The Charlotte News from Charlotte, North Carolina • 9

agoll bagElrE090 1ainErICITID11 THE CIMIDTTE NEWS Thursday Feb 7 1980 9A United Airlines: Flat fee to benefit travel agents lee nts 1 vr-rtf-t 4re -i ce 021-40rarwmc- itv: iq" '-''''''-nzip(-- 4 4 a' oWw4 -'i4'41- 41- 2: 11 4 I I' 4i 1: 7 -4 4 'F)g '1 -pot t' 7-'-'' 1 4 11'431': "fr 4-1-- -r-AuTrr I 4--- t-1 op 1- -ut- 44k144 fl 7 4 :1 'Zr41 ''t'S-''''''' 44tgatf40i '4 1 --4 -2 s---i -4 i1110----- i bz-- A drawing of Charlotte Motor Speedway's new corporate headquarters Jackson said Deltas average passenger trip is only 600 miles Betsy Allen of Piedmont Airlines in Winston-Salem said that airline hasn't decided on a response to the CAB ruling Piedmont also has a short average passenger trip "For years airlines paid commissions based on the value of a ticket" said United's Gunter "Now we intend to compensate them on the amount of work they actually do for us They will receive greater compensation for more complicated tickets "We think this gives the travel agent the opportunity to give the customer what the customer wants and in addition make more money" For example if a customer were to fly directly from Charlotte to Dallas Tex an agent could book the customer on Piedmont If Piedmont were to match the United commission plan the agent would gross $17 for the round trip But if the customer had no travel time restrictions the agent might suggest a United flight from Charlotte to Memphis with a connection with American Airlines for the Memphis-to-Dallas leg Such a trip would require four coupons and the agent would net $34 if the ticket were written on United ition make more if a customer from Char-Tex an agent stomer on Pied: were to match ission plan the ss $17 for the Tier had no trayNIS the agent United flight Memphis with a American would require ind the agent the ticket were Motor Speedway moving soon to new headquarters memo The offices have been in a 200- year-old farmhouse at the racetrack Charlotte Motor Speedway is the site of several major stock car races including the National 500 in October and the World 600 in May The company spent about $50- 000 to renovate the office which had been home to the Charlotte Truck Driving School two racing teams and Goodyear's racing tire By JANE HINKLE News Business Writer Charlotte Motor Speedway is preparing to move into a new corporate headquarters at the racetrack Beginning in mid-February the speedway's ticket bookkeeping accounting and administrative offices will move to a renovated building at the corner of US 29 and Morehead Road said Ben Montgomery speedway operations manager ties for Springs Mills Inc of Fort Mill SC The agency will develop an advertising program for use in the cities and towns in which Springs operates plants Springs is a major textile firm and also markets frozen foods ills Inc of Fort develop an ad-for use in the which Springs jor textile firm rozen foods olimimmimmummennome BarclaysAtnencan wins big contract Barclays AmericanLeasing of Charlotte has won a contract to supply up to $20 million in equipment lease financing and related services to a Maryland corporation Under the terms of the exclusive contract signed with Display Data Corp of Hunt Valley Md Barclays AmericanLeasing will purchase equipment from Display Data The equipment will subsequently be leased to Display Data's customers By BRADLEY WYATT News Business Writer United Airlines's plan to pay travel agents a flat $850 fee for each part of a ticket sold will be good for local travel agents the airline says United announced Monday that beginning April 15 it will pay agents $850 for each airline flight coupon on a United ticket regardless of destination flight class or the airline involved United made the move in anticipation of a ruling by the Civil Aeronautics Board that will ban the domestic airline industry's practice of paying a fixed commission to travel agents for booking tickets Since 1962 United and 32 other US airlines have paid agents a standard percentage now 7 percent of each fare The CAB voted Tuesday to require each airline to set its own compensation for the more than 17000 travel agents nationwide who write more than half of all domestic airline tickets United account executive Ken Gunter said the agents he's talked to like the idea "They know they are going to make more money on it" he said United paid 62 travel agencies in North and South Carolina $190479 in 1979 said Gunter Had the new plan been in effect the