The Salina Journal from Salina, Kansas on April 15, 2001 · Page 30
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The Salina Journal from Salina, Kansas · Page 30

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Salina, Kansas
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Sunday, April 15, 2001
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Page 30
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E2 SUNDAY. APRIL 15, 2001 MONEY THE SALINA JOURNAL BUILDING PERMITS Salina Commercial — 1410 E. Irqn, Bill Medina Revocable Trust and Frank Griffith Revocable Trust, footing and foundation, $100,000. 129 N. Seventh, Green Lantern, footing and foundation, $180,000. 2123 Roach, Salina School District, addition and remodeling, $3,789, 603. Garage — 1401 N. Front, Tony Johnson, $11,000. 1814 Gebhart, Steve Rothin- berger, $21,500. Residential and miscellaneous — 2194 Nottingham, Richard Shannon, construct bathroom in basement, $1,350. 2117 Lewis, Javier Contreras, construct deck, $2,000. 1450 Austin Circle, Norman E. Mann, finish basement, $3,000. 236 N. Second, Marrie Buttgenbach, install new windows, $6,500. 236 N. Second, Marrie Buttgenbach, interior renovations, $25,000. 505 W. Iron, Salina Housing Authority, repair porch, $10,400. Single-family housing — 322 S. Estates, William Davis, $102,000. 2460 Dundee Lane, Capital Builders, $300,000. Saline County Garage — 2989 Atkins, Steven Atkins, $4,000. 3697 N. Niles, New Cambria, $10,900. Residential and miscellaneous — 3047 Sundgren, Larry Peters, construct storage, $1,200. 920 Pearl, George Goracke, construct agricultural storage, $12,000. BRIEFLY Foley Supply opens in new location Foley Supply is open for business in its new location at 529 N. Broadway Foley Supply is the first Caterpillar equipment rental store in the Salina area. The new store offers a full line of Cat building construction machinery as well as the new line of Cat compact construction equipment, said Patrick Foley, president of Foley Supply Foley Supply also carries preferred brand-name equipment and specialized tools for the construction and industrial industries. Foley Supply offers daily weekly and monthly equipment rentals, on-site delivery and equipment purchase opportunities. For more information, call the store at 825-1160. From Staff Reports PERSONALS Diane Turner has been hired as the department secretary in the Saline County commissioners' office. Turner had worked for Louisiana-Pacific Corp. Airfares from Salina T TOY BUSINESS Destination Price Destination Price Denver $208 Atlanta $238 Las Vegas 390 Baltimore 292 Los Angeles 545 Boston 246 PHoenIx 506 Chicago 256 San Francisco 421 Orlando 322 Seattle 442 St. Louis 290 All fares are the cheapest round-trip prices from Salina Municipal Airport as \sj. of the pre- t*^*-. vious ^f ^^M^-^ Thursday. 4_ Various re- """"^ strictions apply. Source: Action Travel Journal Graphic Bill Grammer Vice President Mortgage Lending Quite simply, Security. Security Savings Bank 317 S. Santa Fe 1830 S. Ohio, Salina 785-825-8241 Equal Housing Under, MEMBER FDIC. KB Toys puts stoclc in future Newly privatized company focuses on long-term goals By JUSTIN POPE Tlw Associated Press PITTSFIELD, Mass. — When he needs a break, KB Toys CEO Michael Glazer goes for a drive — in the sit-down arcade-style racing game that occupies a corner of his office. On his coffee table is a gyrating, battery-powered stuffed dog that belts out "Who Let the Dogs Out" at the push of a button. And down the halls, stuffed animals are perched in nearly every office cubicle. "We never get depressed around here because we can always come play with the toys," Glazer said. In recent months, the mood around KB's headquarters has been even lighter than usual. The company, with a 6 percent share of the $30 billion U.S. toy retail industry, is back on its own after two decades of being a subsidiary KB's managers, with the backing of a Boston-based venture capital firm, bought out the 1,300-store chain from Consolidated Stores Corp. for $300 million last December "Consolidated never believed that Wall Street gave them the value for KB they thought it deserved