Tampa Bay Times from St. Petersburg, Florida on September 23, 1985 · 58
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Tampa Bay Times from St. Petersburg, Florida · 58

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St. Petersburg, Florida
Issue Date:
Monday, September 23, 1985
Page:
58
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2E ST. PETERSBURG TIMES MONDAY, SEPTEMBER 23, 1985 MONDAY MORNING TIPOFF Trying to increase haul of Presidents The tony Presidents Club in downtown St. Petersburg is finding that members are more than willing to part with $4,000 to become members for life. The offer is being made to 25 of the club's 350 "founding members," says a spokeswoman who asked not to be named. Each calendar quarter, another 25 life memberships will be offered. Those who decide to join the Presidents Club till death do they part will be exempt from the normal $55 a month dues paid by regular members. The monthly dues come on top of a $2,000 initiation fee. A limited number of life memberships may be offered to other members of the dining club in the future, "at a substantially higher cost," according to a letter sent to members from Laura G. Hornsby, membership director. All corporate members of the Presidents Club are immediately eligible to become life members. Corporate members pay a $5,000 initiation fee, plus $55-a-month dues, for use of the club by five designated company employees. The corporate life membership costs $4,000 for each executive. The Presidents Club thinks life memberships should go on living after their owners' deaths. Life memberships are therefore transferable to a surviving spouse. AIDS has aided Ayds Has AIDS hurt the sale of Ayds? Not a bit, says Martin Himmel, president of Jeffrey Martin Inc., the New Jersey-based manufacturer of Ayds, a chewy candy for dieters. He says all the media attention devoted 9USID1SSS Published every Monday by the t. Petersburg eimts BUSINESS EDITOR Elizabeth Whitney EXECUTIVE BUSINESS EDITOR Susan taytor Martin ' BUSINESS NEWS EDITOR William B. Fox STAFF Glenn Burkina, James Greiff, Angelo B. Henderson. Helen Huntley, Charles A. Jaffe, Jacob M. Schlesinger, Jim Tyrrell Telephone: News (813)893-8160 Advertising (8 1 3) 893-8524 Address: P.O. Box 1121, St. Petersburg 33731 to the other AIDS (acquired immune deficiency syndrome) has only helped his product. "We get comments and jokes," Himmel says. "I just heard about a show on Broadway about AIDS with a plug in it for us." Himmel says Ayds sales continue to grow, and the company has no plans to change the candy's name. "Our share of the dietary products market is increasing," he says. "People who suffer from that disease (AIDS) are not the same people who are trying to lose weight." So that brokers don't go broke Stockbrokers who worry about being sued by their clients now can buy insurance to cover their legal fees. NAS Insurance Services Inc. of Santa Monica, Calif, is selling the new insurance underwritten by Lloyds of London. Unhappy Florida investors have been taking their brokers to court in increasing numbers in recent years, usually claiming that they were placed in unsuitable investments andor their accounts were "churned" to generate commissions for their brokers. Some of them have won court judgments in their favor. Being insured might help some brokers sleep better at night, but it won't take care of all their worries. The new insurance specifically excludes claims stemming from a broker's handling of discretionary accounts or from a brokerage firm's underwriting of a stock issue. Court-awarded damages also are excluded. The insurance does cover a variety of civil and criminal proceedings, including administrative hearings before the New York Stock Exchange. The maximum coverage available is $50,000 per representative. The insurance must be purchased by brokerage firms rather than individual brokers. Premiums vary. A firm with 500 brokers would pay $500,000 a year for $25,000 coverage per representative, or $880,000 for $50,000 coverage. HELLO, name is . . . My It's the ultimate convention a convention of convention planners. Between March 8-12, Orlando will host the annual meeting of the American Society of Association Executives (ASAE). The 12,000 members represent trade and professional organizations, according Bill Barclift, ASAE public relations director. "It's a terrific opportunity for us to showcase our community," said Garry Cross, president