agencies would have grossed at least $244000 a 28 percent increase Systemwide United says it would have paid 19 percent more in fees but some airline officials said they doubted the figure "Their (United) average passenger trip is 1000 miles" said one airline spokesman who asked to not be identified "And much of it is direct service so they stand to make a savings" A percentage commission could mean more money for agents if the flights are longer and thus more expensive unless a number of connections are involved A flat fee could yield more for agents if short flights are involved Delta Airlines spokesman Bill Jackson said from Atlanta that his company is still studying the situation Travel agents provide more than 40 percent of Delta's revenues and a flat fee commission might not be acceptable "because we have one of the shortest haul averages of any major carrier" he said a Ben Douglas Jr focusing on real estate not furs Bank names ad agency Thompson Torchia 8c Dymond Inc of Charlotte has been selected to handle all advertising for Piedmont Bank and Trust Co of Davidson Piedmont now has 10 offices and assets of more than $80 million and is planning to open a branch office and operations center in downtown Charlotte Regulation to be topic A program on government regulation of business will be held at the Greater Charlotte Chamber of Commerce on Feb 18 at 8:30 am Congressman James Broyhill will speak Reservations are required and can be made by calling the chamber at 377-6911 between 9 am and 4:30 pm 1 agency 8c Dymond as been selected Iising for Pied-rust Co of Da-now has 10 of-more than 880 nning to open a operations cenharlotte be topic reg will be held at )tte Chamber of 18 at 8:30 am es Broyhill will ns are required by calling the 911 between 9 operations Montgomery said Montgomery who is an architect designed the renovation and contracted the construction work he said and performing those tasks in-house probably saved the speedway another $50000 In addition the speedway will spend about $20000 to install a modern telephone system Montgomery said Speedway workers will enjoy about a 50 percent increase in office space The renovated building has about 6000 square feet of office space and the farmhouse has about 4000 square feet of space he said The ticket office will move into the new quarters Feb 17 and the rest of the administrative offices will move by March 1 he said Goodyear and the DK Ulrich racing team will continue to occupy space in the building said Montgomery Buddy Baker's Win Inc racing team however has moved to its own building on Derita Road The renovation project is part of an $18 million expansion program The first phase of that project involved the construction of an additional 10000 seats in 1978 said Montgomery Over the next ten years the speedway plans to add another 40000 seats probably at the pace of 10000 new seats every two years he said The speedway's goal is to reach a seating capacity of 150000 he said Last month Charlotte Motor Speedway reported record revenues of $42 million for the fiscal year ended Oct 30 1979 an increase of 26 percent over 1978 revenues Net income was $448- 000 a 19 percent increase The Maryland company designs and manufactures computers and management information systems Barclays AmericanLeasing is a commerical and consumer leasing subsidiary of Barclays AmericanCorporation of Charlotte Shotwell gets Springs job Shotwell and Partners Inc of Charlotte will handle community relations advertising responsibill Ben Douglas Jr has switched his sights completely from the fur business to real estate and investments But Douglas Furs Inc at 1415 Elizabeth Ave will still be family owned and operated he said "Oh yes my father and the rest of the family are still involved" he said "I'm just concentrating on other things' Douglas' father is Ben Douglas former mayor of Charlotte He founded the company in October 1946 Ben Douglas Jr joined the business shortly after that Now that the younger Douglas has left the fur business he's concentrating on developing Douglas Ltd located at 1300 Morehead St The firm buys and manages income-producing properties has a residential real estate subsidiary and puts together investment partnerships Douglas already owns the Green Park Inn resort in Blowing Rock and he has a contract to buy the Holiday Inn in Banner Elk He said he is also negotiating to buy at least two other hotels in the North Carolina mountains but he declined to identify those