in the marketplace," Glazer said. A positive change The change has been good for all concerned, Glazer said. "We have more of a sense of ownership," said Leah Hahn, a field communications manager "This is our company" Sitting in the company's toy- adorned boardroom, Glazer says there are advantages to be- T SALINA BUSINESS KBToysfajfits HEADQUARTERS: Pittsfield, Mass. , FOUNDED: 1922, as a candy company by Harry and Joseph Kaufman. EMPLOYMENT: 13,000 OPERATIONS: Mall- based toy retailer, with • more than 1,300 stores in all 50 states, Washington, D.C., Puerto Rico and Guam. SALINA STORE: In Central Mall, 2259 8. Ninth. Phone: 827-2275. ing private. "As a public company, if a store wasn't performing in a relatively short period of time, you'd say 'Wait a second, we better close it and get out,' " Glazer said. Now, KB is freer to concentrate on its long-term goals. "We're still very focused on our month-to-month composite sales and our quarterly earnings," he said. "It's just we don't feel the same ultimate pressure because Wall Street and the public marketplace are always demanding a certain increase every month." KB was founded in Pittsfield by brothers Harry and Joseph Kaufman in 1922 as a candy business. When sugar went scarce during World War II, they switched to toys and gradually expanded around the East Coast and beyond. Kaufman Brothers changed its named to KB in 1977, and it was acquired by Melville Corp. in 1981. Consolidated took over in 1996. KB is now trying to build its Internet presence to keep pace The Associated Press Michatel Glazer, CEO of KB Toys, takes a break from work to play an arcade video game in his office at the company's headquarters in Pittsfield, Mass. with profound changes in the toy industry Its challenges also extend to its core business: the small KB stores that are fixtures in shopping malls. Chris Bern, an independent toy consultant, says mall shoppers are demanding more than just goods on the shelves these days. "You look at how the entire mall is in transformation," Bern said. "It's not just walk in and pick up the toy It's go to the Disney Store, maybe take in a movie, build a.real day of entertainment." KB will have to do more to keep up, he says. "They've got this huge equity of the presence in the malls," Bern said. "It's time to define that personality, in light of how toy shopping is happening now." The very nature of toys has changed, with the emphasis growing toward video games — now 20 percent of KB's business — and children showing an earlier preference for teen and adult products. On the retail end, giants such as Wal- Mart and Kmart are getting ever more aggressive in toys. Then there's the Internet. KBKids.com got off the grpund in 1999, with the merging of KB's own site and BrainPlay. •com. Glazer admits the site was creamed while pursuing an initial public offering. "We did a lot of, from a business standpoint, foolish things," he said. Some good news for KB has come out of the demise of dot- Parks purchases 50 percent stake in Top Hat Cleaners New majority owner aims to hike business by 30 percent in 2001 By DAVID CLOUSTON Tiw Salina Journal Salinan Jim Parks has purchased a majority ownership in Top Hat Cleaners, 1322 E. Iron, from the business's founders, Dave and Mike Payne. The Paynes opened the cleaners in August 1990. Dave Payne is president of Payne Oil Co., 409 W. North, and Mike Payne is an agent with Coldwell Banker- Antrim Piper Wenger Realtors. "As my brother and I both got busier with other things, we've had less time. When Jim expressed an interest, it piqued our interest in bringing someone on board to take over some of the dry-cleaning duties and having an ownership interest," Mike Payne said. Parks purchased a 25 percent interest from each bi-other for a 50 percent stake in ownership. Parks is a friend of both men and was a classmate and swim "Jim brings a lot to the table. He's got a lot of good experience in management." David Payne minority owner of Top Hat Cleaners on Jim Parks, the business's new majority owner team competitor with Mike at Central High School. Parks has a mechanical engineering degree from Kansas