of the Orlando Orange County Convention and Visitors Bureau. In addition to selecting sites for their groups' conventions, the ASAE delegates also choose hotel accommodations and tourist attractions. ASAE represents 35 to 40 percent of the national convention market, Barclift said. Nationwide, there are 227,000 meetings or conventions each year, drawing an average of 26.5-million people who spend a total of $18.7-billion, according to Meeting and Convention magazine and the ASAE Fact Book. But they like it here really In Greek mythology, Penelope was an attractive young woman who was happily married, but who nevertheless had a swarm of suitors bothering her night and day. That was because her husband Ulysses was out of town on business fighting the I rojans and the would-be NOW IS THE TIME "LUXURY REFINED" Comfort Ride & Handling Test Drive & Judge for Yourself Best Gas Mileage in Its Class Stoc k 603 15X 98 REGENCY SEDAN Include: Cruise, AMFM Stereo, Wire Wheels, Tilt, Mats, Pulse Wipers, All Std. Power Options' BUY LEASE $1 & 71C 1 K $OAA OA Plus Tax & Tag & Title pii""hirLV7"'i' iwy Total Hivmrnii Si S.42 ) bb Month GOLDEN OLDSMOBILE.inc. 11613U.S. Hwv.19 Pasco862-5454 Hernando 596-4652 POrtHlChey Pinellas 938-1 567 Hillsborough 229-0709 m swains thought she might be an eligible prospect. When Ulysses got back, he killed them all. In Pinellas County, Eva-Tone Soundsheets Inc., a maker of recordings, is something of a corporate Penelope. President Richard E. Evans moved the company to St. Petersburg from Illinois in 1979 and has repeatedly made it clear that the company is here to stay. That hasn't stopped other locales from trying their luck, however. In the past few months, according to the Pinellas Industry Development Council, Eva-Tone has received unsolicited offers to assist in moving to Quincy, 111. (three times); Woodward, Okla.; Macon, Ga.; Abilene, Texas; Augusta, Ga. (four times); Palm Coast, Fla.; Ontario, Calif.; and the North of England. The Times called Evans last week to ask what he made of all this, but like Ulysses he was out of town. 4 Ready to kiss and make up Now that Paradyne Corp. of Largo has settled its 2"? -year spat with the Securities and Exchange Commission, it seems poised to kiss and make up with the Department of Health and Human Services as well. HHS has proposed that Paradyne be barred for a while from seeking government contracts becaused of dissatisfaction with the way the company won a $100-million Social Security contract. "We're trying to get this settled as quickly as we can," says Henry Kirschenmann, deputy assistant secretary for procurement at HHS. "We're talking a little bit to Paradyne to see if we can't reach a settlement that would protect the government's interest. . . . We're hoping we're close." That would still leave a class-action shareholder suit and a grand jury investigation. But company officials are bullish about the prospects of wiping these out too. "We'll see if we can chop them off one by one," says President Robert S.Wiggins. Turning tires into fire Columbus McKinnon Corp. is in the business of helping people "burn rubber." Literally. The company's Manatee County division has developed a unique machine that chops old tires into hundreds of 2-inch squares. These tire chips produce tremendous heat when burned, which has created a large market for the chips among companies that use heat energy in production. In the Tampa Bay area alone, between 1- and 3-million tires end up in landfills or on junk heaps every year, says Bruce Battaglia, spokesman for Amherst, N.Y. -based Columbus McKinnon. A shredder could turn those tires from garbage into more than $l-million of business a year, he says. "To my knowledge, this type of tire recycling is not being done in Florida," Battaglia said. "I believe we own the only industrial tire shredder in the state." Columbus McKinnon's shredder is a complex system that costs $375,000, Battaglia says. The owner of a shredder might expect to process 1 -million tires a year, making roughly 20,000 tons of rubber chips, Battaglia says. The chips sell for up to $60 per ton. "There are about 220-million tires that end up in landfills and junk yards around the country each year," Battaglia says. "That's one tire for every person in the country. And that's a lot of rubber chips that could create a lot of energy. 01 1 llr- ri2-'i"f;n 'Ski . Jm irrjr: . ,

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