The Atlanta Constitution du lieu suivant : Atlanta, Georgia • 57

9 F1 0" THE ATLANTA CONSTITUTION Doily Indicators tt-Tv SECTION NASDAQ Frime rat Up 12.32 26-wtek T-bills 130.24 million Gold in New York Up 1.44 Briefi 9.5 NYSE 4., 7.24 NASDAQ 5 $323.50 Amex 3 -Mw average Wednesday, October 2, 1985 NYSE wolum Delta expect to add new flight to Europe r3fp weekly flight! from Atlanta to Shannon Airport in central Ireland, according to Pat-Han-rahan, a New York spokesman for Air Ungus, Ireland's national carrier. Donald By CaMn Lawrence Jr. and Maria Saporta Staff Writer Delta Air Lines is expected to announce Delta's three new destinations reflect Its continued interest in accommodating European traffic out of Atlanta. Earlier this year, Delta began non-stop flights to Paris. Paris followed London and Frankfurt as Delta's third European gateway.

tManaaBM Air Lingus and Minnesota-based North At. aMtlAa rA thmai 7m 1 Mw offer kui service to Shannon Airport, which feeds dodu- in Ireland. William Wren, a spokesman forjNotthwest in Minneapolis-St. Paul said not difficult for carriers to gain entry. (into Shannon Airport)." A Delta spokesman," to wait for a Wednesday morning Jtsi "conference at Hartsf ield International Airport, declined comment on the except to say that the carrier's new service "involves some connecting-type activity." In order to handle such growing routes, Delta has organized "a major expansion of 4ts fleet of International aircraft," which it will also detail at the press conference.

lar tourist sites near Limerick, Ireland. TV Atlanta-hacAil oarriap ha arrinffpd tA New" York-based Pan American World offer service in the near future from Atlanta? Theforecasts of a slowdown to Stuttgart and Munich in Germany, most likely through its existing Atlanta-Frankfurt service, according to observers in Atlanta's Industry observers familiar with European demand for air service from Atlanta had speculated that Delta would probably fly to Rome, Athens, Zurich or Madrid. Service to those cities, however; would likely require complicated bilateral negotiations and approval by the U.S. State Department Airways has already announced plans to start1 service next year to Shannon Airport, Air Lingus' Hanrahan said. "Obviously we'd prefer not to have the competition," he added.

"The likes of Pan Am and Delta are very formida Me," are premature international community. Moreover, an Irish newspaper has reported that Delta will begin next May offering six Some analysts have observed that gains in auto sales during recent weeks are unsustainable and have concluded that economic activity will slow sharply during the Rich's to renovate fall They appear to be forgetting that GNP measures production, not consumer spending. Certainly, sharp discounts pro both buildings of vided byautrdealerrlH financing 1985 models have caused a surge 4Btoa4esrrBgust, total automobile sales were at a season its downtown store ally adjusted 12.4 million units. tit During the first 20 days of Sep tember, sales of domestically pro- ByBevcriyY.HaIl Staff Writer duced automqbuesaveraged near- ly 12" minion units. Assuming imports 2.8 j.

mmlbn at annual rates, auto sales in September will be sharply faigh- 1- er than the strong August figure, i Once' the last 1985 model cars carrying financing incentives are sold, sales are expected to plum met Some analysts expect domes tic sales will faU to 7 million units or even lower in October. measures of consumer spending, such as retail saies.jfiU surge in August and September before plunging in October. However, economic activity should not follow a similar up and down pattern. Reducing inventories (. cs fi Pi i Instead, those sharp August and September sales gains are reducing dealer inventories.

While retail sales are soaring, inventory investments are plunging. Auto production, which can be used either to build inventories or to support sales, remained at the same sional vice president of store development for Rich's. The new interiors were designed by the Pavlik Design Team of Fort Lauderdale, Fla. The refurbishing project will start with the street level of the Broad Street store and will move upward, Davis said. The project will take one year, and no store operations will be interrupted.

Five floors of the building's seven floors will be upgraded. Renovation plans do not include the basement Budget Shop and the recently renovated sixth floor, which houses the Magnolia Room restaurant photo stadio and travel agency' I Juniors and women's apparel will be relocated' to the second floor and thildreri's wear and intimate apparel; will be on the third floor. Home accessories will be moved from the Store for Homes onto the fourth floor of the Broad "Street building and the Finale (for clearance items) will remain on the fifth floor. Only home furnishings and greeting cards will remain in the Store for Homes, which occupies 622,000 square feet. Davis said 194,300 square feet of that building will be leased as office space.

