The Salt Lake Tribune from Salt Lake City, Utah • 27

akt Zribunt SINESS i ite) Business Desk: 237-2055 C3 TUESDAY September 29 1992 46 1431 ii65 34c 3 Utah Firm Rides Fast Track on Las Vegas Projects CM Agrees to Let Union Workers Determine Breaks 3281 Kt 3 3A 2 17 2 2c4 2 2c7 3 27 5 268 5 '2633 92 Highs rummy FALIIMILEILITAI Lows 11" 11411 75 75 72 7G 711 71 70 67 55 53 52 PG 23C i25 I 311 1)0 13G SZ ment parks are being considered in Las Vegas" Mr Hays said -That could mean that well get some more work if they become reality" Regardless the MGM and Circus Circus attractions and a Treasure Island development by the owners of the Mirage Hotel promise to change the face of the gambling mecca Instead of relying on adult gamblers the new attractions are expected to have a broad family appeal Along with Arrow Dynamics the changes are being felt by another Utah company Miller Jedrziewski Associates The Salt Lake company was selected last year to design 4234 guest rooms and suites at the MGM Hotel Theme Park More recently we were chosen to design the high-end or what are called the $1 million higtroller suites for MGM" said Ric Jedrziewski "We are now involved with the company in letting the contracts for all the furnishings" Circus Circus also has put its new Grand Slam Canyon on the fast track and hopes to have it operating by midyear beating the opening of the MGM Grand project by about six months The desire of Circus Circus to open by 1993 has put Arrow Dynamics on the fast track to get the coaster completed Mr Hays said "We are w-orking on a lot shorter schedule but it is not anything we cannot handle" he said By Steven Oberbeck THE SALT LAKE TRIBUNE Last year Larry Hays was a bit turned off by Las Vegas As director of sales and marketing for Arrow Dynamics Inc he was not amused when the Utah firm one of the premier roller-coaster manufacturers in the world had not been invited along for the ride by the $1 billion MGM Grand Hotel and Theme Park scheduled to open in 1994 Arrow Dynamics Clearfield had not been selected to build a single attraction for the amusement park being constructed around a Wizard of Oz theme "That was before we heard what Circus Circus Enterprises was planning and wanted us to do for them" Mr Hays said Arrow Dynamics has been selected to build the roller coaster and other rides for Circus Circus $75 million Grand Slam Canyon amusement center on the Las Vegas strip The Utah company will also be building a water attraction for the nearby Luxor hotel Mr Hays said That project being built by Circus Circus around an ancient Egyptian theme is next to the Excaliber Hotel at the top (south end) of the Las Vegas strip "There are rumblings that several other amuse 75 75 75 67 551 52 62 47 3C 47 2C 46 50 44143 46)9 65 64 4524 45 21 4C 50 3P1 :15 llonday's Dow Jones A late-afternoon wave of buying carried stock prices higher Monday reversing last week's losses as interest rates declined in the credit markets The Dow Jones average of 30 industrials down 7673 Dow Jones Index points last week recovered 2594 Ot mdusmai stcwIts 350r points to 327626 Advancing issues 3276 26 outnumbered declines by about sev- Up 25 94 en to six on the New York Stock Ex- 34c change Big Board volume came to an 335 estimated 15760 million shares j' down from 21365 million in the pre- 325 vious session Activity was curtailed by the observance of Rosh Hashana the Jewish new year Analysts also 31aG-1111 1 say investors have been reluctant to 3050-: do much buying in the face of uncer- 3ooG- G1: tainties in the presidential election 2g5 campaign But the stock market ap- 13 24 2 14 23 peared to benefit Monday from re-Aug saucE AAsct ot Sept newed declines in bond-market inter- 'a est rates The price of the long-term Treasury bond rose more than $2 for each $1000 in face value lowering its yield to around 734 Government-bond rates last week flirted with the 75 level up from a recent low of around 725 Around the Globe OSLO Norway Kraft General Foods bid more than $15 billion Monday for all shares in Freia Marabou Scandinavia's largest chocolate company The plan by the giant US company is to merge Freia Marabou with the recently purchased Swiss chocolate company Jacob Suchard to create the second-largest chocolate producer in Europe The bid is more than more than $74 a share which is more than $24 higher than the last quotation for Freia Marabou at the Oslo stock exchange the Norweigan news agency NTB reported Freia Marabou recommended that its shareholders accept the bid Around the