The Charlotte News from Charlotte, North Carolina • 9

BUSINESS PLUS The Charlotte News Wednesda ly 7 1 982 0-i BusINEss PLUS The Charlotte News Wedneidoh LI 7 1982 1 I 1 IMINMMOIIM imon trendlines FROOA NEVvS RE nEpoRrs Regional stocks iFlomsbiwl by Seem ba'soy Star' Shob0 Midday listings Chng UN UN a UN Hugh 2'2 21's 5' 16' 60's last 2's 21's 5's 16's 13's 37 15's 16'io 14 5 24'4 Low 21' 5' 16'i 60's 153 16'11 241 24''t Aeronca Duke Eastrneir Pam Dol IBM NCNB Nucor PdGas Rexham Ruddick SposMiis Stanwood Wachovia Firestone Tire selling SC steel subsidiary The Firestone Tire and Rubber Co is selling its steel products plant in Spartanburg SC to the Brenlin Corp of Akron Firestone announced the agreement in which Brenlin would acquire the plant for an undisclosed amount through its subsidiary Spartanburg Steel Products Inc The plant was a major supplier of steel barrels to the brewery industry containers to the soft-drink industry and stampings to the automative industry since 1962 37 151 161 241 24'4 I 0 0- 0z000000000000400 0 5 rr71(117rn -a 1 I fe 0 i 4 4 sA- I 1 I 4 t- lir -'t4s4 i e- v1 t- fr e' i 4 I 1 41 -t 44 t''-' 1 4 L3 Jo 7'- To 1 I 4 5 4 4 rf't -4 1 i 0 I :4 i5 i ''''''4i 1 ir 4 1 0 im0 rs11-7 tA (it-A IA' l4tt-: si I I 104 1 I voi--itti t- I 1 1 7 i 1 1e 4 1 i0rri 'i 0 maim el 1 -4 rt 1-4 i t- tt I Stiki 5 tUli 401 iirrr 5t re I 41 stH 1e ci1 g-- A -7'7' --k 4 1 i4eso 51 'qs' i a 1 1- i A'1491161111 0000- -4 fl 1 'A 1-11 4 A titt I 0 7tL14t11 4 4 l' 4 4 1 2 41 t-343: UN 4 Over-The-Counter Bid Asked 24'i 25 73 18'i 185i 2214 23 54 5'i Coca-Cola Cons Engraph istUnCorp Lance PCA Cons Pepsico fires back PepsiCo Inc which reacted angrily last spring when Seven-Up Co began test-marketing a similar product plans to introduce a 99 percent caffeine-free soft drink today a spokesman said Car sales decline The five major US automakers Tuesday reported that new car sales for the last 10 days in June dropped to their lowest level in 24 years marking the 39th straight month of sales declines The carmakers said June 21-30 sales were down from 172683 to 159587 New right for The right to demand full payment of mortgages when homes are sold won by federally char tered savings and loans last week in a US Supreme Court decision may be extended to state-chartered in the nation's most populous state The Los Angeles Times reported Tuesday that California Savings and Loan Commissioner Linda Tsao Yang is considering the move liar 99 ink ers car me 24 ght 30 to arek ion renia ner ing The Charlotte News Regional Stock Index OA OA 1 OA rotiti4ez35042 -0875 Depositors line up The government says worried holders of the 28000 accounts at the insolvent Penn Square Bank the 21st US bank to fail this year have plenty to time to withdraw their money Despite assurances that accounts up to 8100000 were insured depositors began lining up outside the bank as early as 6:30 am Tuesday The lines at drive-in windows and at the main offices grew steadily through the early part of the day Dow Jones Industrial Avg Local agency purchases 1960s landmark for $13 million (News photoTom Franklin) Local 71 I I 6 9 -191 Cowgill kgency purchases is Executive Inn Tryon By ABBE FLETMAN OF THE NEWS STAFF 1 1By AE i OF THE Ait-- 4 4tr :0: lawookk 4-: i 4 1: tr 7:1: i i 44 41X fit i Itgrgi vs tig' r'zat: '4q 's i m-1: 4444 tAei 4 ''A 4 tAiti i ti "0 4' 0 A :1 IS: rossuk" i ki 3 ::1: i'i 1 44 411Kuit4- 40 st' :::3 7:: '--Vs '-0' 1 43 ez: i :144 1'0 -7 77- nn ::1 4:: Inomunaget AN 44r6r 't'''Trn777 iiw44ii tr it: i 4 1 so ts 11V4't- -116itk Nc 41 ti '4 rkiok 1 1 4 '47" 3: :7044444 14 'ballawtoNtiOto 4111016iVirlEINEENCIMMILIMINIMIMPOPMINSIMINIMMIINEW sale in 1977 News accounts at the time said Davborne paid more than million for the hotel's second mortgage Originally called the Manger Motor Inn the hotel cost $2 million to build It originally had about 150 rooms About 44 rooms were added in 1966 However Mr Earls said the hotel on which his firm spent at least $300000 for renovations had drifted in and out of profitability since his company took it over He said major capital expenditures would be needed to make it a success and that because of the firm's distance