Elko Daily Free Press from Elko, Nevada • 7

Saturday, May 1, 1993 ELKO DAILY FREE PRESS, Elko, Nevada 7 Business Thousands of parents brought daughters to wort ft If I I II a ter that's the best part," she said. The enthusiasm of Caitlin, 10, was more measured. "The fun part about it is cooking the boring part is cleaning up," she said. The nation's first daughter, 13-year-old Chelsea Clinton, decided not to take part, her father said. "We discussed it this morning and she said, 'You know, it's easier for me," President Clinton said.

"You work where you live. I know what it's She said, i missed a lot of school last month. So I'm going to Chelsea missed at least a week of school when her grandfather, Hugh Rodham, died recently. Studies have shown that girls have lower self-esteem than boys. Advertising and society's idea of how girls should look and behave are blamed for focusing their attention on appearance and a quiet demeanor rather than their abilities.

The Ms. Foundation raised roughly $400,000 from corporate and other sponsors to promote the event. Businesses and agencies set up activities for the day. The foundation helped match 2,000 girls from schools in Manhattan with 77 companies in New York. Businesses in Santa Fe, N.M., Tulsa, Spokane, and Philadelphia also set up programs with local schools, Merlino said.

At the Johnson Space Center, ab NEW YORK (AP) From the Johnson Space Center in Houston to Noma's Cafe in Pensacola, thousands of parents nationwide took their daughters to work this week. The Ms. Foundation, organizer of the national "Take Our Daughters to Work" campaign, had no immediate estimate of turnout but said it expected 500,000 girls between the ages of 9 and 15 to accompany an adult to their place of work. The foundation is seeking to draw attention to the low self-esteem of teen age girls and introduce girls to opportunities they might not otherwise consider. "That's where it starts that you see your parents working." said Nevenka Schumaker, a Ford Motor Company designer in Dearborn, who took her 16-year-old daughter, Lidia Spiroff, to work.

"You might not choose their profession, but you can see there are choices," she said. In Pensacola, Norma Murray brought her two daughters to the restaurant she owns, Norma's Cafe. "I think it's important for them to see what I do when I leave home, to see that things we're fortunate to have at home happen because mom and dad work hard," she said. "And fortunately we also enjoy it" Daughter Meghan, 13, said she enjoyed all aspects of the restaurant business. "I'm getting to run the cash regis- "i fJr I I Dan Horn, director of operations for control room at CNN in Atlanta.

Turner Interactive, shared some New IBM chairman gets earful from disgruntled stockholders out 50 daughters, other relatives or friends of employees were scheduled to meet astronaut Kathy Thornton, learn about the different aspects of space travel and visit labs and other facilities. "We hope these girls will be challenged by what they see and will explore ideas of new careers," said Pam Adams, manager of the center's women's program. "It's an investment in our future." At least one parent Terence "Tom" Henricks couldn't participate in the event with his eldest daughter, 10-year-old Katherine Ann. That's because he is orbiting Earth as pilot of space shuttle Columbia In a message beamed down from the shuttle, he encouraged girls seeking a career in aeronautics to bone up on math and science. Companies randomly polled this week said they were not concerned that the activities will affect productivity.

"Down the line it helps IBM," IBM spokesman Jim Keller said. The computer company invited feminist leader Gloria Steinem to address girls visiting headquarters in Armonk. Other participants were expected to include Chase Manhattan Bank, ABC News, the U.S. Department of Health and Human Services, The Harbor Master of the Port of New Orleans, the Body Shop and Giant Eagle Supermarkets in Youngstown, Oh. search for a successor to now-maligned former Chairman John F.

Akers. In a frank assessment, Gerstner said slow demand and poor economies had reshaped the computer industry, but he defended IBM's technological and market power. To shareholders' approval, Gerstner didn't try to minimize IBM's problems. "IBM has changed, but most people would say not fast enough," Gerstner said. "This slowness and failure to act quickly is really the root cause of IBM's problems." Gerstner listed four priorities for 1993: completing major staff reductions, defining what businesses IBM will pursue, improving customer relations and decentralizing.