State University and formerly worked as a manager for a pipeline company and for Exline Inc. in Salina. "Jim brings a lot to the table," David Payne said. "He's got a lot of good experience in management." Top Hat Cleaners is open from 7 a.m. to 7 p.m. Monday through Friday and 8 a.m. to 2 p.m. Saturdays. The business also has laundry pickup and delivery service available at Southgate Coin Laundry 2013 S. Ohio, and Dillons at 2350 Planet. "This was just an opportunity for Mike and I to get together and join forces," Parks said. "It's a new adventure for me as far as the technical end of it." Parks said one of his goals for the business is to increase sales by 30 percent by the end of the year The cleaners has upgraded its service by upgrading equipment and installing a new Uni- press shirt pressing machine. The machine combines pressing of the collar and shirtsleeves in one step, something formerly accomplished with two machines. Shirt laundry makes up about 40 percent of the store's business. Parks said. For complete stock listings go to saliownal.com „the Salina Journal "online Connecting communities with information Foot Care Tips to Help You I .Take care of your diabetes 2. Check your feet every day 3.Wash your feet every day 4. Keep the skin soft & smooth 5. Smooth corns & calluses gently 6.Trim your toenails when needed 7.Wear shoes & socks at all times 8. Protect your feet from hot & cold 9. Keep the blood flowing to your feet 10. Be more active 11. Check with your doctor 12. Get started now DIABETES &YOUR FEET "DON'T IGNORE AN IMPORTANT PART OF YOUR DAILY CARE" Daily foot care is very important to the diabetic patient but overlooked. We at B&K are trying to help. We are now stocking a number of foot care products for the diabetic, including special foot creams and lotions, diabetic socks and footv/ear especially for the diabetic patient. Ambulator® Confort n*Care^" Socks •Seamfree Socks •Uniquely constructed for circulation & protection •Made from composite of CoolMAX®, Lycra®, and Polymide^" •Wick moisture & Stay in Place www.bkrx.com PRESCRIPTION SHOP People Helping People...Live Healthier Lives 827-4455 / 1-800-432-0224 • 601 E. Iron, Salina, KS com competitors such as eToys and Toysmart'; But there's also bad news — Toys R Us and Amazon.com, which agreed to sell toys together last year, are dominating the online market, with sites run by Wal-Mart and Kmart grdwirig fast. According tb the most recent monthly figures from Jupiter Media Metrix, KBKids.com had about 2 million visitors last November, about a third as many as Toys R Us., But Glazer iremains positive, pointing out: the compound growth rate for the toy business over the past 20 years has been 6 percent. Tastes will change, but demand for toys will never disappear "Christmas: will always come," he said. J. Doug Jolley, Financial Advisor • Personal Financial Planning • Tax Planning Strategies • Mutual Funds • Investment Certificates • IRAs/Keoghs American Express Financial Advisors, Inc. Member NASD 1015 Elmhurst Blvd. • Salina, KS 67401 785-^827-8766 Streetf Relax With The Insured Safety And Easy Access Of High Performance Savings Bonus Rate 00 /o APY Earn 5.00% APY bonus rate on new accounts with opening deposits of $10,000 or= more through June 30, 2001. Why worry about an unpredictable market? Get instant access and security with a bonus rate of 5.00% APY on new accounts with opening deposits of $10,000 or more. You get instant access to your money - including ATM access at thousands of locations and insured safety. Hurry, bonus rate is good now through June 30,2001. Commercial FederaLBank Insured by t=DIC Better Banking. Every Day.. 2040 South Ohio, Salina • 452-9975 For Personal Banking Sen/ice or for the agent nearest you call 1-800-742-5772. www.comfedbank.com *$1(),{KMI iiiinimuni balance rcquirL-d. Muximiim $2(H),(){Kt deposit per liouschold. Fees could reduce the earnings on the account. Annual Percentage Yield (Al'Y) is accurate js of 4/15/01. 5.1H)% bonus rate is good through June 30, 2001, at which time rate will revert to normal liigli Pcrfonnancc Savings rate.

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