The Record from Hackensack, New Jersey • 55

Th9 rm 1 pjiQ 17 11 an's ouster ur cleregulator 09 auk Keg as i 7 H. 1 "i- 4 i the money-market mutual funds and their ilk," he said. McCormick said the community banks and the thrifts share common concerns "in the face of newly proposed legislation which would permit interstate takeovers and bank ownership of thrifts, and a secretary of the Treasury who has pronounced that 'functional specialties don't make "Regan is pursuing a course as chairman of the DIDC which makes it obvious that a Merrill Lynch bull is in charge of the china shop," McCormick said. High interest rates scored The league concluded its three-day convention yesterday, having attracted almost 4,000 delegates to displays of equipment and services by vendors and speeches on the state of the troubled industry. U.S.

Sen. John C. Danforth, who guided the all-savers certificate legislation through Congress, told delegates that high interest rates resulting from federal tax, spending, and monetary policies were the cause of the industry's problems. He said bringing down interest rates "must be our top economic policy." Many of the thrifts are saddled with low-interest, long-term mortgages for income while forced to pay higher interest rates to attract From The Record's win services NEW YORK Treasury Secretary Donald T. Regan, former chairman of Merrill Lynch Company, should be ousted as the nation's chief bank deregulator, a commercial banker told cheering delegates at a national savings and loan convention yesterday.

"There is a fundamental absurdity in placing the future of the nation's depository institutions" in the hands of a regulatory body that includes the Treasury secretary, "who not only brings a nonbanking, Merrill Lynch philosophy to the committee, but is installed as its chairman," said Robert L. McCormick a spokesman for the Independent Bankers Association of America. McCormick, president of Stillwater National Bank in Stillwater, was the first commercial banker to address a U.S. League of Savings Associations convention in 12 years, league spokesman James Kendall said. Regulation of funds urged McCormick said the unregulated money-market mutual funds, such as those offered by a Merrill Lynch subsidiary, should be subject to the same reserve requirements and interest limitations as banks and thrift institutions.

He said the restrictions should be in effect at least until banks and thrifts are deregulated, a process now being carried out by the Depository Institutions Deregula-tory Commission (DIDC), of which Regan is chairman. The alternative, McCormick told a news conference later, is failures in an industry where "thousands of thrifts and several hundred banks are operating at a loss." "Regan is pursuing a course which makes it obvious that a Merrill Lynch bull is in charge of the china shop. Robert McCormick Jr. He said Regan and the representative of the National Credit Union Administration, who is not bound by DIDC decisions, should be removed fronUhe body because they "have no working relationship with the everyday problems of the banks and thrifts which are being deregulated." Even while calling for temporary regulation of the money-market funds, McCormick said his group, representing about 7,000 community commercial banks, favors a gradual elimination of federal depository regulations. "We would like to see deregulation stalemate broken, so that we are not left completely defenseless in the competition with h.l.-,-JJtvWV.-.--J-.-A-rt.

Cella's success: a toast to Aldo Business news network starting By Carl Cannon Los Angeles Times News Service In the good old days of 1978, the world's most improbable playboy, a roly-poly 5-foot-7 character, would stroll around the streets of Rome carrying a bottle of chilled wine, overcoat thrown debonairly over his shoulder in the best Adolph Menjou fashion. "Hey, Aldo," the women would shout, and the amiable Romeo would pause and pour each a little of his Cella Lambrusco, a sweetish, spritzy Italian wine. "He is not tall, he is not pretty, he is not powerful, but he knows what women want," said the voice-over announcer of the television commercial. But times and Aldo have changed. In those days, Cella was selling 750,000 cases of wine a year in the United States.

This year, Cella expects to sell 3 million cases. It has grown from far back in the field to become the second-largest brand of wine imported into this country. No. 1 is Riunite, which sells about 9 million cases a year. But the change in Aldo has been more subtle.

