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The Atlanta Constitution from Atlanta, Georgia • 61

Location:
Atlanta, Georgia
Issue Date:
Page:
61
Extracted Article Text (OCR)

ri' Wednesday, Sept 13, 1995 Tha Markets E4 Computers Low supply hurts Apple's clone plans Business Report, E2 CZD. Business in Brief IlillS I ,1,1 I I I Dow average 4127 Nasdaq -Ii6 Prime rate 8.75 Earnings Report Georgia Stocks The Atlanta Journal The Atlanta Constitution 26-week 533 Stock tables E4 ID mgvy ait Ffepsi eMwi 1 Mayor to fight exterior advertising By Darryl Fears STAFF WRITER tlanta Mayor Bill Campbell But Pepsi spokesman Brad Shaw said the company reserved the right to advertise inside and outside GeoNova. Shaw said he was surprised Pepsi's involvement made Campbell "hostile toward the project. But if that's the case, so be it. We're going to proceed." The mayor's remarks were the first political rebuke of Pepsi, which announced Monday that it would sponsor the $40 million project within walking distance of archrival Coca-Cola North Avenue headquarters.

Olympics organizers, determined to protect sponsors such said Tuesday that Pepsi-Cola day be Atlanta's No. 1 attraction. "I will make certain before I endorse another project that I have a full understanding of the sponsorship and its ramifications," Campbell said. "I am disappointed that my support was in essence a tool used to attract sponsors." Campbell said the possibility Pepsi might advertise on the globe's outer surface irked him. "I tell you what it's not going to be," he said.

"It's not going to be a giant advertising sign." The mayor didn't say what he could do to stop Pepsi or GeoNova's developers, who at some as Coca-Cola from "ambush marketing" by rivals, also accused Pepsi of trying to muscle its way into the Games. In a promotional video distributed by GeoNova's developers, Robert and HOnora Foah of Atlanta-based Visioneering International Campbell and former President Jimmy Carter were among several prominent Atlantans voicing support for the project. The mayor predicted the 15-story globe which would house theaters and an interactive museum surrounded by a giant outdoor projection screen would some point must meet with Leon. Eplan, city planning commis sioner, before proceeding. Eplan said he wasn't sure what hurdles GeoNova might face, bj cause "they don't have a site ye- and I haven't talked with theubtC GeoNova spokeswoman Pau? la Hovater said she was surj prised by the mayor's reaction, adding the project's emphasis i I on education and that advertis-v-ing would be kept to a Campbell and a spokeswom an for Carter said developer told them GeoNova would play depictions of Atlanta nd( Southern life.

I won't disDlav outdoor adver tising at GeoNova if he can help it. Campbell added that he was 1 MARIA SAPORTA i ,0 Timing's good for city's new finance officer The timing is fortunate. Next week, representatives from three bond rating agencies will be in town to review the city's financial records and decide whether Atlanta should keep its favorable ratings. Fortunately, Atlanta will be represented by John F. Wenderski, 45, who was just select upset his earlier support was used to attract the soft drink company's sponsorship of the proposed education ana entertainment complex in Midtown.

A higher education in ed by Mayor Home Depot ft fails to soothe wary Wall Street fi nflrW Bill Campbell to serve as chief financial officer, if confirmed by the City Council. Wenderski, director of finance for Prince William County, already knows people at the Stock falls after company makes report to i LI John F. Wenderski faces several critical issues. By Chris Roush STAFF WRITER 7 bond rating agencies. Hyman Grossman, managing director of Standard Poor's, was Factory floor changing: The annual Bobbin Show is full of evidence that college graduates with sophisticated technical skills can quoted Tuesday in Bond Buyer, a trade newspaper, as saying Wenderski "is very good." Atlanta has a tradition of strong CFOs who have been the link to the business community.

command higher salaries. By Susan Harte STAFF WRITER "He'll have the latitude that other CFOs have had," Campbell said. f'i 31 fW few Andre Whitener should command a Wenderski has his work cut out for him. Atlanta is facing starting salary between $35,000 and several critical financial issues. $38,000 when she graduates from col lege, a far cry from what apparel and textile companies paid a generation ago.

The city's budget is tight. Underground Atlanta is being Home Depot stock fell as much as 5.9 percent Tuesday after Chief Execi; utive Officer Bernard Marcus told ana-' lysts in New York that the retailer wou'ld' trim its new-store expansion in 1996. The world's largest home ment retailer will add 90 to 95 stores next; year, 10 to 15 fewer than projected earH- er this year, to focus on improving pro--ductivity and customer service. In extremely heavy New York Stock; Exchange trading, the company's stock; 1 closed at $40.50, down $1.75. i "You know how fickle Wall Street 4 said Robinson-Humphrey analyst Dai'-! Wewer.

"The stock really hasn't done; anything in two of three years. A lot of in-l vestors went to the meeting hoping tbj hear some catalyst to get the stock going' up." The analyst meeting, held on Longtsv land at the company's new upscale Expo store, was the first one the Atlanta-based company has held. Not all of the 230 ana-; 1 lysts who attended took the slowing' growth as a negative. "I think it will help margins," said Kenneth Smith, an analyst with Inter-! state Johnson Lane. "But when you have a slowing in expansion, some people have' a problem with it." The prospects for Whitener and other refinanced.

The city faces hefty fines from the state for not reducing phosphorous content in its waste water. The city's han textileapparel majors have changed because the industry has moved from hand looms to computer controls and lasers. That's increased the demand for techno dling of its investment portfolio is under investigation by the Securities and Exchange Commission. And the city has not had a permanent CFO for five months; the previous one lasted in the job two months. "The investment issue needs to be clarified and put be hind us," said Wenderski, who faced a similar situation in Virginia.

