The Journal Times from Racine, Wisconsin • 29

State good for business: Flynn tlic'loiimalHiqcsi By GMi Shrnma-JariMft Journal Times RACINE Wisconsin is a better place in which to do business than people think, says Lt Gov. James Flynn, Studies show the state is "In a good region, indeed we re in a good place in the world" for business, he said Wednesday. Flynn delivered thai message to about 50 Racine lawyers, architects, accountants and other professionals in the last of seven economic development conferences organized to help improve Wisconsin's image as a state for business The conference, co-sponsored by the Wisconsin Institute of Public Accountants and the state Department of Development, of whiclt Flynn is secretary, was aimed at professionals who advise business. Saying the notion that Wisconsin is a bad place for business is a perception rather than a fact, Flynn told the group, "Wisconsin government today is more interested in establishing this business link" and we are serious about keeping business in the state here The creation of the Wisconsin Business Permit Center lo help business through led t.kjH that often involves 200 different permits Flynn said the center also can help Wisconsin businesses cut through red 1 in other slates He said he-knows of at least two businesses, among Ihem a shoe company in Beloil. which came to Wisconsin directly because the permit center was able to help it Grants and funds for technology, development and labor training llarley Davidson Motor Co Milwaukee, is re training its entire workforce with stale money, he said.

Flxnn also pooh ioohed negative comments such as "the Rust Howl" about the Midwest, and said six Midwestern states have banded together lo promote the region as a place to do business. Flynn said the region has the sixth largest labor force in the world, a fifth of the world's supply of fresh water, and 45 million people. Wisconsin's position in the region and the state's commitment to business make it a good place for business, he said. Flynn said the state has a skilled labor force and stable and favorable corporate lax rate A study has shown the state ranks 47th among states terms of percentage ol taxes to the stale budget, he said, and added he exccls a reduction in the personal income tax in the next year Flynn said the state has created four task forces which recommended better communication with business and several other measures, many of which the state is implementing For example, he said, one recommendation was to form a state housing authority The state did and gave it a $95 million bond, he said Flynn listed other measures the state has taken to help improve the slate's business ell mate. Some of them: A foreign trade office Frankfurt.

Germany to help trade and secure "increased funding" for Wisconsin The state intends to open a similar office in Singapore, he noted A mentor program to help small business get up to 100 hours ol free business advice and training from experts. The creation of Forward Wisconsin to aggressively market the state and draw business Section THURSDAY, NOV. 1. 1984 zzz UPS contract ratified Business bits Compijed by David Pfankuchen In I Vfr WASHINGTON The Teamsters union said workers at United Parcel Service of America Inc. overwhelmingly ratified a 26-month extension of an existing labor agreement that includes some concessions to the profitable delivery company, the Wall Street Journal reported.

The union said 70 percent of the who voted supported the contract extension. The vote, completed late Wednesday, was 44,337 to 18,989. The contract includes three, pay increases averaging 5 percent, 3.7 percent and 3.4 percent during the life of the agreement, which runs through July 1987. But the agreement calls for United Parcel to pay an immediate $1,000 bonus to full-time workers. The bonuses are designed to allow employees to recoup part of the $1,414 in cost-of-living money that for the past two years has been diverted to pay for benefits under the existing contract.

The existing agreement won't expire until June. Union members protested last summer over the loss of their cost-of-living payments when the company reported rtcord earnings of $489.8 million for 1983 Jackie Presser, the union's president, quitely opened talks with United Parcel. The closely held company, based in Greenwich, demanded an extension of the existing labor pact's terms concerning work rules in exchange for a pay raise and bonus. Teamsters dissidents protested Presser' handling of the contract negotiations and successfully blocked the first ratification vote in federal court. A federal judge here ruled that the hastily organized first ballot didn't allow time for open debate.

Critics of the contract say it continues a two-tier wage structure for some employees and limits the possibility for cost-of living payments. i Storage Technology files for protection from creditors "was the best alternative available to the corporation for reducing the uncertainties inherent in its current capital structure." In its Chapter 11 filing in U.S. Bankruptcy Court in Denver, Storage Technology listed assets of $1.1 billion and liabilities of $694 .5 million. Under Chapter 11, a company is allowed to continue operating while it develops a plan to pay its debts. Storage Technology also said it is negotiating to obtain "a significant capital commitment to fund operations during the reorganization By Nancy Rivera Los Angeles Times DENVER Falling victim to its battle with giant IBM, Storage Technology Corp.

Wednesday filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy laws and said it is expecting a loss of more than $60 million for the third quarter. Louisville, Colo -based Storage Technology, a leading manufacturer of magnetic tape and disk data storage equipment, said company directors determined that Chapter 11 Astociatad Pieat As Banking practices probed Toosv-turw trowel in a i Paul Harden turns upsidedown to put the finishing touches on a new sidewalk at the University of Colorado in Bouldur. GM discloses price hikes DETROIT General Motors connection with more than $12 million in bank loans; a suit accusing an Oconomowoc real estate investor of using falsified title search results to obtain at least $3 million in financing, and a complaint by the Wisconsin securities commissioner's office accusing a Green Bay firm of selling $9.8 miullion worth of unregistered securities. "The entire matter is under active investigation by this office," Dixon said.

