The Bradenton Herald from Bradenton, Florida • 15

i 1 1 -w i J1 1 I 1 i i i ocal business news Hems can be sent The Bradenton Herald Buslnese Editor 0 Box 921 Bradenton Fla 33506 lie Bradenton Herald Friday August 29 1986 rn UJ pageA-15 Leading economic indicators up 11 i-' 1 "The economy isn't getting any worse It is growing very slowly and there is no evidence that tins pattern is changing would need several more months of significant increases and more widespread gains fa the components to indicate the economy was Chimerint added Commerce investigating leak sof i economic indicator figure AMOfitlAoM PflM twi ahnai a'l 1 stMwamsat alas law 7 WASHINGTON The main gauge of future economic health rose a strong LI percent in July after two months of decline providing what (me analyst called but not great" news for the sluggish economy The grin fa the forward-pofatfagfa-dex of Leading Indicators announced by the Commerce Department on Tnursday was bigger than most private economists had expected However the report also revised index sharply downward from i Private analysts have no doubt the UJS economy is growing more rapidly in the current July-September quarter than the barely visible 06 percent annual rate of the April-June quarter WASHINGTON The Com 4 This tumor which was circulating amerce Department launched another widely' proved to be conect Also investigation into the poeslble leak of correct was a rumor last week that sensitiye economic indkator Thurs-' the groes national product would be daytheecoad uch occurrence fa revised downward to show thatthe growing atla''weak' a 03 percent increase to a 04 percent i July fa- perhaps making the July percent fa the April-Junequar-: James Mtaton DrewMcNabb General 8Sermra: Funki ter was parked byrumocs fa the fiifanl'fabmtoses the rumon wore dal jmarketi Wednesday afternoon stantfally different than predictions lhat the Index of Leading Indktarslf being made fa advance of the release released Thursday: morning: would dkte by private eccnomietfclKSj However most are predicting growth the rest of this year and fa early 1987 at about a 24 percent to 8 percent rate roughly the tame as the modest pact of the past two years and well below the 4 percent growth forecast by the Reagan administration The recent sluggishness hasn't increased the national unemployment rate or set off other warnings that a new recession might be imminent However the slow rate of economic expansion has disappointed business leaders and gov-' eminent officials who had gotten used increase look mhUadingiy largo by comparison good but not great" said David Wyss chief financial economist for Data Resources Inc fa Lexington Mass "The downward revision of June just about offsets the big jump fa July" Lawrence Chimerine president of Chase Econometrics fa Bala Cynwyd Pa also saw little reason for cheering "This is consistent with the general pattern we have been seeing" he said Key Federal awaits deposit insurance to much faster growth fa the first 18 urea from various areas of the economy months of recovery after the 1981-82 was given ita biggest push upward fa recession July by substantial increases fa the The Index of lotting Indicators a money simply and fa the rate of new compilation of 11 forward-pointing fig- business formation I IT Channel 40-TV Douglas Barker Ailing WWSB-TV Channel 40 president and general manager Key Federal Savings Bank could open early Tuesday president John Kuykendall said Thursday The new thrift located in the North Key Plaia 6610 Gulf of Mexico Drive Longboat Key ia waiting oily for the Federal Saving! rad Loan Insurance Ccnrp to agree to insure deposits Kuykendall said The building is finished the computers are on line rad 11 em-nloyeee are on board he said Thei initial capitalisation was 98 milium generated by the sale of stock to 60 people through a private offering uid Kuykendall who owns 10 percent of the shares Bradenton attorney Roger Conley and his family owners of Conley Buick Inc own 249 percent of the stock Conley is chairman of the board of directors for Key Federal Drew McNabb formerly assistant manager of consumer lending for Gddome Savings Bank has been named vice president of lending James Minton formerly with Gulfstream Financial Corp of Boca Raton and Coast Federal Savings and Loan was appointed vice president and treasurer changing name boosting staff fate sealed PROFESSIONAL! Bean his career fa television aa a salesman at WKBD-TV fa Detroit shortly after his 1965 graduation from Michigan State University Wi producer at WJIM-TV fa Lansing Mich Joined WTVJ-TV fa Miami fa 1975 and became station manager there in 1979 Moved to WWSB fa March 1986 JMMDUNDLEY owner files Chapter 1 1 Channel 40-TV is changing its call letters and adding newscasts and personnel as the new owners attempt to increase the market share Beginning when the station signs on the air Sun-' dw the Sarasota-based station will be known as WwSB rather than WXLT president and general mager Douglas Bark- vu stand for Sarasota and Bradenton tie into the community better PERSONAL: Barker 42 was born in Detroit Married to Sandra JHaa two children fa high schooL lives fa Sarasota BUSINESS COUNSELING OFFERED The Manatee Chamber of Commerce along with the Small Business Development Center (SBDC) at the University of South Florida is offering free advice on starting and