Dayton Daily News from Dayton, Ohio • 14

48 WEDNESDAY, AUGUST 26, 1992 MARKETS Business NASDAQ 554.22 411.61 0.89) WILSHIRE 3,952.592 DOW 3,232.22 4.05) NYSE 226.47 0.13) AMEX 379.52 FULL STOCK REPORT, PAGE SB IN BRIEF GM's salaried workers must pay Consumer confidence Seasonally adjusted index of consumer expectations about Details of health care to come economy tuture 1985-100 140 What: For the first time, GM salaried and retired employees will be expected to pay their health care premiums. At least 3,000 salaried workers affected. Why: GM wants to reduce its $3.4 billion annual tab for health care. Significance: More companies are asking employees and retirees to pick up at least a portion of health care costs. GM's move follows similar efforts by Navistar, which the company's unions have challenged in federal court.

SOURCE: General Motors Corp. 120 Index at 58.0 20- to say how much the company would save or how much workers and retirees would have to pay. He said information on amounts and' deductions would be released during the next couple of weeks. The move is expected to affect a total of 440,000 active, retired salary employees, surviving spouses and dependents, Tan-, ner said. GM told its 190,000 current or former salaried employees through a memo Monday.

The memo said GM's health care costs have jumped 12 percent annually since 1965. Tanner said the average GM worker is in his early to mid-50s, which increases the company's health costs relative to other manufacturers. In the past year, Tanner said the has held workshops with employees and retiree focus groups about ways to reduce health-care costs. GM, which lost $4.5 billion on its North American operations in 1991, is expected to close 21 plants and trim 80,000 workers the United States 5,500 workers and 3,000 retirees locally recently announced a plan to reduce its health-care retirees' benefits to save the truck maker $90 million. The move prompted autoworkers to threaten a war in upcoming contract negotiations and prompted a coalition of labor unions to file a class-action lawsuit in Dayton federal court aimed at halting the reduction.

Labor experts say such cuts are becoming more common. Retirement counselors such as Michael Markowitz, director of New York's Institute of Retired Professionals, have had an influx of inquiries about budgeting from retirees. "Retirees should have some discretionary funds to deal with issues related to health care and anticipate in the next coming years trends of corporations increasing co-payments and costs of vision and dental care," Markowitz said. A survey of 1,380 employers by a New York corporate benefits adviser found By Keith L. Alexander DAYTON DAILY NEWS Salaried employees and retirees of the General Motors Corp.

and their survivors will be expected to shoulder an unspecified share of the cost of their health coverage for the first time in the automaker's history. GM's decision affects at least 3,000 salaried employees in the Dayton region; the company didn't immediately have breakouts on the number of its salaried retirees and survivors in the area. GM's move aimed at paring the company's $3.4 billion annual tab for health care is part of efforts to restore profitability to its North American operations. The automaker is not alone. More companies, especially old-line manufacturers with many retirees, are struggling to find ways to reduce the cost of medical benefits.

Chicago-based Navistar International which employs 40,000 workers in '90 '91 '92 SOURCE: The Conference Board two-thirds of them have changed their retiree medical plans in the past two years or intended to make changes by 1993. Most cited costs and liability. The survey by Foster Higgins also found employers mostly commonly are raising retiree contributions, increasing cost-sharing provisions and tightening eligibility. GM spokesman Mark Tanner declined the United States and Canada by 1995. Knight-Ridder Tribune Consumers still wary American consumer confidence in the economy eroded further this month to the weakest level since March.

Results from a Conference Board survey showed consumers are more negative about their view of the current situation and expectations for the immediate future. Research chief aims McCauley propeller takes off high at UD Institute director plans $80 million volume by '97 By Raju Nariserti DAYTON DAILY NEWS The new research czar at the University of Dayton is an ambitious man. Joseph E. Rowe, who takes over in September as director of the UD Research Institute, plans to double its $40 million-a-year research volume within five years. "I think we should set goals to stretch ourselves and try to achieve them," said the former vice presi dent and chief scientist for PPG Industries a glass and coat ings concern based in fij 3.

iti If a I Pittsburgh. Rowe, who was se lected from a national pool of 175 candidates, comes to UD on a five-year renewable contract. A native of De ITS Company hopes its sales will soar By Timothy R. Gaff ney DAYTON DAILY NEWS McCauley Accessory Division managers hope a new propeller will help the local operation shed its image as a supplier for small, general-aviation airplanes. They also hope new design and manufacturing methods developed for the lightweight, low-noise propeller will give McCauley an edge in markets such as Europe, where noise rules have limited operations of propeller-driven airplanes in many places.

