The Journal Times from Racine, Wisconsin • 18

thelournal Time, Monday, Dec. 1, 1980 Racine, WH. 6B Amines ic epui groves, cuts servrce to smaller cities i v- 1 mi- 1 5. I 7 i i 17 fix'" i I I y- -tnr I I T-V 77 I I I i I i I 1 i I j- i'I 'v 'I I -t-f7 'Sk- i--A 4 since deregulation. We recognize the problems some of those smaller communities might have, but there's not much we can do about it" Hal Wright, manager of Central Wisconsin Airport at Moslnee, said five Republic flights a day would be lost as of today, and scheduling changes will trim airport revenues and reduce service for Wausau and Stevens Point area customers.

At Wittman Field in Oshkosh, manager Blair Conrad said nonstop service to Chicago would soon be lost; The airport at one time had seven nonstop flights to Chicago daily and another via Milwaukee. Conrad said Republic's replacement of DC-9 jets with smaller Con airs resulted in a substantial drop in landing fee revenues. "We had big plans to buy a new passenger ramp to handle Jet service," Conrad said, but the uncertainty of the situation would make It Impossible to justify the $250,000 expenditure. He said ridershlp had declined from. last year's 70,000 to 47,000 so far this year.

Dennis VanBeest of the Rock County Airport at Janesvllle said he suspects the two daily round trip flights from Janesvllle to Chicago might become the victims of a cutback that would end Republic service to his airport. "To call the loss of service a bad blow to the community would be an understatement," he said. "Janes-ville is the home of Parker Pen. We've also got General Motors here, a new Simmons mattress plant and Caterpillar Tractor Is considering a move here. Air service is essential." MADISON (AP) Several Wisconsin airport managers are blaming major cutbacks in air service on the growth of Republic Airlines, once known for its service' to smaller cities in the Midwest.

Deregulation of air travel is cited by both the airline and a member of the State Aeronautics Council as creating uncertainty about continuing serviceTor smaller airports, around the state. Walter Hellman, a spokesman at Republic headquarters in Minneapolis, said financial matters dictated the company's operatnms, and he could not make any guarantees about continuing service to the smaller airports. "We lost approximately $24 million in the first nine months of 1980 What we're trying to do is cut our losses," he said. Citing escalating operating costs, he said it can become "unreasonable and impractical" to continue service to small airports If operating costs run much higher than earnings at such stops. Republic, formerly North Central Airlines acquired Southern Airlines and Hughes Air West as part of its expansion.

"We didn't have those sunshine destinations on our schedule until 1978 after the deregulation act," Hellman said. "We added those winter vacation markets to offset the winter doldrums." David Duax of Eau Claire, who chaired a recent meeting of the State Aeronautics Council that ad-vises' the state Transportation Department on aviation matters, said Republic's fare increases and frequent schedule changes hurt airport business. "Deregulation was supposed to provide an improvement in service," Duax said. "Instead, it's created uncertainty." Duax also said Re- public might prefer to "get out of here so it can concentrate on those more profitable southern and southwestern routes." Hellman said Milwaukee and Green Bay were major stops for Republic, but he had no specifics about future scheduling for other points. "If they (Wisconsin airport managers) are asking us to make-a- commitment three years down the line, we can't.

It's a whole new arena Anti-smog press rule WASHINGTON (AP) The Environmental Protection Agency said Sunday it was proposing tighter anti-smog standards for rotogravure presses, which print newspaper supplements, magazines and catalogues. The standards would reduce emissions of volatile organic compounds by 13 percent in 1985, an EPA statement said. It said current standards would limit such emissions to 67,000 tons per year while the new limit would be 58,300 tons. The statement said volatile organic compounds can react to nitrogen dioxide in the atmosphere to create smog. The standards would not affect existing rotogravure presses unless they are modified in a manner that would increase emissions or are reconstructed, the EPA said.

M-F voters OK plan Holders of Massey-Ferguson preferred stock approved certain amendments to the company's charter at a special meeting reconvened in Toronto from Nov. 13. Among other things, holders approved creation of an unlimited number of common and preferred shares, payment of about $22.5 million in preferred share dividend arrearages in the form of Massey common stock rather than cash, and removal of certain restrictions on the issuance of preferred. Holders of the financially-troubled farm equipment maker's common and preferred stock, voting together, approved the changes Nov. 13, but a quorum of preferred holders was not present to vote vote separately, as required, so the meeting was adjourned.

