The Orlando Sentinel from Orlando, Florida • Page 30

B-6 The Orlando Sentinel, Saturday, December 8, 1990 Barnett buys failed thrift's assets By Brad Kuhn OF THE SENTINEL STAFF said the cuts are not concentrated in any one department or geographic region. "This is economy-related," Stickler said. "The economy has slowed down our business has slowed down." Stickler added that the company's 6,000 highest-paid employees, including Chairman Charles E. Rice, will have raises deferred for at least three months. Rice and other top managers to the executive vice president level will forgo raises for six months.

"We figure it's worth about 150 jobs that we didn't have to eliminate," Stickler said of the deferrals. Barnett's remaining 12,000 employees will not be affected, he said. The bank's profit declined 60 percent in the first nine months of 1990 as the nation slid into its first recession since the early 1980s. Barnett is not the only major bank girding for the recession. NCNB for instance, has said it will not be paying management bonuses.

Last year the banking company, based in Charlotte, N.C., paid out almost $7 million in year-end awpiENirMB Barnett Banks Inc. on Friday assumed the deposits and purchased some assets of Haven Federal Savings and Loan Association from the Resolution Trust a government agency that took over the insolvent thrift earlier this year. Barnett, based in Jacksonville, paid $1.15 million for Haven's $125 million deposit base. In return, the government granted Barnett the right to handpick $123.85 million in assets, including cash and loans from Haven's consumer and mortgage loan portfolio. Haven, based in Winter Haven, has five offices in Polk County.

They will reopen Monday as branches of Barnett Bank of Polk County. Barnett has $31.4 billion in assets and 590 offices in Florida and Georgia, including 49 in Central Florida. Separately, Barnett notified 150 employees this week that their jobs will be eliminated within the next two months. Barnett spokesman Robert Stickler Orange City Open Now! OVER 3,000 ROLLS 2,000 REMNANTS ON SALE! STYLISH MULTI-COLOR SCULPTURE GRAND OPENING PRICE A striking blend of tonal colorations to enhance any room. 100 continuous filament nylon witn a 1 wear Warranty.

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Miller said he does not know who is planning the protest and could not predict how widespread participation might be. Union members this week showed him letters urging pilots to call in sick Dec. 10 through Dec. 12. The letters, which are not and package sorters, threatened to go on strike during the summer.

UPS originally scheduled a response to the union's proposals this month but postponed the next round of talks until Jan. 7, Miller said. "A lot of pilots thought this was a delaying tactic to get the company through the busy holiday season," Miller said. "There's a great deal of frustration among some pilots." The union, however, wants to continue negotiating and views calling in sick as improper, he said. On Friday, Miller sent letters to members informing them that a sickout would be illegal.

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"The proposal laid on the table at the outset called for the elimination of all trade-distorting practices. That just got everybody upset. If we had taken a more measured approach we may have had more success," Gunter said. TRADE from B-1 consumers worldwide because rising protectionism could drive up prices. Florida citrus growers, however, saw at least a partial victory in the talks' collapse.

It means that a tariff of 35 cents a gallon on concentrated orange juice will remain intact. While the tariff helps boost retail prices for consumers, growers contend that it helps keep them in business. U.S. negotiators in the past year offered to sacrifice all U.S. tariffs, including the citrus tariff, in a failed effort to induce the Europeans to make substantial cuts in their own subsidies to farmers.

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But after meeting and speaking with backers, he said, he felt more confident about its success. DeMichele said he plans to sign up for the service. Keith Pedersen of the Trave-lodge Hotel Main Gate East in Kissimmee has also signed up for the service. "I think it's a very good opportunity," he said. "It will help us a little getting the information out to our guests." Namey said the spots will cost as little as $10 for 30 seconds of air time.

"We're a lot cheaper than local television, but that's because we're hitting a different market," Namey said. "We're concentrating more on the business traveler and conventioneer." Not everyone who attended the reception earlier this week went away pleased with Visitel. Patricia Vargo, a sales and marketing associate at Murphy's Lobster House and Kokamo Kafe, said none of the Visitel officials introduced themselves or explained their new product. She said she attended the reception because she wanted to learn about the new program. Namey said the goal of the reception was simply to introduce the product to the industry, not to make a sales pitch.

VISITEL from B-1 attractions, ticket prices, schedules of major sports and entertainment events, and airline schedules. Visitel expects to make money by selling advertising to local attractions. Room-rate information and advertisements for restaurants and gift shops will not be allowed on the channel because hoteliers don't want to promote their competition, backers said. "We're going to give you the information you need in quick form, like CNN does," Namey said. "Everybody watches a little, and nobody watches a lot.

This is going to give people what they want to know in a very short time." Namey also headed the now-defunct Tourist Channel, which was plagued by owner power struggles and legal battles. Namey's brother, Charles Namey, owned the FCC license for channel, which filed for bankruptcy Thursday. "We're trying to disassociate ourselves from the Tourist Channel," Namey said. "We're not a local start-up company like the Tourist Channel. We're going to be a more reliable company." Visitel, based in Las Vegas, broadcasts in 20 other cities across the country, including Reno, Memphis, Dallas; Pittsburgh; and Tampa.

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