"We are in regular touch with the offices of the attorney general and commissioner of securities." MILWAUKEE (AP) State Banking Commissioner William Dixon says his office is investigating banking practices in the state in the wake of legal action last month in three alleged financial schemes. Dixon said Wednesday that the probe "not focusing on the principals" in the cases, but on questions the cases raised about banking practices, including the issuing pf credit extensions. The cases include those of a Fox Point businessman being charged with making false statements in TEXTRON REJECTS BID: Textron Inc. said Wednesday that its directors rejected an unsolicited $1.56 billion takeover offer from Chicago Pacific the Wall Street Journal reported. The Providence, R.I.

-based conglomerate said its directors concluded that the $43-a-share offer wasn't in its shareholders' best interest. No further talks with Chicago Pacific are pianned, Textron said. Textron, which earlier had called the offer unacceptable, said Wednesday that its financial adviser, Morgan Stanley determined that the price offered was "inadequate from a financial point of In Chicago, Chicago Pacific charged that Morgan Stanley never reviewed its arrangements for linanc-ing the proposed transaction. It also said that Textron hadn't made available confidential information that might have led to a sweetened offer from Chicago Pacific. The company, which purchased 36,000 Textron shares just before making its offer, reiterated that jt has no intention of acquiring additional Textron stock without Textron's consent.

Textron's holdings including the Jacobsen division, 1721 Packard Ave. JOHNSGN WAX: C. Johnson Son 1525 Howe said Brian C. Cockle has been promoted to marketing research manager, personal care, and Edward K. Grove to marketing research manager, insect control.

CHANGES JOBS: Orth-Abbott Insurance Service, 6939 Mariner Drive, said Buddy D. Alfano has joined the firm as an account executive. Alfano previously was with the Racine office of Laub Group Inc. at 5724 Washington Ave. FINISE-1 IN A Despite only a slight gain in home resales during the third quarter of 1984, the Wisconsin Realtors Association expects the state's housing industry to finish the year "in a flourish, the Associated Press reported from Madison.

A WRA report shows that 1 percent more homes were resold from July through September than in the previous three-month period Although the increase kept the 1984 pace ahead of 1983, the rate of increase was significantly lower than it was for the January-to-June period, when resales were up 10 percent, said Lee Martinson. WRA research director. Higher interest rates slowed the rate of increase for resales during the summer, Martinson said. Nevertheless, he said: "We're expecting the fourth quarter to be pretty good I think in total the year is going to end up in good shape." For the first nine months of the year, home resales were up 5 3 percent from last year, the WRA report said CREDITORS TO MEET: A first meeting of creditors has been set for 11 a.m. Nov.

7 at city hall in the bankruptcy of Bradbury's the corporation headed by Travis E. Bradbury that operated Bradbury's Rustyk Inne, a restaurant at 7017 Douglas Ave. that closed June 23. Bradbury's filed Chapter 7. or straight liquidation, bankruptcy papers last month in Milwaukee federal bankruptcy court, listing debts of $81,656 and assets of $2,925, a court spokeswoman said.

MOVING DOWNTOWN: Dolores Nielsen of 3530 Poe Ave. said the Candy House', a store at 3313 Washington Ave owned by her husband, Harry W. Nielsen, will move to 436 Main St. Plans call for opening at the Main Street location about Thanksgiving, she said. NEW OWNER, JETTYS DELI: The small two-story building at 309 4th St.

housing Jettys Deli, a carryout sandwich shop, has been purchased by Mr. and Mrs. Richard J. Perri of 5025 Bluebird Lane for $66,500 from Thomas Hermes and Harry A. Aza-rian Perri has moved the offices of his business.

Perri Environmental Services into the building's second floor from 6527 39th Ave. in Kenosha, and is operating the sandwich shop, which was opened by Hermes and They bought the building in March for $57,500, public records show. Perri said Perri Environmental designs and installs dust-collection and air makeup systems for foundries. FARM PRICES FELL: farm prices fell in October, continuing a decline that began in April, the U.S. Department of Agriculture said Wednesday.

Average prices recceived by farmers last month were down 0.7 percent from September, though they were 3 percent' higher than October 1983, the department said Farm prices have been declining since April, when prices set a record. October prices were about 5 5 percent below April's, arid were at the lowest point since last November. Lower prices for cattle, aogs. corn, chickens and eggs last month were partly offset by-higher prices for oranges, grapefruit, milk, lettuce and strawberries Farmers' average costs in October were down 0 6 percent from September, hut were 19 percent more than a year earlier STEEL LOSSES: With the U.S. steel industry apparently diving back into a slump, Bethlehem Steel Corp.

said Wednesday thai it lost 4 million in the third quarter, compared to a loss of rr: -in during the same period in 1983. the Los Angeles Times Bethlehem was the last of the major steel companies to reort its earnings, but only one of several to report significant losses during the quarter, as surging steel imports continued to depress prices and production levels for domestic steelmakers Among the six major domestic steel producers, only two companies. U.S. Steel Corp. and National Intergroup reported profits for the quarter, But most of U.S.

