South Florida Sun Sentinel from Fort Lauderdale, Florida • Page 31

rvTTinnn Sun-Sentinel, Tuesday, June 12, 1990 Section JACK NEASE Staff Columnist TENTATIVE DEAL Jl 1 1 iv immi mm teimUss irceaicslh poet Donald Trump's major lenders are working on a plan to bail out his financial empire: WHAT TRUMP GETS: An additional $60 million to ease his cash shortage. He also would be allowed to suspend interest payments on about $2 billion in bank loans. WHAT BANKS GET: Trump has pledged as cof lateral some of the real estate and casino assets that are not otherwise committed to secure loansi -Those include the Trump Plaza Hotel in Atlantic City, N.J., and the Trump Tower building in Manhattan. Trump also may have agreed to forfeit uity in other properties in return for the suspension; of interest payments. PURPOSE: The cash would give Trump more time to sell some of his valuable properties, increasing' the chances that they would bring a good returns Otherwise, Trump might have to unload them at bargain prices.

The bankers also are afraid that if Trump misses a payment, his casino license could be threatened and his empire could wind up in lengthy, costly litigation. SOURCE: The Associated Press Some U.S. firms fare better overseas est payments, and to make changes in his lavish, high-profile lifestyle, according to a report in Monday's Wall Street Journal. But the Journal article said Trump balked at a bank proposal to secure the $60 million loan with the apartment portfolio of his father, Fred Trump, who also amassed a fortune in real estate and taught the junior Trump the art of the deal. The sources familiar with the negotiations said major banks' contributions toward the $60 million loan will be proportionate to the amount they previously lent Trump.

Citicorp and Bankers Trust would provide about two-thirds of the new loan. Sources said the next step is to sell the restructuring plan to smaller creditors, including Japanese banks, SEE TRUMP 8D The Associated Press NEW YORK Donald Trump will get $60 million in new loans and some needed breathing room to shore up his real estate and casino empire through a tentative deal with his bankers. The proposal, which was worked out during the also would allow Trump to suspend interest payments on $2 billion in outstanding debt, sources familiar with the deal said on Monday. In exchange, Trump has pledged as collateral some of his real estate and casino assets that are not otherwise committed to secure loans. Those assets include the Trump Plaza Hotel in Atlantic City, N.J., and the Trump Tower building in Manhattan, the sources said.

Trump also may have agreed to forfeit equity in other properties in return for the suspension of inter id you read the other day that Japanese investors have bought Rolling Hills Golf Resort in Davie and plan to build a retirement and vacation complex there? Or SECRET SUPPUE KS CASH AND CARRY Low-profile workers replenish bank teller machines. ATM replenishment teams are responsible for maintaining money supplies: 74 72 ATMs in service. In thousands: 68 63 61 53 41 32 231 By BRAD KUHN The Orlando Sentinel A card goes in, cash comes out. Presto! It's magic. Automated teller machines, those money-spitting, 24-hour cash kiosks, are the hottest banking convenience since the drive-up window.

But how does the cash get in the machines? Why don't they ever seem to run out of money? It's a touchy subject, one that most banks just do not talk about. "We prefer not to profile how we replenish our ATMs," said Jerri Franz, a spokeswoman for Jacksonville-based First Union National Bank of Fldrida. "It's dangerous enough for the people out there." It's difficult to find out who "the people out there" are. In most cases, they don't work for the banks but for private contractors such as Wells Fargo: With more than 75,000 machines now in service nationally, there is a tremendous need for cash replenishes. Sun-Bank, for instance, has 80 ATMs in Dade, Broward and Palm Beach counties, and Barnett Banks has 130.

As many as 25 percent of all customer transactions are made through ATMs, Barnett's Central Florida bank estimates. A busy machine will handle more than 5,000 transactions a month. ATM replenishment teams pick up cash at secret vaults and flit like bees from machine to machine, responding to computer distress signals that tell SEE ATM 8D 4rQ4 4 noo 4 nan apioa inoe hciog nrof inoo -in on that golf course memberships will be sold to the Japanese on a time-sharing basis? These days the business news often has an international slant. Usually, the stories come after major political events. The fall of the Berlin Wall got the big headlines and the television play.

