North County Times from Oceanside, California • 30

NX IMlI O. 'V. I FED Continued from D1 TOUR Continued from D1 Knotts Berry Farm planning major expansion of directors. The 150-acre theme park is buying a 6.7-acre parcel of land and pieces of a nearby strip mall. The family-owned partnership also is considering outside help to fund the expansion.

New York investment banker Goldman, Sachs and Co. has been retained to find investors to purchase at least some of the company, Anderson said. BUENA PARK (AP) Knotts Berry Farm has been buying surrounding land for a planned expansion to keep pace with giant competitors such as Disneyland, an executive said. As our neighbors spend billions, it has become difficult to keep pace. We need to be able to compete in the future, said Darrel Anderson, grandson of founder Walter Knott and a member of the companys board lion on the Windjammer roller coaster we opened this year, and a wooden coaster planned for 1999 could cost double that, said Terry Hackett, a Newport Beach attorney who represents the Knott family and is on the board of directors.

Knotts now draws about 3.5 million visitors a year, making it the 12th most popular theme park in the United States. Goldmans research will determine the market for Knott's, but some analysts have estimated its worth at $300 million to $500 million. The moves come at a time when other Southern California theme parks are spending millions on new attractions to draw crowds in a glutted market. Knott's itself has pumped money into a series of thrill rides. We spent more than $10 mil age of 15 percent of their average work life away from work; men, just 2 percent.

Women change jobs every 4.8 years on average; men, every 6.6 years. He said women lose out because at many companies, employees aren't vested in the pension plan until after five years. making media appearances to basically educate people as to the tough choices ahead, Apfel said in a brief interview after his swearing-in. He declined to endorse any specific changes to Social Security for now, though. The important thing is to keep an open mind for the discussions to educate not only the general public but the opinion leaders as to the trade-offs because there are trade-offs to all the options out there, said Apfel.

Experts have suggested a variety of fixes for Social Security, from cutting benefits to giving Americans back some of their tax money to save and invest for themselves. Clinton and congressional leaders, however, have yet to choose. If nothing is done, the program is expected to be overwhelmed by the retirement of more than 70 million baby boomers. By 2012, Social Security would pay out more in benefits each year than it collects in payroll taxes, leading to the exhaustion of all reserve money by 2029. Social Security now collects taxes from 144 million workers and pays out retirement, survivor and disability benefits to more than 50 million Americans.

Apfel replaces Clintons first Social Security chief, Shirley S. Chater, who resigned Jan. 31 after complaints from Congress that she had not planned for the looming financial crunch. John J. Callahan was interim commissioner.

more than 8 million women business owners generate $2.3 trillion a year in revenue. Still, women tend to have less money at retirement than men. Among the reasons are longer absences from the job market and more frequent job-changing, Myers said. Women spend an aver EARN search and less on hot tips. They invest more for the long term, which is one reason why womens investment clubs the best-known being the multibook-producing Beardstown Ladies have outperformed men's investment clubs 10 of the last 13 years.

They do more research, they buy and hold, and they buy things they know, Myers said. Ignoring female investors is a big mistake, Myers war ned. Not only are women better educated today and therefore earning more than they did in the past they control a large portion of financial assets for themselves and their families. More than 47 percent of Americans with assets in excess of $500,000 are women, and nearly one half of working wives make more than their husbands, she said. Additionally, ''1 the new-fashioned way.

See our Home Savings TT r-. have risen at a scant 2.2 percent annual rate so far this year, down from 2.6 percent last year and the best since 1965. It's been an incredible streak of luck, said economist Paul Getman of Regional Financial Associates in West Chester, Pa. Im shocked. But if it lasts more than another six months, Ill be doubly shocked.

I really think by next spring the Fed will be back to raising rates. Jones said the move could come even sooner, at meetings scheduled for Nov. 12 or Dec. 16. Just how soon the Fed moves depends on whether economic growth moderates enough the rest of this year to ease strain on factory capacity and the labor supply.

It also depends on a likely topic of debate at todays meeting: the explanation for the good luck that has allowed the Fed to leave its benchmark rate on overnight loans between banks at 5.5 percent since March 25. One argument, cautiously advanced by Fed Chairman Alan Greenspan, admits to the possibility the economy has entered a new era of increased productivity, driven by the rapid advance of technology in such fields as computing and telecommunications. A long-run trend toward increased productivity, new economy proponents argue, is allowing corporations to pay both workers and stockholders more without raising prices faster than before. Another school of thought, outlined in a speech two weeks ago by Fed board member Laurence H. Meyer, gives more weight to transitory forces holding down inflation.

These include a strong dollar that has led to a decline in import prices, a slowdown in health insurance costs, a drop in oil prices and plummeting computer prices. In the weeks ahead, any data showing that restraint on inflation is abating would settle the argument, at least temporarily, in favor of the second school and would be likely to trigger an interest-rate increase, analysts said. In a sense, this is an economy thats sitting around waiting for something bad to happen. We know ultimately it will happen, but we dont know when and we dont know to what degree, said economist Robert Dederick of Northern Trust Co. in Chicago.

The last report available before the meeting, released by the Commerce Department on Monday, showed consumer spending moderating to a 0.3 percent advance in August from a brisk 1 percent in July, even though personal income increased a robust 0.6 percent. Hidden TREASURE INVEST Continued from 1)1 are uninformed. When they finally do invest, its often too little, too late, said Myers, whose company in Dallas specializes in marketing and selling more effectively to women. The timidity is caused by a misperception. Women tend to think of themselves as novices when it comes to investing, while men tend to think of themselves as experts.

And success or failure isnt enough to shake that. When men lose money they blame their financial advisers, but when women lose money, they blame it on themselves, Myers said. Women see money as security. Men see it as status. Women, in fact, tend to have better investing habits than men, Myers said.

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