Steel's net earnings of $153 million came from its Marathon Oil Co. subsidiary, asset sales and a reduction pension costs, rather than from its basic steel business National, meanwhile, earned just $7 6 million for the quarter, down 58 percent from last year's $18 2 million SLUGGISH SALES: Major S. retailers said today their October sales were sluggish compared with a year earlier." a softening analysts attributed to unseasonably warm weather and weak demand for big-tAet items, the Associated Press reported from New York Industry" leader Sears. Roebuck Co said its October sales edged up 2 1 percent from the year-earlier month CONSTRUCTION SPENDING: Spending on new construction rose I I percent in September, its best gain in four months, the Commerce Department said todav. Total construction spending rose to a seasonally adjusted annual" rate of $115 billion last month, following three months of very weak activity advance lifted the overall total to the same level as in June STOCKS ADVANCE: Stock prices stared a moderate advance today aided by falling interest rates in the bond market, the Associated Press reported from New York The Dow Jones average of 30 industrials roe 3 64 to 1.211 02 by noontime on Wall Street.

Gainers held a 7-5 lead over losers among New York Stock Exchange-listed issues The NYSE's composite index gained .30 to 96 04 At the AmrncSn Stock- Exchange, the market value index was down 17 at 2f8 01 Volume on the Big Board totaled 42 'A million shares at noontime, against 41 49 million at the same point Wednesday provided on prices of many individual models, such as the J-body cars. Some consumers are "finding price boosts on this year's new GM cars are sometimes much higher than 2 3 percent GM also raised prices from $10 to $182 on the subeompact Chevrolet" Chevette and Pontiac 1000. is raising prices on its sub-compact body cars by as much as 4.2 percent An article in the Wall Street Journal said the auto maker announced in September that price increases on its 1985. models would average 2 3 percent but hadn't Feeling the pasn of rising doctors' fees John Cunniff YORK There seems to be little relief in sight for people who suffer from the pain of rising physician fees. A widely followed survey shows that such fees continue to rise faster than the inflation rate despite a request by the American Medical Association and state medical societies that members postpone increases for one year.

The survey, by the magazine Medical Economics, showed little slowdown in the rate of increases and even sizable increases by some specialists. increased at an annualized rate of 7 6 portent in the first seven months of after rising 7 5 percent in each of the preceding two years, it said. In each instance, the rate increases ran substantially higher than the consumer price index The index rose 3 2 percent in 1983. thclowest since 1967. and at an annual rate of less than 4 5 percent in the first half of 1984 The magazine alluded to the possible implications of the rising charges by asking the ques- tion.

"Are increases making a case for controls'' Public alarm and calls for action of various sorts have risen in recent yeirs as health care costs have continued to exceed increases in other consumer product and service areas study the feasibility ol controlling doclors' Medicare charges Concerned with the threat, the American Med ical Association issued its request lor a moratorium on fee increases, bill Hip. Medical Economic survey suggests that if some dor tors heeded the request, others did not "The survey findings indicate little lessening of the number and size of doctors' lee increases during the year ended last spring the rnaga zinc, which deals mainly with the financial and tax aspects ol medicine, reported It found that neurosurgeons, at THI for an mi tial visit, a 7 percent increase over early had the highest median for any speciality Fees (barged by pediatricians rose 15 percent, and in ternisl fees rose 14 percent For office revisits, the survey found, the me dian fee of orthopedists jumped percent, while office revist fees of neurosurgeons rose 12 percent Reflecting the growing concern ol the medical professions that Congress might attempt to im pose some type of limitations on (ees Arthur Owens, senior editor, commented "The bureaucrats' could be influenced by any significant slowing ol doctors' fee hikes tx lween now and then (next. yean, but such a slowdown seems unlikely Insurers attempted to (rack down on needless use of medical facilities by patients and on the amount they are willing to pay for specific medical procedures At the same time, officials have attempted to dissuade hospitals in the same areas from, duplicating costly facilities and equipment Hospitals themselves have attempted to be come more financially efficient, installing busi ness-like purchasing and billing procedures and hiring administrators familiar with the best business techniques In spite of such efforts, doctors' fees and med ical costs in general have continued to rise, in fluenced in part by new research findings, costly (ethnology, greater specialization anil an ever-, aging population Pressure for federal intervention has risen si multaneously. and Congress recently asked the Department of Health and Human Services to Grain futures Silver and gold War war 6 47 -i 6 S4 664 6 66 '1 6 S4 6 V3 6 42 6 Wl 67 6 6 S4'1 6 SS 4 6 171 6 71) 6 71 40 6 S7 4 034 4 0V 4 03 4 03 4 Ol'j 4 't 4 6 44'7i 640 6 67 6 67 6 6 4 70 Silver Chicago Mtd America 1.000 ounces V79. Marcn $71, sales orawailnole at source GOLD Chicago Mid ATit-riL 1 troy ounces December iliS 9G.

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