from the property it made more sense to sell "We love Charlotte and we like the hotel" he said in a telephone interview today "But if it's not owned by a chain it should be owned locally" he Executive Inn the North Tryon Street hotel that was heralded as one of the ttoutheast's most luxury lodging 'spots when it opened in 1960 has been quietly sold to Cowgill Agency Inc of Charlotte for about million While a $10000 blast with 1- :500 guests and 600 quarts of celebrated the hoters opening 22 years ago only the filing of a deed marked its sale Cowgill a real estate management and development firm bought the 631 Tryon St hotel from Davborne Associates Ltd of Washington DC according to records filed with the Mecklenburg County register of deeds Davborne general partner bregory Earls said his company tfought the hotel in a bankruptcy l'outh spots been Agern Wh 00 1 filing Coy ment bough from I Washi rrcord burg Day Grego' tioughl Because of its location and condition he said "keen interest" was expressed by several buyers before the deal with Cowgill went through When opened long before the Radisson Plaza Sheraton Center and other downtown properties existed the Executive Inn was the jewel of downtown hotels and the flagship of the Manger hotel chain The hotel made headlines in the early 1960s when under the leadership of longtime manager Abel Girault it was one of the first to admit blacks Its first black guest was the late civil rights leader Dr Martin Luther King Jr Mr Girault who no longer manages the hotel was subsequently invited to the White House by then-President Lyndon Johnson to discuss peaceful implementation of the Civil Rights Act The Manger was first sold in 1973 and under a series of owners began the slide Into bankruptcy before being bought by Davborne This is the first hotel purchase for Cowgill a real estate management and development firm primarily involved in apartments condominiums and shopping centers Cowgill officials were unavailable for comment today Steelcase expands 11F WPCQ seeks foothold over marketplace rivals mi ON There seems to be no end to Steelcase Inc's Fletcher plant in the North Carolina mountains near Hendersonville Eight contemporary office furniture wood lines are made at the plant which grew to 850000 square feet recently with a 450000-squarefoot addition The plant which employs 570 people began operations in Fletcher in 1973 with 30 employees and a 200000- square-foot plant NVCCB owned by Bahakel Broadcasting had similar problems as an American Broadcasting Co affiliate a few years ago But the station's fortunes FREE CTURT ISTOPM SALE! STORM DOOR STORM ItUn SALE! STORM DOOR $99130 (NSIALL Avnikible in clifferen ler 31coth Illt Avoik61indituren I 9900 Idt 31oth (NSIALL STORM WMOOVI seemed to change when it became an independent It was no longer required through network agreements to carry 6 o'clock and I I o'clock local news programming and focused on movies and reruns of popular primetime series But for WPCQ the question remains: Did Westinghouse get itself a $20 million lemon? WBTV's Mr Edgerton won't answer directly but sums up the views of others surveyed: "It was an awful lot of money" IF YOU fliWEITIT IU :1411:1 ME N0 ARLES Jo GENES STRATEGIES 4247wi et1 YOU'RE LOSING MONEVI 74 IF YOU toto Li 4 ofor'S'5Nk 1 l' -7 1 111 $24(x) INSTAL 1 UR provement 68-ts66 SOU Improvement 1 tir CAROLINA CAROLINA Home HomcTlm REUSIIMATES 04 p11 4 4: yr 'oo! 4-p ii I i 'V 11 continued from page 8A 'channel 36 has no personalties 'comparable to that" he said Much of the problem has been ue to WPCQ's reputation as a breeding ground for larger Group 'W stations Mr Spinola noted Group promotes from within its operation more frequently than most other broadcast companies' leading to rapid turnover he said Still Mr Spinola argues that lead anchors Amanda Davis and Bob Raiford have developed a stronger following than the ratings indicate And local observers say WPCQ's news has improved markedly since the ownership change and particularly since Natalea Brown came as news director from Group NV's Baltimore station Advertisers are hoping that WPCQ can become more competitive with WSOC-TV and WBTV