Austin American-Statesman from Austin, Texas • 29

Austin American-btatesman 62.0 uiuiauay, iviaicn bu, MoPac uncertainty stymies giant mall "lli -I fa david frink No firm predictions yet, but it looks like loan money at Austin savings and loan associations and banks is tightening up a bit. Savings inflows have slowed as interest rates on the open market (government bonds, for example) have become more attractive to investors than savings' rates. Tbe resulting "disintermediation" lessens the amount of money the and to a lesser extent, banks, have to lend out. "generic label" products. Others refer to them as "No Name" grocery items, while still others introduce them as "Plain Wrap" products.

In each case, the idea is the same, to offer ordinary, everyday grocery products at a lower price. The fact that many food chains are making cheaper products available is nothing new. For years, stores have stocked plain label items and "store" brands priced below traditional private label, nationally-advertised lines. What's new is that most supermarket chains have decided there is an ample market for that type product and now are promoting them. H.E.B.

has decided to call its "store" brand items sold at lower prices "No-Frills Label" items and will display them in a central store location. "Since there is no fancy packaging and advertising, H.E.B. is able to buy standard grades in large quantities from manufacturers and our costs are less. These savings are passed directly to the cusotomer," says Bob Chapman, director of marketing for the Corpus Christi-based chain. Austin Savings promotes two Glenn Pittsford has been promoted to assistant vice president and Betty Har-gis to corporate secretary at Austin Savings.

Pittsford, also manager of the Georgetown branch, has been with Austin Savings five years. Hargis has been with the association 20 years. 'New economies' risky you've said a lot ry dollars Nfefl sense ffy Chris Whitcraft a UUOIIICOO WIIIOI lit is being kicked around by several political entities, including the Austin Transportation Study and the state highway department. Meanwhile, the Target discount chain is just about ready to announce its entry into Austin. The chain operates in Houston and Dallas now and reportedly will have two Austin outlets.

One source warns, however, that although both Austin sites have been chosen, the "contracts aren't signed yet and they (Target officials) could walk away at any time." Don't look for that to happen and do look for Target to open stores on Ben White Blvd. and U.S. Hwy. 183. Some grocery stores call them say Bud, succeeded in producing "a truly national brand, and in leading to a dramatic decline in regional beer manufacturing, particularly after World Warll.

Today, there are only about 50 American brewers compred with 400 or so two decades earlier. Moreover, the top five companies in the business today account for about 70 percent of sales compared with 60 percent in 1970 (and the top five firms are not the same). By the early 1980s, the top companies' share probably will exceed 80 percent. Anheuser-Busch dominates the business now as it did at the start of the 1970s, with 23 percent of all sales last year. What changed in the business is the arrival of Miller Brewing in the No.

2 spot, with 15 percent of sales last year. The subsidiary of Philip Morris was only seventh in the industry seven years earlier. The other beer industry giants are Schlitz, Pabst and Coors. OVERALL, U.S. brewers shipped 157 million barrels last year compared with 150 million in 1976.

Estimated 1977 per capita consumption of 22.4 million gallons was a record. But, according to such industry analysts as Emanuel Goldman of Sanford C. Bernstein the only companies that really count in terms of sales growth are the biggest Busch and Miller. The prospects are that, although beer consumption continues on an upward trend, most companies remaining in the business won't share the growth on a level consistent with current market penetration. Dennis P.

Long, 41, vice president and general manager of the Busch brewery division, agrees with this assessment. LONG SAID his company increased its market share in the first two months of 1978 to a level never achieved. The Jimmy Carter Council of Economic Advisers with Charles Schultze as chairman is copycat-ting "new economists" of 1962 under President John F. Kennedy in a far less congenial environment. That "new economics" was a need to stimulate demand in an economy blessed nearly a decade with stable or nearly stable prices.

A reluctant Congress and balky Treasury went along. Taxes were cut. The federal budget was deliberately unbalanced. Inflation turned out to be not a risk. Today the Schultze council in a far less congenial environment is committed to essentially the same policy, Citibank economists write.

CE A says today as its predecessors said then that there are ample supplies of capital and idle labor. Growth in real output at a rate above long-term trends won't cause resurgent demand-induced inflation. But that is a very long gamble, say Citibank economists. It assumes not only the cushion of idle resources is there, but that it is fat enough to prevent acceleration in prices within an economic climate that is shot through with expectations of high inflation. The risk of error is compounded by playing down the role of monetary policy, and urging other countries to pursue more stimulative policies, espcially Germany and Japan.

local otc Development of the giant shopping mall planned for Southwest Austin is being stymied by the uncertainty of a timetable for extending MoPac southward to Loop 360. Without the extension, or concrete assurances the road will be cut, developers and retailers can't feasibly commit large amounts of money on a shopping center that without the road would have little access. Several large retailers are planning on becoming anchors in the mall, to be known as Barton Creek Square, including J.C. Penney, Jos-kes, Sears and Montgomery Ward. But the plans of those retailers, as well as some smaller Austin stores, have been put in limbo by the lack of a MoPac South completion plan.

As one local retailer said, "You can't go to a financing organization and ask for money for a new store when you don't even know when the store might be built." The mall, incidentally, is planned for the plausible intersection point of MoPac and ioop 360. It is to be built by Mel Simon Associates of Indianapolis. The holdup on MoPac's extension has been caused by arguments about access to what originally was planned as a boulevard. The design en you By WILLIAM H.JONES Washington Post Service ST LOUIS Anheuser-Busch's huge brewery here is a reminder that private enterprise once lavished huge sums on man's working environment. The Brew House correctly has been designated a National Historic Landmark.

