Oakland Tribune from Oakland, California • 22

Th Tribun Friday, November 8, 198S Section Markot Summary Thursday, Nov. 8, 1985 Complete Dow Jones, SAP, Page C-2 DOW 30 3.90 SOP 500 NASDAQ' 0.18 0.73 DIGEST Uniteds -V Pan Am Japanese statement stops dollars decline AiflmeComplamtSuryey Court rules against Millard ComputerLand founder must fmd $25 million Ranking of nkhnet. Complaints per 100,000 passengers. dealOKd .1.32 .1.08 17. American 18.

PSA 19. Frontier 21. Air Cal 1. World Airways 4. People Express 6.

United Airlines 7. TWA 16. Western .12.75 ..4.31 .1.33 Airline also orders 116 jets for $3 billion from Boeing .1.06 .0.67 By Henry Schulman Tht Tribttt By Paid Richter Lot Anftbt Tktet NEW YORK The dollar reversed a four-day drop and surged "higher against major' currencies yesterday after a report that Japan's central bank fears an abrupt decline in the U.S. currency afid will stabilize exchange rates. The dollar closed in Tokyo at 202.55 Japanese its lowest point in almost five years.

But it later rebounded, closing in New York at 205.925 yen. After Tokyo markets closed yesterday, the Kyodo News Serv- ice reported the Bank of Japan fears an uncontrolled decline in the dollar and will stabilize the exchange rate at about 200 yen to the dollar. Higher yen rates hurt Japanese exporters by making their goods more expensive. The dollar opened stronger this morning in Tokyo 206.30, up 3.75 yen. As the dollar rose, gold fell.

Republic National Bank of New York quoted gold at $321.75, down. $2.25. Complete dollar quotations in Foreign Exchange, Page C-4; gold, silver quotations in Futures, Page C-3.) Svrvty tovTM 26 oirt2int This chart fist okEnn that unrt Oakland International Airport; M'-, iSv ftmee. Ofwtwiwl tf TrampwtatfM ComputerLand Corp. chairman and founder William H.

Millard suffered a sharp blow in his efforts to hang on -to the Oakland-based company Wednesday when a state appeals court judge ruled that he must come up with $25 million before he can appeal a financially crippling court judgment against him. Millard has until Dec. 13 to find the money. If he fails to meet the deadline, he cannot appeal the March judgment won by MicroVest which was awarded $141 million plus 20 percent of ComputerLands stock. Millard has said he does not have enough cash to cover the World Airways tops complaint list NBC MAY BUY HALF OF CABLE NEWS NETWORK: NBC is moving closer to a deal to purchase half of Ted Turner's Cable News Network, but an agreement hasn't been reached yet, sources close to the negotiations told The Associated Tre ress yesterday.

A source said Turner By David Tong lit Tribune has agreed in concept to relinquishing editorial control to NBC, something NBC considers vital to the deal. Newsday, a Long Island, N.Y. newspaper, reported NBC will pay between $2Q0' million and $250 million and said the deal was part of Turners attempt to raise money so he can buy moviemaker MGM-UA Entertainmbnt Co. for $1.5 billion. Complaints from passengers about the nations airlines included overbooking, refund difficulties, smoking and lost baggage NEW YORK United Airlines won final approval yesterday from the U.S.

Department of Transportation to take over the Pacific routes of Pan American Airlines, and it separately announced a $3 billion order for up to 116 aircraft from Boeing to expand and modernize its fleet. United spokesmen described the route purchase as the largest deal ever struck between commercial airlines and also maintained that the $3 billion order represents the largest order for commercial aircraft UAL United's parent, will, pay Pan Am $715 million for its Pacific division. UAL said it may spend as much as $3 billion to buy up to 110 short-to medium-range Boeing 737-SOOs and up to six long- range 747s. Approval of the route expansion came from Secretary of Transportation Elizabeth Hanford Dele, who brushed aside the objections of the Department of Justice and other airlines that competition would suffer if the largest U.S. carrier were to acquire the additional rqutes to Asia and Australia.

Noting that new Pacific routes recently agreed to with foreign governments 'are to be divided among U.S. carriers in the coming months. Dole predicted that United will confront a more competitive situation when this transaction is completed than exists today. It was the second major aircraft order in about a month for Boeing, which on Oct- 22 announced a $2 billion order from Northwest Airlines for new 737 and 747 airplanes. Analysts said the expansion of Boeing's backlog was in line.

with a general expectation that the No. 1 commercial aircraft maker will be steadily increasing production in the next several years. -President Reagan may reverse CONSUMER SPENDING SLUGGISH: General merchandise sales picked up in October, but not enough to pull the nation's top retailers out the doldrums, according to the companies' reports yesterday. Results included Sears. Roebuck the nation's largest retailer, up 2.4 percent over September, mart up 4.4.; J.C.

