Fort Worth Star-Telegram from Fort Worth, Texas • 49

Friday October 17 1997 Star-Telegram Section Page 3 Economy Retail sales since the expansion began in early 1991 he added A limited Consumer Price Index report for Fort Worth-Dallas showed grocery store food prices up 07 percent in September and up 18 percent for the previous 12 months Only food and energy prices are reported monthly for the Metroplex The full index is reported every two months Metroplex energy prices rose a sharp 83 percent in September but were up only 03 percent for the year Electricity rates showed a big seasonal leap of 208 percent for the month but remained down 01 percent for the year Utility gas prices were up 43 percent in September but down 42 percent for the 12 months Staff writer Worth Wren Jr price increases But to build a credible case for Fed action particularly in the eyes of congressional critics of the central bank Greenspan probably needs more evidence that wage increases are adding to inflationary pressures or that inflation itself is on the rise several analysts said "The current price performance is unprecedented: Inflation has never been so low so far into an expansion" said Bruce Steinberg chief economist at Merrill Lynch Co in New York "Given that performance we expect the Fed to remain on hold "There is literally no inflation for consumer goods" Steinberg noted "The CPI for services other than energy also edged up just 02 percent and was up 29 percent from a year ago" the smallest increase MCI gets consent to hear mission yesterday afternoon British Telecom and MCI said: "In view of the recent WorldCom and GTE offers we hereby give consent to each other to conduct discussions with WorldCom and GTE relating to their respective acquisitionproposals" The wording seemed to support suggestions that GTE was interested in talking to BT about joining its bid for MCI GTE President Kent Foster said Wednesday that it wanted BT to sit at the table with it but declined to elaborate BT currently has a 20 percent stake in MCI that helps the companies cooperate in global telecommunications ventures A BT spokesman refused to comment Despite being freed to sit down with GTE and WorldCom MCI's contract with British Telecom would still penalize MCI $450 million if it recommends to its shareholders to adopt a competing offer -The Associated Press NEW YORK Hammered by two competing offers for its proposed merger partner British Telecom yesterday gave MCI Communications permission to talk with BT's rivals MCI the nation's second-largest long-distance phone company intends to meet separately as early as next week with GTE Corp and WorldCom executives and advisers about their offers people close to MCI said The British Telecommunications offer for MCI has been widely viewed as dead after WorldCom the nation's fourth-largest long-distance phone company outbid BT by $9 billion two weeks ago WorldCom offered $30 billion in stock The last straw came Wednesday when GTE offered $28 billion in cash for MCI But BT's contract with MCI which was nearing completion until the rival offers emerged had restricted MCI from talking with other suitors In a filing with the Securities and Exchange Com $2155 Total retail sales in billions of dollars Seasonally adjusted $215 210 i 205 ii 185 iiiiiiiii iniiim AMJJASONO JFMAMJJAS 1996 1997 SOURCE: Department of Commerce APStar-Telegram contributed to this report which contains material from Bloomberg News new offers "We don't think we have any problem there" said George Lieb GTE's head of investor relations "It is much more pro-competitive than anything else" One area where WorldCom's proposal could raise concerns is in Internet access because the combined company would control the equipment for transmitting about 60 percent of the nation's Internet traffic WorldCom has struck a series of deals including a recent three-way transaction with online services CompuServe and America Online that have boosted its Internet presence for $482 million or $1950 a share after Hicks Muse offered $1875 a share LIN said yesterday that net income rose 2 percent to $994 million or 32 cents a share from $975 million or 32 cents a share a year ago Revenue rose 46 percent to $719 million Staff writer Leigh Strope contributed to this report Ways to modernize Pentagon budgeting The use of information technology Acquisition reform has been a hot topic among defense contractors The industry has already experienced several Pentagon changes aimed at relaxing its strict code of specifications Changes have included areas from reducing production line over- sight to elirninating paperwork This summer Lockheed Mar-1' tin's Fort Worth operations handed the Pentagon a check for $16 million It represented savings from itss Single Process Initiative or SPI a program intended to replace tary specifications with less costly commercial specifications "That represented a nice return fnr cimnliftino- the t-MWfee cfliH Chuck Burke brl program manager for Lockheed "The government and the contractor are now in the boat together The old adversarial relationship ig gone We can't sit out here and say 'Ha-ha Your half of the boat is about to sink first'" ii Morpridw the Cism chairman said the Pentagon could benefit from practices used by commercial companies since the 1980s when mergers forced hundreds of major firms to restructure He said the Defense Department must learn to do less by building partnerships with private firms "At Cisco Systems we have an-' unwritten rule that if we can't do something at the same cost as ai outside company we don't do it" he sniH "We focus on our core capabilities We have a long list of things