Statesman Journal from Salem, Oregon • Page 16

STATESMAN JOURNAL THURSDAY April 7, 1994 Salem, Oregon Business Editor Joan Drake 399-6738 PAGE 6 Gold: $384.60, up $0.10 (Republic National Bank) Silver: oz. (N.Y. Comex) Sots Ms fflim Dsifl nigitLoQoFS McMinnville manager joins development group McMINNVILLE The manager of the McMinnville Downtown Association on Wednesday I1! th 7r 1 "1 7 1 mis picket walks outside the Yellow Freight tf 1 --Milium mil Uywt I r.m Ron CooperStatesman Journal System Inc. office Wednesday afternoon at 3020 22nd St. SE in Salem.

Teamsters shut down 22 firms 1980s. Only minor, scattered violence was reported. The initial impact was minimal for businesses, but factories and retail stores, many of which have adopted policies of keeping lean inventories in recent years, could be vulnerable to serious shortages if the strike lasts a week or more, transportation observers said. "If we get into week two, inventories get drawn down and things start to get serious," said Douglas Rockel, a trucking dustry analyst at Merrill Lynch Research. "After two weeks' time, we could start to see shortages and prices might be in was named the Main Street coordinator for the Oregon Downtown Development Association.

Malcolm Johnstone, who began managing McMinnville's association in 1986, will work at the organization's main office in Port Malcolm Johnstone: Will assist fund-raising land in a half-time position for six months. Johnstone will replace Kate Joncas, a technical assistance coordinator who left the Portland office last week to become a downtown manager in Seattle. Johnstone said his new responsibilities will include providing assistance in fund raising and renovation efforts in Oregon's 10 certified Main Street downtown centers. Tektronix unveils stock offering for spin-off firm FOREST GROVE Officials of Tektronix Inc. have announced they will make as much as $38 million when the firm spins off its circuit board division as a new company called Merix Corp.

The high-tech company will sell up to 65 percent of Merix through a stock offering in May, which could fetch as much as $12.50 a share. Tektronix unveiled its plans in a Tuesday filing with the Securities and Exchange Commission. SEC will further regulate municipal bond market WASHINGTON Stock market regulators, concerned with corruption in the municipal bond market, have approved restrictions to the political contributions Wall Street firms can give to local officials. The new rules, approved Wednesday by the Securities and Exchange Commission, rank among the strongest reforms ever in the $1.2 trillion muni bond market. The market raises money for local sewer systems, schools and a host of other government services.

Honda recalls vehicles for transmission defect DETROIT, Mich. Nearly 200,000 Hondas and Acuras are being recalled to correct possible defects in cars with automatic transmission shift mechanisms. American Honda Motor Co. said Wednesday that a clip that connects the shift cable to the shift lever may fail so that the lever doesn't match the actual gear position. No accidents or injuries related to the defect have been reported, the Torrance, Calif.

-based American Honda said. Affected vehicles are: 1992-94 Honda Civic coupes, sedans and hatchbacks; 1993 del Sols; and 1994 Acura Integra coupes and sedans. Airline eliminates weight standards 7 WASHINGTON USAir flight attendants won't need to choose between losing a few pounds or losing their jobs, after the airline agreed Wednesday to eliminate weight standards. USAir agreed to drop the standards to settle a 1992 lawsuit filed by the U.S. Equal Employment Opportunity Commission, said the airline and the Association of Flight Attendants, AFL-CIO.

7 Ijl SLOW PACE: A Teamsters union the strike nor discuss whether the company planned to hire temporary workers. Gary Czapla and Mel Bushman, truck drivers for Yellow Freight, picketed outside the Salem terminal for Roadway Express at 1415 McDonald St. NE Wednesday. Both men arrived at the site around 9 a.m. to relieve strikers at Roadway Express who had been at the picket line earlier that day.

There aren't too many of us in Salem," Czapla said. "We're surprised that (the strike) would happen. We didn't think it would come to this," Czapla said. "We just hope it ends soon." The Associated Press contributed to this report. fill i.Vv:i.

9 a Teamsters picket at Consolidated Freight, Roadway Express and Yellow Freight Systems. By Kay Kusumoto The Statesman Journal In Salem, 28 striking workers picketed local terminals of the freight-hauling companies named in the strike by the Teamsters union. Darel Aker, secretary-treasurer of Teamsters Local 324, said the strike had shut down local deliveries at Salem-area terminals of Consolidated Freight, Roadway Express and Yellow Freight Systems. The three companies are the only local firms targeted by the strike, which affects 22 haulers across the nation. The companies transport mostly finished goods, from general retail commodities to manufacturing materials, directly to businesses throughout Marion County.

