Garden City Telegram from Garden City, Kansas on November 10, 1977 · Page 7
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Garden City Telegram from Garden City, Kansas · Page 7

Garden City, Kansas
Issue Date:
Thursday, November 10, 1977
Page 7
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GM: Simply Bigger Than Most Things By JOHN CUNNIFF AP Business Analyst NEW YORK (AP) - From General Motors to its more than one million shareholders: a Merry Christmas and all that $929 million can buy. A yearend dividend of that amount will be mailed Dec. 10 to most of the individuals and institutions that make up the GM family, which now numbers 1,223,446 shareholders who own more than 286 million shares. Nearly a billion dollars! Not much to the federal government perhaps, but GM isn't quite that large yet, although it certainly swamps-by comparison a few of the smaller members of the United Nations. If you require further perspective, the figure isn't very much smaller than the 1976 individual income tax collections by the Slate of Michigan, in which is situated much of GM's 279,440,000 square feet of property. Compare that to the 2,240 square feet in your three-bedroom, IVfe-bath ranch and you get some idea of the proportions. But don't let the comparison intimidate you; GM is simply bigger than most things. It's payroll of 748,000 employes (1976 average) exceeds the population of at least six states. The per share dividend breaks down to $3.25, made up of the $1 quarterly dividend and a yearend bonus distribution of $2.25. But that's not even half the story; earlier in 1977 the company paid $3.55 in dividends. The year's total, $6.80 a share, means a 1977 payout of BUSINESS MIRROR more than $1.9 billion, a record high for GM and thus the largest payout ever made by a manufacturing concern. When GM pays there isn't a community in the United Slates, and many abroad, thai isn'l affecled in some slight way. As GM goes so goes the nation, a former GM chairman once said. Perhaps not, but when GM talks a lot of people listen, GM did just that on October 20, at a meeting here with securities analysts. And one excerpt from thai long presentation gives you an idea of how one company can exile Ihe imaginations of many: "We are forecasling record sales of 15.5 million cars and trucks in the 1978 model year — including 11% million cars and 3% million trucks." If the GM executives are right, one is almosl lempted to ask "How can the United Slates possibly slip into a recession?" as a few of the more timid souls in Ihe audience were warning. GM doesn't expect a recession. While il is Irue lhal many a similar business forecast is made in order to spread optimism ralher lhan broadcast the Irulh, one does nol commil billions of dollars lo a lolal myth. There must be some truth in it. This is how the GM executives expressed themselves, as the analysts lislened and made notes: "Overall, while one potential problems exist — particularly wilh regard lo Federal Reserve policy — the more subslanlive evidence points lo conlinued expansion. "Against Ihis background, an increase of aboul 5 per cenl in real GNP (gross national producl) in 1978 — which would be aboul in line wilh Ihis year's anticipated gain — appears lo represent a reasonable expectation. "While our outlook may be slightly more optimislic than the forecast of many business economists — it is definitely attainable — particularly if the economy proves to be as resilienl as it was following the 1976 pause and last winter's brief weather-relaled slowdown." Good news, Iherefore, not just for shareholders, who last year received 3.4 per cent of GM revenues, but for suppliers, who received 51 per cenl; employees, who earned 32.4 per cenl, and Uncle Sam and his nephews in stale and local government, who took 8.5 per cent in taxes. Who claims Sanla Glaus still drives around in an old- fashioned sleigh? r ELKS LODGE ^ DINING ROOM HAS NOW RE-OPENED Garden City Telegram Thurmluy. November 10,1977 Page 7 A Full Line Pharmacy.. '' Thurs. Family Night Mexican Food Music by: SAPPHIRE Fri.-Seafood Specials Sat.