The Los Angeles Times from Los Angeles, California • 52

8 Part IVMonday April 18 1983 1106 AngetC6 Oi 11106 Wall Street Special Advertising Supplement LIE2UM e---- -'T i ''''I i '''-4 I 1 i 11 1 1 1 ILi LAwwrJLrLoi ffirsciiiionaq yr i ir )if '44 '1 110- -0- Pasadena Convention Center captures city's charm Continued from First Page threat The drug has been successfully introduced in many foreign markets and is expected to receive approval here by mid-1983 Hoffmann-LaRoche is to market the drug in the United States Zantac now has a 20 share of the ulcer drug market in both the United Kingdom and West Germany Because of their concern over the future of Tagamet the Becker analysts have concluded that SmithKline will underperform the drug group generally They have revised their earnings estimate for the company to $610 a share for 1983 a trim of 15 cents a share SmithKline earned $551 in 1982 A second negative in the analysts' decision: The company's tax rate is rising a point to 33 Some other analysts are anticipating a growth rate of 17 a year so the Becker men are unusually bearish They write: "Our revised earnings growth rate for the next two years of 9 is far below SmithKline Beckman's five-year historic rate of about 30" Therefore the analysts say the company's price-earnings ratio on their $610 a share earnings estimate-11 not low A number of leading drug companies carry PEs of 15 or higher Top drug companies have generally commanded PEs above the market The Standard Poor's 500-stock index averages a PE of 12 Marion Labs which has high hopes for Carafate and a new drug for angina called Cardizem carries a price-earnings ratio of more than 30 AH Robins which has 3000 suits against it because of consumer problems with a birth control device it has withdrawn from the market carries a PIE of Reglan The Value Line Investment Survey would disagree with much of the Becker analysis of Tagamet Value Line expects SmithKline earnings of $640 a share in 1983 though it acknowledges that a weak economy and the strong dollar will adversely affect earnings SmithKline earns substantial sums abroad and weaker foreign currencies buy fewer dollars for repatriation in the United States There is one factor everyone will be keeping in mind If it should become clear that Tagamet is beginning to reach maturity there may well be an institutional selling spree If the news is grim SmithKline shares could drop to a lower level very quickly Robert Metz is a syndicated columnist based in New York ings and banquets for up to 1000 people with 13 meeting rooms many of which are decorated in Old World style The Pasadena Hilton with 270 rooms provides 30- 000-square-feet of conference space which can be arranged into various sized public rooms its grand ballroom accommodates up to 1000 The 321-room Holiday Inn can accommodate 2500 persons in a variety of meeting and banquet configurations Shopping too is diversified Pasadena's Lake Avenue is lined with smart shops the new Plaza Pasadena Mall has more retailers Nearby Old Town has antiques and collectibles Traveling to and around Pasadena is no problem The city with a population of 120000 is served by three airports two bus lines three freeways and an AMTRAK station For more detailed information on Pasadena's convention and meeting facilities write to the Pasadena Convention Visitors Bureau 300 Green St Pasadena 91101 tie theater An underground concourse connects the conference building with the exhibition building The latter a 32- 000-square-foot column-free structure is designed for exhibits meetings banquets sporting or entertainment events An attached 4000-square-foot lobby is convenient for receptions registration or show booths The complex is enhanced by two plazas built to honor Pasadena's two sister cities one Japanese one German The Mishima Plaza features a central amphitheater with a park-style setting for gatherings of 300 and three smaller satellite terraces for groups up to 30 The Ludwigshafen Plaza landscaped with a central courtyard and fountain is another gathering place The center is served by a 900-car subterranean garage There are three major hotels nearby: the Huntington-Sheraton with 23 acres of landscaped gardens the centrally located Pasadena Hilton and the Holiday Inn which shares the grounds of the Convention Center complex The 320-room Huntington-Sheraton handles meet Pasadena's Convention Center complex reflects the old and the new in the city Its centerpiece is the Pasadena Civic Auditorium situated between a modern multi-purpose conference building and a spacious exhibition building The auditoriumtheater was renovated recently at a cost of $500000 preserving the best of its Italian Renaissance-style decor while modernizing its sound system and projection facilities and retaining its full-size theater pipe organ In addition to seating 2965 persons the auditorium's Gold Room situated above the lobby provides meeting space for 300 persons and has dining facilities for more than 200 The theaterauditorium can manage all types of productions from single concerts to such nationally televised presentations as the Emmy Awards At the rear of this structure is a 17000-square-foot ice rink The center's 30000-square-foot conference building meets the needs for a variety of functions with two levels and multi-purpose rooms including a lower level lit CASINOS: Crunch Continued from Second Page from 17 filed a default notice as part of foreclosure proceedings Similar troubles at the Dunes were a major factor in the recent state licensing of Clifford and Stuart Perlman to buy the hotel-casino and save it from what was pictured as a dire threat of closure In other economic circumstances the regulators indicated they might have been less willing to vote for the Perlmans who were forced out of the top posts in Caesars World Inc by New Jersey's casino commission in October 1981 because of business associations with reputed associates of the late Meyer Lansky the underworld gambling czar Aside from the immediate benefit of an infusion of Perlman millions into the Dunes a procession of Nevada casino operators testified that they would welcome more of the business that Clifford Perlman brought to the entire Strip when he staged innovative sports events at Caesars Palace during the 1970s The Stardust whose checkered past includes one of the biggest skimming scandals in the city's history in the mid-1970s is another casino with a huge debt to the Teamsters pension fund The fund's asset managers negotiating with current owners Allen Sachs and Herbert Tobman have complained that the owners breached their loan agreement by transferring millions of dollars of Stardust revenues to the Sundance another casino operated by Sachs and Tobman So far no foreclosure proceedings have been filed against the Stardust The situation is further complicated by state and federal investigations of another suspected skimming operation at the Stardust and state casino officials have indicated they may seek revocation of 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Hotel Scandinavia courtesy of the Copenhagen Tourist Association: This includes a free meal and airport transfers It's all part of the SAS dedication to makint travel more comfortable and convenient for the business traveler Because we know there's more to travel than flying Call your travel agent corporate travel department or SAS CONNECTING FLIGHTS FROM COPENHAGEN Aalborg Lulea Aarhus Lyon Aberdeen Madrid Alta Malmo Amsterdam Manchester Athens Marseille Barcelona Milan Bardufoss Moscow Belgrade Munich Bergen Narssarssuak Bodo Nice Brussels Norrkoping Budapest Oslo Dublin Ostersund Dusseldorf Paris Evenes Rome Frankfurt Ronneby Geneva Sondra Stromfjord Glasgow Stavanger Gothenburg Stockholm Hamburg Stuttgart Hanover Sundsvall Haugesund Svalbard Helsinki Thule Tromso Kalmar Trondheim Kirkenes Vagar Kiruna Vasteras Kristiansand Lakselv Vienna Lisbon Zagreb London Zurich Or beat the crowd by flying SAS to Kastrup Airport in Copenhagen SAS is the most punctual airline in Europe And Kastrup may be one of the best-kept secrets among business travelers It's the ideal place to connect to more than 60 cities throughout Europe Between flights First Business Class passengers can visit the Seanorama Business Lounge Sit back and watch a classic movie Or if you have work to do there's a conference room and telex machine If you want to stay overnight in Copenhagen before continuing your journey you can get a free night's accommodation at the deluxe ffiC4d07 S(44'DP114114111 41114171 Asi1A14 I Fri B44464ss 10 pas4icurrs 4finning on SAS 141 11114111144111 1983 Scandinavian Airline's of North America Inc.