trading buy" rating, saying earnings would strengthen over the coming quarters. General Motors was second and up at 39'4. Analysts said the stock was correcting for steep losses earlier this year. Biogen skidded 2 to 38 in NASDAQ trading.

The company said its shareholders had sued, claiming federal securities-law violations in connection with the company's decision to stop developing the anticlotting Hirulog drug. development plan. Grand owns 5 1 percent of Stratosphere Corp. The Stratosphere Tower, which is under construction, is planned to be the tallest observation tower in the United States. It is expected to be completed in 1995.

The tower is designed to be a tourist attraction and will include a thrill ride and wedding chapels at the top. The hotel and casino will complete the project at the base, and discussions for the refurbished design have included walk-through fish aquariums and other attractions. Josephine Marcotty local firms as part of the defense team. The list has some of the Twin Cities' largest and most prestigious firms: Faegre Benson, Dorsey Whitney, Lindquist Vennum, Leonard, Street Deinard and Gray, Plant Mooty, Mooty Bennett. The motion to disqualify Robins was based on its representation 15 years ago of the Liggett Group in a Minnesota case that involved allegations of price fixing.

David Sasseville of Lindquist Vennum said Robins violated its past relationship with Liggett when it agreed to represent the state and Blue Cross in a case with allegations similar to the case in which it defended Liggett. "In no uncertain terms, Robins has betrayed Liggett," Sasseville said. "The law requires loyalty, fidelity and trust" so clients will confide in their attorneys. But Michael Ciresi dismissed Sasse-ville's concerns as irrelevant. He said that the bulk of his firm's work for the tobacco company was conducted in 1981 and that it was simply a price-fixing case.

"This case is about smoking and health hazards and a conspiracy to keep that information private," Ciresi argued. "There is no substantive relation between these two cases. This is one of the most transparent motions I've ever seen. They don't want us involved." The defendants also questioned Robins' agreement with the state and Blue Cross for a 25 percent contingency fee. Byron Starns of Leonard, Street Deinard said the arrangement was unconstitutional because all state expenditures must t's hard to imagine Associated Press New York, N.Y.

Stock prices skidded Friday for the fourth time this week, weakened by inflation fears and rising yields in the bond market. The Dow Jones industrial average felT 38.36 to 3,807.52, pushing its weekly loss to 123.14 points, the biggest weekly decline in more than twmonths. The closely watched blue-chip gauge rose 23 points early in the session and remained in positive territory throughout the morning. But it began declining in early afternoon as bond prices deteriorated, pushing yields higher. Jrievy use of computerized selling pfograms in the last 30 minutes of trading took the Dow sharply lower into the close.

We attempted a rally and it failed, so then the traders decided to sell," saW: Michael Metz, chief market strategist at Oppenheimer Co. "this is a market that has great difficulties with high interest rates, rising inflation and anticipation of a rrfove by the Federal Reserve to tighten" interest rates. The 30-year bond fell 1932 point. Its yield, which rises when prices falL-stood at 8.15 percent, punching through a technically important 8.4 percent level. Bond prices headed lower early in the session after the Labor Department issued a mixed report on em-pidyment trends.

It said nonfarm payrolls climbed a moderate 194,000 last month, much less than thfr, 230,000 to 250,000 increase njost economists were expecting. That might have assisted bonds, but the report also said the average hourly wage, a closely watched ba Vzt 14 Workers Continued from Page ID ence of adapting work and working conditions to suit the worker rather than forcing workers to adapt to the design of the machine. In the past decade, health experts have come to view it as the best solution to the repetitive-motion injuries suffered by office workers using computers, grocery store checkout clerks using price scanners and slaughterhouse workers making repetitive knife cuts. Concern over these injuries has mounted as computers proliferate in an emerging service economy. In 1983, about 25 percent of the work force used computers on the job.

Last year it was 47 percent. Half of the people who suffer from carpal tunnel syndrome, one of the major injuries resulting from long use of computer keyboards, lose more than 30 days' work. That is typically longer than absences caused by amputations and fractures, according to the Bureau of Labor Statistics. Lower back injuries make up an estimated 40 percent of all musculoskeletal injuries on the job, and the new OSHA standards will focus on the causes of these problems as well. According to a summary of OSHA's latest draft proposal, employers would be required to identify potential ergonomic problems using a government checklist of five "risk factors." Once a "problem job" has been identified, an employer would have 60 days to fix the problem.