operating a business on Sept 9 Appointments are necessary and era be made by calling the chamber at 748-3411 ey for advertising its primary source of revenue A 30-eecond advertisement during the 6 pjn news sells for 9450 compared witii 9400 fa May Barker said The same spot sold for 9300 to 9350 fa February With hopes or raising market share to-15 or 16 percent the station is adding a noon news show Barker said Terri Hendry who formerly worked at LONG ELECTED TO VJP POST Bill Long president of Anchor Air Conditioning Iae 401 Eighth St was elected vice president of the Florida Air Conditioning Contractors Association convention at the Breakers in Palm Beach County Long also has served as director treasurer and secretary of the statewide association DENVER Frontier Airlines filed fa Chapter ll reorganisation late Thursday fa UJS Bankruptcy Court ending five days of speculation about the Denver ute United Airlines which had been the most serious bidder for Frontier on Wednesday dropped its 8146 million bid for the Denver-based earner Frontier stopped flying cm Sunday stranding thousands of passengers across the nation "The decision to file a bankruptcy petition was made only after we had exhausted every other avail- able alternative Including the possible sale of Fron- tier to parties other than United said Don- rid Burr People Express chairman of the airlines or other financially respond- ble entities we spoke to was willing to make an offer i for Frontier as a he said "With respect to 7 United Airlines we offered to take a drastic reduction fa price if United would complete its acquisition of Frontier but United was unwilling to proceed with the thaw the old ones he said The and of the old call letters were Roman numerals standing for 40 a little too obecure for most viewers Barter "Wehadwrated WSBV to include Venice -but they were already taken" Barker purchased and took control of the station March 27 main offices and studios are fa Sarasota The station also has a Bradenton studio at 2600 first St that can transmit material to the main studio o' According to the Arbitron ratings released this week Charnel 40 has a 14 percent share of the Sarasota market the same market share the station has had tar a year Barker said The Sarasota figures closely approximate the market share the television station has in Bradenton which is lumped into the St Petersh 'eteiabun and Tsmoa ratings i a Columbus Ga station will anchor the half-hour local news and weather show Other changes in the stations news coverage include a five-minute newscast at 7:25 am during Morning he said The station will continue Its five-minute LEADERSHIP DIRECTORS NAMED New directors of the Leadership Manatee Alumni Association have been elected They ue Ronald Forney of Forney Engi neering president Nancy Engel vice president of the Economic Development Council at WTVTTV a CBSafffflateTwaa No 1 fa Sarasota with a 23 percent share and WFXL-TV an NBC Airline officials said it was costing People Express 91 per day fa overhead and leases to maintain grounded fleet and idle facilities The hour evening news will be cut to a half-hour beginning at 6 pm Barker said not enough news out there on a day-to-day basis to fill an hear news show going to put all our effort toward the hidf-hour Bill Keene will remain as anchor for the 6 pm and 11 pm newscasts WWSB has lured Katie McManus as executive producer of the news programs Barker said McManus who used to work at a Dallas television station will oversee the day-to-day broadcasts The station now has 21 people on its news staff and 60 people total he said the Manatee Chamber of Commerce vice president Sherry Morrow of Glendale Federal secretary-treasurer Other board members include Nick Ryan of Portland Cement Barbara Cashion of Community Bank and Eloise Lisch and Jane Kitching of Barnett Bank affiliate came fa second with a 19 percent share WWSB is an ABC network affiliate While there hasn't been an overall increase fa the station's market share ratings of the locally poduced segments have increased Barker said ABC is not going up" Higher ratings allow a station to charge more mon- Robert Joedkke an airline analyst for the New York investment firm Shearson I-hmn Brothers Inc had said earlier that even if Frontier filed under Chapter 11 to reorganise he did not see how it would possible to be put back into operation Florida City asked to amend MR1H bond terms lie The investors want to turn the med- JOHN ALLARD HwlO tiUn TWB6T SARASOTA FIRM GETS CONTRACT TeekTime Inc of Sarasota has received a $267240 contract to install computerised time and aMaiwlnne systems for the Ohio Department of Mental Health company president Brad Baker said Thursday' The time clocks and accompanying software systems are to be installed in 21 different hospitals throughout Ohio Baker said Installation is scheduled to be completed by Sept 28 IDB financing in 1987 if proposed fa the federal tax laws are ra- changes ical facility into a multi-use building scheduled City Council members are acted MMH TJmltil Partnership wants to amend the terms of its 984 million industrial development bond agreement far construction of a five-story office complex on the grounds of Manatee Memorial Hospital Bradenton City Council members The partnership received the IDB fa December 1985 But the tax-exempt bond money has yet to be used