He said he hadn't been working long enough to be more specific. "I dont have answers for you yet and we can't expect quick fixes," Gerstner said. But he promised: "I can tell you the steps we will take will not be pussyfooting but bold strides." Wall Street seemed to welcome Gerstner's comment IBM stock rose 62': cents to a share on the New York Stock Exchange. That's still well off last summer's peak of $100 a share. Before the meeting, IBM's board declared a 54 cents-per share quarterly dividend.

In January, IBM cut the dividend for the first time, from $1.21 per share. Casino winnings dip 6.9 CARSON CITY (AP) Slot machines barely held their own and table and card games tended to be losers for casinos during February, a state report showed Thursday. The Gaming Control Board reported an overall 6.9 percent decline for the clubs compared with the same month a year earlier. Slots managed to post a 12 percent gain but table and card games overall were down 20 percent. Table game winnings totaled $140.1 million in February and slot revenues totaled $289 million.

Card rooms produced $5.7 million, for a total of $435 million for the 1 month. The combined 6.9 percent decline for the month compares with an average 3.5 percent increase for a 12-month period en its work force or more than 100,000 jobs since 1987, and lost significant market share amid growing competition. The company has sought to reverse itself through restructurings that have given IBM business units more freedom. Gerstner, the 51-year-old former RJR Nabisco chairman, took over on April 1 after a closely watched IBM earnings Analysts expect another loss when IBM announces first-quarter earnings. IBM's recent quarterly performance: in millions 1991 i iv 1992 in iv $595 $111 $177 billion billion billion billion Source.

International Business Machines Corp. AP TAMPA, Fla. (AP) Angry IBM shareholders unleashed a torrent of pent up frustration at new Chairman Louis V. G-erstner who promised to revive the computer maker but asked for patience. In just his 18th workday at IBM, Gerstner tried to use the annual meeting earlier this week to focus on a broad outline of goals.

Instead, he heard impassioned calls by a dozen stockholders for the ouster of the board of directors that were greeted with loud applause. "If I were a director I would be embarrassed to even show up here and have my name on a list to be elected," said Dr. Gilbert Jannelli of Clearwater. "How can you work with that group of people when their attitudes, their trusted decisions caused this company's demise?" About 2,300 shareholders, many of them Florida retirees and longtime company employees, attended an unusually contentious meeting that reflected just how far International Business Machines Corporation has fallen. The meeting capped a remarkable four months at 79-year-old IBM, whose founder's credo "Think" set a standard' of excellence for corporate America.

In addition to hiring Gerstner as its first outsider chair man, IBM laid off workers for the first time and lost $285 million from January through March. IBM has lost more than $7 billion in the past two years, cut a quarter of Gaming news summary: MGM Grand loses $2.7 million (Atsocitttd Preu photo) time with his daughter, Ariel, in a total slot winnings in February. Compared with the same month a year earlier, the quarter slots were up 3.6 percent. Dollar slots ranked second, winning $92.8 million for a slight decline of 0.2 percent over the same month a year earlier. Nickel slots won $36 million, for a decline of 1 percent.

The report shows a total of 134,427 slot machines of all types in major clubs around the state. The total count on all types of table games during the month was 4,557. The report includes taxable gaming revenue, after adjustments, won at clubs and slot arcades holding nonrestricted licenses. That doesn't include hundreds of small slot operations scattered around the state. customers and that's the definition of a growth industry." said Promus President Philip Satre.

Promus has said it would like to open a casino in Memphis, which sits beside the Mississippi River, but must wait to see how the state Legislature deals with moves to legalize gambling in Tennessee. Mirage earnings LAS VEGAS (AP) Mirage Resorts which operates three Nevada hotel-casinos, is reporting lower net income for the quarter ending March 31 compared to the same quarter a year ago. The casino company blamed a lower winning percentage from gamblers and a drop in baccarat business for the slump in earnings for the quarter. Mirage Resorts reported net income of $9.6 million on revenues of $214.8 million for the quarter, compared to net income of $17.3 million on revenue of $216.2 million for the same period in 1992. Mirage Resorts operates its flagship Mirage hotel-casino on the l-as Vegas Strip, the Golden Nugget hotel-casino in downtown Las Vegas and the Golden Nugget-Laughlin in the Colorado River town of Laughlin.