we don't do so we can focus on the things that we do well" 1996 were women Vv Blakey who was based at Conu nental's Newark hub testified she repeatedly complained to her visors about pornographic pictures in cockpits as well as other affronts such as being repeatedly locked out of the Continental computer system Among the indignities she saiaV male pilots scrawled her name on- sexually graphic photos The pictures persisted despite Blakey's complaints and company bulletins asserting that such images i are noi auoweu Continental maintained that Blakey's complaints began only after her schedule changed in 1991 for reasons of seniority and after the airline raised concerns about how- many days of work she missed Continental lawyer Robert Bern-' stein said the airline's managers and workers never made rude or inap--propriate comments to Blakey Hei said that other female pilots at the airline had "positive" experiences'' and that the lewd photos were hid- den in "discreet" places Rltitev testified that in 1QQO shew became the first woman at Continental Airlines and possibly the nation to attain the rank of cap- lam ui an rxuuua a iuu- body jet that carries up to 272 passengers Dial 332-3333 or call tollfree within Texas 1-800-222-3978 Business N875 Opportunity Business Notices Defense From Page 1 Cohen said 'We have in fact too much tail and not enough tooth What we need to do is to focus upon the fact that we have too much infrastructure for our force structure We have a purchasing apparatus that's larger than our purchasing power We have too many in-house functions that can better be performed out of house" The commission has begun a two-year study to recommend business solutions aimed at saving billions for the Defense Department Among its members are corporate executives known for boosting productivity in their own organizations including Fred Smith chairman president and chief executive officer of Federal Express and John Morgridge chairman of Cisco Systems the data networking giant that has become a Wall Street darling The commission is headed by former New Hampshire Sen Warren Rudman Other members include former Defense Secretary William Perry Cohen's predecessor in the Clinton administration and Frank Carlucci defense secretary under President Reagan Carlucci now heads an investment group that specializes in defense industry consolidations The group says it will study: More base closures Privatization of Pentagon administration Overhaul of the acquisition process or the way the Pentagon buys things Cutting the staff of the defense secretary Pilots From Page 1 pit for the next crew: lewd pictures slipped into flight manuals hidden behind equipment panels and pasted in drawers "We're disappointed in the verdict and we're going to vigorously pursue an appeal" said Continental's top labor lawyer Robin Curtis Blakey's lawyers presented evidence that she has lost about $400000 in pay since going on unpaid leave in 1993 after filing her lawsuit They did not ask for a specific amount in punitive damages The jury said Blakey should get $495000 for lost pay plus $500000 for emotional distress pain and suffering But it deducted $120000 finding Blakey could have had handled things differently Blakey said she was ready to return to work but acknowledged being a bit apprehensive She added that Continental has trained its pilots to halt the practice of passing pornography "It never would have occurred if I had not filed a lawsuit" she said Less than 3 percent or 3346 of the nation's 127486 airline pilots in To Advertise Property N861 Commercial N862 Property LOOKING FOR self-storage sites Call Charlie Anderson 1-800 937-8673 N862 Business Opportunity FOR Sales lease or trade Stripe shopping center Dallas area Keist and Cockrell Hill City tax value $500 OOO need $300000 2O0OSF RESTAURANT loc in for equip ask for Earn hrnite prov "STORE located $1 89000 From Page 1 worsening of inflation In congressional testimony last week Fed Chairman Alan Greenspan alerted financial markets that he is concerned that the economy and the demand for labor are growing at an unsustainably rapid pace If they don't slow more inflation will be the inevitable result he said In a separate report yesterday the Labor Department said the number of US workers applying for state unemployment benefits remained at a low level underscoring concerns that the nation's strong job market may eventually reignite Telephone From Page 1 publicly blasted the proposal saying it would stifle competition in areas that both companies serve GTE which offers a unique hybrid of local- and long-distance services doesn't face the same restrictions that shackle the nation's five regional Baby Bells which are barred from getting into the longdistance business until they open their local-phone markets to rivals This year the FCC has rejected proposals to enter the long-distance business by SBC and Ameritech Corp which sells local phone service in the Midwest BellSouth is preparing a third proposal to sell long-distance service The rules were intended to prevent the abuses of monopoly power that resulted in the breakup of Corp fracturing it into the Baby Bells and the long-distance Ma Bell Because they are hamstrung several regional phone companies signaled their opposition to a GTE-MCI marriage yesterday "We've reacted with alarm" said Sid Boren BellSouth's executive vice president in charge of corporate planning and development "It's a threat to us and we've also reacted with some indignation that another company situated very much like we are could put together some services including long distance which we cannot do" Still the Baby Bells insist