Carlsbad Current-Argus from Carlsbad, New Mexico • 26

BUSINESS D-2-Sunday, March 31,1991 Carlsbad Current-Argus Fed evidence: Recession airs near its end appe By Knight-FUJctef News robust than it 'first appears, analysts cautioned, because the one-month rebound is measured against January's unusually weak performance, when Persian Gulf War anxieties threw the whole economy into a stall. Midwest new-home sales soared from only 64,000 in January to 109,000 in February, for example. But "average those two and you get 86,000, and that's pretty close to the 84,000 (home sales) the Midwest had in December," noted Mark Obrinsky, senior economist for the Federal National Mortgage Corp. "When the December numbers came out, we thought they were pretty bad. Now that we are back to December levels, let's not get carried away," Obrinsky said.

February's sales were still 23 percent below February 1990 levels. Even so, Obrinsky expects the housing recovery to firm up gradually by the second half of 1990. Harley Rouda, president of HER Realtors, a medium-sized firm in Columbus, Ohio, thinks such caution is ill-founded; he's convinced that "Happy days are here again. I wish I could sing it" Rouda is also president of the National Association of Realtors, and insists that "across the country, real estate is absolutely exploding." Rouda's business exemplifies the Midwest's great February surge. "In January we sold $25 million worth of homes.

Way down from a year ago. It was the war. People spent more time looking at the war on TV than anything else." Other analysts were more cautious. "The sharp rise in the leading indicators may represent a 'false positive' reading," said Gordon Richards of the National Association of Manufacturers. Citing other less-chcery recent data, such as weak car sales, Richards said "it would be premature to forecast an early end to the recession." New homes registered a 16.2 percent increase in February, the first upturn since November and the biggest since March 1986.

Sales rose above January's pace in every region of the country, led by a record 70.3 percent surge in the Midwest Sales of existing homes also jumped in February by 7.9 percent, the government reported earlier this week. However, February's surge may be less "In February, we sold $45 million, which is as good a February as we'll ever have. And projections now for March will be $50 or $55 million, which is great for us. Unbelievable," Rouda said. Several key economic factors suggest the trend should continue.

Interest rates remain relatively low even though 30-year fixed-rate mortgages have edged up since mid-February to 9.6 percent last week from 9.25 percent six weeks before. Also, many sellers have lowered their asking prices, enabling even many first-time buyers to enter the market after years of seeing homes priced beyond their reach, Rouda said. "But probably most important they have confidence in themselves and in the economy," Rouda said of consumers. WASHINGTON On Good Friday, the government provided fresh evidence that America's recession appears to be ending. New home sales surged in February to their biggest monthly gain in almost five years, the Commerce Department reported.

Meanwhile, the government' index of leading economic indicators reversed seven months of sinking numbers to post a solid 1.1 percent gain for the month. "It looks as though we're coming out of recession," said Joel Pop-in, president of Joel Popkin Co. consultants here. "These (reports) add to a growing list of indicators that we seem to be bottoming out and turning around right now." Christian broadcasting new role for Price prises people. "We had Dale Whit and Tom Craddock of Oasis Christian Fellowship on for a program for us recently and they didn't tell anvone in Carlsbad they were coins to be crest Baptist, Hillcrest Church of God and the new Restoration Church.

Local programming will now be shown at 9:30 ajn. Monday through Friday and repeated at 7 p.m. Previously, the live programs aired only at 7 p.m. "KRPV offers something for the entire family," Price said. "We have excellent Saturday mornings' children's programming and a super show for young adults called Tire By Night at 10 a.m.

Saturdays." He said there also are programs for members of the Jewish and Catholic faiths, as well as Hispanic programming. Price said the effectiveness of KRPV sur- Price has not always shared his current views. "In 1974, my wife, Nelda, and I were fussing and fighting," he said. "I was drinking and she was taking pills. We had just tost our.

16-year-old, son and I was blaming God and funning. "God got a hold of us and we started witnessing for him. The last 16 years in the courtroom, I was working for Jesus and being a magistrate judge. When I got defeated in the election, I really didn't have a job. "Nelda and I had been hosting a show called 'Prime Time Praise' on KRPV each Thursday night.

AJ and his wife talked to us Continued from page D-1 "There will be a lot of good singing, preaching by ministers of all different denominations," he said. "We're in the days of God's last roundup. It's time for people to get right, get behind him and get serious with their lives." KRPV's next expansion will be Amarillo, Texas. Price said the station one day will expand into Las Cruxes. "We've got a potential of a half million people seeing our programming," he said.

That's a lot of souls who need saving and we're poised to do that!" about coming on board and here we are." Price said local people seeing local ministers on KRPV is one of the most effective tools for the station to reach new viewers. "Carlsbad already is involved with us in a big way," he said. "The Fox Lake Church of Christ sponsors a program. The and the Oasis Christian Fellowship has just signed a contract with us to air their previous Sunday morning services at 5 p.m. Saturdays, starting April 2O.75P Price said other Carlsbad churches who have had ministers appearing on the station include the First Assembly of God, Hill- on television," Price said.

"They wanted to see if anyone was watching. "Both of them were shocked by the number of people who told them later they had seen them on the program. "We've finally got something good and clean in the air, instead of a lot of that junk that is on regular networks. We invite everyone to tune in to KRPV we've got many good things going on." General Dynamics gets boost with South Korean F46 order Do you know how to decide whether or not to hire a tax preparer? To find out, call the Tax Tip Hotline at 1-900-776-7742 Code 2400 When you hear the tone, press 5 and youH learn all you need to know. The cost of the call is just 85c per minute.

The Tax Tip Hotline is a service of CARLSBAD CUREENT4RGUS When a new Korean defense minister ordered the deal reviewed last fall, the door opened for a renewed bid from General Dynamics. General Dynamics would build 48 of the planes in Fort Worth between 1994 and 1999. The rest would be built, with company help, in South Korea. "It's been a long time on the books, several years that we've been going through this competition," said Dwain Mayfield, General Dynamics vice president in charge of F-16 development. The South Korean Defense Ministry, in a prepared statement, apologized to McDonnell Douglas, saying choosing General Dynamics' plane would save the country $2 billion.

Mayfield estimated the difference at $1 billion. General Dynamics' 200 LIS. F-16s performed well in the Gulf War. The plane flew approximately 13,000 US. sorties with a 93 percent fully mission-capable -rate.

FORT WORTH, Texas (AP) South Korea is or-I dering $5.2 billion worth of F-16 jet fighters from Gen-I eral Dynamics Corp. rather than buying more expensive F-A-18s from McDonnell Douglas as originally planned. Final terms remain to be worked out in the deal, -which also must be considered by Congress, officials said Thursday. The purchase of 120 planes would be a boon for St. Louis-based General Dynamics' plant here, where 7,000 workers have been laid off this year.

The current work-force of 23,000 is to be trimmed further to 19,000. In 1989, South Korea agreed to a $4.7 billion deal to buy 120 F-A-18 jet fighters from McDonnell Douglas, also based in St Louis. But some members of Congress objected because 12 of the planes would be built in this country. I'- Laser, South Korea claimed delays boosted the cost to more than $6.2 billion. Help Us Serve You Better.

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