The Orlando Sentinel from Orlando, Florida • Page 63

Financial Sentinel Star Orlando, Hriil Thursday, November 10, 1977 7-D State's economic future bright 1 1 Jl Tl 1 I i Auaclaltd Nil Dltpalck MIAMI The economic future for the Sunshine State is bright with only a few potentially dark clouds on the horizon, say experts assembled by the Southeast Ban-king Corp. The panelists presented facts and figure about the state's economic outlook to a group of about 70 securities analysts. WILLIAM S. Rubin, president of Jordan Marsh department stores, said retail sales in Florida rose 3.5 percent to $31 billion last year and he predicted continued strong gains in the next few years. And Southeast Banking economist Thomas B.

Walker told the group that 1977 "has been a good year and 1978 should be better" in Florida. He predicted "strong" activity in both residential and non-residential construction. State estimates are that Florida's population will grow at an annual rate of 2.2 percent for the next 25 years, Lt. Gov. Jim Williams told the group.

AND CHARLES E. Cobb, president of Arvida says surveys by his development company indicate annual population increases of 2.5 percent in the next five years. He said that translates into about 20,000 new housing starts each year during the five-year period. One-third of the new homes, Cobb said, would be built in southeast Florida. "Some little things are worrisome," he admitted.

"Housing costs are too high for a large percentage of the buying market." Cobb and others also expressed concern about the tourism industry. "THE QUALITY of tourist fad-lities is declining," Cobb said. "The quality has to be improved for us to continue our dominant position in tourism." Charles J. Simons, executive vice president of Eastern Airlines, also cited increased competition. "There now is intense competition for the tourist business from markets that previously were not competitive with Miami," he said.

"Places like Hawaii, Majorca and Las Vegas." SIMONS SAID Florida tourism is "very healthy," but recent growth has been centered in Central Florida in the Orlando-Disney World area. He expressed optimism about the proposed $55 one-way New York-to-Miami airfare proposal, which is being studied by the Civil Aeronautics Board. The fare, seen as method to lure more tourists to the area, was proposed by Delta Airlines and quickly copied by Eastern and National. "I'm convinced the $55 fare will occur and it will boost tourism in the Miami area," he said. MARSHALL McDONALD president of Florida Power and Light said both power consumption and customers is on the rise in the state.

A 't 9 -r- 9 ,7, 4" I Altamonte KMart opens today menal. The company expects to South America while Nelson will hit $12 billion in sales by 1979, and take up residence in London to $16 billion by 1982. handle Documation les in other areas of the world. Dick Marlowe Business Editor Mart Corp. continues its march through Florida with the grand opening of a store at 10 a.m.

today on State Road 436 in Altamonte Springs. The company, formerly known as the S.S. Kresge has come a long way since 1899 when Sebastian S. Kresge borrowed $8,000 to go into the dime store business with J.G. McCrory.

MART GOT its start In 1962 when Harry B. Cunningham, chairman, became convinced the discount department store was the answer for future retail operations. When the Altamonte Springs store opens today, it will become the 61st Florida store and the store in the nation. Like most of the stores, the Altamonte Springs Mart provides employment for 70 local men and Senttntl Star Photo Expansion by Bishop brings name change Bishop Office Equipment Co. founded in 1937, has outgrown its name.

William D. "Sonny" Bishop, chairman, said the firm will be known as Bishop Office Furniture "to more fully identify the services offered." The East Colonial Drive showroom has been expanded recently and the design group now occupies separate facilities at 1800 E. Hill- Documation planning worldwide marketing Documation Melboifrne-based manufacturer of computer products and subsystems, has formed domestic and international marketing organizations to keep pace with the company's growth over the past 10 years. John C. Sterling has been named vice president in charge of domestic marketing; and Ken Nelson, vice president-international marketing.

Sterling will take on marketing responsibilities for North and Moving pictures women. Additional employees will be added in peak seasons. CUNNINGHAM'S $80 million gamble in introducing discount department stores has paid off handsomely in terms of sales. In 1966. four years after the first Mart opened in Detroit, sales hit $1 billion for the corporation.

In 1969, sales hit $2 billion; in 1971, $3 billion; in 1973, $4.6 billion; and last year, $8.4 billion. In 1977, Mart will open 160 new stores. Future sales goals are pheno- Bus passengers may soon be carrying boxes of popcorn along with their luggage, as Trailways Inc. begins screen-testing movies on its New York-Miami run. Dennis Barron (pictured) Trailways senior vice president for marketing, says the movies are an attempt to recapture some of the ridership buses have lost in recent years.

The movies will be tested through Christmas and could go nationwide soon after that. crest. Nation's Business GreaS Mews, Orlando Georgia to hard sell tourism U.S. dollar rebounds on European market Ik WMMhl WM Over 10,000 biting I Gas-saving radial at least 20 days. Carborundum Co.

called the offer "inadequate." Combustion Engineering Inc. said it now controls about 92 percent of the common stock of Vetco Inc. Vetco's board had recommended acceptance of the Combustion Engineering tender offer of $23 a share. The offer ends Nov. 18.

0 Wm. Wrigley Jr. Co. knows of no reason to account for the activity and higher prices in its stock over the past two days, said William J. Hagenah, treasurer.

