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Leader-Telegram from Eau Claire, Wisconsin • 23

Publication:
Leader-Telegrami
Location:
Eau Claire, Wisconsin
Issue Date:
Page:
23
Extracted Article Text (OCR)

StateNation TUESDAY, Nov. 27, 1990 LeaderTelesram 3D Toyota to add at least 1,500 jobs at Kentucky plant automakers have declined, prompting plant shutdowns and temporary layoffs. Toyota officials have spent the past several months scouting locations for a new assembly plant. The Georgetown area always has been on the short list of prospective sites, in large part because of the" availability of land. The company now uses only about 500 of the site's 1,300 acres.

Toyota announced it would build the initial plant, its fust wholly-owned U.S: assembly center, in December 1986. The plant brought an investment of $800 million and attracted state incentives GEORGETOWN Ky (AP) Toyota will almost double production at its central Kentucky plant, adding at least 1,500 jobs and investing an additional $800 million, company officials announced today. The expansion will allow the company to rum out an additional 200,000 Toyota Camrys a year. Construction will begin next spring, and production should start by the end of 1993, company officials said. Toyota Motor Manufacturing U.S.A.

'Inc. now builds about 220,000 Camry models each year at the plant about 15 miles northwest of Lexington in blu'egrass country. valued at $135 million in land, training and site work. The first cars rolled off the assembly line in May 1988. The company later expanded the Scott County plant with the construction of a $400 million drive train plant.

Toyota also makes cars at two other North American sites. Toyota Corollas and Geo Prizms are produced in a joint venture with General Motors Corp. at Fremont, Calif. Toyota produces its Corolla model at a plant in Cambridge, Ontario. The company recently announced it will build small pickup trucks at the California site in 1991.

About 3,450 people, including administrative personnel, now work at the site. With the expansion, Toyota's total investment in the area will reach about $2 billion by 1993, said Alex Warren, a senior vice president. Toyota President Fujio Cho said in a statement: "Being able to expand here is a tribute to all team members at Toyota Motor Manufacturing who, in only two years, have achieved what many strive to accomplish throughout a lifetime." In praising the workers, company officials pointed to a recent survey that found the Camry to be the most trouble-free car made in America.The survey of 1990 new-car buyers was conducted by J.D. Power and Associates. Cho said the expansion at Georgetown might allow the company to increase exports of the model.

The company already exports Camrys to Taiwan and has announced plans to export as many as 40,000 Camrys and as many as 100,000 engines to Japan starting in The expansion comes at a time when Toyota is bucking the new-car sales market in the United States. While the company's American sales increased by some 13 percent in the last year, sales of the three leading American if 4 i im 1 Trade imbalance highest in a year WASHINGTON (AP) The U.S. trade deficit swelled to $29.75. billion in the July-September quarter, the highest imbalance in a year, as the Persian Gulf crisis drove up the cost of foreign oil against a drop in demand for American farm products, the government said today. The Commerce Department said the trade gap in the third quarter was a sharp 28.9 percent higher than the $23.

10 billion imbalance in the April-June period. The second quarter deficit had been the lowest in more than six years. The turnaround occurred because imports shot up 5 percent to an all-time high of $125.91 billion while U.S. exports edged down 0.6 percent to $96. 16 billion, reflecting the drop in demand for Ameri 1 i I VxL ft can farm products.

The deficit is the difference between imports-aruL- -exports, 4 Regulator: Senator had deal for WASHINGTON (AP) Former banking regulator Edwin J. 'Gray said today that Sen. Dennis DeCon-cini offered a deal in a 1987 meeting to have a disputed regulation withdrawn on behalf of Charles Keating's Lincoln Savings and Loan Association. Gray, in dramatic testimony before the Senate Ethics Committee, described the April 2, 1987, meeting he had with DeCorcini, an Arizona Democrat, and three other senators. Gray saicLDeConcinL askedJiiirL to withdraw a Federar Home Loan Bank Board regulation limiting the ability of state-chartered savings and loans, such as Keating's, to make risky speculative investments.

The ex-regulator also said that DeConcini said that, in return, Lincoln would be willing to make more home mortgage loans, the traditional business of savings and loans. "Deconcini said, 'We're very concerned about this direct investment regulation of yours. We're concerned it's unconstitutional. We'd like you to withdraw it until we can find out if it's constitutional. If you can do that, we'll get our friend at Lincoln to make more home Gray said he told the senators he would not do that, and the senators went on to other issues, raising concerns about the length of the bank board's examination of Lincoln and its appraisal of Lincoln's assets.