Towers to go LAS VEGAS (AP) The twin towers of the defunct Dunes Hotel will come down Oct 27, at the same time a cannon shot is fired to mark the opening of the Treasure Island resort just down the Las Vegas Strip. Mirage Resorts Inc. officials say they plan to raze the Dunes complex and open the company's Treasure Island with a simultaneous cannon shot and implosions. "We'll make sure we miss Caesars Palace," Mirage spokesman Alan Feldman said of the resort which stands between the two properties. ding in February.

The GCB report shows that blackjack generated $78.7 million of the table game winnings in February. That's up four percent compared with the same month a year ago. Craps produced $28.9 million, down one percent in the same period. Baccarat accounted for $12.8 million of the table game winnings in February, down 64 percent; mini baccarat produced $3.6 million for a 63 percent gain; roulette produced $10 million, down 13.5 percent; and keno won $9.7 million for an 11 percent decline. Sports pools lost $18.6 million; and race books won $5.8 million.

The GCB's analysis of slot action shows quarter slots accounted for $139.3 million of the The company's registration statement with the Securities and Exchange Commission calls for a public offering of 15.7 million shares of common stock at $14 to $16 a share. It also plans to sell $100 million in notes that will come due in 2003. Majority owner Frank Fertitta Jr. started the company 15 years ago with a small bingo hall that became the Palace Station Hotel Casino, an operation that has flourished while catering to the local population. Under the plan to go public, the Fertitta family will still maintain control of the hotel-casino along with a company that operates slot machines in Louisiana and Southern Nevada.

Money generated from the stock offering would finance Boulder Station, a version of Palace Station on Boulder Highway. Riverboat opens MEMPHIS, Tenn. (AP) Harrah's will weigh anchor this week on its first riverboat casino in a venture that's expected to lead to a fleet of floating resorts throughout the Midwest. Promus Companies Harrah's Memphisbased corporate parent will launch its riverboat operation tomorrow in Joliet 111. Harrah's, a gaming pioneer in Nevada, already has land-based gambling in Atlantic City, and at Lake Tahoe and in Las Vegas, Laughlin and Reno.

It plans to open seven more floating casinos in Mississippi, Missouri, Louisiana and Illinois. Those states, along with Iowa, allow riverboat gambling, and promoters say that opens their business to thousands of people who might not travel to New Jersey or Nevada to gamble. "We have the ability to create new I LAS VEGAS (AP) MGM Grand which is building a $1 billion hotel and theme park on the Las Vegas Strip, said Wednesday it lost $2.7 million for the quarter ending March 31. The company reported it had revenues only from its scaled-down charter airline service and from interest on the temporary investment of construction funds for the MGM Grand Hotel and Theme Park project Revenues at MGM Grand Air were down nearly $10 million, to $4.9 million, from a year ago, reflecting the company's decision to discontinue its scheduled service in December 1991. The company now uses its aircraft for charters.

The loss for the quarter compared to net income of $44,000 for the first quarter of 1992. The Las Vegas-based company is constructing the city's bigest resort, one that will include 5,000 rooms, a 170,000 square foot casino, a sports arena and a 33-acre theme park with 12 major attractions. MGM Grand said its costs for the project remain within budget and that the target date for completion has been moved forward about six weeks to Feb. 15, 1994. Redd gels OK LAS VEGAS (AP) The Nevada Gaming Commission has approved longtime Nevada gaming figure William "Sy" Redd, 81.

to run the Pep-permill hotel-casino in Mesquite and to start a new slot machine company. Redd is starting up International Technical Systems Inc. in Las Vegas and will compete against rival International Game Technology, a burgeoning slot company that he founded years ago but left in 1986. Palace can sell LAS VEGAS (AP) Gaming regulators have given owners of the Palace Station hotel-casino preliminary approval to sell their gaming company on Wall Street The state Gaming Control Board unanimously approved Station Casinos plan to raise $153 million by selling stock and debt The Nevada Gaming Commission must give final approval in May before the stock can be sold. The company wants to sell stock on the public market to fund expansion efforts, including a netf Las Vegas casino and a casino riverboat in St Charles, Mo.

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