If the problem was too big to fix in that period, an employer would have to undertake a detailed analysis to determine what could be done to make the work safe and then implement appropriate changes. As part of this process, OSHA would require an employer to involve the workers whose jobs would be affected directly by the changes. Workers in so-called problem jobs would be trained in how to deal with the hazards of their work. Employers also would be required to have a medical management program, ensure workers prompt access to medical treatment and, in the case of workers who use computer screens more than four hours a day, reimburse employees for eye examinations and corrective eyeglasses. Many major corporations, including the three major U.S.

auto companies and large food processing companies, have implemented ergonomics programs that go far beyond this proposal. Joseph Dear, assistant secretary of labor in charge of OSHA, denied that the consideration process has been slowed down. "I work on this every day and I'm working very hard to get a standard proposed on ergonomics," Dear said this week. He declined to provide a timetable for release of the proposed standard, but said it would be "soon, as soon as I can do it." Last summer OSHA was telling people the standard would be ready by late fall, but lately even that target appears to be slipping but still possible. Dockers Continued from Page ID to the roster of shows where it advertises.

Some marketers worry that their product's image is becoming too mainstream turn to music. "Music is a very efficient, aggressive way of making a brand name more relevant to a younger consumer," said Stephen Dessau, president of Track Marketing. The New York City-based event marketing consultant convinced MasterCard to sponsor national concert tours last year starring the alternative rock groups Soul Asylum and Catherine Wheel, despite fears over how member banks would react. Said Dessau: "It wasn't easy selling the idea to their bank partners, who were saying, 'You want to do MasterCard ended up giving out 25,000 compact discs to people who signed up for cards. Liquor companies which have faced declining sales for years are especially active in trying to young down.

At Schieffelin Somerset Tan-queray gin was getting a stuffy image among consumers, especially those younger than 35, so in the past few months it has introduced a humorous campaign with a gray-haired character it calls Mr. Jenkins, who serves as a model for the younger crowd on how to be debonair and popular. "Our intent was to show that we are sophisticated and we are prestigious, which Mr. Jenkins is, but he's also lively, he's spirited and he's a little bit devilish," said Deborah Callahan, who oversees Tanqueray marketing at Schieffelin. Another Schieffelin brand, Dewar's Scotch whisky, has been targeting 21- to 34-year-olds for the past year with magazine and outdoor ads it calls "universal truths." One of the latest examples: "Now that you understand splitting a six-pack under the bleachers is no longer considered a date.

Dewar's." Del Monte Foods is targeting younger consumers in its new TV and print ads, trying to convince them that the convenience of canned fruits and vegetables fits in with a '90s lifestyle. In one commercial, a twentysomething man says he likes Del Monte peaches because "they don't have to go in the fridge which is a little full right now" and then opens a packed refrigerator, from which pizza boxes tumble. In another spot, a young woman says, "I don't dice tomatoes. Boyfriends dice tomatoes and I'm between boyfriends." Marketing experts say the effort may fall flat because of the growing popularity of freshness. "A can is about as far away from fresh as you can get, so it's not perceived as top-notch quality," said McCusker, who conducted marketing research for Del Monte a few years ago and found that consumers would prefer different, modern packaging.

"I do not think Del Monte is going in the right many things more luxurious, more extraordinarily pleasurable, more ultimately satisfying than owning a Stressless chair. (Unless, of course, you own two.) Share the luxury of Stressless? Stratosphere completes purchase of Vegas property stratosphere an offspring of Plymouth-based Grand Casinos has completed the purchase of World Hotel and Casino property for about $51 million, the company said Friday. The hotel property is next to the Stratosphere Tower on thi north end of the Las Vegas strip. ICwill be leased to Vegas World operator Bob Stupak until sometime early in 1995, when the hotel and casino will be closed for renovation as part of a larger Stratosphere pro- Lyfc Berman, chairman of Grand and Stratosphere said obtain-in control of the hotel property was a important part of the company's 4 Models To.