At first, he was surrounded by smitten women; then he was shoved a bit into the background, and now he is shown with men and women of all ages enjoying food and a ood time. "In the first commercials, we were concerned with establishing an awareness of the brand. They were centered around women because women were the main purchasers of the wine. Now we are trying to show that not just women, but everybody loves Aldo because of the wine," says Hank Wasiak, president of the Joseph Garneau Company, a subsidiary of Louisville-based Brown-Forman Distillers Corporation, which imports Cella. In those four years, "Aldo Cella" has almost become the personification of the wine he is selling light, bubbly, and not to be taken too seriously.

So much has he become identified with the wine that there are indications that Garneau was worried that consumers were more interested in Aldo than the wine, and the company considered playing down the role. "We always look for options," says Wasiak, "and one of those options could have been a lessening of the role of Aldo. But we let the consumer dictate our advertising plans, and they told us that Aldo was memorable, lovable, and conveyed what we wanted to say about the wine. So we are going to keep Aldo for a long while." The suave man-about-Rome is in reality Jim Manis, a 42-year-old actor of Greek descent from Gary, Ind. Manis is so wrapped up in the role that he seldom steps out of the Aldo Cella character, and Brown-Forman is reluctant to have him do so, even for interviews.

It is not just a commercial role, but a full-time public relations gimmick, with Aldo appearing at fairs, cook-See ALDO, Page C-14 said Glen H. Taylor, president of the California-based network. Taylor described the venture as "a long overdue and positive response to a national need for comprehensive business and financial information." The program will run from 10 a.m. to 5 p.m. weekdays, with taped repeats shown by some of the local television stations at night.

Three Ring Productions the Santa Monica parent company of FNN, has lined up 13 cable television stations across the country to broadcast the program at no charge. The affiliates will share in advertising revenues from an anticipated 100 daily commercial messages, sold at $2,500 for a 30-second spot. In addition to the Newark and New York stations, FNN will be broadcast in Smithtown and Poughkeep- sie, N.Y., Los Angeles and San Francisco, Philadelphia, Atlanta, Miami, El Paso, Greenville and Columbia, S.C., and Idaho Falls, Idaho. Together, the affiliate stations have the capacity to reach 21 million households, including 5.8 million in the metropolitan area. Sit i 1 w' A French financier looks back in anger Firm strikes it rich recycling used oil By Kathleen Sullivan Business Writer Financial News Network (FNN), a seven-hour-a-day satellite broadcast of economic news, is scheduled to make its debut Nov.

30 on WWHT-TV, channels 60 and 68. Patterned after the Cable News Network's 24-hour programming, FNN will provide news, commentary, interviews, and reports on national and international economic activity, as well as continuous display of stock exchange ticker tapes, recycled oil will be put Into stor age and later sold to oil companies for use as lubricants, hydraulic oils, and transmission fluids, Brown said. The refining process used Is called a vacuum distillation method and Is not unlike refining crude oil, Brown said. The process was successfully developed In Kansas City In the mid Seventies, but the Inventors had no financial backing to carry it further, he said. "This Is the first full-scale plant using this process to be built In the United States," Brown said.

"Other firms are recycling oil, but most try to do It by a chemical treatment." XL By Lorraine Bennett Los Angeles Times News Service When he was growing up in Salt Lake City and Seattle, Del Bron-son was so poor he went to school with cardboard in his shoes. His parents separated while he was young, and he had to work to help support his family, leaving him little time for formal education. In 1948, when he was 26 and newly married, he took a job with a company in the Los Angeles area that re-refined used oil a process most people still have never heard of and an industry that, given an ample world supply of unused oil, appeared to have little future. His employer soon went out of business, but Bronson saw an opportunity. He rented a small, truck and started his own oil re-rcfining business, collecting used lubricating oil from service stations and other sources.