properties The University of North Carolina graduate is also negotiating to buy a suburban Charlotte office building The deal should be closed in about a month The local Gallery of Homes franchise which has five offices in the Charlotte area was bought by Douglas about 10 months ago "Ten months ago Douglas Ltd had me and two people" he said "We're going to be up to 18 or 19 within a couple of weeks That's pretty good growth" earn almost like $lopoo Ln Ike Ruddick board re-elected earnings up l-'7 Historically the lincury of high interest belonged to those who could afford the high minimum deposits And those with less to invest had to settle for a lower interest rate nged to Vic those ate Wachovia 30-Month Savings Certificates III (fls PER ANNUM Pfl 0 NORMLE' It Takes $10000 To Get This Yield Effeetive on certificates issued through February 29 1980 0 0 E-Ofi 0 110 9 PER ANNUM YIELD Charlotte-based Ruddick Corp reviewed 1979 financial results and re-elected its board of directors at the company's annual meeting of shareholders this inorning Ruddick's holdings are American Efird Mills manufacturers of industrial sewing thread Harris-Teeter supermarkets in the Carolinas Georgia and Tennessee Jordan Business Forms which produces business forms and labels marketed in the Southeast and Ruddick Investment Co a venture capital subsidiary In the fiscal year ended Oct 1 1979 Ruddick earned $67 million or $167 a share on sales of $4252 million compared with $65 million or $161 a share on sales of $3886 million the previous year For the quarter ended Dec 31 1979 income was $18 million or 46 cents a share compared with $15 million or 39 tents a share in the same quarter the previous year Sales totaled $115 million compared with $104 last year This annual yield and rate on Six Month Money Market Certificates is available for S10000or more Term: Six months (26 weeks) Interest pod monthly quarterly or at maturity Federal regulations prohibit the compounding of interest on these certificates Rote effective from2 780 through21380 Annual effective yield if interest is left on deposit Payable monthly quarterly or at maturity $500 or more to open Rate guaranteed for the term of the certificate It Takes $500 To Gerrhis One Wachovia Savings Certificates 1 TI Off' 1 LI 110 11 11098 0 11109 Regional stocks 0 (Furnished by Bath HaislY Stuart) Midday listings: 985m INTEREST RATE Effective on certificates issued through February 13 1980 Payable monthly quarterly or at Maturity $10 000 or more to open Rate guaranteed for the term of the certificate Effective on certificates issued throu PayablE $10 00( for the 1 5 This effective annual yield on our Thirty Month Money Market Certificates is available for $500 or moreond results from daily compounding of the ann9p1 rote of: TI oo400 Last 734 24313 1612 9121 12 68 133le 4834 137e 17418 14 7 1812 4-343 1814 Chng UN UN -14 14 UN UN UN UN 38 18 High Low Aeronca 778 758 Cannon Duke 16I'2 164i2 EastrnAir 9I8 918 Pam Doi 12 12 IBM 68I4 68 NCNB 134 1338 Nucor 49 4834 PicNPay 1378 1378 PdGas 173t 1738 Rexham 14 14 Ruddick SpesMils 18I2 1814 Stanwood Wachvia 1814 18I4 Rate effective fromNI 01'80 through02129 80 Deposits insured by the Federal Deposit Insurance Corporation for up to $40000 Federal regulations require a substantial interest penalty for early withdrawal of these deposits and prohibit the compounding of interest during the term of 6-Month Hr'''-- )-------- :) t)of glieX1' ro0'41'st': )tk1 4 -I 4 4 1r if i 2 gt 11 '1 4 kt F)A il 1 4 1 Savings Certificates Over-The-Counter Bid Asked Cato Corp 1114 1214 Coca-Cola Cons 1412 1512 Engraph 834 914 lstUnCorp 1414 1434 Ivey 2034 2112 Lance 1934 2012 PCA 834 914 IstUnCorP Ivey Lance PCA The Charlotte News Regional Stock Index But now at NCNB there's a way for $500 deposits to yield almost the same high interest as $10000 deposits It's our new 30 month Money Market Certificate And with interest compounded daily your annual yield will be almost the same as you'd receive with i Six Month Money Market Certificate For an exact comparison check the rates and yields listed aboveThen come by or call us up At NCNB we want to help you earn the highest interest mnclcmin possibleWhether you are starting M4 with $500 or S10000 Federal regulations require a substantial interest penalty for wily withdrawal Each depositor insured to $40000 by FDIC C-27 39125 Talk to alVachovia Personal Banker: Today achovia VIVE OM 4lair bet WWII Dow Jones industrial Avo 88541 358 7.