Plans to exchange East German currency for West German marks got buried in the back pages. Soviet leader Mikhail Gorbachev's visit to Washington was big news'. The announcement that General Motors will supply auto parts to Volga Auto Works southeast of Moscow was treated routinely. Yet it is the economic events that will have the greater effect on our lives. The notion that Japanese workers would fly halfway around the world to play golf, vacation or retire in Davie would have been laugh- able at the end of World War II 45 years ago.

GM announcement is key Yet 20 or 25 years ago, when Americans be-gan preferring Japanese cars to products of -Detroit, the idea that Japanese golfers would eventually play anywhere in the world became inevitable. This is why I think the news about General Motors is important. In this country, General Motors is a sleeping giant. Its executives are more interested in their pensions than in Overseas, though, GM is winning the race to become an auto supplier for nations that were once on the other side of the Iron Curtain. GM has signed an agreement to build cars in what is now East Germany and in Hungary.

By the end of this year, it plans to have distribu- tors and dealers in six Eastern European countries. Reporters who follow such things say that GM is far ahead of Ford in making deals in that area of the world. One problem is that Soviet currency has almost no value in international markets. General Motors says it will get paid in U.S. dollars for its auto parts, although there may be strings attached GM may have to buy platinum from the Soviets.

But the GM effort is a start. When the Soviet ruble is worth something, GM will be there. Another U.S. company success is the Japanese government's choice of Motorola's voice-coder technology as the national standard for new-generation digital cellular phones. Motorola, IBM close behind For years, Motorola, which has plants in Plantation and Boynton Beach, tried without success to enter the cellular phone market in Japan.

Then the company got a foothold. Now it will set the national standard. International Business Machines, another global firm with a stake in South Florida, recently announced plans to establish a computer center to serve Hungary and Czechoslovakia. IBM Europe will furnish hardware, a library of systems and application software and training and education for the staff. IBM Europe will lend computer equipment, including a $1 million 3090-model mainframe.

The idea is to allow scientists to exchange information. The centers will be linked to Western Europe via a computer gateway in Vienna, Austria. Academics, students and people in industry will be allowed access to the computers, and the Hungarians and Czechs will sign documents pledging that the computer will be used only for peaceful purposes. That's a given. The Cold War is over.

Nation hopping is the order of the day. So as the Japanese prepare to play golf at Davie, is the day far off when GM workers play golf in Yalta, when Motorola executives watch baseball in Yokohama, Japanor IBMers go bowling in Budapest, Hungary? CLEAR ENTER 5 11 6 CANCEL i3 jlJLl SOURCES: The Orlando Sentinel. Electronic Funds Transfer Association Vf Staff graphicDEAN WEINLAUB U.S. JOBS Albertson's to shut down 2 sites, open 1 California shines on job growth list Report brightest for Sun Belt state Forecast of top 1 0 states in numbers of jobs for year 2000 and percentage change from 1968: raihwnia (hi thousands) 21.4 19,070 New York 1 10,593 t8.8 Texas 113.2 9,653 2 7,994 22.5 By the year 2000, Florida is expected to rank fourth in the nation with about 8 million jobs, a government report shows. Illinois 12.7 6,953 Pennsylvania 10.3 6,684 Ohio 10.0 6,185 Michigan 112.1 1 5,061 Staff reports Albertson's is closing two supermar-! kets in South Florida and opening one.