that they can go it alone in breaking into the long-distance market and that they don't need to merge with a Bid From Page 1 has a deadline next year to either buy the rest or put its stake up for sale didn't return calls seeking comment Providence-based LIN operates eight network-affiliated stations Its crown jewel is KXAS-TV Channel 5 based in Fort Worth-Dallas which has cash flow margins of about 60 percent among the industry's highest KXAS General Manager Doug Adams said yesterday that he and other company officials are waiting to see what develops "There's not much to say other than we obviously have a lot of people interested in it" Adams said KXAS has been mentioned as a strong asset during talks of a LIN sale which is flattering to station employees he said "The station has been talked about as one of the most successful stations in the country" Adams said "People here have worked hard and done a good job so it's a nice compliment to them" Hicks Muse went ahead yester Fraud From Page 1 how to prevent fraud from occurring in the first place" Rodden who is president of Southwestern Bell's Trinity Club Pioneers volunteer group said seniors are vulnerable because they tend to be "more compassionate and they're not in a hurry and they're lonely A lot of times a telemarketer may be the only phone call they get that day "These guys are very shrewd and very smart" Rodden said "Triey don't stay in bne place Business to Business Some analysts suggested that a GTE deal could face more antitrust concerns than WorldCom's rival $30 billion stock offer for MCI GTE would create a company with nationwide strength in phone services sold to consumers A combined WorldCom-MCI would be stronger in business telecommunications services "The average guy on the street would see much more of an effect" from a GTE-MCI deal said Kevin Gooley an analyst with Standard Poor's GTE insisted that its deal would not raise regulators' eyebrows because MCI has not moved to compete for local telephone customers in most of the towns and cities GTE serves ny" said David Carr president and chief investment officer of Oak Value Capital Management which owned about 538000 shares at the end of June Oak Value one of LIN's largest institutional holders planned to vote against the transaction he said The investment firm values LIN at around $55 a share Raycom's offer is 12 to 13 times cash flow more in line with recent transactions involving TV and radio stations analysts said The new offer throws a wrench into Hicks Muse's aggressive push into television and radio broadcasting that includes a $21 billion agreement to buy SEX Broadcasting "This is an asset Hicks Muse really wants" Vickers said Representatives of Dallas-based Hicks Muse couldn't be reached immediately to comment Hicks Muse in August proposed to pay $630 million in cash for LIN and assume $12 billion in debt The multiple of 12 times broadcast cash flow was low compared with other recent purchases It's the second time in three months that somebody else made a higher bid for something Hicks Muse wanted In July Nortek Inc agreed to buy Ply Gem Industries of the American Association of Retired Persons said that although most telemarketing firms are legitimate the FBI suspects that about 10 percent may be fraudulent Morales said illegal telemarketers operate out of rooms with multiple phone lines using scripted sales pitches and lists of prospective victims Many people on the victim lists are targeted repeatedly he said particularly if they have been successfully victimized before The reverse boiler-room effort is in Austin now but will be moving around the state a Southwestern Bell spokewoman said long-distance company Unlike long-distance carriers which must build new networks or lease lines from local companies to break into the local markets local companies can assemble long-distance service from existing networks "Buying a long-distance company probably isn't the first option" said Eric Rabe a spokesman for Bell Atlantic which bought Nynex in a $256 billion merger in August that gave the combined company local service in 13 Northeast states and in Washington "It's much more likely the regional companies will form alliances do contracts and other kinds of arrangements with longdistance carriers" he said day with plans to enter into a partnership with General Electric Co's NBC network that could make it difficult for any other company to take over LIN The partnership would acquire a majority of KXAS-TV in Dallas and NBC's San Diego station More significantly NBC said any changes in LIN's ownership will need NBC's consent for affiliate agreements in Dallas Norfolk Va and Austin to remain in effect "They are politely reminding people they are NBC and they're sticking their foot in the door" Miller said LIN officials said that they received the bid yesterday and that due diligence could take one to two weeks Prices for broadcast and cable TV channels have soared because of the rush to provide content to cable systems LIN is especially attractive because it has margins of almost 50 percent and stations affiliated with each of the three major networks in cities including Indianapolis Buffalo NY and Austin It's the 22nd-largest US broadcaster Some shareholders had sued LIN arguing that the Hicks Muse offer was too low "They were stealing this compa where they think they can get caught" Victims lured by attractive prizes and so-called free trips can "lose everything" she said The coalition offered several suggestions to senior citizens: Don't be fooled by official-sounding names Just say "No thanks" and hang up 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