Penney up 1.6 percent, Dayton Hudson up 11.7 percent, Montgomery Ward, down 1 percent, R.H. Macy up 9.2 percent. Analysts said that although consumers still feel confident about the economy, their high levels of debt and low rate of savings are limiting 'spending. They dont forsee a significant improvement for the important Christmas selling period. Huddling with lawyers Barbara Millard, the chairman's daughter and president of IMS Associates, ComputerLand's holding company, told The Tribune yesterday that she was huddling with company lawyers to plot a strategy to fight Wednesdays court decision.

Since William Millard has already been forced to' post his 97 percent stock interest in ComputerLand to appeal the verdict, he has no assets left on which to borrow another $25 million, Barbara Millard said. If we have to find $25 million of outside money or business collateral to post the bond. 'Wepvent got an appeal, she said. If the $141 million punitive verdict -were suddenly a validated judgment, and we have no right to appeal, we are bankrupt. There! is no way at getting around that, she said.

Herb Hafif, the chief lawyer for MicroVest and a longtime Millard yesterday repeated his call for Millard to settle out of court. World Airways has the dubious distinction of receiving the most passenger complaints of 26 airlines surveyed between April and August by the U.S. Department of Transportation. Complaints against the Dakland-based airline, primarily gripes about departure delays and ticket refunds, came in at an average monthly rate of 12.75 per 100,000 passengers over the five-month period. That was about double the rate of second-place Pan American World Airways, which picked up an average of 6.94 complaints each month.

Michael Henderson, a spokesman for World, cited the airlines unusually high load factor as a major cause of complaints about departure delays. "We had a very busy summer across the Atlantic, and we experienced higher than normal departure delays out of Baltimore." he said To remedy the situation, Henderson said World is trying to schedule more ground time to increase the leeway between flights. He also said the company is simplifying its fare structure by offering only two fares: a seven-day advanced purchase DOW SINKS BELOW 1,400: The Dow Jones industrial average went through 1,400 the wrong way yesterday as profit taking in ticket and an instant purchase fare. The Department of Transportation, through letters and a nationwide hotline, received a wide range of airline passenger complaints including problems With fare adjustments, overbooking, refund difficulties, smoking and lost baggage. The governments report actually understates the total number of complaints against airlines.

Wallace Stefany, a DOT spokesman, said. The complaints in the report represent those which passengers have not been able to resolve with an airline. World had the highest number of complaints in every month of the survey except May, when it Fanked third behind Pan Am and Midway. Who had the least complaints? Aloha Airlines of Honolulu with a scant 0.18 complaint for every 100,000 passengers. Dow Jones averages List 7 Tridhi Dip 1375.57 1374.31 blue-chip issues set the widely followed indicator back about 4 points in an wise mixed session.

Yesterday's' 3.90-point drop Int the Dow d6wn to 1,399.54. The average of 30 13M.M butt Nm Yak Stack Eidunc highly capitalized stocks closed A human drama See UNITED, Page C-4 If this were a legal tennis match it might be said that Bill Millard just broke his last Hafif said in a statement. But it is not a tennis match. It is a human drama involving a vast business-empire and I want to- proceed Jo settle the cade I am not looking for a tactical advantage. 1 am looking for fairness.

ComputerLand is the world's largest computer retailer, with 820 stores and 1984 sales of $1.4 billion. An Alameda.County Superior Court Hayward-based Shasta sold to Florida company Chrysler alters its corporate structure above the 1,400 barrier for the first time on Wednesday, at .1.403.44. FREMONT HIGH TECH FIRM REPORTS LOSSES: Optical Specialties a Fremont company that manufactures equipment for testing computer chips, yesterday reported quarterly and annual losses for the periods ending Sept. 30, 1985. Optical lost $829,000 in thetfourth quarter on revenues of $1.5 million, compared to a $449,000 profit on revenues of.

$4.8 million for the like period in 1984. For the year, Optical lost $836,000 on reVenues of $14.9 million, compared to a $1.4 million profit on $14.8 million in revenues for 1984. Senior vice president Steven A. Hess blamed the lingering slump in computer chip sales for the company's downturn. The slump also forced Optical to cut 00 of its 240 workers.

