The Modesto Bee from Modesto, California • 21

MARKET NEXCLOSE OW 30 933308 1880 NYSE 58300 196 500 119233 546 NASDAQ 201644 3123 The Modesto Bee Exxon Mobil talk mega-merger Potential petroleum Oil stocks help grease a rising market Page C-4 US company of any kind with combined revenue of $203 billion last year last thing either party would have considered is the ef feet on the consumer but as it happens pretty said Alan Marshall an energy analyst with Robert Fleming Securities in London Oil prices are hovering near 12-year lows hammered by a plentiful global supply and an Asian economic crisis that has crippled demand from that region The Energy Department predicts that prices will remain See Page C-4 Merger By Eric Quinones The Associated Press NEW YORK If Exxon and Mobil merge to form the biggest oil company expect higher prices at the pump Even a combination of the two biggest oil and gas companies have the power to reverse slumping prices caused by a worldwide oil glut But while drivers may not be affected an Exxon-Mobil marriage could leave as many as 20000 employees out of work as the companies seek to slash costs according to one analyst Exxon Corp and Mobil Corp announced Friday they are in merger talks confirming reports that surfaced this week At a price near current value of $67 billion it would be the richest merger ever A combined Exxon-Mobil would vault past Royal Dutch-Shell Group of Cos as the biggest energy company with 47000 gas stations and operations in more than 100 countries It also would surpass General Motors Corp as the largest EJgON 1997 sales: $1 203 billion 1997 Net income: $85 billion Headquarters: Irving Texas Employees: 80000 Source: Hoover's A piece of Sacramento nabs station Modesto still to have news bureau By Stuart Gordon Bee staff writer Univision 19 the only Span-ish-language television station broadcasting around the clock in the region is moving its offices from Modesto to a new high-tech facility in Sacramento The move brings Univision or KUVS closer to the center of one of the fastest-growing Hispanic media markets in the nation move from KUVS offices in Modesto reflects the steady growth of the Hispanic population in the greater Sacramento area which is now the 15th largest Hispanic market nationally and the third fastest-growing market in Univision spokeswoman Stephanie Clarke said Friday In the Sacramento region which also includes Modesto and Stockton the Hispanic population has mushroomed by 37 percent from 1990 through 1997 By 2002 one out of every five consumers in the region will be Hispanic according to the Mar-ketQuest research group believe that to better serve our community and to continue to improve our news product the move to the state capital along with the upgrade in technology and equipment (is necessary) and will help us accomplish this said Jorge Delgado KUVS general manager The move does not mean Armando Becerra left gets ready to place a strip of gauze over a layer of latex painted onto a large stone in front of the gardens" on McHenry Avenue His brother Salvador Becerra right the owner of Nature the rock Rock in Modesto uses the castings they are making to form gunite rocks for use as waterfalls in landscaping and swimming pools Nature Rock employee Paul Vose in background helps make the castings last week Mobil 1997 sales: $584 billion Petroleum operations Chemical 5 Petroleum exploration and production 11 1997 Net Income: $33 billion Headquarters: Fairfax Va Employees: 42700 The Associated Press tems Corp may allow introduction of the new products faster than competitors especially the company likely to become its biggest foe Microsoft AOL has given access to the Internet to millions of people but almost all through personal computers Now PC sales are slowing even though less than half of US homes own computers That limits the ability of businesses like AOL to sign up new subscribers and sell more advertising which are its biggest revenue sources short-term goal is to dominate the main existing Internet sites where people get information and buy goods and services He wants to do that in part by giving the 14 million subscribers of proprietary online service easy links to Net Dollar up on the yen NEW YORK -The dollar surged to its highest level against the yen in more than seven weeks Friday as finance minister said he would step down and as fresh signs emerged that economy is not about to rebound soon A dollar bought 12307 yen Friday in New York This marks the high against the Yen since Oct 6 when it closed at 13085 yen Auto loan rates steady NEW YORK Rates on four-year fixed-rate auto loans were 878 percent unchanged from a week ago according to a weekly index released by BanxQuote Inc a New York-based financial information company The average rate on three-year auto loans was also little changed at 875 percent while the rate on five-year loans was little changed at 886 percent Commodities in focus Soybean and com futures advanced Friday on the Chicago Board of Trade after the government reported unexpectedly strong weekly export sales Wheat meat and livestock futures all finished mostly lower Commodity markets in New York were closed for the Thanksgiving holiday weekend Export seminar set A seminar on programs available to finance exports will be held Dec 1 1 in Modesto Sponsored by the Merced Center for International Trade i Development the city of Modesto and Valley Sierra Small Business Development Center the seminar is from 8:30 am to noon in the Magnolia Room of the DoubleTree Hotel Cost of the workshop is $25 and advance registration is required To register call the Merced Center at (800) 355-5892 or (209) 384-5892 Rail freight rates TACOMA Wash Higher rail freight rates are causing the ports of Seattle and Tacoma to lose business to Southern California shippers and port officials say The News Tribune of Tacoma reported Friday that several sources confirmed that shipping a cargo container from Puget Sound to the Midwest can cost $100 more than from ports