Built in 1891-1892, the brick fortress with clock tower is a Victorian delight. Intricate ironwork, painted white, surrounds openings on each floor and is used as stair bannisters, while columns have goldleaf decorations. Natural lighting from huge windows saves energy. Anid a multistoried chandelier, with the metal carved as hops, hangs through the center of the structure. Although crowds of tourists gape at these unusual industrial workplace decorations as they are conducted on regular tours, the most unusual fact about the Brew House is that it is not a relic ast all, like an old steam railroad locomotive.

Busch employees work here around the clock, manufacturing beer and keeping the place spotless. NO, ANHEUSER-BUSCH operates more than a museum, and more than teams of Clydesdale draft horses. While certainly aware of and anchored to a rich history that dates back to 1875, Anheuser-Busch Inc. is today waging a deadly serious business war designed to make certain that the Brew House remains at least a symbolic centerpiece of the world's largest brewing firm. Although a publicly traded company, Busch remains under leadership of the founding family.

Chairman August A. Busch III says his great grandfather, Adolphus Busch, "set out to brew a beer that would be universally popular, transcending regional tastes, preferred over the hundreds of local regional beers brewed in America in the 1870s." IF ONLY ADOLPHUS Busch could see how well his young firm I i i I I I. GALLON SIZE Wh 00 43k IP Long also said competition in the American beer business now amounts to a "two-horse race" between his firm and Miller. "There is considerable room for growth we have only 23 percent of the market, far less than other companies in other industries," said Long, expressing his view that there is no need for federal government action in response to the increased dominance of sales by a few firms. Although reluctant to make specific forecasts, Long said beer volume this year should be close to the 30-billion-barrel range.

Expansions at beer factories across the country, including a doubling of capacity at the modern Anheuser-Busch brewery at Williamsburg, should bring the firm's annual output capacity to 51 million barrels by 1981. TO ACHIEVE a sales volume of ANY WOODEN CLOCK PLAQUE OR FIWAE REG. .99 TO 7 a $11.95 WITH Center piece is the gross national product of all goods and services and size of the gap between potential and actual GNP. It's really simple to estimate the gap as the difference between potential and actual GNP. But it remains enormously difficult to pinpoint a plausible potential.

Factors include hours people are willing to work at varying levels of real income; what quantity of capital invested in productive enterprise; technology or new knowledge in designing plants and equipment and impact of government policy on willingness of people to work and savers to invest. Such complexities make it a small wonder that estmates of GNP gap vary widely. George Perry of Brookings Institution tags the gap at $99 billion. St. Louis Federal Rserve offers a low $43.2 billion.

CEA split the difference and pegged the gap at $74.4 mbullion. Clear danger is using estimates to lull the nation into pursuing expansionary monetary and fiscal policy that will trigger new inflation, says Citibank. Bl i 5 1300 ii' ll JI40 170 2I' 54 2 43't 171 7t 5 14 387 10'. 87 161-H 12 IH 135 17' 24 7i 35 34' 259 3''l 31 12H 138 V't 10 2P- '4 13 20H Vt 81 19'4 '4 352 30'i '4 50 IH1 Vi 588 7 ft 27 134- '4 87 9H '4 70 107 18 '4 4 26 WorldAir Wrigly 2.40a 113 1 68'. '4 4 9 98 t4 26 47 21.

42 42'B 682 3l'il'. 334 13'l- 108 16'i '4 37 13'. 442 17'. 486 I0' A 309 14- VI 77 15'. Wurltir .40 Wyiam WyleLb Wyly Xerox XTRA Yates ZaieCp ZaieofA Zapata ZavreCp Zenith Zurnlnd .32 2 .64 .20 .92 .10 1 .60 NY Slock Sain Approx final Previous day Week ago Month ago Year ago Two years ago Jan I to date 1977 to date 1976 to date 25.450.000 21.600,000 21.010,000 is.aio.ooo 17,522,300 1,753.792,650 1.260,110,000 A footnote should be added to yesterday's item reporting burgeoning department store sales in Austin.

During the last period for which statistics are available the third quarter of 1977 retail sales nearly reached the $800 million mark in Travis County. If you know of a business or real estate deal in the works and would like to share it, call David Frink at 397-1262. that magnitude, Busch is expanding its product lines and markets for existing drinks. Long said the company's program includes: Introduction in the District of Columbia and 30 states on April 3 of the company's Michelob Light Beer. Initial sales, also on April 3, of Busch Bavarian beer in the New England states.

Test marketing later this year of an entirely new drink, which "could be in-competition with certain soft drinks." Long would not describe the product further. Possible introduction of a "stronger, dark" beer at ultra-premium prices, an entirely new market sector. THE LIGHT BEER is obviously a key to the Busch strategy, because No. 2 Miller now dominates that sector with two-thirds of the sales for its Lite. New partner Jim C.

Langdon, left, the former chairman of the Texas Railroad Commission who retired the last day of 1977, is a new partner in the Austin law office of Akin, Gump, Hauer Feld. He received a UT Austin law degree in 1940 and worked three years for the FBI before joining the U.S. Navy. He is a former chief justice of the Civil Appeals Court at El Paso. LIGHT DIFFUSER REG.

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