The black aluminum propeller, equipped with five scimitar-shaped blades, was developed for the 29-seat Jetstream 41, a new, twin-engine regional airliner from British Aerospace. The airplane's Garrett turboprop engines are the biggest to use McCauley propellers. McCauley plans to produce propellers for 18 Jetstream 41s by the end of the year, marketing manager Pete Werwick said. British Aerospace plans to increase production to 35 aircraft yearly, possibly increasing to 60 by 1994, Wer-wich said. The order "marks our further entry into the regional (airliner) market," Werwick said.

He projected sales from the propeller will approach $10 millidn over five years, increasing current total sales by about 10 percent. The order is especially significant for McCauley because it demonstrates the division's new, lightweight aluminum propellers can compete with those made of composites by other manufacturers such as Piqua-based Hartzell Propeller Werwick said. McCauley has made aluminum propellers for decades as a division of Cessna Aircraft which is now owned by Textron Inc. The propeller is also the forerunner oi a new family of propellers McCauley has been developing for smaller aircraft, chief engineer Harry Starnes said. Known as QZP, for Quiet Zone Propeller, the new props are aimed at meeting increasingly strict aircraft noise limits.

"It's going to open new markets for us because noise is a major concern," McCauley general manager William Buckles said Monday. Both noise limits and the larger regional airliner offer McCauley potential sales in a slack industry. Sales of general aviation aircraft which includes private, business-class and small commuter-class aircraft have been dwindling for years. General aviation aircraft shipments in the first half of this year totaled 389, down 24 percent from the same period in 1991, according to the General Aviation Manufacturers Association. But aircraft manufacturers have found demand for regional aircraft in the 30- to 50-seat class.

"It's the only growing market," Werwick said. Noise limits offer another source of revenue for the propulsion segment of the aircraft industry. Jet operators have spent millions to muffle or re-engine ED ROBERTSDAYTON DAILY NEWS Nehemiah Bolds making final assembly of propeller at McCauley WORLD Dollar continues fall The dollar continued its precipitous decline against the German mark Tuesday but ended mixed against some other leading currencies in hectic trading. The dollar fell as low as 1.3945 marks before making a slight recovery, but the U.S. currency still closed at a record low.

In New York trading, the dollar settled at 1.4015 marks, below Monday's record low close of 1.4020 marks. In European trading, the dollar settled at 1.4020 marks. In Tokyo, the dollar closed at 124.85 against the Japanese yen, down 0.48 yen from Monday's close. NATION Stocks still weak The stock market was generally weak Wednesday. Declining issues outnumbered advancing ones about 10 to 7 on the New York Stock Exchange.

Big Board volume totaled 201.65 million shares as of 4 p.m., against 165.13 million in the previous session. The 20 transportation stocks closed at 1216.47, down 1.34; the 15 utilities closed at 217.76, down 0.76; and the 65 stocks closed at 1127.41, down 0.21. GM to sell transmission unit General Motors Corp. said Tuesday it has agreed to sell its Allison Transmission subsidiary to a German company. The division in Indianapolis, which makes transmissions for heavy-duty trucks, will be sold to ZF of Germany.

The sale is subject to the approval of U.S. and German governments. Settlement in case Charles Keating son-in-law and three other associates in Lincoln Savings and Loan have agreed to pay a record restitution of $75 million to settle civil charges, the government said. House sales jump Spurred by falling mortgage rates, sales of previously owned homes jumped 3.9 percent in July for the first advance in four months, a real estate trade group said. The National Association of Realtors said Tuesday that resales of single-family homes totaled 3.48 million at a seasonally adjusted annual rate in Jury, when mortgage rates fell to their lowest level in 19 years.

