Dayton Daily News from Dayton, Ohio • 20

48 FRIDAY, OCTOBER 2, 1992 1BSB MARKETS Tusiiie DOWJONES 30 industrials 3,254.37 -P- NASDAQ 578.33(4.94) -9- 20 transportation 1,260.45 416.29 15 utilities 219.33 65 stocks 1,144.85 WILSHIRE 4,010.552 IN BRIEF sellieg mobile comraeter Pen-like stylus enters data JtJ NCR Ij i 1 1 11 1 i I 1 BBBIMMMiaiMllllllBiaUHMI x-1 1 ByRajuNarisettl DAYTON DAILY NEWS NCR uncapped its 3130 NotePad computer this week, joining a growing number of computer makers chasing an elusive market in pen-based computers. The 3130 is an improvement over NCR's first model the 3125 a sleek machine that received design accolades but was panned by critics for its major operational flaws, such as poor display and fragility. "Our customers have been telling us they want a screen easier to read in low light, substantially more memory and improved durability," said George Simmons, assistant vice president at NCR, a unit of American Telephone Telegraph Co. In pen-based computing, users enter data directly on the computer screen, using a pen-shaped electronic stylus. This gives the computer a great deal of mobility a feature that computer makers and industry analysts predict will translate into a billion dollar market.

The improvements in display screens and the increased hard-disk capacity for the 3130 have, however, come at a cost. The weight of the computer went up from 3.9 pounds to 4.7 pounds even as the maximum battery life dropped from 4.5 hours to 3.5 hours. The minimum battery life is expected to be around two hours. "In some ways it is a step backward," said Nicholas M. Baran, editor of Pen-Based Computing, a magazine that tracks trends in pen computers.

"What is really needed in the pen market is lighter weight and longer battery life." At 4.7 pounds, however, the 3130 is among the lightest models available. Grid Systems GridPad, for instance, weighs 5.4 pounds. NCR's clipboard sized model, priced at $4,000, will face stiff competition from several computers, including IBM's ThinkPad and Grid Systems' GridPadSL and Samsung's Penmaster. IBM is also expected to announce a new line of mobile computers as early as next week. NCR is targeting the 3130 at mobile salespeople, such as insurance and pharmaceutical professionals, health care professionals and real estate appraisers.

Baran said he also expects notepad ASSOCIATED PRESS NCR Digital CEO NCR's NotePad computer faces stiff competition During a news conference Thursday in Maynard, Robert Palmer, the newly appointed president and CEO of Digital Equipment said he will accelerate job cuts at the struggling com-, puter company. He also predicted sweeping organizational changes. Digital stock dropped 2Va to 36. computers to be challenged by a new generation of smaller and cheaper hand-held computers, such as Apple's Newton, which are expected to be launched early next year. "Some of the technology from the palm pads, such as using memory cards instead WORLD Dollar climbs 1 'In Tokyo, the dollar rose, closing at I 120.32 against the Japanese yen from a record low 1 19.25 yen at Wednesday's close.

Elsewhere Thursday, the dollar closed higher against major currencies. NATION Stock market falls Stock prices pulled back Thursday in a wary response to the latest news on i i of heavier hard disks, will probably have to spill over to the notepads if they are to succeed," he said. Notepads also have foundered because of the poor handwriting recognition capa-" bilities of most models. Software is slow and prone to errors in translating hand-; writing. Provident airs plans for office Regional center to be downtown ByJimBohman DAYTON DAILY NEWS Provident Bancorp announced Thursday it will open a Dayton regional headquarters for the Provident Bank in downtown Dayton in December.

The head office will be in the lobby of the Mead Tower at Second and Main streets. The space formerly was occupied by Society Bank which relocated on Main Street. The office will be the administrative center for Provident 's 11 banking offices in the Dayton area, including Spring-field and Sidney. The office will have a staff of about 20 employees, said Allen Davis, president and chief executive of the Cincinnati-based bank-holding company. Services to be offered include commercial banking, mortgage lending, corporate services and securities trading.

John Mirlisena has been named vice president in charge of the Dayton regional headquarters. "Downtown is the crossroads and center of Dayton," Davis said. Being downtown will give Provident a central point for serving all areas. "It also is where most of the lawyers, accountants and professional people are located. We transact a lot of business with them." Davis said Provident gained a large volume of business last year when it acquired Hunter Savings.

The bank's Dayton-area deposits total $300 million. Cincinnati financier Carl Lindner Is a major investor in Provident Bancorp. Davis said Provident plans to boost banking competition in Dayton. "We already compete with all the (major) banks, and we've managed to grow our loan portfolio at a compounded annual rate of nearly 22 percent over the last five years. We'd like to grow faster than that In Dayton." Renovation of the Mead Tower office has begun.

Provident Bancorp has $3.7 billion in assets. Provident Bank has 60 offices. Including 46 in greater Cincinnati, two In Cleveland and one in Columbus. Provident Bank of Kentucky has six offices. Provident shares are traded on the over-the-counter market Job-market conditions.

The Dow Jones average of 30 indus-1 trials dropped 17.29 points to 3,254.37. Declining issues outnumbered ad-, vances by more than 4 to 3 on the New York Stock Exchange. Big Board vol-f ume came to an estimated 203.74 mil-, lion shares as of 4 p.m. EDT, up from 184.28 million in the previous session. Opposition to bid The chief executives of four major U.S.

airlines said that British Airways' bid to buy an interest in USAir threatens U.S. jobs and puts the U.S. airline in-; dustry at risk. The heads of United, American and Delta airlines and the cargo airline, Fed- eral Express, met in Washington Thursday and called on the Transporta-i. tion Department to open its delibera- tions on the proposal to the public.