A variety of entities now lease space ia the Forsyth Street building. A commercial interior design firm and the business operations for the in-store travel agency occupy parts of the plaza level B.F. Goodrich Tire Service leases space on the plaza leveL A local joint-venture day-care center will also lease space on that level. On the street level, a grocery operated by Boston-based J. Bildner ft Sons will open in April 1986.

Rich's sister chain, Richway, also owned by. Cincinnati-based Federated Department Stores has offices on the third and fourth floors. Rich's Academy for high school dropouts operated by Exodus Inc. is on the sixth floor and Rich's merchandise buyers are in the basement of the Store for Homes. iiua nai Ma vuuwiiuaj va tivif wy vwawm vnvuuvv twaivw nw iwa tiuvu wv Restaurants group's corporate offices building at posed reaovatioa work has been completed.

Rich's Department Store executives announced Tuesday that a major renovation of the downtown store buildings will begin in November. Renovation plans call for consolidating merchandise from the two existing buildings into a revamped Broad Street Store, and conversion of a portion of the Forsyth Street building into leased office space. "This represents the first full-scale interior renovation of the chain's flagship store since it moved to this site in spring of 1924k" said Charles F. Frew, regional vice president of the Rich's chain. Rich's officials declined to comment on how much the renovation will cost For years, Rich's downtown location has been divided between the Broad Street store, popularly known as the Store for Fashion, and the Forsyth Street store, called the Store JTomisiW'-'- The two are! joined; by aerial walkways that house merchandise and public cafeterias.

After the renovation, the Store for Homes building will contain Rich's merchandise only on the fifth floor and a small portion of the street level of the building. Located on the southern edge of the downtown Atlanta business district, the two Rich's buildings cover two city blocks bordered by Alabama; Broad and Forsyth streets and Martin Luther King Jr. Drive. The buildings contain 1.2 million square feet Of that space, only 300,000 square feet is devoted to selling merchandise. Eighty-five percent of this selling space will be upgraded and refurbished, Frew said, We ore making 1 dramatic changes and improvements on every floor, highlighting the original architectural structure with its high ceilings and such to lend a very open, elegant feeling to' the store," said Manning Davis, divi St 8.3 million domestic units in Au gust that were built In July.

Peasant offices group mdving Ik Robust sales have depleted iauto inventories, providing dealers with sufficient financial resources to aggressively order 1988 models to fill their lots. Auto producers are aware of the inventory needs of their dealers and will be running plants near capacity through the fall By the end of this year, plunging sales will be offset by rising inventories until dealers re build their stocks of available cars to their desired 60 days of current Group's executive offices and the basement will be used a. test kitchen, maintenance shop and training rooms. The building's street level will have more than 10,000 square feet of leasable space. The exterior will be redesigned by Gregory Wright of The Kirkland Group.

The interior design will be by John Oetgen, but the original 1920s 'architectural design will be preserved. Owners Richard Dailey, Stephen Nygren and Robert Amick said the relocation of their offices to the downtown area is intended "to show our Commitment to the i revitalization of the inner city' Nygren said the Peasant Group's relocation to downtown actually means coming back to its roots. The chain operates 10 restaurants in metro Atlanta. It was Just a few doors away from the proposed Peasant luilding where the Peasant group opened its first restaurant The Pleasant Peasant, in 1973. The chain has since grown to 13 restaurants in two states and the District of Columbia.

Another of the i See PEASANT, Page t-D RestaurcuU firm's new corporate headquarters will be downtown By Beverly Y.HaB Staff Wtiitr The Peasant Restaurants group said Tuesday that it has purchased a warehouse at 459 Peachtree Street which will be renovated to house its corporate offices. Refurbishing of the 60-year-old building has begun and by January, 50 employees will occupy the 33,000 square-foot The need to centralize all departments and support functions was cited as reasons for the relocation of the company's main offices from 3390 Peachtree Road. A purchase price was not disclosed. Formerly occupied by the Atlanta Surplus and Salvage Store Fixtures, the two-story, red-brick building will be renamed The Peasant Building. It is adjacent to the offices of the Atlanta Ballet Co.