Costs for construction of the proposed 75000-equare-foot complex have been estimated at 96 million according to IDB application papers filed fa October 1985 An estimated 75 to 100 new Nation have been asked by the group of invee-tors to allow construction of the 1985 and the IDB application lists Barry Johnson head of Baptist Hospitals and Health Systems as a genual partnu of MMH Limited Partnership Officials fa the corporate division of the secretary of office fa Tallahassee said they have no record of an MMH Limited Partnership Manatee County corporation files also do not contain any limited partnership under that name Gerald Wiasink head administrator of Manatee Memorial was unavailable for comment Thursday Manatee direct involvement with the project will be limited to its role as the landlord Deitrich said He said the hospital will lease the land for the complex to the group of investors to vote on the request to amend the IDB agreement Sept 10 The Bradenton Downtown Development Authority approved the proposal Aug2L A pharmacy and out-patient services such aa a rehabilitation clinic might be in the proposed building said David Deitrich attorney for Manatee Memorial He said most of the complex would house the afficee of doctors affiliated with the honrftaL Construction on the complex would have to begin by Dec 31 whra the rules governing IDBs change said Tom Mflls DDA executive director He said the project would not be eligible for lobe with a payroll of 91million would be created in the first year of operation The partnership appears to be an offshoot operation of Manatee MemoriaL The parent company Baptist Hospitals and Health Systems medical office complex anywhere on the hospital grounds instead of near the parking lot as originally proposed The placement of the office building could affect traffic flow and parking capacity around the hospitaL The limited partnership also is asking for a free bend fa determining the kind of services it will offer to the pub- Inc of Phoenix Aria paid the 86700 IDB application fee fa Manatee County jobless rate up Hormel union agree to pact iii Hmld staff resort mil mnni ETCETERA Minatar Inc of Minneapolis has agreed to sell its AMF Bonding products unit to an investors group for about 8225 million the chairman of Minstar Irwin Jacobs said Thursday The purchase group Major League Bowling Cap an owner and operator of 22 bowling centers and a number of other individuals the comoany said Sunkist Growers has agreed to pay a 8375000 civil penalty to settle charges that it delayed in complying with an order to sell its Yuma Aril citrus processing facility the Federal Trade Commission announced Thursday Sunkist a cooperative of some 6 400 California and Arizona citrus growers agreed in 1981 to sell the Yuma operations within 18 months That agreement settled charges brought by the FTC that Sunkist had sought to monopolise the sale and distribution of drtus products in several markets in the United States and Canada LTV Corp operating under bankruptcy-law protection said Thursday it asked to defor a 9215 million contribution due Sept 15 to pension plans of its steel and energy divisions so that the company can conserve cash llarkati Dow ones 190017 -486 NYSE Index 14524 -017 AMSE Index i 27320 030 NASDAQ Natl Index 16291 082 NASDAQ OTC Index 38240 071 Gold Comex close 338640 95-40 Silver Comex dose 85142 9002 From staff and wire reports Manatee unemployment rate rose a "rally insignificant" fourth-tenths of a percentage point fa JujytoRfipercent county economist Craig Starnu "Thus was a lot of kids not fa school and teachers too" Stunu said really insignificant the difference between June (54 percent) and July" Despite the increase he noted July's jobless rate still was well below July 19851s 64 percent The percentage of people looking for jobs probably will remain the same August then probably see a little improvement fa September" as working-age students return to school and college labor force numbered 71926 last month compared with 73428 fa June The number of people employed also foil to 67766 from 69294 while the percentage of people unemployed but looking for work rose to 4160 from 3432 Sarasota unemployment level also rose fa July to 47 percent from 44 percent Photo: ASSOCIATED PRESS AUSTIN Minn A tentative contract has been reached to end the bitter meatpackers strike against flagship plant and a town leader said Thursday it should enable residents to "start rebuild- tea our Larry Haugen head of the local Chamber of Com- merce said ha hoped the settlment would bring busi- ness back to normal Negotiators for the United Food and Commercial Workers union and Geo A Hormel A Co reached the tentative agreement Wednesday night fa Des Moines Iowa where talks had been held tor eight days Under the agreement wages would tw restored to levels above wage cuts implemented by Ho mel fa 1984 said Joe Hansen a union negotiator Hansen said the agreement is patterned after one reached last weekend at Oscar Mayer ft Co that will pay waken 81070 an hour by the third year of the contract Needs no prints Nippon Kogaku Co of Tokyo maker of Nikon cameras announced Thursday it has developed a color transmitter that can send color images directly from 35mm color film positives and AMlASllMSim Hmaa la Jwlf 4 negauvw vw tCMpnono mm it oosionM for use by news organizations.