He was eventually successful enough to buy his own plant for dehydrating waste oil in Fontana, a community near Snn Bernardino east of Los Angeles. think a lot of people will be getting into the' recycling area. Del Bronion Today, he Is president of Lake wood Oil Service of Santa Fe Springs, has a fleet of 23 trucks, and recently broke ground on new 5-milllon recycling planl When completed, the new plant will recycle 10 million gallons of lubricating oil annually using a proms he describes as simple and pollution-free, making It the only one of Its kind In the United States, The plant, which Is scheduled to open by the (all of 1982, Is being By Jeffrey Ulbrich The Associated Press PARIS Baron Guy de Rothschild, head of the family that for almost two centuries has been the symbol of wealth in France, is a bitter man. "This office in which I am receiving you is empty because I've already taken all my belongings out," the soft-spoken, gray-haired banker and financier told a visitor to the headquarters of the Banque de Rothschild on rue Laffitte. "This has been my home, perhaps even more than where I live, because I've changed places where I live.

This has been my constant home in every respect for the last 50 years." The 72-year-old de Rothschild, along with his cousins Elie and Alain, is in the process of leaving rue Laffitte and the banking business. The venerable Rothschild Bank is one of 36 private banks being nationalized by the new Socialist government of President Francois Mitterrand. "The government, even if they wanted to nationalize all banks, which I think is an extremely bad idea should have done things properly. That means carefully," de Rothschild said. "They are acting in haste as if they are being pursued by an enemy, and they wanted to burn everything before the enemy caught up with them, which is totally absurd." The nationalization Is expected to take effect within a few months.

The amount of government compensation Is under negotiation. As of 1978, the Rothschild Bank was 19th among France's 53 largest banks. Although the cornerstone of the Rothschild empire has always been finance, the family's considerable holdings In hotels and other real estate, mining, petroleum exploration, mutual funds, vineyards, and other areas will keep It a major financial force. Nevertheless, the future of the House of Rothschild Is clouded. built with the assistance of Resource Technology Inc.

of Kansas City, which developed the new process. The project is being financed by the Bank of America and the California Pollution Control Financing Authority. "If this is as successful as I believe it will be, I hope to build another plant in San Francisco, and then another in Seattle," Bronson said. "I feel this oil is a natural resource we should definitely recover and recycle." The recycled oil will be sold to oil companies for use as lubricants, hydraulic oils, and transmission fluids. Re-refining, by no means a new concept, dates to about 1915, Bronson said, and was popular until the Sixties.

At that time, he said, about ISO re-refiners provided for more than 18 percent of the nation's yearly lubricating oil demand. But unfavorable economic conditions and federal legislation, as well as a hazardous waste problem, made the process unprofitable, he said. Only recently have legislative barriers fallen to create a more favorable climate. And a new process has been developed that does not leave behind a hazardous waste product, he said. "We will be able to produce enough new lubricating oil to re fill your crankcase after an oil change about one'gallon by re-refining two gallons of used oil.

It would take 100 gallons of crude oil to yield the same amount," Dronxon explained. "I think a lot of people will be getting Into the (recycling) area," Guy de Rothschild "It's a very open question that I can't answer," the baron said of what lies ahead. "If something which would be respectable and valuable enough to be called 'the House of Rothschild' In France will survive or revive, I can't tell." It is not the first time the French Rothschilds, who descend from Meyer Rothschild, an early 19th-century German moneylender, have seen their domain eroded, In 1936, the leftist Popular Front deprived the Rothschilds of their extensive railroad holdings. In 1940, after German troops rolled Into France, the Vichy government of Marshal rhillppe Petaln confiscated the family's fortune and stripped them of their citizenship after they fled the country. After the war, the family rebuilt Its prosperity In the banking world and expanded Into other fieM.

"The French Rothschilds committed the error of believing they See FRENCH, Page C-14 he said. And In the next several yean, "you will probably see 80 plants like this one In the U.S.," he predicted. "Right now, the ono plant doing this process Is In Oslo, Norway." Today's market Is strong for all types of lubricants, and oil Is needed for use In Industry as well i as automobiles, said Gary Brown of Resource Technology Inc. Brown will be Bronson's project manager during construction of the Fontana plant Bronson's company collects used oil from service stations, garages, and Industrial companies. This oil will be fed Into the recycling process at a rate of ft million gallons or more a year.

The.