The Charlotte Observer from Charlotte, North Carolina on June 11, 1994 · 52
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The Charlotte Observer from Charlotte, North Carolina · 52

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Location:
Charlotte, North Carolina
Issue Date:
Saturday, June 11, 1994
Page:
52
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60 THE CHARLOTTE OBSERVER Saturday June 11 1994 Prices fail Charlotte in running for 2 new TV stations on energy and food Wholesale Continued from page ID after the wholesale price report was released but then recovered Stock prices rallied Some analysts said the Federal Reserve which has boosted shortterm interest rates four times this year to squelch inflation and slow economic growth likely will find the rising core rate disturbing and may send rates higher in August “On the surface inflationary pressure is subdued But beneath the surface commodity pnees are rising faster for the last six to 10 months” said Wall Street economist Eugene Sherman of M A Schapiro & Co “There is emerging scarcity in the labor market and among producers in terms of capacity availability Normally all of these things precede price inflation" Others disagreed vehemently "There is no compelling reason for the Fed to do anything Things are settling down" said Donald Ratajczak who heads an economic forecasting project at Georgia State University in Atlanta Analysts and investors now are awaiting Wednesday’s Consumer Price Index report for May which is expected to show a small increase Meanwhile a consensus forecast of 52 prominent analysts surveyed in early June by Blue Chip Economic Indicators predicted consumer price rises of just 27 this year unchanged from the 1993 inflation rate The group said it foresees improved productivity because of pressures of foreign competition corporate restructuring and modernizing It also predicted that prices will be restrained by the Fed’s interest-rate increases Inflation has been mild for more than three years the best stretch in three decades Last year’s 27 rise followed a 29 advance in 1992 and a 31 increase in 1991 Computer publisher up for sale Associated Press NEW YORK — Ziff Communications Co is being put up for sale the family that controls the computer publishing powerhouse announced Friday The Ziff family reportedly hopes its publishing and electronic information business will fetch a price of $2 billion to $3 billion The publishing company is being sold to free the three Ziff brothers who control the family’s financial interests to concentrate on their investment business The investment banker Lazard Freres Inc was hired to find a buyer The privately-held Ziff Communications generates annual revenue of about $1 billion and is the nation’s largest publisher of computer magazines Its flagship property is PC Magazine the largest computer magazine with circulation of about 1 million It publishes seven other magazines in the United States and has disclosed plans for three more Ziff Communications employs more than 4300 people in four main lines of business Its Ziff-Davis Publishing Co is the company conerstone and provides information about computer products through magazines newspapers newsletters books and other media FOR MOUNTAIN PROPERTIES OWNERS ONLY! If you are interested in SELLING or RENTING your mountain property don’t miss The Charlotte Observer’s advertising feature MOUNTAIN PROPERTIES "For Sale or Rent’’ to run in the special Travel Section "The Mountains” Sunday June 26th This a great opportunity to reach mountain lovers eager for prices facts and information on properties for sale as well as great rental rates on time-shares lots cabins condos townhomes houses etc For rates and space reservations call Barbara Billings at (704) 358-5384 or Jane Kunz at (704) 358-5383 or call us toll free 1-800-532-5348 ext 5384 or 5383 DEADLINE: Friday June 17th sans® (the Charlotte (Dbscrrcr Family Continued from page 1 D Family Fifty Five will move from Indianapolis to Charlotte to become general manager of the new station WJZY general manager Mark Conrad said Capitol will try to program the new station to appeal to families and women WJZY with a heavy schedule of action movies arid Charlotte Hornets games attracts a mostly male audience "It'll be a station similar to WJZY except that it’ll be softer" said Conrad Though much of the programming hasn't yet been lined up Conrad said it will likely include kids shows reruns of sitcoms hourlong action-adventure shows like “Hawaii Five-O” family movies and light comedies starnng the likes of Abbott and Costello Will Channel 55 be carried on cable? It’s likely that the station will have to be available on cable under federal "must carry" rules that require certain local broad- i We did approach them months ago about (carrying) a 10 o’clock news produced by WBTV They were not interested in just a 1 0 o’clock news They wanted to LM A more air time” — John Hutchinson WBTV general manager cast stations to be picked up "It’s certainly likely that they’ll fall into the ‘must carry’ rules” said Cablevision of Charlotte spokeswoman Pam Youngblood Capitol Broadcasting was only one of several broadcasting com panies that approached Family Fifty-Five about leasing air time One of them was Jefferson-Pilot owner of Charlotte’s WBTV (channel 3) "We did approach them months ago aboujt (carrying) a 10 o’clock news produced by WBTV" said WBTV general manager John Hutchinson “They were not interested in just a 10 o’clock news They wanted to LMA more air time" Last month WBTV reached an agreement with WJZY to lease its 10 pm time period for a newscast WSOC is expected to follow soon with a 10 pm newscast on Fox affiliate WCCB (channel 18) WFVT which is expected to go on the air in the fall would be the sixth commercial station in Charlotte's 22-county market Its antennae will occupy space on WJZY's tower Obseiver Business fchr Charlotte ©terror Insightful ' i'uitmSepic(n touch Make It A Quick Sale 377-5555 'SECTION r f c i' I j L ’1 r’ “ 1 1 rs U f i4 ' j ”f 7 O i £ n ! 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