Picket lines also were set up Wednesday in Portland, Eugene, Medford, Ontario and Madras as 1,850 Oregon Teamsters joined the national strike. Terminals for Consolidated Freightways, Yellow Freight Systems ABF Freight System Inc. and Roadway Express Inc. were affected. While Aker agreed consumers will not feel the effects of the strike, he said businesses probably would if it lasts longer than a week.

Aker said he had no idea how long the strike would last. At the Salem terminal of Yellow Freight Systems, branch manager Roger Burgess said the eight truck drivers and dock workers were honoring the strike. From Salem, Yellow Freight truck drivers cover Salem, Cor-vallis, Albany, Lebanon, Wood-burn, Brooks, Gervais, Silverton and Mt. Angel. Burgess would not comment on the strike.

Pam Blossom, a spokeswoman for Akron, Ohio-based Roadway Express, would not comment on Kids' money accrues in school bank By Sherri Burl The Statesman Journal Keizer Elementary School students started saving early by opening bank accounts at the school Wednesday morning. About 120 kindergartners through sixth-graders opened savings accounts with Washington Mutual, through the bank's school savings program. Carrie Media and Gina Lucas, who work at the bank's North Salem branch, and four parent volunteers assisted the students. For 60 students who wanted to open accounts but forgot to bring money, Washington Mutual covered the initial 25 cent deposit. One child deposited $178.

Jan Koch, a parent volunteer, said the average deposit ran about $1. Her son, Ryan, a fourth-grader, deposited his entire monthly allowance. "We told him whatever he put in we would match," Jan Koch said. "So he was real encouraged to put his whole allowance in." The program may not appear to be the most cost-effective way Stocks CIom Albertson's 29 'A Bloect 3V4 Bank of Salem 17V4 Boeing 45 Vi Boise Cascade 24 Coachmen Ind 17V4 Com'l Bancorp 15'i Dayton 77' Epitope 15 First Security 2BV4 Fred Meyer 40V4 Hewlett Packard 81 Vt House of 6V4 Intel 69 Int'l Yogurt Co 6 James River 17 KeyCorp 31 Longvlew Fibre 18 Mentor Graphics 15 'A 69 29 Nike 54 ii 42 NW Nat. Gas 32 OreMet 5 Oregon Steel 22 V4 49 Stocks PaclflCorp Pacific Pope Talbot Portland Gen Precision Price Rledel Safeco Sequent Starbucks SuperValu Tektronix Tlmberllne T.J.

Int Unlvar U.S. Bancorp Wash. Energy Wash. Fed. Wash.

Mut. Western Bank West One Weyerhaeuser Willamette Ind WTD Industries This Information by Smith Chaotic markets still close on a high note Timothy J. GonzalesStatesman Journal STOCKPILING: Kenneth Rogers, a kindergartner at Keizer Elementary School, receives a package of information from volunteer Pam Alguire, after opening a savings account with Washington Mutual. The thrift introduced a school savings program Wednesday. U.S.

factories and retail stores will feel the effects if the strike lasts more than a week. The Los Angeles Times In the first nationwide trucking strike in 15 years, the Teamsters shut down 22 large trucking companies Wednesday, raising fears of serious disruptions to commerce if the walkout continues. About 75,000 Teamsters across the United States walked picket lines in one of the largest labor strikes since the mid Si if Lucas said. It will start up again in October. She said Washington Mu-tual's North Salem branch plans to introduce the program to another local grade school during the next school year.

Nearly 8,000 children throughout Washington and Oregon participate in Washington Mutual's savings program. "The earlier children learn about managing money, the better prepared they will be for the future," said Joe De Vera, the manager of Washington Mutual's North Salem branch. Agenda Today Independent Business Breakfast Club 7 am, Carrow's, 2840 Commercial St SE, Salem. Information: 581-4549. Willamette University College of Law Program on institutionalizing ecological ty sustainable development, 8:30 am.

in the College of Law, 245 Winter St. SE, Salem. Cost: $195. Information: 370-6877. The Computer Store Level 1 PageMaker for Macintosh, 9 444 Ferry St.

SE, Salem. Cost: $119. Information: 375-7700. Software Association of Oregon Tools Fair, 11 am, Sequent Computer Beaverton. The SAO will hold its monthly meeting in conjunction with the fair at 6 p.m., Sequent Computer with a charge for refreshments.

