The Atlanta Constitution from Atlanta, Georgia on January 7, 1982 · 30
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The Atlanta Constitution from Atlanta, Georgia · 30

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Atlanta, Georgia
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Thursday, January 7, 1982
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30
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2-n. THE ATLANTA CONSTrTTTION, Thm-.. Jan. 7. 1982 NSI Expects Record 1982 Sales OiyState -P. T r vuun oars uemoimons On Portman Hotel Site UUil: tt From SWT and Prtii DIimicDm m '.-.' !f: Si-:- The Times Square hotel that Atlanta architect John Port-man has been attempting to build for a decade was delayed -again Wednesday by a federal appeals court ruling that barred Mew York City from proceeding with its planned demolition of two historic Broadway theaters on the site of the proposed hotel. . , . - The 2nd Circuit Court of Appeals in New York sent the case back to the district court with instructions to issue a preliminary injunction against demolition until final determination jof an issue raised by the Natural Resources Defense Council .:, . Noting that the ruling urged the district court to expedite final action, Portman said, "We have every confidence that the outcome will be prompt and favorable and that the project will ;; r go lorwara wimoui lunner aeiay." , . ; - ( ? . The city had argued that a delay in the demolition of the Helen Hayes and Morosco theaters "will entail considerable ex ,1:. pense ana that the existence of the project may be at stake be- v v cause the financial "package' may collapse." . The court ruling noted that while the city "will suffer harm from further delay of the Times Square project," this is offset by the fact that "any further litigation will be futile after the theaters have been destroyed." Ga. Economy Grows Weaker ?tf''f''Georgto 'economic decline "intensified noticeably" la . November, and leading indicators showed no signs that the i! recession is bottoming out, according to a report issued Wednesday by the Economic Forecasting Project at Georgia State University. "Economic activity will continue to decline 3;,J noticeably through the first quarter of 1982 in Georgia," said the project, which is directed by Donald Ratajczak. Leading " indicators suggest that housing activity in the state will not ' l 'show an upturn through the first quarter of 1982, while rising '' ' .unemployment claims and layoff rata suggest that unemploy-'. rrient will continue to increase markedly for the next several ' '-"months, the report sail The "eroding profitability of Georgia's y" corporations" was the largest contributor to the weakening V condition In Georgia, the report said. After adjustment, corpo-rate profitability declined at a rate of 36 percent in November. Andersen 20008 Earnings Grow ; ;" : Andersen 2000 Inc.. an Atlaria-hased manufacturer of "- Industrial pollution control equipment, has reported record ' ri earnings and sales for Its fiscal year ended Sept. 30; Net In- TVm-rcTYinlrf-ic tr pome increased 79 percent to $959,809, or 48 cents a share, wa"--.tT compared with $536,402, or 27 cents a share, for the previous fiscal year. Sales increased 65 percent to $9.8 million, com-pared to sales of $5.9 million a year ago. President Jack D. Cr i rady said the company's work for oil production companies and its toxic waste incineration business had not been affected ; by the same forces that have depressed the economy. The i."' company also reported that its order backlog increased 95 per-r cent to $4.31 million last Sept 30 from $2.21 million at Sept 30,1980. institutions for money for home loans. It also called for elimi- nating laws and regulations that slow the flow of money to housing and for offering all institutions tax incentives to Invest ' more heavily in residential mortgages. ' Average Mortgage Rate Falls v The average Interest rate charged Americans for new home loans tumbled to 17.54 percent in December, the government said Wednesday. It was the biggest one-month decline in mortgage rates since July 1980. The Federal Home Loan Bank Board's report said the new average effective commitment rate on long-term, fixed-rate mortgages fell 0.62 percentage Klnt from 18.16 percent in November. November's rate had Hen slightly from the October record of 18.17 percent : Record Textile Deficit Seen ' - The American Textile Manufacturers Institute has projected that the United States may ctalk up a record $6 billion textileapparel trade deficit In 1981. The institute based its forecast on statistics released Wednesday that showed imports of textile and apparel products grew 94 percent from November 1980 to November 1981, to a total of $563 million. Imports' were valued at $941 million, up 33 percent from November 1980, while exports were down for the second month in a row, dropping 10 percent to $378 billion. For the January-November 1981 period the trade deficit in textiles rose 38 percent to $5.3 billion. Eastern's Traffic Fell Eastern Airlines said Wednesday it flew 2.14 billion revenue passenger miles in December, a decline of 10.7 percent from the 2.39 billion revenue passenger miles flown In