-Dance To JS & THE BACKS In Garden City ADMISSIONS At St. Catherine Marie Anstaett, Garden Valley Retirement Village Ernest E. Atkinson, Rle 2 Arlena M. Bayer, 629 Olive Ralph Beckett, 1106 Harding Gladys E. Blackburn, Scott Cily Evllyn B. Cox, Holly, Colo. Thomas A. Englert, Kendall Jotifi W. Jones, 1210 Old Manor ,Myra M. Kraft, Lakin Howard C. Owen, 1012 Theron Dora Grace Salazar, 801 Inge DISMISSALS At St. Catherine Ethel L. Bigler, El Dorado Randy V. Hoffman, Emporia Ronald E. Howell, 604 N. 3rd Henrietta G. Jennings, 1914 N. 8lh Pete H. Maestas, 611 Conkling Wesley L. Powell, Sublette Mrs. Scott G. Skinner, baby girl, 1610 Taylor Plaza Laverne E. Smith, Harrington r EXTRA SIZES Fw Women MfSin12H-32K.T*.i-2- LOTS TO LOVE SHOP MM An. DodgiCitv Jean Thiemann, Mrs. A. Sublelte James A. While, 612 N. 1st Mrs. Terry Zollinger, Eminence Rte. Jeremy A. Burns, Syracuse K.C. Can't Find Flood Workers , KANSAS CITY, Mo. (AP) A chunk of federal flood-relief money may be returned to Washington because Kansas City can't find enough workers willing lo hold on to $603-a- month jobs, city officials say. For six weeks city officials have tried to find takers for 350 of the jobs that make up a $750,000 work package awarded' to Kansas City in September by the Labor Department. "Everyone knows how bad unemployment is here, but we still can't find a total of 350 people who think $600 a month is worth working for," an unhappy program official said. Enough unemployed workers have shown up to take the jobs — 430 have been processed. The problem is that a majority of those hired begin showing up late for work or don't show up at all after they've been on the job a few days. "What we've ended up with is this: we hire 50 persons each week and we fire 50 each week," said Thomas Lewinsohn, city personnel director. "We're getting nowhere." (Published in The Garden City Telegram, November 10, November 17 and November 24,1977) CITY OF GARDEN CITY NOTICE Dog license for 1978 will be available December 15 at the City Clerk's office. All dogs must have a rabies inoculation before a license can be issued. Any dog inoculated after December 27, 1957, need not be inoculated only once every three years. Any dog inoculated with any other vaccine must be inoculated each year. Each male dog license is $1.00; each spayed female dog license is $1.00; each unspayed female dog license is $2.00. AH licenses for 1978 are due and payable prior to March 1, 1978. A penalty of 50c per month for each month of delay will be added to the above license fees after March 1,1978. Any dog that becomes 4 months of age after March 1st of each year shall at such time become liable for such tax for the current year. Bring the veterinary inoculation slip to the City Clerk's office. It is needed to furnish Information for the issuance of the City Dog License. i Tim Knoll City Clerk A registration statement relaiinf to these securities has been filed with the Securities and Etchante Commission but lids not yet became if nine. These securities may not be sM nor may filers to buy be accepted prior la the lime the registration statement becomes effective. This miicrtisrmenl shall not constitute an offer lo sell or Ihe solicitation oj an oSer to buy nor shall there be OHJI sale of these securities in any State in which such oler, solicitation or sale would be unlawful prior lo registration or qualification under the securities /oit'5 ol any suck State. Propusi'd /Wui Issue expected to he offered Novemhi-r 17,1977 1,200,000 Shares Kansas Gas and Electric Company Common Stock (Without Par Valuta A copy of the Preliminary Prospectus may be obtained by mailing the coupon below to an investment dealer in your community or to: EDWARD D. JONES & CO. 117 Gunsmoke — P.O. Box 183 Dodge City, Ks. 67801 227-7178 .. .With Health & Beauty Aid Savings Too! VO5 HARD TO HOLD DAYCARE Cough Medicine 6oz. BOTTLE REG. $1.87 TOPCO RAZOR BLADE Please send me a m-ecopy or the Preliminary I'robpcuu? ol Kansas G.i 1 - and Electric (.\»mp;in> (burin 03) Tip (residence) TWIN II CARTRIDGES 5CT. PKG. 10% OFF AD PRICES EFFECTIVE NOVEMBER 10-16 DILLONS PHARMACY EASTGATE SHOPPING CENTER - 275-1957 Prices cut to die core! And we're celebrating with a bumper crop of terrific bargains for you during our Apple Harvest Sale. So stop by TEAM Electronics and see how we've cut prices to the core! Beautiful to look at as it is to listen to . the Pioneer TH-3131 AM/FM Stereo Receiver/Multi-play Turntable/8-track Player System. Was *239 * 95 Extravagant power, superb performance and extras to please the connoisseur . . . the Technics SA-5760 Stereo Receiver. Power rated at 165 watts per channel min. RMS, both channels driven at 8 ohms from 20Hz to 20kHz with no more than .08% total harmonic distortion. $449 Was *799 95 Smooth operator for the budget minded . . . the 13SK 2(i:i()VV Multi-play Turntable. Choice of :i speeds-:i:!V 3 . -15 and 78 RPM — a groat asset for oldies-but-goodies fans. Other features include: convenient cue/ pause control to lift and lower the tonearm precisely and safely whenever you like: record size selector for accurate automatic operation with 7". 10" and 12" discs; umbrella-type spindle; 11" platter: ADC induced-magnet QLM cartridge with diamond stylus, base and dust cover included. Was *99 95 Your Headquarters for Electronics WE SELL WHAT WE SERVICE TEAM ELECTRONICS GARDEN CITY 276-2911 215 W.KANSAS •w 4

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