potentially driving down the price of advertising a media buyer for a leading local advertising agency noted Westinghouse meanwhile views WPCQ as a "profit center" like any other stations it owns Mr Spinola said That's why the company has invested perhaps $1 million into the station on top of the initial purchase price he noted Al Lucero who recently took over as WPCQ's general sales manager after coming from Group W's Baltimore station worked for a UHF station in Jacksonville Fla that gained parity with two dominant VHF (Very High Frequency) stations there "It took good bard work get ting out and meeting the people and creating an image that people wanted to watch" he said And he adds "it's more fun to start in third when you're the un- derdog than trying to stay as king of the mountain" views WPCQ as a "profit center" like any other stations it owns why the company has invested perhaps $1 Mr Spinola said That's million into the station on top of the initial purchase price he noted Al Lucero who recently took over as WPCQ's general sales manager after coming from Group W's Baltimore station worked for a UHF station in Jacksonville Fla that gained parity with two domi- nant VHF (Very High Frequency) stations there It took good bard work get- ting out and meeting the people and creating an image that people wanted to watch" he said And he adds "it's more fun to start in third when you're the un- derdog than trying to stay as king of the mountain" 4' co 4-- Chann 'comp Muc lue tc hreedi 'W sta Group its ope most Whether you want money or have money you must know the insider's secrets of building or protecting your wealth Today you don't need big money to make big money but you must use big money strategies Listen to 90 minutes of power packed Mcney Strategies that could change your financial life YOU WILL LEI RN TO: 111111111111MEMEIRMINI 111111MEMENU CHARLES GIVENS IN PERSON CHARLES CI' BUICK GMC TRUCK Leasing We Send Receive Telex Messages World Wide I -800-211-3703 Authentic Si Registered ENGELHARD SILVER Available in 1 Tr OZ 10 Tr ot 100 Tr oz and 1 Kilo bars PrOfrOSilInZI illarfirting rirrtlire (704 )568-549 414i 1 2 Y2 C0 up to 48 Months We know how to be HELPFUL SCOTT BUICK GMC 501 Caldwell 375-4411 NC Watt 800432-6988 4 W'' '41 FILE AWAY YOUR SAVINGS r'91Ploomfor! 1 Cut your tax bracket to zero with the 15 legal tax alternatives Travel the world on tax free dollars Borrow the equity in your home laq TUESDAY JULY 6 RAMADA INN COLISEUM 2:00 PM 8:00 PM 3501 Independence Blvd (2 blocks from Coliseum) 1 4 rr7B1 4 Drawer METAL FILE Full Suspension Type Drawers Letter Size THE ONLY 2612 DEPTH FILE FOR LOCK 9900 Warehouse Prices No Outside Sales People EXECUTIVE ARM SWIVEL CHAIR Vinyl back and fabric seat modern cast aluminum base Compare Quality anywhere Superior 410 List Price $146 SALE PRICE $9000 EM1Mil Earn 200o guaranteet interest government insured Why you will lose in the 80's in stocks bonds gold or diamonds How to start investing with little or no money WEDNESDAY JULY 7 HOLIDAY INN WOODLAWN 2:00 PM 8:00 PM 212 Woocgawn Road Woodlawn Road) Save thousands of dollars in interest on your current home mortgage Buy rental homes at 1012e0 interest with no negative cash flow Take 8500 of the headache out of managing property THURSDAY JULY 8 HOLIDAY INN 2:00 PM 8:00 PM 3815 Tryon Street (US Bus 29 6 Iron Wednesday July 7 WBTV Ch 3 "Top 0 The Day" 12:00 noon "His real estate portfolio must look like the New York telephone directory Virginia News Journal Wed July 7 WPCQ Ch 36 "Q36 Action Nevis" 5:30 PM Wednesday July 7 WSOC Ch 9 "Page II" 6:00 PM "Givens' lectures are for those who mistakenly think they can get ahead by working hard" Tampa Tribune "Givens is the Financial Wizard of the 80's" 'Givens is passing out a lot of valuable WOR11 information Orlando Sentinel Star 41MIAM ilMWDEIIRESIMEEMNN MO11011111OPIIIIMOMMEEMIlb YOU CANNOT AFFORD TO MISS THIS LECTURE! kLYTEIOR L4-tNcI Charles Givens DF achieved his I corporate goals in v1ONEY his early 30's as an 3TRATEGIET-41 executive with such influential 'Fortune 500" THE 80'S companies as Genesco and the Del Webb Corporation By age 35 through the use of unusual tax investment