Victor A. Rice, Massey's chairman, president and chief executive officer, told the reconvened meeting Saturday that "important progress is being made" in the company's negotiations with its lenders. Fewer workers strike Fewer workers were involved in strikes during the first 10 months of this year than during any comparable time in 15 years, the Labor Department said. However, because the strikes that did occur tended to last long, strike-caused idleness totaled 0.15 percent of work time during the 10-month period, matching the rate for the corresponding period in 1979. During the first 10 months of 1980, the department said, 4,165 strikes began, Involving 1,452,000 workers, down from 4,404 strikes involving workers during the year-earlier period.

The department said 360 strikes began in October, bf inging the month's total to 649, compared with 438 ikes begun and a total of 711 in September. The iwmber of workers involved in strikes in was 189,000, down from 269,000 in Union plans office Union Savings and loan Association will open an office at 5100 Washington in 2,100 square feet of space that has been vacant since when Southeastern Savings Association moved out and into its new west side branch building at 4923 Washington Ave. Union said it expects to open the office, its fourth, early in January. In addition to its headquarters at 468 College Union has offices at 3215 Douglas Ave. and 4100 Durand Ave.

Accounting seminar set A professional development seminar on "Internal Accounting Control Management's Responsibility," will be conducted by the Racine-Kenosha Chapter of the National Association of Accountants Dec. 8 at the Racine Elks Club, 601 Lake Ave. The seminar, open to the public, starts at 4 p.m. and Includes dinner and an evening session, said David D. Kohlmeyer, publicity director.

There is a registration fee. Speakers include JL, William Marsh, finance vice president at Gettys Manufacturing Don Newman, manager of corporate internal audit at the J.I. Case and J.C. Fleming, operations1 controller at A.O. Smith Milwaukee.

Bit of business Deep-seated Lillian K. Rankovic, 1200 Sheraton Drive, has been designated a certi-' fied professional secretary (CPS) by the National Secretaries Association. Such certification is awarded to association members who pass a 124 hour written examination and have at least three years of secretarial experience. Rankovic, a member of the association's Racine chapter, is an advertising administration specialist at the J.I. Case Co.

if Aimed right at the seat of this chair -engineering lab in Grand Rapids, is a 125-pound bag that tests the Mich. Chairs are subjected to tnou-" foam in the chair for resiliency. The sands of cycles to be certain they'll test is being performed by Ken Pan-' stand up to the wear and tear of toning, of Steelcase, at the "company's day's office. 'Bankruptcy boom annoys creditors By Louise Cook of the Associated Preu The bankruptcy business is booming and creditors are complaining, The recession is partly to blame for the growing number of people who are growing broke. But lenders say a revision in the bankruptcy law and advertising by some lawyers is equally responsible.

The change took effect a little more than a vear aeo. In central the now law niintua Pay up 2,2 in Quarter dLbtors 10 keep morc of the ppey when thev file for bankrumcv. It also be stopped," says E.C.A. Forsberg, the chairman of the board of the association, in an article in the latest issue of "Credit," the group's magazine. Forsberg cites the case of an unnamed couple with a gross annual income of who, he says, eliminated $22,000 in debts by filing for bankruptcy "when alternatives were possible for them alternatives that would have allowed them to.

meet their credit responsibilities." He also writes of what he calls "a rash of lawyer advertising offering bankruptcy counsel." Forsberg adds: "Much of this advertising is merely an offering of service. But is it proper for a lawyer to advertise that going bankrupt 'will not harm your It's happening." The American Bar Association, in a consumer guide to credit and bankruptcy, makes it clear that filing for bankruptcy does affect your ability to get credit. The association points out that the fact you filed for bankruptcy will remain on your credit record for 10 years. The lawyers' group add, however: "Bankruptcy is intended to give you a fresh, start to rebuild your economic and you should feel no disgrace in exercising your right to do so." 4 It is hard to compare statistics on bank-ptcies before and after the new law went into effect. That's because a husband and wife now can file a joint petition instead of two separate ones.

During fiscal 1980 the year that ended June 30 there were 22 -percent more bankruptcy petitions filed by individuals than there were in fiscal 1979. There are two ways to file for bankruptcy Chapter 7, or straight bankruptcy, and Chapter 13, or the wage-earner plan. Under Chapter 7, the debtor gives up most of his or her assets. The assets are con- verted into cash to pay off as many creditors as much as possible. Under Chapter 13, the debtor agrees to repay lenders over an extended period of time under a plan approved by a bankruptcy judge.