Information: (503) 520-1977. North Salem Business Associa creased." The 22 companies paralyzed by the strike move about 18 percent of the nation's total freight. However, they control at least half of all mid-size shipments moved over distances. Nearly every Fortune 500 company and countless smaller companies rely on them to deliver everything from auto parts to computers, clothing and home appliances. But the companies move little in the way of food shipments, which are transported primarily by nonunion companies or store-owned fleets.

ECONOMY days of wild swings. Bond prices ended fiat to slightly higher, with the yield on the benchmark 30-year bond unchanged at 7.24 percent. Investors remain uncertain about whether the recent declines, which before Tuesday's sharp advance had devalued the market about 9 percent over two months, were over. Tuesday, the Dow average jumped more than 82 points and the Nasdaq index soared about 23 points. It was the Nasdaq's biggest one-day gain since 1987.

A turnaround in the bond market helped push stocks higher. That strong performance followed seven dreary trading days, with stocks depressed by sharply higher long-term interest rates. Rising interest rates hurt the stock market because they make share prices less appealing relative to interest-bearing investments and increase the cost of money to corporations. Over time, higher rates can hurt corporate profits and slow the economy. Tax Tip If you sold an inherited investment be sure to use the special rules for figuring the taxable gain on inherited property.

Normally, investors have to pay capital gains tax on the asset's appreciation since it originally was bought. So if you paid $10 for a share of stock that you sold for $50, your taxable gain is $40. With inherited property, you pay income tax on the asset's appreciation since the passing of your loved one. Gary Klott, Gannett News Service Stocks continue to rebound from a bearish week as the Dow climbs 4 points. The Associated Press NEW YORK Stocks bounced around with the bond market on Wednesday, ending mostly higher and extending the previous session's recovery after days of sharp losses.

The more volatile Nasdaq index of smaller company shares, however, ended lower for the day. The Dow Jones industrial average rose 4.32 points to 3,679.73. Advancing issues outnumbered declines by about 4 to 3 on the New York Stock Exchange. Volume on the floor of the Big Board came to 300.80 million shares as of 4 p.m., down from 365.97 million in the previous session. Stocks followed the bond market back and forth throughout the day as worried investors looked to interest rates for guidance.

Trading ranges, however, were relatively narrow after tion Monthly meeting, Mike Whitehead, Statesman Journal executive editor discusses creating positive community image, noon, Lum Yuen Restaurant, 3190 Portland Road NE, Salem. Mid-Willamette Private Industry Council and Jobs Council Meeting, 3:30 p.m., Quality Inn, 3301 Market Street NE, Salem. Information: 399-2300. Impact Business Consultants Seminar on financial planning for minority and women business owners, 5 p.m., Rooms A and 21st Floor, First Interstate Tower, 1300 SW Rth Portland. Cost: Free.

Information: (503) 245-9253. Chemeketa TED Center WordPerfect 1, 5 p.m., Room 259, Building 3, Chemeketa Community College campus, 4000 Lancaster Drive NE, Salem. Cost: $50. Information: 399-5181. Chemeketa TED Center The Eight P's of Marketing, 6:30 p.m., 365 Ferry St SE, Salem.

Cost $25 first person, $10 second person. Information: 399-5181. Market Report Stocks of Local Interest to round up deposits, but Lucas said that isn't the point. The aim is to teach children how to save. "In Washington, where this program started, people have become lifetime savers.

Some customers come in with their savings pass book and say things like, 'I've been saving here since The "bank," consisting of a Macintosh computer used to record deposits and parent volunteers as tellers, will be open for business every Wednesday until the end of the school year, The Dow Industrials Thu Frl MonTknWwl OTHER INDEXES Close Change 20 Transportation 1651.08 3.97 15 Utilities 196.08 1.92 65 Stocks 1310.23 0.22 Volume 300.80 million shares 3680 1 r-JTt VM, I Close 3679.731 3640- I32, 1 3620 3600. 0 vuav 0 Super Valu Food wholesaler and retailer 140-f $38.50 i 38 36 ill ad 30 WHk't Hose for past 12 weeks. ExctirtgOTC-! $34 625 Ira Close 17 24 25 17 35 ..........17 2 52 1 3 26 33 30 1 7 7 23 10 24 16 SAL 21 Sav.Bank 19 16 Bancorp 26 43 49 4 Is provided Bamey Shearson..