and real estate strategies Charles Givens had become a multimillionaire Givens' personal investments include over AUTHOR OF MONEY STRATEGIES FOR THE 80'S 100 residential real estate properties from Washington DC to Florida Charles Givens noted author lecturer and president of the Charles Givens Foundation (a non-profit educational and research institute) is creating high powered money strategies and sharing them with millions of Americans throughout the country IN 90 MINUTES THE CHARLES GIVENS STRATEGIES COULD CHANGE THE REST OF YOUR LIFE THIS FOUNDATION DOES NOT PROMOTE OR SELL INVESTMENTS REAL ESTATE OR BUSINESS OPPORTUNITIES Emi Charles Givens non-proht Foundation 4 114 1 2 12 cl Cut your tax 1 i aroveretiahogonueysaounrdcstiorfrednotilhaorsmien in- Earn 200o guaranteet interest ougovernment vi will Toms lose ni the Insure due know ow be ptno48hMontth Taer1 trae bracket I- rniaittthihvet sh rli 5d en at a to xt a wr-'': Buy rental homes at 1012e0 '1 idiamonds Why to ycl(s or onds go ld interest with no negative HELPFUL free dollars A cash flow 4 4 Borrow the equity in your 1 How to start investing with SCOTT BUICK GMC home at Take 8500 of the headache little or no money 501 Caldwell Out of managing property I -11 11 A- -i 375-4411 7444 --Zi' Alf i l'' NC Watt 800-432-6988 1111ktitifitWEEIOD NLYIPIAEttIk CTUREKINTHESEUCATION 4 TUESDAY JULY 6 WEDNESDAY JULY 7 THURSDAY JULY 8 t-- li RAMADA INN COLISEUM HOLIDAY INN WOODLAWN HOLIDAY INN 14f 2:00 PM 8:00 PM 2:00 PM 8:00 PM 2:00 PM 8:00 PM i 3501E Independence Blvd 212 Woodiaern Road 3815 Tryon Street Lk Woodlawn Road) 0-1S Bus 296 Tryon St) (2 blocks from Coliseum) (I-71 1io c-i t'I''''rc-14-Vi'l? 'z "-tt-aa31b4-1-71-o- 74-- It gEittor tiPlititill Atoll LEV ivet At tIvrttIVE Nontoti I Ktittlof all (SA 9 -11 Wednesday July 7 Wed July 7 Wednesday July 7 WBTV Ch 3 WPC() Ch 36 WSOC Ch 9 FILE AlAtAy your? sAvINGs "Top 0' The Day" "036 Action News" 'Page II" ACM EtE :4 1200 noon 530 PM 600 PM i 1 ---14r1' i 4 Drawer EXECUTIVE NI end Receive Telex METAL FILE ARM SWIVEL CHAIR real estate portfolio 4111A ellAl EPIA1 SS Alyi -4 zt iages odd Wide A A -1 7 "His rtfolio must look like the "Givens' lectures are for those who mistakenly 1 -800-91-1-3703 Full Suspension Type Vinyl back and New York telephone directory think they can get ahead by working hard" rosevsesowsdsosisisevi" Drawers Letter Size fabric seat modern 7 1 Virginia News Journal Tampa Tribune td I cast "Givens is the Financial Wizard of the 80's" 'Givens is passing out a lot of valuable Alithenti Si Regi tered rk ONLY THE aluminum WOFLTV information Orlando Sentinel Star base emsomoneemereellereemb 411111111MOWEENDISMEEMEINN ENGELHARD i 2612 Compare Quality 1 YOU CANNOT AFFORD TO MISS THIS LECTURE! ILVER A'-1' 7 i-- FILE DEPTH anywhere Superior P710 AUTHOR LOCK 00 FOR THE 80 t4 Charles Givens 100 residential real estate properties from Washington -6 iiio' -A irmin in DO Fl rate goals Charles Givens noted author lecturer and presi- -i44i'1 HA rt7t---il ti 00 List Price $146 OF MONEY -e achieved is to orida corporate 1 pr) FOR early I 3woshass: research ti te)s ng high Givens Foundation uou di acti creating t(lan on profit rk j- Vs ro fi 00- lb p--A CN 4' 04-0 4-- --f: toc f4---- 4-'--1 t' -rtf 99 00 SALE PRICE 90 STRATEGIES (FA 'S icnofimuepnatinaiel FaTu Gnen 0ee5s0c0" powered money arstrategies and sharing them with millions of Americans throughout the country IN 90 and the Del Webb MINUTES THE CHARLES GIVENS STRATEGIES A 'I 'I i Corporation By age 35 through the COULD CHANGE THE REST OF YOUR LIFE til vAe 1 Tr Oz 10 Tr ot use of unusual tax investment and real estate THIS FOUNDATION DOES NOT PROMOTE OR 100 Tr oz and Warehouse Prices No Outside Sales People strategies Charles Givens had become a multi- SELL INVESTMENTS REAL ESTATE OR 1 1 Kilo bars millionaire Givens' personal investments include over BUSINESS OPPORTUNITIES profi1 i i 4 I 4 IN t- ei Em 1 Charles Givens Foundation illarfirting rirrilire It I t- 7 '7 '-t ii'--: A -'i ti A 011174140 A tkLiAlc4 ttl 10 tiliii (704)568-5494 a non-protit educational corporation 1Er '-a'''L V---- oreN 1 Cut your zero with alternatiy Travel thi free doll Borrow tt home a I.