Certain assets are exempt from bankruptcy. The amount you could keep used to. vary widely from state to state. The re vised law set a federal standard'. A debtor who files for bankruptcy under Chapter 7 can, for example, keep up to $7,500 worth of equity in a home and up to $1,200 In an automobile.

States are allowed to reject the federal exemptions and set their own standards and at least a dozen already have done so. Revisions in the wage-earner plan also -helped debtors. Under the old law, someone filing for bankruptcy uifder Chapter 13 usually had to agree to repay all debts. The changes allow the debtor to repay less than the full amount In some cases, unsecured creditors who granted a loan that did not have collateral like a house or an automobile cannot collect any of the money that is owed them, as long as the bankruptcy judge agrees that the debtor is acting in "good faith." Congress already is considering tightening this provision, however, changing the language of the law to require debtors to use their "best effort" to repayi all outstanding debts. makes it easier to wipe out your debts without actually going bankrupt or paying back all the money you owe.

The Labor Department said private workers' wages and salaries rose 2.2 percent in the third quarter, slightly more than the 2.1 percent second quarter gain. At the end of the third quarter, wages and salaries were 9.4 percent above a year earlier, the biggest 12-month increase since the department began keeping its employment cost index In 1975. Though large compared with previous increases, the rise came during a 12-month period wnen consumer prices rose about 12 percent, indicating that wage and salary earners con-tlnued to lose purchasing power. The National Consumer Finance Association, which represents finance companies, has started a campaign against the revised code. The group is publicizing examples of people who abuse the law.

It is warning that lenders are going to be much more careful with their money. "The current abuses of bankruptcy must Grain Futures Local interest Courtesy Robert W. Balrd I. Quotations as of 10:30 a Promoting games is big business High AllegLud 43 Am Motors 4i ....34 Bucyrus Conf. Can 34V Evans 27 Gn.Sig.Corp 49 Hardee INCO 20'- Low 4314 4 32 25 '4 34 23 20' 17V Co.

Inc. Last 43, 4' 32 Vk 25 '4 34' 23 '4 27 4v 25 20 '4 17 37 25 42' 4 10 '4 27' Kmart A 17 Koehrlng John Cunniff Net Chng NC I -V NC NC NC NC NC NC NC -IV NC 42 5'- 10 27 'It 27 Levi Strauss Massey Mattel Inc Mattel MGIC Modlne Northwest Ind 3v Ckt CHICAGO (AP) -Future trading Frl day on tha-Chicago Board of Trade; Open High Low Close WHVAT MQ9 b.j OvMSTt NT iHle Dec 5.05 5 10 SOt'A 5 3 5 42V S3 5.4044 01V May 5 52 5.5a 5 52 5 U' 01V Jul 5.40 5.42 SJWr 541 .02 Sep 5.4VV 5 52 5 4Vl 5.50V 02V Dec 5.MV4 57 S.MV4 5.6 .02 Sales Wed. Total open Interest Wed. 7,414, off 25 fron Tues. conn mm k.i DaMart per a.

Dec Vtt XVm im 3W 0 Mar 40k 4.10V 4 024 4.0 05 4 II 4 0ID 4 IM Jul 4 11 4 lV4 4 10 4 1 .05 Sep inv, 407 3.WV4 40444 Dec J.IIVt Jlf II l.5 Sale Wed. M.450. Total open Interest Wed. off 1,03 from Tues. oats MM km i Ceitan per a.

Dee 2 J2V 127V 122 J17V, 04 Mar 2.J7V 242 2.3 2.41V 2 44V 2J 2.43V 05 Jul 2 33 2 31 3 33 2 31 0 Sep 2 31 3 32 2 30 2.32 .0 Toil open Interest Wed. 7,414, off 295 frorr Tues. fOYSIANtMMtaj Dalian per Da. 24 3 22 33 MOT f.H 73 55V May .5 WOW t2v 7V Ju(. 1004 1024 1003 ItV '0 00 1 hevZ-KO 0i 13 .13 Jan Total open Interest Wad.

Jlfc332, off from Tues. 42V 4 10V4 27 27V 31 17 21' 57' 30 151 31V 15 27 21' 3'A 171 5 21V 57' 30 15 42V 21 It 15 Sfonnord Inc II (2 3 old) Schllu Brewing V4 Snap-on Tools a. ...21 Sta Rite Inc Tenneco JM Textron Inc J'V Twin Disc 1V Vulcan Mat Wis El Pow 2t' WlsPSve WiiPwrLt 1 cy, one insurer etc.) position on what Brackenridge says is bound to be the greatest business game ever. H.J. Heinz Co.

mentioned "Fortune 500" in its magazine and sold 675 games. W.R.Grace Co. enclosed a flyer with its Dec. 14 dividend check to 50,000 shareholders offering the game at half the $20 price. Some 45,000 games have been sold tn the United States so far, but they represent but a fraction of the six and seven-digit numbers to which Brackenridge aspires.