Gray said DeConcini the least passive" of the four senators in the meeting but that all asked questions. "I considered it to be improper," Gray said of the session. Not fired up AP Laserphoto fighters' pumps and froze water on their clothing and equipment today. As many as 150 firefighters were on the scene. The two tanks on fire held as much as 12.5 million gallons of jet fuel.

Exhausted Denver firefighters take a break from battling the fuel storage tank fire at Stapleton Airport. The fire started Sunday and may burn until Wednesday. A snowstorm knocked out fire- The July-September imbalance was the largest quarterly deficit since a $29.80 billion deficit in the same period last year. Since that time, the deficit had been on a steadily declining path as a boom in U.S. export sales helped to narrow America's huge trade deficit and give the economy one of its few bright spots.

However, since Iraq's Aug. 2 invasion of Kuwait, economists had been forecasting that a higher foreign oil bill would translate into a rising trade deficit, adding one more negative factor to an economy already flirting with a recession. The figures in today's report on merchandise trade calculated on a balance of payments basis confirmed trends already noted in the-" department's monthly merchandise trade reports. The monthly report showed the third quarter deficit rose to $28.27 billion. The small disparity between the two reports reflects the fact that the balance of payments report excludes military sales by the U.S.

government and makes other minor adjustments to the monthly figures. The higher July-September deficit reflected a $6. 1 billion increase in imports. Petroleum imports were up $3.5 billion to $15.7 billion, reflecting a rise in both price' and volume. Non-petroleum imports were up as well, climbing $2.5 billion to $1 10.2 billion as auto imports from Mexico and Canada rose.

Fxisting-home sales fell 4.7 percent in October to their lowest level in nearly six years, a real estate trade group said today. High court to rule on divorce they commonly award one of the spouses sole ownership of the family home and the other spouse property of equal value. But if there are few assets to offset the worth of the family hom.e, divorce courts often order the spouse awarded the home to make cash payments to the ex-spouse to balance the scale. A lien is imposed on the house to secure those payments. That is what happened when Gerald Sanderfoot and Jeanne Farrey were divorced in 1986 after a 20-year marriage.

Sanderfoot was awarded ownership of the couple's Wiofnncin in Hnrtnnvilln hi WASHINGTON (AP) The Supreme Court has agreed to study the relationship of federal bankruptcy law and divorce settlements in a Wisconsin case. It said Monday it will review a ruling one judge said makes bankruptcy law "a tool by which bounders defraud their spouses." The justices said they will decide whether divorced people awarded ownership of the family home may use federal bankruptcy law to avoid their ex-spouses' corresponding award of a lien against the home. The court's decision, expected by July, "will affect many of the 1.2 million divorces granted every year in this country," the justices were told. When state divorce courts divide marital property, make cash payments to Farrey. r-saK.

jrm- Jackpot winner to keep playing the lottery DEER Food to cost slightly more in '91 WASHINGTON (AP) Consumer food prices will climb in 1991 at a much slower pace than they did thjs yeMLhtAgriculture Department predicted today. James R. Donald, chairman of the department's World Agricultural Outlook Board, said the 1991 forecast calls for an average food price increase of 2 percent to 5 percent, compared with almost 6 percent this year. "Projected record meat supplies, higher dairy product output and the likelihood of bigger citrus crops this season will moderate food price rises," he said. Further, Donald said in a paper delivered at the department's annual outlook conference, food marketing costs will rise more slowly if overall inflation eases to around 4.5 percent instead of this year's 5.5 percent to 6 percent.

Donald said the outlook for 1991 "points to a year of near-record incomes for U.S. farmers" as cash receipts rise with larger sales and higher prices for a few commodities. Meanwhile, fanners will see production expenses increase, partly because of higher prices for energy-related items. I DEER PROCESSING SAUSAGE MAKING Garlic Dried Venison He plans to keep his job at the Monongalia County Technical Education Center, where he teaches about heating, ventilation and air conditioning. He said he may buy a few more Christmas presents than usual and plans to pick out a new car, something he hasn't done since 1975.

