The Atlanta Constitution from Atlanta, Georgia on December 18, 1982 · 19
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The Atlanta Constitution from Atlanta, Georgia · 19

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Atlanta, Georgia
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Saturday, December 18, 1982
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19
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uecemper la, 1982 Th Atlanta Journal WEEKEND The Atlanta Constitution s . 10-A-- lrowii9 Guide will ; be sold to Days Inn By Robert Snowdon Jones SUftWrlltr Brown's Guide to Georgia, a popular regional magazine that ceased publication in October because of financial troubles, will be sold to Days Inns of America for an undisclosed price. The Atlanta-based hotel chain said Friday that it will acquire the leisure magazine's copyright, trademark and subscriber, list, but it has no immediate plans to resume publication. "Days Inn will not assume any of the liabilities of Brown's Guide Ltd., the magazine's publisher, or Alfred Brown, the company's founder and principal shareholder. In addition to the sales agreement. Brown will be hired to head Days Inns' quarterly publication, September Days, which is distributed to 500,000 members of the hotel chain's September Days Club. The club, open to persons aged 55 and over, offers discounts at Days Inns' 322 hotels, motels and restaurants nationwide. j "We want to put more emphasis on our publication and upgrade the quality of the magazine," said A.B. Albritton, a1 Days Inns spokesman. j Albritton did not rule out the possibility that the hotel chain would resume publication of Brown's Guide at a later date. "We're in the hospitality business, and, obviously, Brown's Guide was a travel magazine. The fit is good there, he said. "We don't know at this point in time, what we might do in terms of the magazine itself, but we bought a future option to consider the publication." Albritton said that Days Inn might con-, ceivably use the Brown's Guide subscriber list" to seek potential guests for its new luxury country club in Savannah, called Mulberry Inn. Brown said in an interview that he was "sick" about the prospect of shutting down Brown's Guide, which had a circulation of about 63,000 before debts brought it to a halt with the October issue. He said he regretted that subscribers will not be reimbursed for unfulfilled subscriptions. The magazine was the largest circulation non-trade monthly pub lished in the state. Proceeds from the sale will be used to pay tax obligations. I He said editing September Days will allow him publish the same type of travel-oriented articles that appeared in Brown's Guide, but with a national rather than Georgia focus. Brown said while Days Inns has not indicated it will publish the magazine again, he said, "Maybe someday they will resurrect it" Brown's Guide laid off employees in October when it ran out of funds to print the November issue. The issue would have been the magazine's largest and potentially its big- GM bonus not a job, but it helps By John Maynard Stiff Writ The General Motors Corp. Lake-wood plant bustled with activity Friday for the first time since its shutdown in September, as 1,200 autoworkers showed up to collect the next best thing to a job a $300 Christmas bonus check. For most of the autoworkers, it . had been nearly a year since they last ' punched a time clock at the southwest Atlanta plant Most of them have exhausted both their supplemental union -. benefits and unemployment checks. Td much rather have my job tack. But this sure helps," said Denny jiall, an autoworker for 13 years who was laid off last February. "We're all Tvery appreciative. It's going to help us stretch out another month." "This $300 is like $3,000 right t now," added Bill Langston, a 14-year veteran of the plant "I had a few bonds '"'saved up and had to cash them. Lately ;"Tve had to borrow money to pay the groceries and utility bills. The $300 is gonna be Santa Claus for me and my family this Christmas." On Friday, GM distributed approximately $30 million in Christmas bonuses to 100,000 eligible workers across the country. "While it's obviously no substitution for a full-time job, we hope it will make. the holidays a lot happier for some workers," said Ron Updyke, a GM spokesman in Atlanta. "We're optimistic that with the economy improving and interest rates ' . coming down that there will be more I ' work soon," Updyke said. ; The indefinite closing of Lakewood ; ' last September, caused by swelling inventories of the Chevrolet Chevette . and Pontiac T-1000, was the final step ; in a four-year decline in production. In its heyday, the plant ran two ' assembly lines one for trucks and 1 another for passenger cars on double shifts. In Nov., 1979, truck production , j , , . . it . . j il&t- ":- '" :;tlllllitltlf Ifilf lp4'V -3 DWIGHT ROSS JR.Staff Laid-of f GM worker Bill Langston shows $300 Christmas bonus check was cut in half when one shift was eliminated. In March of 1980, truck production was phased out entirely. In Feb., 1981, the second shift of the passenger car line was shut down. While the company has never speculated when the plant might be reopened, the United Autoworkers Local 34 at the Lakewood plant is telling its members that the plant might be restarted next May. U.S. autoworkers are both blessed and cursed. With hourly wages averaging $11.76, they are the envy of the industrial sector. But when times are bad and layoffs stretch into months, it's especially tough for autoworkers to find other work. "The minute you tell an employer you're laid off from GM, they practically show you the door," said Denny Ball, a 13-year GM man who is going