December of 1980. For all of 1981, Eastern flew 26.1 billion revenue passenger miles, 7.5 percent fewer than the 28 J billion It flew In 1980. Western Electric Layoffs Western Electric Co., the manufacturing arm of the Bell Telephone System, said Wednesday It will lay off 1,200 workers at its Indianapolis residential telephone plant indefinitely on Jan. 15. The plant has 5,700 workers. . Bulletin For Sale Again ' The financially troubled Philadelphia Bulletin, once America's largest afternoon newspaper and a Philadelphia institution for the past 134 years, is up for sale for the second time In two years. In a statement distributed to the staff assembled in the newsroom Wednesday, NL "Buddy" Hayden, president and publisher, said that the Charter Co. has a prospective buyer, which was not identified.;. National : Changes Urged In Home Financing rinW Inn. ' ' Sloping changes need to be made In the nation's home " financing system if money is going be available to meet the de- mantf-lor residential mortgages in the 1980s,, a presidential ' rtu&rilssion said Wednesday. In a preliminary report, the presi- ' dent's commission on housing urged that the financially ailing : , - savings and loan Industry the primary source of home loans . -a.", be,, given widespread powers so it can compete with other Joha Lawrence Watson HI senior vice president and director of equity trading of Atlanta-based Robinson-Humphrey Company Inc, has been chosen 1982 chairman of the District No. 7 Committee of the National Association of Securities Dealers Inc, the self-regulatory organization for the over-the-counter stock market The committee reviews staff examination re- ?9rts on brokerdealers. . . . Atlanta-based Continental elephone Corp. has elected Ralph Delio to the newly created position of corporate vice president-human resources. He was formerly vice president-human resources at Tonka Corp. in Spring Park, Minn. . . . Gary IL Stewe has been promoted to assistant vice president financial planning, for The Credit Bu reau Inc. . . . Orlaid H. bag, division claims manager for the Southern division of Liberty Mutual Life Insurance Co, will retire Jan. I and will be succeeded by Daniel B. Miles, currently assistant claims manager. . . . George M. Shea, vice president, secretary and corporate counsel of National Data Corp., has been re-elected to the board of directors of the Association of Data Processing Service Organizations and named vice president of competitive practices. -, ..... ENGELHARD FINE SIESHEEl DABS AwhMe in l-oz. 10-,IOO-w. sizrt ; AlAtms. RARECOINSINC S525 Ptedmoot Rd, N.E. , Suite 215 (404) 261-4601 Sajm IhmR AramflMu St.. NmDi IMtMifc Vndli Ml 9S2-3444 MM3IS K2-1111 WE SEK0 A RECEIVE TELEX MESSAGES WORLDWIDE Your low cost alternative In Telex Communication (404)452-0502 FREE CHECKING WITH IRA Here are 5 good reasons to open an Individual Retirement Account with Southern Federal : Deposits are Insured safe by an agency of the federal government, the FSLIC. You earn a high rate of return through ;N.the entire period. WUU.Clif . r No fees or service charges. r t jwo plans to choose from -fixed and '--"variable rate. : Southern Federal Account dIus the first 200 checks are FREE - lust for opening your IRA with us. 'lllgible for a FREE Southe n,l514 Action Checking Ac VJ4 i - For More Information Call JimHickmon 881-6879 SOUCKSm FGDSPaL Savings and Loan Association of Atlanta - . MatnOMc:7KWMttoacMrMitrMl.N W.Oicw 5410. Atlanto. Gaorgia 3037V (404 N-t79 NorthUd lioneh: 4241 Romwtl Road . N E ., Atkmla.GMtgla 30342(404)252-6690 Northlak (ranch :J40 lo Vlito Rood, i','-' Iuck(, Georgia 3004(404)931-3214 UWa Sprtngi Ironch: WS fan Bonkhtod Hwy UNO Spiir0t. Gaoigia 3O0S7 (404)941-6913 FMcllithree iamre mmal TlH MMM Uffi For more information on how our Individual Retirement Account can work for you, stop by or call 455-8787. AtRachtreeBanlTlFindaW&yi MemlmFDIC. DONT OVERPAY COMPARE RATES , FAST SERVICE ETP.i F&M Realty I vAl VI Mortgage Corp. An Affiliate of First & Merchants National Bank Peachtree-Dunwoody Pavilion ' 5775 Peachtree Dunwoody Rd. Suite 290-D. Atlanta, Georgia 257-1057 By Emily F. Rabin I Conrtllultoo Staff Wrlltr Natioqal Service Industries Inc.'s chairman' said Wednesday he expects new records in sales and earnings per share for the company's 1982 fiscal year, barring further weakening- of the economy. . Erwin Zaban, who also holds the post of chief executive officer, made the prediction at the - Atlanta-based conglomerate's annual 1 ' stockholders meeting, adding that he estimates the recession . will last , for ; eight more months. , ' "We have felt the recession," he said. "Our growth has slowed up a bit" Sidney Kirschner, president and chief operating officer, said sales and earnings growth slowed in the previous fiscal year and In the first quarter of the current period. He said the record growth projected for the 1982 fiscal year, ending Nov. 30, will probably come on smaller increases in sales. ' For the three months ended Nov. 30, National had net income of $12.1 million, or 97 cents a share, compared with $11.7 ' million, or 92 cents a share, In the same quarter a year ago. Sales rose to S200 million from $203 million. National's three principal