"Twenty or 25 years ago, I would have given you a different answer," Collins said. Clad in a short-sleeved shirt, dress pants and black shoes, Collins said he was a little shocked when he discovered his ticket matched the numbers drawn on Nov. 21, "but I believed it." Later, pressed a little more by reporters on his reaction, he confessed that he laughed and cried until tears were running down his neck to the inside of his collar. CHARLESTON, W.Va; (AP) Arnel Collins won't stop playing the lottery even though he just won a Lotto America jackpot that will give him about $150,000 a year after taxes. "Not that I want to be greedy or anything but if I get a chance this afternoon I'll play," Collins said Monday after being confirmed as one of the winners of a $7.8 million jackpot prize.

Collins will share the jackpot with Edwin J. Braun and his wife, Wanda, of Russell, Kan. Braun, 64, a retired oil field supervisor, and his wife were identified Monday afternoon at a news conference in Topeka, Kan. Collins, 45, of Morgantown, also doesn't plan to change much about his lifestyle, even though he will receive an estimated $3.9 million over 20 years along with a Kansas couple, Sausage Bratwurst Ring Bologna Summer Sausage Double Wrapr ad Sharp Frozen Bring In Your Clean Boneless Meat For Sausage FENNIE MEAT PLANT 2 Miles South of Colfax on Hwy. 40 Dial 962-3825 Ll llffil III ill Forecasters say U.S.

in recession WASHINGTON (AP) Seventy-five percent of the nation's top economic forecasters contend the nation has into a recession, although two-thirds expect it to be mild and end by April, according to a survey released today. "Recession is here," the National Association of Business Economists said in a report on its canvass of 51 professional forecasters. The finding was a dramatic switch from an NABE survey just a year ago, when 62 percent of the forecasters said the economy would escape a recession through 1992. Just after the. Iraqi invasion of Kuwait in August, 45 percent of the forecasters said a recession either had begun or was imminent.

Some economists on the current panel who say the downturn has not yet begun predicted a recession would begin early next year. Only 15 percent of the panel continue to hold to the "no recession" scenario. --The NABE survey mirrored an earlier survey this month by Blue Chip Economic Indicators. Eighty percent of the 52 prominent economists participating in that study said a recession will begin before year's end. Here's your chance to strut your stuff.

The Citizen Bee is an innovative national academic competition that challenges high school students to become more knowledgeable about American history, government, geography, economics, culture and events. Competition is held on all levels including school, regional, state and national. Church leader dies in crash WICHITA, Kan. (AP) The Rev. L.D.

"Linnie" Hudson, state leader of a Church of God denomination, died in a plane crash after preaching in two Kansas towns on Sunday. Hudson, 63, was Kansas overseer for the Church of God, Cleveland, Tenn. His wife, Margaret, 60, who also died in the crash, was a secretary at the state office. The pentecostai evangelical denomination has about 30 churches and nearly 3,000 members in Kansas and more than 500,000 members nationwide. Hudson came to Wichita to serve as Kansas overseer about 2Vi years ago after serving as state overseer in Wisconsin for six years.

The Hudsons' plane hit the ground vertically at a "high rate of speed," said Bill Bruce, an inspector with the National Transportation Safety Board. REGISTRATION DEADLINE IS DECEMBER 15, 1990. Entry fee includes 6 copies of the Student Sourcebook, answer key and coordinator guide. For more information on how you and your school can participate, contact John Bachmeier, NSP at 715-839-2651 or Tim Abraham, Leader-Telegram at 715-833-9226, Lab identifies remains found by hunters tell, us that the clothes she was wearing at the time she disappeared were similar to the clothes they found where they found that body," Peterson said. PHILLIPS (AP) remains found by deer hunters in the town of Fifield last week have been identified as those of a Lac du Flambeau woman missing since May, authorities said today.

The State Crime Laboratory identified the body found Thursday as that of Susan Poupart, 30, Price County Sheriff Wayne Wirs-ing said. Wirsing said authorities from Vilas County and the crime laboratory would take part in the investigation. Poupart was reported missing May 30 when she didn't return from a party, her sister, Sandra Peterson, said. "The Sheriffs Department did Till CroSliC 050 LesderTelegreni An Educational Competition of the Close Up Foundation ENDORSED BY THE WISCONSIN COUNCIL FOR THE SOCIAL STUDIES.

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