through his second year-long layoff. "I've been seriously looking for another job since May. If you put GM anywhere on your resume, that's about as far as an employer's consideration for you will go," said Ball. "They figure that as soon as they train you to do another job, the auto plant will reopen and you'll go back to GM, which I guess is the truth for a lot of us. If I could get a good secure job, I doubt I'd come back here," Ball said. gest revenue producer. , -;1 - Brown unsuccessfully sought a buyer or partner in hopes of publishing a jobt. November-December issue. He said he negoUi ted with several potential purchasers. A former Brown's Guide editor, who did i not wish to be identified, said Brown's Guide, ; Ltd. had never been able to pay off debts thai accumulated since the magazine's beginning. in 1972. Even though the magazine had tz-.i ; perienced a recent upturn In ad revenues,,; "that apparently wasn't enough to cover the-; accumulated debt" Brown started the magazine as a pari-,! time business when he was a public relations y agent for Delta Air Lines. - locks rally sharply after a 3-day decline Th AuociilM Prm . NEW YORK - The stock market reversed a three-session decline Friday with a sharp rally led by blue-chip and consumer issues. The Dow Jones average of 30 industrials, off more than 34 points in the three previous trading days, climbed 21.25 to 1,011.50. The average finished the week with a net loss of 7.26 points. Volume on the New York Stock Exchange totaled 76.01 million shares, up from 73.68 million Thursday. The Dow average's close of 990.25 Thursday was its lowest since it stood at 986.85 on Oct 8. But analysts said the market appeared to have attracted some buyers who believed a "support level" existed at 990 in the Dow. The average has rallied several times from around that level in recent weeks. Brokers said the market also seemed to respond favorably to assertions by Chairman Paul Volcker of tyie Federal Reserve that the central bank wasn't abandoning its anti-inflation policies. In an appearance in Mayfield, Ky., on Thursday, Volcker said, "If we are successful on inflation, interest rates have no place to go but down." He predicted economic growth next year, but said big federal budget deficits were a "point of reservation" in the outlook. ' , , Among leading blue-chip and glamour stocks, International Business Machines gained 2 to 93; Texas Instruments 4 to 137tt; Eastman Kodak 1 to 84Va; McDonald's 3 to 58tt; and Procter 4 Gamble 2 to 116. , ; ; In the retailing sector, Sears Roebuck added V to 30; K mart 1 to 22 V, F.W. Woolworth 1 to 24, and J.C. Penney to 48. Auto stocks also fared well, with Ford Motor up Wt at 37, General Motors up 1 at 59, and Chrysler up . at li. .; 1 :: v iv- - Airlines were another strong spot benefiting from reports of strong holiday-season passenger traffic. Delta rose 1 to 41, AMR 1V to 24, Trans World 1 to 28, and Eastern to 8. A.G. Edwards picked up 2 to 32 on higher quarterly profits, and other securities brokerage and financial services stocks also generally showed strong gains. The market has backed off about 5 percent from the peak it reached in early November, when most leading averages hit record highs. But since Aug. 12, the market value of 5,000 actively traded stocks still boasts a gain of $368.67 billion, according to an index calculated by Wil-shire Associates of Santa Monica, Calif . Advancing issues outnumbered declines in Friday's activity by about 2 to 1 on the Big Board, and the exchange's composite index rose 1.16 to 79.20. Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 88.31 million shares. Delta seeking larger share tit Dallas market By John Maysard Stiff Writ When Delta completes its $100 million, ; expansion at its Dallas hub, it will have ' more gates than its chief competitor,"-American Airlines. On Thursday the Atlanta-based carrier-; - which is the second largest operator at Dallas behind American announced that: . it will spend $100 million at Dallas-Fort-, : Worth Regional Airport to add 22 gates the 15 at its current terminal. Delta said it will complete the exp"Snv , sion in three phases, with the first $39 mil-. lion phase scheduled to begin in May. Phase I will give Delta six new ga&s? at its Dallas terminal. The first phase, t U . 1 i J I ! wmcn snouia.De completed oy june, win,., also add 800 parking spaces and increase the carrier's baggage and ticketing areas. Delta spokesman Bill Jackson said construction dates for the second and third phases have not been set. :. - -p "It all depends on demand," Jackion said. I Most of the first phase of expansion is being financed by general airport revenue bonds, Jackson said. Marriott betting its budget on a full economic recovery by 1984 By Tom Walker Stiff Writer The Marriott Corp., one of the nation's major hospitality firms, is betting its budget that the economy will be in full recovery by 1984. James E. Durbin, president of the diversified hotel, catering and resort corporation based in the suburbs of Washington, D.C., told the annual meeting of the Atlanta Convention & Visitors Bureau on Friday that business should begin a slow recovery late next year and build momentum into 1984 and 1985. ' "How do I know that?" he quipped. "We're budgeting for it" Durbin expressed concern about the rising cost of hotel construction, but he predicted the hospitality industry would become "the world's largest industry" by the year , 2000 a prediction that has been made by hotel experts before. According to Durbin, population shifts are creating a new market for affluent "self-expressive, inner-directed" travelers in their thirties. "This will become about 25 percent of the market," he said. A theme stressed by Durbin