I They claimed British Airways would gain effective control of USAir. 'METROSTATE Bank buy planned I Mid Am a bank holding company based in Bowling Green, said it reached a definitive agreement to acquire Co-i lonial Federal Savings Bank in Bellefontaine. Mid Am hopes to close the transacts tion in the first quarter of 1993, pending regulatory approval and approval by Colonial's shareholders. Colonial Feder al is an $82 million federally chartered thrift with two offices in Logan County. Mid Am is paving $55 per Colonial common share payable in Mid Am common stock.

TV CREZNLEESDAYTON DAILY NEWS In high places Conan McFarland glazes the glass roof of the new Shades of Jade restaurant on Co). Glenn Highway. Col Glenn Highway at 1-675 has seen a boom in restaurants, thanks to the growing number of companies that have moved into the Miller Valentine Group's Wnght Executive Center. The 450,000 square-foot office building is home to companies such as Martin Marietta and Grumman. Shades of Jade, a Chinese restaurant, will join about 10 other restaurants and fast-food outlets that cater to the Executive Center and Wright State University.

Etyria ex-workers sue GM over buy-outs 'PNC dividend The board of directors of PNC Financial Corp. Thursday approved an increase in the quarterly cash dividend and a two-for-one split of the common stock. The dividend has been increased 7 percent to 57 cents per share on a pre-split basis. The increased dividend is payable Oct 24, 1992. to shareholders of record Oct 13, 1992.

The additional shares resulting from the stock split will be distributed Nov. 18, 1992, to holders of record on Oct. 22, 1992. PNC Financial Corp, headquartered in Pittsburgh, owns Cincinnati-based Central Trust which has offices in the Miami Valley. 3 CLEVELAND (AP) More than 100 former General Motors Corp.

workers have sued the automaker, saying GM misrepresented job security prospects to induce workers to accept buy-outs. The lawsuit was filed Wednesday in U.S. District Court by 1 18 former employees of the company's now-closed Elyna Fisher Guide plant. The lawsuit said GM misled workers about the status of two Income security programs and about their own employ ment prospects in an effort to encourage them to take earty buy-outs ranging from $30,000 to $60,000. The workers allege that as a result of leaving the company 1988, they suffered the loss of wages, additional pension credits, medical Insurance, life insurance, paid vacations and holidays.

The workers are collectively seeking $10 million In damages. Each worker also is seeking at least $150,000 in damages and $100 for each day he or she was not pro vided with summaries or the two programs. A GM spokesman said the company does not comment on pending legal actions. There was no answer carry Thursday at GM offices in Michigan In another attempt to obtain GM's comments. GM misrepresented the two programs "in an effort to induce these people to terminate their employment for a very small sum of money," said Richard Ross, a lawyer representing the workers.

Phar-Mor allowed to close up to 63 stores Amcast makes deal Amcast Industrial Corp. said Thursday it has entered into a new $40 million, five-year credit agreement with a banking group. The company said the agreement arid its recent common stock offering gives Amcast "a solid financial base for growth." Members of the banking group are: Star Bank. Bank One of Dayton, The First National Bank of Chicago and Society National Bank. Ford adding Jobs Ford Motor Co.

said ft wm add 500 Jobs to the Eyria factory that Jointly produces mini vans with Nissan. The jobs come in addition to the 1.3 DO positions being created by a miion expansion of the Avon Lake plant They wJl be added by January, company officials said. The hiring is spurred by increased demand for the Mercury VJ-lam and Nissan Quest miaivans bu3 at the plant mi A2xt N. CoveHi. Ford 's regional manager of government afiairs.

Elder-Beerman opens 50th store By Jim Bohman DAYTON DA.VNCWS Elder-Beerman Stores Corp. today mill open a new department store inside the Upper Valley Mall, Springfield. It will be the Dayton-based chain's 50th department store and first venture into the Springfield market Dder-Beerman wi2 also be one of five anchor stores in the new Mall at Fairfield Commons under construction in Beavercreek. The department store's charge card holders can shop at the Sprir.cfie'd store today. The general public can view the 71.000 square-foot store and its ItaLaa marble floors, track lighting and decorator touches on Saturday starting at 10 am Located in a fanner Wao'worth site, Kder-Beenran's wl2 include clothing for women, children and men, phis shoes.

Enens, small appliances, housewares, crystal and drinenrare. 2,000 workers will be affected in shutdowns YOUNGSTOWN CAP) Phar-Mot Inc. received a federal bankruptcy Judge's approval Thursday to close up to C3 stores. VS. Bankruptcy Judge WZan Bodoh aSowed the deep-discount drugstore chain to dose stores in 14 states, averting about 2.200 employees.

Phar-Mor sought approval to take the action a-Oer compki-tof a store by -store proSiabily anasis. Phar-Mor sought bankruptcy court protectioa in mid-August, two weeks after announcing it had uncov ered an alleged $250 million fraud and embezzlement scheme. The company accused co-founder and then-President Michael Monus and chief financial officer Patrick Finn of masterminding the alleged scheme. Neither man has commented publicly on the iterations. Phar-Mor had said last month that It planned to close 35 stores and would dose as many as 27 more unless more Zavcrabk leases could be negotiated.

The company said its deosions were based on proSlabffity, store age, competitive market position and geo graphic location, as well as the company's estimate of the chances for Improving a store's performance. The actions had to be approved by the court Bodoh also extended the interim arrangement under which Phar-Mor has been using its cash colt-eral to buy the merchandise it seZs. Phar-Mor had arranged with its secured lenders to use the cash on an emergency basis whi a longer-term deal is worked out The initial agreement has been extended several times. Bodoh on Thursday extended the deal through Oct 22..