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The Lincoln Star from Lincoln, Nebraska • 12

Publication:
The Lincoln Stari
Location:
Lincoln, Nebraska
Issue Date:
Page:
12
Extracted Article Text (OCR)

4. WIS jo' mi -wr-in isrisi era wm i it a 6" HANGING BASKETS 59 ea. Your Choice Ferns, Cactus, Phllodendrons rpQK i a SQUARE FIBERGLASS SHINGLES Class fire-rated 20 year warranty 3 bundles cover 100 sq. ft. White only REDWOOD BIRD FEEDER Lift-up roof Ribbed clear plastic panels Holds 3 lbs.

of seed 184 FOLDING DOORS 32" 80" NARROWLINE qQC Pecan or Walnut look I 103133 I I Mainline oc Oak or Walnut look JiiJQ 102729 lJV Solid Wood Panel Oak, Walnut or Pecan woodgrain 32010203 6995 Lb. DRYWALL WILD BIRD SEED 4'x8'-'i" gypsum board. 375857. Ml 3495 Colonial OCTAGON WINDOW Clear white pine construction 9 lite grill Rough opening 24" 24' Standard glass stationary SS263 9 CAULKS 599S 949s Insulated Glass Stationary SS263 Insulated Glass Venting With screen S0263 I i Speed Load Oil base White 10.3 oz A I IU I tAH LATEX WsalhAr resistant seal 10 vr. auarantee Fts im JatT White 10 oz Page 12 The Lincoln Star Thursday, November 5, 1987 From Page 1 Consumers on spending, while 36 percent of those who own no stocks plan to cut back.

The newspaper polled 2,463 people by telephone nationwide from Thursday through Monday. Many economists have predicted consumers will curtail their spending either because they lost money or because the market's debacle has shaken their confidence in the economy. Consumer spending accounts for two-thirds of the gross national product, the broadest measure of the country's economic health. If consumer spending falls, it can lead to a cutback in production and an increase in unemployment, which in turn can lead to a recession. The late October car sales "do make clear that obviously the stock market did not have a diasastrous effect, but the big question is how things will go over the next few months," Gault said.

David Wyss, the chief financial economist at Data Resources, called the figures "an encouraging first sign that we could stay out of a recession." But, Wyss added, "we have to look at some broader spending figures." November consumer spending figures, which will not be complete until sometime in December, could give a clearer picture of how confident consumers feel, he said. "We unfortunately are in an information gap period," said Robert H. Chan-diuss, chief economist of Lloyds Bank in New York. "It will be another month before we get enough data to see what's happening." He reiterated his prediction that "consumer spending will be weaker than it otherwise would have been" because of the crash. On Thursday, the nation's major general retailers are scheduled to release their October sales figures.

However, Wyss said these numbers will be inconclusive as to the effects of the Wall Street collapse since only one-third of the selling days last month took place after the crash. From Page 1 FCC ruling an FCC report. The information showed that the trustees of the Gillett Family Trust had business relationships with Gillett, removing some of the insulation between Gillett and Busse Broadcasting. Moreover, George Gillett was listed in FCC filings as being the personal guarantor of a $15 million note owed by Busse. In a Sept.

29 letter to the FCC, eight members of the House subcommittee on telecommunications and finance asked the commission to review its staff's approval of the transfer of Storer to SCI. "There are important questions that the members of the commission should consider, such as whether the staff correctly has interpreted the attribution rules, and whether the structure of Busse Broadcasting Corp. adequately insulates Mr. Busse from influence by Mr. Gillett," the members said.

After reviewing the case, the commission ruled Oct. 27, that Gillett no longer had a controling interest in the five stations it sold to Busse Broadcasting because Gillett owned only non-voting stock in the company. The commission ruled, therefore, that none of Gillett's interests in Busse Broadcasting were attributable to the multiple-ownership rule when considered individually. "Nonvoting shares and the existence of a single majority stockholder (Lawrence Busse) render Gillett's interest in Busse nonattributable," the commission said in its report on the case. "Collectively, however, the unique circumstances presented make it appropriate to impose additional conditions." Those conditions: Forbid communication of any type between George Gillett Jr.

and Lawrence Busse, Busse Broadcasting or personnel of that corporation or its subsidiaries directly or indirectly through others except as might be required by law. Any required communication must be in writing. Prohibit George Gillett his wife or other members of his or her family from serving as trustees of the Gillett Family Trust or the children's trusts. Require the commission to be informed of any changes in the trustees or in the shareholders agreement between the Gillett Family Trust and Busse Broadcasting before such changes are implemented. Limit communication between George Gillett Jr.

and trustees of the trusts set up for his children. According to Steve Sewell of the FCC, George Gillett who owns the Gillett Group, formally agreed to those conditions in a letter to the FCC. The deal transferring Storer to SCI already has been closed, according to Vincent Pepper, Gillett's attorney. Busse said in a telephone interview that he had no objections to a condition prohibiting communication between him and Gillett. "The only thing I can say is that right from the start we knew there was not going to be any communication between the two of us anyway," Busse said.

Gillett could not be reached for comment. In addition to the Nebraska stations, Gillett sold WWMT-TV in Kalamazoo, WEAU-TV in Eau Claire, Wis, KOKH-TV in Oklahoma City; and WRLH-TV in Richmond, Va, to Busse Broadcasting, which is headquartered in Kalamazoo. The six stations transferred to SCI TV are in Boston, San Diego, Cleveland, Atlanta, Milwaukee, and Detroit. The Gillett Group is headquartered in Nashville, Tenn. 30 Yr.

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About The Lincoln Star Archive

Pages Available:
914,989
Years Available:
1902-1995