TWA pilots OK buy-out Trans World Airlines' pilots said they had agreed to a buy-out by workers and creditors, taking TWA closer to finishing a reorganization that would bring it out of bankruptcy court. Although TWA had announced Monday all its unions had agreed to the plan, the pilots had said they were still negotiating until Tuesday's announcement. Car, truck sates up Sales of domestically built cars and trucks rose in mid-August despite reports of declining consumer confidence, according to new figures. Car and light-truck sales rose 1 1.8 percent for the 10 major domestic automakers in the Aug. 1 1-20 period.

Truck sales, which have been strong for months, continued to dominate the automakers' business. Credit card scam suit Visa U.S.A. and Mastercard are suing four telemarketing companies in what the credit-card issuers are calling the largest international credit -card fraud yet uncovered. The lawsuit, unsealed Tuesday in U.S. District Court in Los Angeles, accuses the telemarketers of laundering S3 million in phony credit-card charges through foreign banks troit, he holds four Rowe degrees from the University of Michigan.

He also taught at the university for 19 years. He and his wife, Dr. Anne Rowe, have two children. Rowe plans to step up commercially sponsored projects at the institute. In 1991, 84 percent of its projects were being sponsored by industries, but government projects accounted for 86 percent of funding.

The institute is the largest university contractor with Wright-Patterson Air Force Base, performing about $27 million worth of research annually for the Air Force. The institute supports about 900 students and faculty, of which 475 are full-time researchers and support staff. Rowe, who also has been named associate vice president for research at UD, plans to teach a technology-management course once a year. "One of the things that attracted me to the job is the integration of the Research Institute within the university," he said. "One of the challenges will be to maintain that closeness." Senator working behind scene in BCCI loan deal, New York report says NEW YORK (AP) Sen.

Orrin G. Hatch was much more involved in defending the Bank of Credit and Commerce International than previously believed, according to a published report. The powerful Utah Republican once stood up on the Senate floor to staunchly defend BCCI's plea agreement with the Justice Department in a money-laundering indictment in Tampa, Fla. Hatch also has acknowledged he asked the bank to lend money to a Houston businessman. But The New York Times reported in today's editions that Hatch was working behind the scenes on behalf of the bank when he pressed BCCI to loan $10 million to the close business associate.

Times, citing documents and interviews with bank lawyers, said Hatch and an aide were essential parts of BCCI's efforts to escape Senate scrutiny and avoid bad publicity after the bank pleaded guilty in 1989 to the federal charges of drug money laundering. BCCI is at the center of a worldwide scandal involving alleged drug money laundering arms trafficking and support of terrorists. Significance: Propeller could help McCauley shed its image as a supplier for small, gemal-aviation airplanes. Also, it should ve the company an edge in overseas markets where noise rules limit operations of propeller -driven airplanes. What: McCauley is making "low noise" five-pointed propellers.

I Outfit: 18 Bntish Aerospace new 29-seat Jetstream 41s by the end of the year; increase production to 35 aircraft yearly possibly to 60 by 1994. ministration certificates authorizing the company to produce the propeller for the Jetstream 41 McCauley plans a formal industry announcement of the new propeller at the Aircraft Owners and Pilots Association's annual convention in Las Vegas in October, Werwick said. their aircraft to meet increasingly strict U.S. noise limits. In Europe, even stricter noise limits are affecting operators of propeller-driven aircraft.

McCauley put the CI 100 propeller on display Monday outside its Dayton International Airport plant in a brief ceremony to accept Federal Aviation Ad Union workers at ratify 3-year national, local contracts WASHINGTON (AP) Members of the Communications Workers of America have overwheLmingly ratified three-year contracts with The national and local agreements were approved by more than 88 percent of those voting, CWA Vice President Jim Ir vine said Monday. The union represents 100,000 workers. Another 27,000 workers are represented by the International Brotherhood of Electronic Workers, which also ratified the contracts. The unions have said the settlements will boost base wages for most workers by 12.3 percent over three years, provide $3,330 in stock to each employee, raise pension benefits by 13 percent and expand worker training and family-care benefits. The pacts are retroactive to May 30, when the previous contracts expired..