at Los Angeles or Long Beach Rates to the East Coast can be as much as $400 higher Adviser on at Boeing SEATTLE The former top federal labor mediator is on board at Boeing to help smooth the way for a new contract with the Machinists union John Calhoun Wells who resigned recently as director of the Federal Mediation and Conciliation Service joined Boeing as a consultant Boeing and the machinists begin bargaining next summer to replace the current contract which expires Sept 1 Another air alliance? KLM Royal Dutch Airlines and Alitalia Airlines the flag carriers for their respective countries have signed a 10-year alliance that results in the two merging passenger and cargo operations in separate ventures The deal must win approval from antitrust officials of the EU and the US If approved the alliance will compete with United Star Alliance Settlement over yuck The ruckus over the yuck has ended at Kimberly-Clark Corp The Irving Texas-based paper products giant agreed to stop using the phrase yuck stops in ads for its tissue paper after a tiny cleaning products company sued Kimberly-Clark in federal court alleging trademark infringement Finazzle Corp USA President Pete Finazzo said he reluctantly filed suit in federal court have people thinking of in a tissue after a sneeze every time thy see or hear our Christian center delayed downtown UNIVISION 19 SACRAMENTO-STOCKTON-MODESTO KUVS intends to abandon the Modesto market he added will continue to operate a news bureau from Modesto in order to cover the news as it happens in all our coverage areas The communities of Modesto and Stockton are an integral part of he said are not moving away from these areas but are moving to be able to provide a better service to our viewing Univision in 1997 purchased its affiliate KCSO Channel 19 from Sainte Limited in Modesto for a reported $42 million Dec 7 will be the first day KUVS news broadcasts will be aired from the new office and studio at 1710 Arden Way in Sacramento Clarke said KUVS the only full-power television station broadcasting 24 hours a day seven days a week exclusively in Spanish The stations is owned and operated by the Univision Television Group a division of Univision Communications Inc the leading Spanish-language television broadcaster in the nation Univision airs 20 of the top national programs as ranked by the Nielsen Hispanic Television Index sold out our Willey said The project billed as the largest Christian bookstore when completed has drawn the attention of celebrities like actor Richard Kiel and Christian performers and authors like Josh McDowell and Steven Curtis Chapman Investors from the San Joaquin Valley also are involved Kiel McDowell Willey and Modesto businessman Alan Boone serve as managing members of the project Theopolis will be operated as a limited liability company a hybrid between a partnership and corporation Gibbs said Local restaurateur Dan Costa owner of restaurant and Food Products also is an investor and has agreed to oversee development of a full-service restaurant as part of Theopolis The project calls for a 42000-square-foot facility that includes a bookstore restaurant cafe outdoor patio and theater area for staging ministry meetings live musical performances and presentation by speakers not just a bookstore It will be a unique blend of activities under one Willey said really nothing else like Theopolis will be housed in the old Mayflower moving van warehouse at 10th and streets Renovations are under way on the 30000-square-foot building AOL sees new Net gadgets Netscape Sun alliances could speed technology development By Stuart Gordon Bee staff writer Nothing short of a miracle would be needed for Theopolis the giant Christian bookstore restaurant and cafe planned for downtown Modesto to meet its original timetable of a December grand opening The backers said this week set their sights on a May or June opening instead we pulled that December date out of the hat when we first started this project more than a year said project spokesman Ray Willey a Modesto businessman and commercial property owner then we got into the reality of engineering and design The scope of the project has grown and taking longer to get all the approvals than we Money also is a factor in the delay The project originally estimated at $57 million now is expected to cost $67 million is a contributing said Blake Gibbs general manager of Theopolis working very hard to bring in investors and get it fully subscribed so we have all the money we need to complete the entire Theopolis is expected to draw 150 to 200 investors from throughout the United States Gibbs said very close to meeting our goal We anticipate that by the end bf the year we will have popular Netcenter site a portal to services and information geared toward businesses Together and sites reach a staggering 70 percent of all Americans who access the Internet according to Net-Ratings a research firm But the longer-term aspects are more tantalizing Today Navigator browser lets users of PCs view and retrieve Internet information Should deal be completed AOL will work with roughly 1000 software programmers to help tailor future versions of Internet software that work with all sorts of electronics geai In addition AOL wants to eventually customize what it transmits to subscribers Instead See Page C-4 Net By David Kalish The Associated Press NEW YORK If America Online Chairman Steve Case delivers on his promises his merger with Netscape could lead to brand new ways of navigating the Internet One of the most ambitious goals of America Online $42 billion takeover of Netscape Communications Corp is to speed creation of a slew of Net-surfing gadgets including wireless hand-held computers smart phones with screens even a flat panel that sticks to your refrigerator door Similar promises for futuristic gizmos have been made before and so far few have become reality But AOL is hoping that its purchase of browser pioneer Netscape and an alliance with corrfymter maker Sun Microsys.