businesses lighting equipment, linen and industrial uniform service, and chemicals posted record sales and earnings in the first fiscal quarter. Robert Creviston, vice president for finance and treasurer, said National's earnings in the current fiscal year will depend largely on the performance of those three businesses. Zaban emphasized to stockholders the strength of the company's balance sheet National currently has a record $29.5 million in cash and short-term investments. CNN Employees Trying To Join Union By Maria Saporta . CffHtHutlo SMI Wrlttr Employees of Atlanta-based Cable' News Network Inc's two 24-hour news channels are trying to unionize in hopes of higher wages and better treatment The National Labor Relations Board in Atlanta should reach a decision on the union petition sometime this month. Its decision will involve who will be able to join the union, but an S4m'iiwww-5 election for union renresenia- tlon will take place about a month later unless the NLRB decision is challenged by either the onion or CNN management - ""The overwhelming majority of the people in the jobs we are claiming signed cards for a petition," said Jim Wilson, associate business manager of Local IS of the National Association of Broadcast Employees and Technicians (NABET). On Dec. 11, 14 and 15, NABET, and . management representatives held hearings before the NLRB. A decision from the board should be delivered sometime in Janu ary, according to Douglas Walldorff, acting director of the Atlanta office of NLRB. , Employees of the network, which is a subsidiary of Turner Broadcasting System Ino, are seeking a union in hopes of bet ter working conditions. - "Money is an issue," Wilson said. "A very large percentage of the people there make minimum wage. The goal of the union is to improve wages in part, but that's not the primary objective of the union.: ; 1 : :.v The primary objective is to get the company to treat the people with a bit more dignity. We all realize that they can't - pay network wages, and we certainly don't want to do anything that would hurt the competitiveness of the company; But we think they can pay better than they're paying," Wilson continued. .- , .; CNN Will Join Paper In Polls Reese Schonfeld, president of CNN, acknowledged Wednesday an "enormous" difference between pay at CNN and the New York-based networks. "But I can't see any way that we can pay a great deal more," Schonfeld said. "We don't make money here, we make news." One of the main points of contention is that management views many of its employees as trainees, while the employees consider themselves professionals. "It is' an internship-type training program," Schonfeld said "We hired 300 people, most of whom were just out of college and had never worked in their lives." According to Wilson, NABET would like to have as broad a representation as possible, including technicians, graphic artists, engineers, directors and satellite technicians. CNN management, on the other hand, would like the union to represent only video journalists at CNN L Reese Schonfeld ' The Los Angeles Times and Turner Broadcasting System Ino, owner of Cable News Network, have agreed to con-' duct joint public opinion polls. - The first poll, which is scheduled to be conducted within a month, will be a national survey of people's attitudes after the first year of President Reagan's adminis tration. The LA. Times, which has been conducting its own polls since 1977, will continue to have primary responsibility for carrying out the new joint Ells and will continue to pub-h the findings as the "Los Angeles Times Poll." CNN - will identify them as the "Los Angeles Times-CNN Poll" I Fulton 4, UFfederay ,A ti 1982 Fulton Ftdertt Savings and Loan AsaocKtlon. TAX-EXEMPT BOND FINANCING FOR LIFE-CARE CENTERS 1-5 S 1155 i r: r , fi.ii i til m " i -"A ,1 T A 1 QLENBROOK SQUARE ,a "Atlanta's most prestigious retirement community" Join us on January 15 at 3PM And become fully informed about the tax-exempt bond financing methods for life-care centers. Reservations requested. ' Come with your spouse and financial advisor to our Tea &. Sherry Gathering at Atlanta's Northwest Hilton. Discover how you can take advantage of this new concept of independent living and also qualify to become a Charter Member of Lenbrook Square-Atlanta's worry-free community for retirement , years. If you are approaching 62 years or older, or have loved-ones you want to live nearby, come find out about Lenbrook's 100 refundable entrance fees and the many other amenities we have to offer, including on-premise Health Care facilities. ; ' ; , v For retirement living that offers security, comfort and luxury... look to Lenbrook. Make your reservation to join us for Tea &. Sherry by January 13th. vv :T v ; -': , ' ' ":'-i". ; 'Charter Membership to! Lenbrook. Square is limited and will be -unavailable upon upcoming ground breaking. Please reserve seats at your Tea &. Sherry Gathering on January 15, 1982. : twaswMMid ' p i' Name: Address:. City: State: Zip: . Map to Northwest Hilton. Phone: , Send to or call: Lenbrook properties, '3400 Peachtree Road, Suite 141 1, Atlanta, Georgia 30326. Phone: (404) 233-3000 5

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