The Idaho-based grocery store chain is closing its stores in Hallandale and i Jupiter by the end of the summer. A store in Coconut Creek closed on May 3. But the chain is building a new store in Delray Beach, at the corner of Mill-" tary Trail and Linton Boulevard. The store is scheduled to be open by the end of 1990. The Jupiter store, which was 4 years old, suffers from poor access and traffic problems, said Michael Reuling, execu- tive vice president for store planning, Luring customers from the west to the Route 1 store also is difficult, He said.

i "We made a real estate mistake cjn that one," he said. i Reuling said the Hallandale store is in a community with a stable populjt- tion. The store also is down the road from a Publix Super Market, also on Hallandale Beach Boulevard. After the opening of the Delray Beach store, Albertson's will have 14 stores in South Florida. "We evaluate all our operating stores in terms of the competition and the de- mographic environment," Reuling said "It is not a static thing." .1 In 1988, Albertson's had a 10 percent share of the Broward County grocery store market, according to Fairchild Publications.

That same year, Albert-' son's had a 7 percent share of the Palm Beach Fairchild Publi- cations said. New Jersey 113.7 1 4,930 Massachusetts 12.3 I 4,229 The Associated Press WASHINGTON One of every six jobs created through the turn of the century is expected to be in California, reflecting the continued shift of economic activity to the Sun Belt, the government said on Monday. "California is projected to gain 3.4 million of the 18.9 million new jobs created nationally" from 1988 to 2000, said the forecast by the Commerce Department's Bureau of Economic Analysis. That would give the state about 19 million jobs. "Florida and Texas are projected to have increases of more than 1 million jobs each," to about 8 million and about 9.6 million respectively, the department said.

Those projected increases put Florida fourth on the job list just behind National employment opportunities are expected to increase 14.3 percent to 151.5 million jobs. The study projected that the fastest job growth will be in Nevada, up 31.5 percent to 847,000, and Arizona, up 26.7 percent to 2.3 million. Those two states also should show the fastest growth rates in total personal income and population, the department said. "The projected growth in Nevada and Arizona reflects rapid population growth and strength in their economies, in part due to the continued shift in eco- SOURCE: Associated Press nomic activity toward the Sun Belt," the study said. "Florida, Utah, California and Hawaii also are projected show rapid growth." California will continue to be the nation's most populous state, growing 17.1 percent to 33.2 million people.

It also will be first in total personal income, up 33 percent to $568 billion. Personal income will jump 46.2 percent to $21.7 billion in Nevada and 40.6 percent to $59 billion in Arizona. Total U.S. personal income is expected to advance 26.2 percent to $4.11 trillion. The income projections are adjusted for inflation.

Connecticut is expected to continue having the highest average per capita income, rising 10.8 percent to $20,503. Mississippi, although gaining 19 percent, is expected to remain last, with $10,631. The national average will be an estimated $15,345, an increase of 15.9 percent. MONEY LINE DOW JONES INDUSTRIAL AVERAGE High Low Clot. Chang 2,901.98 2,852.97 2.892.57 30.19 GOLD Mon Fri Chang N.Y.

Comex $356.40 $355.70 $0.70 N.Y. Rep. Bank $355.10 $355.00 $0.10 SILVER Mon Fri Chang N.Y. Comex $5.012 $5.007 .005 SECONDARY BOND, TREASURY BILL MARKET (Clot, chang. en Monday) (Source Salomon Brother Inc.) Treasury bills, 3 months 7.98, .03 Treasury bills, 6 months 8.04, .01 Treasury bills, 1 year 8.07, .01 Treasury bonds, 30 years 8.44, unch.

MONEY RATES South Florida prime rate 10 Mortgages (fixed, 30-year) 9.0-11.0 Money market funds (7-day average) 7.68 Money-market accounts (average) 8.10 13-week new Treasury bills (yield) 7.99 26-week new Treasury bills (yield) 8.06 Staff graphlcJERE WARREN The population in Nevada is projected to rise the fastest, 29.8 percent, to 1.4 million. If the projection proves to be true, Arizona will be next, with its population rising 21.4 percent to 4.2 million. Florida would be third, up 18.2 percent to 14.6 million. The national growth rate is expected to be 8.9 percent, with the nation having 268 million people in the year 2000. Populations are projected to increase in every state except three: Wyoming, down 1 percent; Louisiana, 0.1 percent; and West Virginia, 0.4 percent..