The top floor will be occupied by the, The Peasant sales. Last Friday's trade report also provides evidence that activity will strengthen in the fall As imports slowed, Inventories of mate rials have dropped. The dollar also has fallen in value. When producers rebuild these stocks, they will turn some of those orders toward domestic suppliers. Lower trade deficit Of course, the reduced trade Spruill tract project deficit in August which was not anticipated by the government in its early estimates, will lead to higher GNP estimates for the will include housing Sales almost certainly will be Increased even more than the 4.9 percent gain after inflation announced in the early GNP re port 1." If auto sales remain near 7 million unit; through the fourth quarter, production in excess of Bf SaDye Salter multi-use complexes to replace the suff writ 4 Uk Heart and Oak Forest rest-' Daltas-based Rosewood Prop- iSRSSSSUS erties Inc.

plans to include at least IzZ bFSLiM 200 residential units in its high-; to-22TiuS! density commercial development 8 on the 19-acre Spruill tract near PPlUo1' to November. Perimeter Malt i The conceptual site plan, If its plans are approved, which is likely to be modified, was Rosewood would become one of done by the San Francisco office very few developers to include of SUdmore, Owings ft MerrilL It housing in a higlHlensity commer- calls for the residential units, dal complex in the Atlanta sub- 4 which would be constructed atop a 8.5 million units Will provide too ft er 'IJ-ril much inventory early in 1986. At that time, new sales incentives and slowing production may be CM doesn9t seem ready to jiMk) plant ByTomBaOmas StaffWHUr Neither industry analysts nor spokesmen for General Motors Corp. appear ready yet to give up on GM's Lakewood manufacturing plant despite Monday's announcement that the aging facility is out of the running for production of the new midsized 'W car series. Pat Ryan, manager of the GM facility at Lake-wood, fold the plant's 3,300 employees Monday that the assembly line will not be retooled for production of the proposed new autos.

But Lakewood Is expected to continue operation in one form or another, at least for the-foreseeable future. "There's been a lot of speculation in the press (about phasing out Lakewood), but there's been no announcement from GM. I don't think its a case of we're going to go somewhere else to build a plant" GM spokesman Ron Updyke said Tuesday. "We recognize what a valuable asset the workforce at Lakewood is, and every effort is going to be made to find another product for that workforce to build." The Lakewood plant is GM's only source for its smallest domestically produced cars, the Chevrolet Chevette and Pontiac 1000. And it is likely that GM will continue production of those cars at least through the end of the decade.

necessary to restore inventory bal ance to the industry. In summary, robust auto sales parking deck, and the hotel to be urbs. Rosewood paid 22 million have had minimal impact upon for the site, in June. The site plan also calls for two located along Ashford-Dunwoody. Two-story retail space would be stretched along Hammond Drive.

25-story office buildings that automobile production during the summer months. Reduced import growth also has lowered the inventory holdings of materials. The would contain a total of 941780 on the northern boundary of the mmnlaMr ttfuf wuiM amm ain square feet of space; an 18-story, vMtv wmv vwwh wrH vuw mat interior courtyard. The two office towers would overlook 1-285. success of auto financing incen 250-room hotel; and 130,000 square feet of retail space.

0 tives will increase auto production it t- during the fourth quarter. The Rosewood parcel is the i The tract was purchased by only remaining undeveloped quad- Rosewood for about $1.19 million rant at the intersection of Inter- I per acre. The Soruill family had Materials inventory "rebuilding also will stimulate domestic activ state 285 and Ashford-Dunwoody nut the property on the market JOE MCTYREStaff ity. As a result economic activity it Koaa. The property has been used for farming.

two years ago for 11.3 million an "acre, or a total of $25 million. Minority businesses saluted should grow more vigorously dur Mr ing the fall than in the summer. The office-space density sought by membw of the family Only in 1986 should analysts begin to look for a slowdown in the economy as a result of the unsustainable auto sales surge in recent weeks. of Texas financier and oil mac- "My feeling is the Chevette will continue to run until; there is another low-priced GM car, possibly even the Saturn," Which is slated to roll out for the 1990 model year, Arvid Jouppi, an independent auto analyst in Detroit said In telephone interview Tuesday. "GM needs something in the low-priced area." GM also needs the small cars to boost its aver-ago fuel economy for the GM fleet Ravlnia project for example, has a density of 38,000 square feet per 4-1 Frankle Jennings Cosmetics Richard Wash-ingtoo and Margaret Cole arrange cosmetics in tbelr exhibition booth at the Omni International Hotel daring the week-long Atlanta salute to local minority The event is a precursor to a national declared, by President Reagan for the second week of October, honoring the (00,000 minority business owners in the United States.

acre. i nate H.L Hunt The firm, which Is -involved in the development of more than 30 VS. properties, has office or hotel projects in Dallas, Washington, D.C., Denver and Dotmld Rttafcui is the director of the Economic Forecasting Project at Georgit State lniverai- During the summer, the De-Kalb County Commission denied two rctoning applications to allow J54 See LAKEW(J0D, Page 7- f' BEST rite COPY AVAILABLE FOR.