The stock was up around 3 points Wednesday after a rise of 4l2 Tuesday. Hagenah also said he is unaware of any report by a brokerage house that could account for the sudden spurt. 0 The Laker Airways Skytraln service linking New York and London made a profit of $511,600 during its first six weeks, chief Freddie Laker said Wednesday. The daily widebodied DC-10 flights had 82 percent of their 345 seats filled during the past six weeks, he said. The dollar rebounded in Europe Wednesday after Federal Reserve chairman Arthur Burns said the Fed was tightening up the growth rate of the nation's money supply.

According to the latest figures, the money supply grew at a 9.9 percent annual rate during the two months which ended Oct. 26, exceeding the Fed's target of 4 to 8 percent. The dollar rose to 2.26 German marks from 2.2465 Tuesday, and firmed to 2.223 Swiss francs from 2.218 Tuesday. The dollar also rose 4.15 centimes to 4.8815 French francs, the highest exchange rate there in a month. Meanwhile, the price of gold hit $167.80 in London Wednesday, up $1.50 from a day earlier and the highest price for the metal since the spring of 1975.

0 0 0 Eaton Corp. said it intends to offer to purchase common shares of Carborundum Co. at $47 a share, in a tender offer that will begin as soon as possible and will last for construction, smooth-riding polyester cord body VVVi edge grip the road. pSrvVv help I yPT hydroplaning I Now you can buy an all-season radial that can handle all kinds of weather, any time of the year. The reason is Tiempo's combination of radial construction, special rubber compound, and aggressive tread.

Tiempo gives you confident handling in rain. traction in mud or even snow. A new kind of tire for every kind of weather Tiempo! United FrtM international OliMldi GAINESVILLE, Ga. Gov. George Busbee announced Wednesday Georgia's tourism effort would shift to a "hardsell" approach on the state's vacation attractions rather than trying to divert Florida-bound travelers off interstate highways.

"It is my hope, with the cooperation of our legislators, to beef up our budget and proceed with a new and exciting concept for making Georgia a destination state for tourists, rather than just an intercept state, trying to pull tourists off the interstates," Busbee said at a Chamber of Commerce luncheon. HE SAID advertising in the future would promote seven specific regions and tout the state's diversity. "In the past our advertising approach has been on a general basis and hasn't had a specific hard-sell approach," the governor said. Busbee did not outline all seven regions, but said they will include the "colonial coast" from Savannah to Brunswick and the ante bellum "classic South" around Madison and Augusta. Other regions -would include the mountains, urban Atlanta and President Carter's home region in southwest Georgia.

HE SAID stepped up advertising in 14 key markets would include coupons listing the regions so that respondents could pick out those they preferred. At present, the state has a captive audience of 4.5 million motorists passing through1 to and from Florida, the governor said. (till (fAiHlf llraT'll Double steelcord y''7d belts tor strength and 'MVZA ''Wkfy'ty: longwear 1 Mike Pollick Ex-REA president indieled P18575R13 (BR78-13) whitewall plus $1.93 F.E.T. and old tirs Ilk ney to finance Kole's personal horse racing business, to pay off Simpson's personal loans and "to pay cash to politicians." THE INDICTMENT does not name the politicians who allegedly received cash. REA, the nation's largest ground and air express service, declared itself bankrupt in November 1975.

The alleged conspiracy covered the period from December 1970 to November 1975. United Prtit International DKpatdi NEW YORK Tom Kole of Miramar, the former president of REA Express was accused Wednesday of taking part in a scheme to embezzle more than $100,000 from the now-bankrupt firm's funds. The federal indictment alleged that Kole and co-defendant Richard Simpson of Jacksonville, REA's former vice president for marketing and sales, used the mo WHITEWAUS IfTS Plus Metric Fits 1m1 Ff.T.and Tin Size ICjJ old bra P19575R14 ER78-14 $53 $2.38 P20575R14 FR78-14 $57 $2.44 P21575R14 GR78-14 $59" $2.61 P22575R14 HR78-14 $64 $2.82 P20575R15 FR78-15 $2.68 P21575R15 GR78-15 W1 $2.68 P22575R15 HR78-15 "$66 $3.12 P23575R15 LR78-15 $7T $3.20 Scufl Bar helps protect white-walls against curb (cutis and damage Specially compounded tread rubber maintains its grip in wet or dry, hot or cold Late buying wave gives mart modest gain Liberal Budget Monthly Payments ponse, either positive or negative, to comments by Arthur Burns, the chairman of the Federal Reserve Board, before the Senate Banking Committee. BURNS DEFENDED the Fed's moves in recent months to tighten credit, arguing that inflation fears would have mounted strongly had the central bank not acted to restrain monetary growth. He said the Fed had slightly reduced its target growth rates for two broader measures of the money supply known as M2 and M3 while keeping its target for the basic measure, Ml, unchanged.

Some brokers added, however, that the market seemed to benefit from a strong showing by the dollar in foreign exchange markets, which was attributed to continued stress on monetary policies aimed at curbing inflation. Associate Prats MiMldi NEW YORK A wave of buying just before the close enabled the stock market to post a moderate gain Wednesday. The Dow Jones average of 30 Industrials, on the minus side from early in the session through as late as a half hour before the close, wound up with a 2.16 gain at 818.43. ADVANCES OUTNUMBERED decline by about a 9-5 margin on the New York Stock Exchange, and the NYSE's composite common-stock index picked up .26 to 818.43. Big Board volume stepped up to 21.33 million shares from 19.21 million Tuesday.

Analysts found little evidence of a strong res TIRE COMPANY 2270 N. SEMORAN BLVD. WINTER PARK 678-3636 A i.