Area The Utah Parks and Recreation Department has granted developer Wally Wright an additional 30 days to rehabilitate the damaged Saltair resort on the south shore of the Great Salt Lake The original deadline set last month called for Wright to restore the building and water slide and remove debris from the area by Oct 12 or lose his rights to the state-owned property Wright has paid the state some overdue fees from its share of concession sales at the resort Officials Warn of Credit Doctors' Fraudulent Cures 411 tg 813 17 77 7 30 6 21 16 30 15 86 914 KNIGHT-RIDDER NEWS SERVICE DETROIT In an odd resolution to an odd strike General Motors agreed Monday to let United Auto Workers members vote on how their breaks will be scheduled at the company's car-body assembly plant in Lansing Mich On Friday 4200 workers went on strike to block GM's decision last month to switch from a tag-relief system for worker breaks to a mass-relief system on an assembly line that makes Pontiac Grand Ams and Oldsmobile Achievas An adjacent assembly line which makes Grand Ams and Buick Skylarks was scheduled to make the switch next month Under mass relief the assembly line stops during break times and all workers take their breaks simultaneously Under tag relief the line keeps moving and workers are replaced so they can take their breaks in rotation The UAW opposed the change because it cut 350 jobs and because it had been implemented without consulting the union leadership in violation of the union contract at the plant Ted Hartman UAW Local 602 president declined to comment on the settlement Monday The agreement will allow UAW leaders to claim victory since they forced GM to let workers say how the company proceeds with its downsizing plans Now that this principle has been reinforced some leaders of Local 602 will argue that mass relief is actually a better idea for workers in the long run It has been a popular idea with GM workers since the 1970s according to internal company surveys GM officials in contrast will argue that Monday's settlement wastft overly generous since they still have the right to slow the assembly line and cut jobs as needed no matter which relief schedule is selected by workers When workers at the car-body plant left their jobs Friday GM was quickly forced to shut down a nearby chassis assembly plant that employs 3000 workers GPS 2X 233 233 225 225 225 2X 230 2X 230 150 Avg 34 Advise clients to apply for an Employer Identification Number from the Internal Revenue Service to use in place of a Social Security number Such numbers which resemble the Social Security numbers are used by businesses to report financial information If is a federal crime to misrepresent Social Security numbers or to obtain an Employer Identification Number under false pretenses Claim file segregation is legal Such practices are often fraudulent under state and federal laws the FTC statement says If mail or telephone is used to give false information for credit this could be mail or wire fraud the statement adds favorable credit information by establishing a new credit identity the FTC statement says For a fee the company often promises to help those who are bankrupt hide that information Bankrttcies remain on credit records in Utah for nine years and nine months noted Salt Lake Better Business Bureau director Bill Beadle "It is never right if anyone encourages you to make fraudulent statements for your own credit benefit" he noted And he noted making false statements on a credit application is a violation of federal law Such bankruptcy doctors the FTC statement says often: By Robert Bryson THE SALT LAKE TRIBUNE Credit doctors promising to heal every financial ailment can lure unsuspecting victims into making fraudulent credit statements Federal Trade Commission (FTC) officials warn Officials say it may only be a matter of time before such -credit doctors" ply their trade vigorously in Utah Currently only a few credit advisers using illegal schemes have been reported Those who have claimed bankruptcy may be the target of credit-repair schemes often called file segregation says the FTC in a prepared statement In this scheme consumers are promised a chance to hide un 34 25 44 28 29 28 50 2 7 50 2 7 AO 2 20 23 22 83 171 14 13 12 ts IC tO to 9 67 9 Panasonic Unlocks the Power xral of Your Desktop of Your Desktop 22 SC 75 118 50 to6 75 Praises Plaudits Three Utah firms are among Inc magazine's 1992 list of the top 500 fastest-growing companies 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