Livestock MILWAUKEE (AP) Friday cattte nw-fcet: pood to choice steer pood choice heifers 00-2 00, good Molsteln steen 57 0040 00; standard to tow Jt 00-54 00; gooc dairy heHerS 4f 00-13 00; utility cows 45 00-41 00; canners and cutters 42 00-45 00. commercial bull 52 0O-S 00; common 4t Friday's calf market: choice calm 00 00-15 00; good calve 0 00-70 00. Friday' hog market: light butcher 4500-47 50; heavy butchers 43 05-43 00; light sows 30 heavy sows 3S.W-40.00; boars 40 00 and down. No lamb market Monday' estimated receipts: 1,050 cattle; 1,000 calve; 200 hog and 23 sheep. I Dollar, gold LONDON (AP) The dollar and gold rata on world money markets today.

In Tokyo, the dollar closed at up from 314.73 at the close Frl- NEW YORK (AP) Gavin Brackenridge is talking a lot about games this Christmas; but he isn't playing games. He is promoting them, He earns 60 cents for every "Fortune 500" game sold at retail, and more on sales to schools and companies. And for having their names on his game board, 20 blue chip companies have paid him $30,000 each. That probably isn't half the story, for this isn't so much the tale of a game about business as it is a story of entrepreneurshlp: It begins at least four years ago with dlsribution In France of "Business," a board and dice game devised by Richard Fenwick, like Brackenridge, a 1968 graduate of the Wharton School of Finance. "Business" was aptly named, since it attempted to create many of the situations faced by the chiefs of major corporations: Prime rate Increases, strikes.

Inflation, acquisition opportunities et at. "You forge empires and face all the challenges and dilemmas along (he way unfriendly takeover bids, collapse of credit sources, a squeeze from die cartel that controls your natural resources. "There are strikes to contend with, natural disasters, changes in government regulations, stock offerings, ad campaigns. It's everything business really "Business" sold 250,000 copies in France alone before Fenwick and Brackenridge, a real estate adviser to major crporations decided to take it to the U.S. market under the auspices of Editions Fenwick Inc.

As in the game, problems arose. The two young businessmen sought to call the American edition "Fortune," but found the name already copyrighted by another game company. They selected ''Fortune 500." For what Brackenridge describes as "a very small royalty," Time Inc. agreed to the use of the name, someday subscribe to Fortune Magazine. In the spirit of nothing Is impossible, Brackenridge then suggested to some of the biggest U.S.

companies thatthey pay $30,000 each to have their names and logotypes ensconced on the game's 4-lnch panels. Some, he relates, didn't even bother to answer, and he Imagines their chuckles about his audacious suggestion. Others, however, seized the opportunity, seeing it as a unique new advertising medium. Alcoa, Chase Bank, Southern Pacific, Mobil, Pan American, Aetna Life tt Casualty and others signed and put up their $30,000. "We took in $900,000 before we ever sold a game In the United States," he says.

In the same spirit, some of the Cash grain CHICAGO AP) Wheat No. 1 hard red win ter 4 5Sn Friday; No. 2 sort red winter 4 0n 8orn No. 2 yellow 3 Sd'An (hooper) 3 4l'n (bo) ets No. 2 heavy 2 22V4n.

Soybeens No. yellow No. 2 yellow corn Wednesday was quoted e' (hopper) 3.2vn Potatoes CHICAGO fAP) tOSOA) Ma lor potato markets FOB hlppmg points IA Friday In im lb tacks: Minnesota round red 1 754 50; wiMxmiin rwsseH 0M Orgon russeH 7 00 00; 50 lb cartons: Idaho russets 1 0O-1I oO; VViscorrtln russets 13 00; Coloredo rvssets 15 00-1; 00; Oregon russets 1500-17 00, Michigan round whites 4.46-4.43. one reason being, Brackenridge tug- companies decided to exploit their ubt retyvl: wholetale. Ixiylng prices Friday woe unrwnl: A etra lerg 70, A large amallt nest fun breeklng Hoc gests, that young players might, new and monopolistic (onfj ad agen-.