"We will make sure there are good people in place to han Making overtures dle investments. I'm not going Photos by MARLENE KARAS Staff The Bobbin Show is brimming with high-tech influence, from the computer-generated design by Mike Woodhull (top) to the pressing equipment examined by Lawrence T. Haddock and student Andre Whitener. The conference was a chance for to be tolerant of people who are not doing the job they are sup posed to. I have a good sense of what is right and wrong.

However, Wenderski faces a political hornet's nest. The number of students has doubled in the last 10 years. The CFO reports to both the How wages stack up Average starting salaries for June graduates of North Carolina State University. mayor and council. And the mayor isn't even on speaking terms with Robb Pitts, chair man of the council's finance committee.

The mavor said logically sophisticated graduates while it's meant fewer jobs for line workers. Nowhere is that more evident than at this year's Bobbin Show, the world's biggest sewn products trade show. The exposition at the Georgia World Congress Center continues through Friday. It's expected to draw 45,000 people, but is not open to the public. With new technology have come higher starting salaries for college grads.

They beat the national 1995 average for computer-science graduates by 8 percent and accounting majors by 30 percent. Security sought At the same time, textile studies are becoming more popular because they are jSeen representing a route to job security. "Students and their parents are more concerned about choosing careers in stable, but challenging, industries," said Lawrence T. Haddock, head of the appareltextile engineering department at Southern College of Technology in Marietta. That creates a boon for textile schools, which are attracting double the number of students they did 10 years ago, educators say.

At North Carolina State University's College of Textiles, the number of graduates has increased 40 percent in the past three years, but the number of interviews required to find them jobs has shrunk 10 percent. "They're getting hired faster," said college recruiter Ed Fouche. Along with colleagues from schools like Iowa State, North Carolina State, the University of Massachusetts and the University of Wisconsin, Haddock has a booth at this year's Bobbin Show. He's using it to recruit not only students, but companies to hire them. Whitener, 25, is one of those hires.

The Monroe native is a co-op student who works in Commerce for the Bassett-Wal- Monday that Pitts' treatment of" the previous CFO, Kathy White, was an "abomination" and contributed to her leaving. $36,031 $34,606 $31,650 $30,436 $28,061 Again, Wenderski has had broad political experience, hav Home Depot to get cozy with an ly Wall Street. It has seen its stock price drop 12 percent this year, partly because it has missed analyst expectations-of earnings for the last three quarters, v'. The company has also scaled back ex- pansion plans for Canada and Mexico! and said a slowdown in sales this spring; was a result of the economy. In addition, Home Depot told analysts Tuesday that it would enter markets by the end of the decade.

It.is currently adding infrastructure and coil-; ducting research to grow outside of its. U.S. and Canadian markets. "We're going to have a very large in' ternational presence," Marcus said. haven't announced where we're going, to) go, but we're looking all over the worl4 Home Depot also detailed new mart) kets, such as Minneapolis, St.

Louis, Phik; adelphia and Pittsburgh, for 1996, ajtf said it would add as many as four more Expo stores next year. bl' After reviewing the Expo store, Salof mon Bros, analyst Jeffrey Feiner said he believes the upscale concept could grow to 200 locations. "This can be an explo-! sive growth vehicle going Feiner said. Home Depot's second CrossRoads store, its retail concept targeted at rutal 1 communities, is opening later this week in Waterloo, Iowa. ing also served as Virginia di rector of debt management un der Gov.

Doug Wilder. "John Textile majors Textile engineering Textile chemistry Material science Textileapparel management Technology design Other majors Chemical engineering Electrical engineering I Computer science Allied health services Accounting Foreign languages Sociology Psychology is politically savvy," said Shar ker division of VF Corp. There, she functions as a junior engineer trying her hand at a range of operational and managerial skills and using everything from calculus to human relations. "Our graduates must communicate well, whether it be putting commands to a computer or talking over a labor problem. The companies want them to be able to hit the ground running," Haddock said.

Because of those requirements, colleges are adding textile-related courses like computer engineering technology, international studies, construction, environmental development and industrial distribution. Today's textile-apparel majors sometimes even get to hone their capitalistic instincts. At Auburn University, Evelyn Bran-non teaches a course in entrepreneurship for those yearning to start their own companies someday. on Gay, the mayor's deputy chief of staff. "Of all the people the city looked at, he was head and shoulders above everybody," $40,268 $36,230 $33,813 $32309 $27,948 $24,026 $22,403 $21379 said William A.

Clement president of Dobbs Ram who was on the search commit tee. "He had done his homework. He knew the political problems with the job." Sources: American Textile Manufacturing Institute, North Carolina State University, National Association of Colleges and Employers Wenderski said Atlanta is in better financial shape than JOHN AMOSS Staff many other cities. Once he be gins his job Oct. 9, he is espe cially looking forward to work ing with business leaders.

Favorable inflation news sends Dow to record "One of Atlanta's strengths is that the business community has been a very active partici pant in the city," he said. "I OK Soda's aftermath Coca-Cola Co. is dismissing speculation that its decision to abandon OK Soda, targeted to Generation opens the door to create a new soft drink to compete with Pepsico's fast-growing Mountain Dew. Coca-Cola says OK Soda taught it a lot about reaching young consumers. Article, E3.

hope to continue that involve jCf OK. i rii Mimm I i I major market barometers. But the five-session streak of records by the technology-loaded Nasdaq composite index ended on reports of weak August semiconductor orders, which triggered selling. Article, E4. The Dow Jones industrial average surged 42.27 points td a record 4,747.21 Tuesday, buoyed by news that wholesale prices took an unexpected 0.1 percent tumble in August.

The Dow had been left out of the recent record-setting spree by other ment in every way I can." Maria Saporta's column, with assistance from Connie Mayberry, appears Tuesday through Saturday. II.

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