Dayton Daily News from Dayton, Ohio • 16

1 Business DAYTON DAILY NEWS Friday, Nov. 18, 1964 Page 24 Change in air Chrysler exec criticizes U.S. trade policy, deficit Iowa firm to buy WAVL WDAO By JLDITH L. SCHL LTZ Brtru Writer A Chrysler executive Thursday product fine has four-cylinder engines, but which Ford Motor Co. and General Motors Corp.

say they will be unable to meet. IN THE FACE of moderating oil price Chrysler's lacocca has called publicly for an increase in the federal sught rutrt an alarm about wave of uncertainty in the tax on gasoline just to keep from flocking again to gas By MIKE SQJMUTH Mam Writer Owners of WAVI Broadcasting which in turn owns WAVI-AM and WDAO-FM radio station in Dayton, have agreed to sell the business to toner Enterprises of Des Moines, Iowa, for million Crowl, president of the firm, whose family owns the largest block of shares in WAVI Broadcasting, said the sale is pending approval by the Federal Communications Commission, which probably will act within 60 days. "At this point, there will be no format changes or personnel changes," Crowl said Thursday WAVI has a talk show format WDAO plays popular music CROWL, A 70-year-old Dayton native, has been a principal owner for 32 years, since he bought the station then operating In Springfield under the name WWSO Crowl moved the station to Dayton in 1955 and renamed it WAVI, "which stands for aviation, he said. Crowl said he decided to sell his interest in the broadcarting opermuoo because he want to retire from the business. There are other things I'd like to do," he said.

It's been a realty fun business." WAVI was noted for several -firsts" in the Dayton area, including offering the first regular talk show in Dayton, becoming Dayton's first ail-talk local station, and having the first local traffic helicopter in the air. WDAO, BORN in September 1964. made its own history as America's first black-oriented FM radio station As part of the $4 million sale price. Crowl said he will receive five annual payments of 1 100.000 in exchange for his promise not to compete against toner Enterprises, which be described as the 35th largest broadcasting group in the nation The sale agreement was signed Tuesday, Crowl said Other principal shareholders of WAVI Broadcasting are Howard Young, former longtime chairman of the Montgomery County Republican Party, and 3radley Schaeffer, partner in the law Pickrel, Schaeffer Ebeling am "lw A U.K. Crowl auto industry's future and in the proc-eja reveaJed some of his own compa-ay's frustration at a lack of related national policies.

Bennett Bid well, one of Chrysler Chairman Lee Lacoeca'i four executive vice presidents, told a Dayton gathering at Stouffe r's Dayton Plaza Hotel hat the recent presidential election did nothing toward raising questions bout America's trade, deficit, and fis-cal politics, much less eliciting any answers. Bidwell made clear in an Interview prior to his address to a Dayton Sales and Marketing Executive Association scholarship fund-raiser that Chrysler executives aren't so much worried about competing with Japanese auto importers as It is about national uncertainty in regard to economics and total economic policy. CHRYSLER, with the help of federal loan guarantees mad at the beginning of this decade, pulled itself out of certain bankruptcy to return to record pVjVfits in 1983 and the first third of U4 It's third quartet profits of $262 million were up 161 percent over the same period in 1983 It has done so by turning itself into a US. small-car company, a four-cylinder car company, Bidwell said during the Interview. That strategy was In response to the 1979 oil embargo which ended the dflminance of the V-8 in the American market, the surge of Japanese imports a fed the setting of national fuel economy standards and import car qntas.

iroWELU WHO oversees all of Cferylser sales and marketing, was supposed to make an address about how Chrylser has dealt with the foreign competition. But be' changed his facus to why it can't compete more effectively because of Reagan Administration's positions or refusal to take I cars. "That would do two things," Bidwell said "It would take a wack at the federal deficit and protect our small car Bidwell said what happens to Chrysler in the near term if that market Isn't protected Is both good news and bad news The good news Is that larger V-8 engine cars generate the most profit for domestic automakers. Chrysler still makes some larger cars and in fact just has announced plans to delay conversion of its St. Louis rear-drive car lines into a second U.S.

mini-van production "The bad news is that Chrylser has the wrong product mix. We'd have too much capacity if the fuel economy thing stays a non-event." CONCEDING THE S. small-car market to the Japanese, because they can make small cars cheaper than companies, obviously would impact the America's smokestack region, including the local Chrylser plant, which employs 2.000 in production of car heaters and air conditioning units "If the cars come into the country by boat, then you can bet so will the heaters and the compressors," he said. In rebuttal to the free-trade argument that import quotas should be allowed to expire, Bidwell said in his prepared remarks, "Think about it this way. Honda is in Marysville, Ohio, and Nissan is in New Smyrna, because of quotas Toyota ia trying to come in on the cheap in Fremont, Calif." through a joint venture with GM which Chrysler is fighting in the courts.