and Ted Sprague, the new Atlanta Convention Bureau president, was the need '.for cities such as Atlanta to Spend more money promoting travel. Durbin said the United States spends 6 cents per capita promoting travel, compared with 65 cents spent in Canada. "Every $29,000 spent by visitors creates one new job in the travel industry," said Durbin, calling that figure a fraction of the amount needed to create a single manufacturing job. The Marriott Corp. has a long and close relationship with Atlanta. The Atlanta Marriott which opened in 1965 as the city's first convention hotel, was only the fifth hotel built by Marriott, and its first in a downtown location. When completed in 1985, Durbin said the 1,800-room Atlanta Marriott Marquis being built by Atlanta architect-developer John Portman will be the chain's largest convention hotel. Portman-Marriott' joint ventures are building Marquis hotels in Atlanta and New York City. : The expansion "demonstrates our be- f lief in the continued growth of Dallas-F Worth as one of the Western world's mi vital transportation centers," said Jack: Westman, Delta's marketing director -4a v :'Vi The expansion also demonstrates? Delta's intentions to grab a larger percent- age of the Dallas passenger market, which -j, is currently controlled by American AirO' lines. ' ! $ In July 1982, the latest figures avafl-; able, American boarded 65.7 percent of the passengers at Dallas, compared to 17.8 percent for Delta. Delta has 99 flights per-! day, compared with 240 flights by Ameri- can.'.... , g Since the bankruptcy in. May of Bra-?, niff Airlines - until last year the dominant carrier in Dallas - Delta has added 4 service from Dallas to Austin, Lubbock i Amarillo, Kansas City, Newark, Tulsa a'nd Oklahoma City. Effective Feb. 15, Delta will fly from Dallas to Albuquerque. Delta emnlovees 1000 neonle at Its N Dallas hub. New hotel dubbed 2- ...... 'Marriott Marquis' i. kjm- , , ' HZ By Sallye Salter Stiff Writer i ' ' "Architect-developer John Portman and the Marriott Corp., have dubbed their hotel under construction here the Atlanta Marriott Marquis. .' ,The Marquis label, which will also be used on the Times Square convention hotel the second co-venture of Portman and Marriott could also possibly be applied to additional hotels developed by this team, Portman said Friday. The name was selected in order "to give this class of. hotel a different image," he said. , The 1,674-rcom Atlanta facility, which will be the city's largest is under construction near Peachtree Center on the site formerly occupied by St Joseph's Infirmary and high school. The New York Marriott Marquis will contain 2,000 rooms. While Marriott did not rule out the development of other Marquis hotels with Portman, a company spokesman said that the name selection for these two lodging facilities does not mean that the corporation is launching a new line of Marriotts. ' Officials of both companies were in Atlanta Friday for a ceremony marking the signing of the first convention booking at the Atlanta Marquis. The National Council of Physical Distribution Management booked 1,400 rooms I for its 1987 conMpition. , IS Cm ?J , H I 1- u Money supply up $3 . 5 billion-: . : The nation's basic money supply expanded by $3.5 billion in the week ended Dec. 8, the Federal Reserve Board said Friday, lifting the measure further above the central bank's desired growth targets. But because the Fed is temporarily ignoring changes in the basic money measure, the latest increase was of little consequence to the direction of interest rates, credit analysts said. Bond prices and interest rates on Treasury securities traded in the open market showed little change after the Fed's late-afternoon money announce, ment. :". - ... Investment in new accounts slows ;; RICH ADDICKSSljitf Jeffrey Kurosk signs for hotel convention as Marriott president James , Durbin (left) and architect John Portman watch : ' New investment in money-market savings ac counts at banks and savings and loans fell sharply : Friday after, most Institutions reduced the interest ; rates on Thursday. Even so, total deposits for the : week exceeded $1.2 billion in metro Atlanta insti- i tutions. The statewide total likely was more than $ billion. With a change in federal regulations, ' the accounts became effective Tuesday. Reagan seeks to lift home loan lid With applications for government-insured home loans surging, President Reagan asked Congress on Friday to raise the current fiscal year's limit on them. The limit, currently $39.8 billion. . : for the vear. would be raised to $45.9 billion under ;, his request. The figures are for the total of prlvaft; " home loans insured by the Federal Housing A Administration. . Reagan's request represenis-j switch fof the administration, which tried earlK i this year to keep the fiscal 1983 limit relative! ! low. v.'H:' ;- ; Lanier foresees earnings drop '," Lanier Business Products Inc. of Atlanta sid ! that, based on preliminary information, its earn-1 ings for the second quarter ended Nov. 26 was below the year-ago quarter's earnings of $9.6 mil: g lion, or 64 cents a share, on sales of $158.7 mil & lion. The company said general weakness in the S M i tit economy nas uppurenu bhjwcu micb (ivww certain areas of the country but that overall rev- , nue for the second quarter will 'likely be modest ahead' of the comparable period a year ago. . Canada won't protest lumber dutiesJ Z , v- . .-. , -4 Canadian International Trade Minister Gergd Regan rebuffed demands Friday that the govern- I ment make a formal diplomatic protest over eat- tempts by the U.S. lumber industry to have higher duties imposed n Canadian lumber. -

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