"Can't we ever step back and take the long view like the Japanese and comprehend the fact that this particular gambit is Kltch.nAld SPECIALS Among. Radarange SPECIAL PURCHASE! SPECIAL PURCHASE! oest Chrysler worrit more about U.S. than Japan Bennett Bidwell action on things that affect Bidwell's Industry. U.S. deficits, especially trade deficits, continue to climb threatening another round of high interest rates, which spells recession to the auto industry.

There's serious talk of not asking the Japanese for another year of import quotas when the present ones expire next April. "There even efforts now to get rid of the fuel economy standards" that Chrysler can continue to meet in coming years because 85 percent of its No lower prices any jb (statu tk TBI irttj SA2SH A fMiar IWtsi Wvrarrf sr "iQQ irlJ329 30Q Has; VWw aUSBTTriN Sail ITS-. SptadJ VUV where on KitchenAid dishwashers, compactors, disposals and hot water dispensers lor this 1 weak-end event. fenn-MaVaHa-BK-sVa-BI tV-T Heavy Duty Long Lasting Refrigerators, Ranges Washers Dryers Washers, Dryers, ammmmn, nances This week-end onryl ncomfortably stow' Fed reinforces 'sluggish' diagnosis NO PAYMENTS DUE UNTIL FEBRUARY-SSO DOWN DELIVERS! EASY PAYMENTS AVAILABLE OR TAKE 90 DAYS SAME AS CASH I I'll I l-Tllll III llllll II III1. Ml n-BJsTfJ-BJ-BJM UH II 1 caused parts shortages in this country and thus cut Into U.S.

production. Also, coal production fell 25 percent during the month as stockpiles that had been built up in anticipation of a strike were used, he said. The production index would have posted a gain of between 0.3 percent and 0.4 percent without the auto strike and the drop in coal mining, Ortner added. AMERICANS TOOK on $4.3 billion more In installment debt than they paid off in September, the Federal Reserve said. It was the slowest rise in consumer debt in a year and analysts said it showed consumers were scaling back on purchases of big-ticket items such as cars and appliances.

The September drop in business sales was the third straight monthly decline the first time that has happened since mid-1982 during the recession. The September decline came as lower sales by manufacturers and wholesalers offset higher retail sales The moderate gain in business inventories was about half the rate they advanced in the first part of the year. i The Federal Reserve, reinforcing suggestions that the economy is sluggish, says Industrial production was unchanged in October and that consumers acquired the lowest amount of new credit in a year in September. In addition, business sales fell 0.5 percent In September while business inventories expanded by 0.6 percent, the Commerce Department said Thursday. "There Is no doubt that we have entered an uncomfortably slow period of growth a period that won't allow us tp make any inroads on the unemployment rate," said Thomas Thomson, chief economist at Crocker National Bank in San Francisco.

OUTPUT AT THE nation's factories, mines and utilities had declined 0.5 percent in September, the first setback since November 1982, the low point of the recession. Many economists had expected the September decline to be erased by an October advance. But Robert Ortner, chief economist at the Commerce Department, said the gain didn't materialize because of a strike against General Motors Corp. plants in Canada that GRAND OPENING OF our Leather SHOp The Ultimate in Quality SAVE 40 ON GRAND 0PENIN6 SPECIALS TOP RATES THE MONEY PLACET 1 YEAR CERTIFICATE 6 MONTH CERTIFICATE 31 DAY CERTIFICATE $20,000 MINIMUM $1,000 MINIMUM EARN $1,000 MINIMUM EARN 11.20 11.50 10.00 0M ON 10.74 cubttet to chano daUr InMnst 10.75 Our new Leather Shop brings you the widest choices possible In colors and styles in leather furniture, yet makes them remarkably affordable. See our many elegant leather selections TradWonal, Contemporary and Transnational to grace your home.

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