NO INTEREST RATE HIKE, VQLCKER SAYS: Federal Reserve Chairman Paul Volcker in a letter to the Congressional Federal Open Market Committee yesterday said the fed will not be pushing interest rates higher in coining weeks even though the measure of money in circulation, M-l, is growing much faster than targets set by the central bank. The banks policymakers have decided such growth would be acceptable. Yesterday, the M-l fell $2 billion, after growing for the previous two- weeks. judge ordereA Millard to pay MicroVest the mi nulti-million in a dispute over a 10-year- By Donald Woutat Let Angtht Tlmtt As expected, Chrysler Corp. announced a reorganization yesterday and said it is "studying the possibility asking shareholders to create a formal holding company to oversee its four newly defined operating units as subsidiary corporations.

But there arent any plans to offer. separate stock for any of the units, a Chrysler spokesman said. As reported, the new umbrella organization will oversee four operating groups that the company described as autonomous: Chrysler Motors, the car and truck business; Chrysler Financial, which, with recent acquisitions has become the nations fourth-Iargest non-bank finance company, Gulfstream Aero- munications and cable-TV company. The deal involved Burnup and Sims buying 40 percent of the common shares in National Beverage and related securities for cash and stock. National used the Burnup and Sims stock to pay for part of the acquisition of Shasta.

A precise sales price was not disclosed, but one report put the purchase price of Shasta at $55 million. Shasta, which sells more than 30 flavors under the Shasta and Capri Sun lines, began as a San Francisco bottled water company in 1899. In 1950, at a time when sales were less than $500,000, the company entered the soft drink-business. It was sold to Consolidated Foods. now known as Sara Lee for $1.4 bullion.

The company moved to the automated plant in Hayward in 1965. Tht Tribunt Shasta Beverages, the Hayward-based subsidiary of Sara Lee Corporation, has been purchased by National Beverage a new company headquartered in Fort Lauderdale, Fla. The nation's seventh-largest soft drink company, Shasta has nearly 1,000. employees at Ji plants nationwide, including 250 locally. Shastas 1984 sales totaled about $300 million.

A spokesman for the new owners said the company will continue producing beverages and he expects Shastas headquarters to remain in Hayward. Under terms of the deal, Sara Lee will retain an interest in the beverage company, through stock it received in the sale. National Beverage is a new partnership led by Nick'Caporella, chief executive of Bumup and Sims Inc. a Fort Lauderdale telecom- old, $250,000 IOU. The judge ruled that Millard and ComputerLand would have to post $25 million plus all of company's stock to appeal the verdict.

The Millards, arguing that their stock in ComputerLand was their only substantial asset, asked the court to reconsider the $25 million cash requirement. We were completely shocked that the court denied it and we dare say Herb (Hafif) is too, Barbara Millard said. Herb has been so successful at ranting anL raving about all the millions we have, hes convinced I IN THE BAY Flextronics, a Newark-based manufacturer of integrated-circuit boards, has won a contract worth at 'least $10 million to provide boards for Tandon a Southern California disk-drive maker. Lafayette's, Duffel Financial and Construction Company recently observed the traditional "topping out" ceremony of Martinezs Muir Station Office Park. AROUND THE See MILLARD, Page C-4 See CHRYSLER, Page C-4 State Treasurer Jesse M.

Unruh has scheduled a $180 million general obligation bond sale to fund toxic waste cleanup and low-interest loans for veterans, i AROUND THE Investment which operates the Dunes Hotel Casino in Las Vegas, Nevada has filed for protection in U.S: Bankruptcy Court 1 Playboy Inc. reported a $2 million first quarter loss on revenues of million, compared to net income mic Oamtal-spendingsury i LvVf ipifSiS tha of $3.6 million on revenues of $46.4 million last year. Mercedes-Benz of North America announced that air i ArnttbUtamn ua; Thiombous forecast jnMietf only I capital spending next year by 5.4 percent, a the fourth time IB 32-year ton that portends tough JwjJH. m0H nesses.according McGraw-Hill Economy I projected a decline McGraw-Hill aurveyof-H: nessinYesttpent fcUtai Hashing a. warhing The poll, Ukentn September and October1, salami bags and front seat belts that react to sudden motion woipd be standard equipment on all new models.

Following Sonys lead, Hitachi Seiki a Japa- toolmaker, will raise export prices of lathes by up 10 percent'due to the dollar's decline against the yen. I AROUND THE 1 Production workers in the Far East enjoyed the best gains in purchasing power over the last decade with Taiwan, South Korea, Singapore and Hong Kong leading the list; according io a private research group. The Royal Dutch-Shell Group of Companies reported its profit tumbled 55.1 percent lest quarter. do laifnai for the fa i98i said the hF 'threw responses from '549 Companies tbit compsmwhfolt la's ttviston count for about 36 pewwitof capital tilth United ftatesJr throe precious 1985 lefel of $38i4hfBMii" 0C8Bted a timed the(couiiime the survey for6caatfteli; edoirtlifs By Tht Tribune tltOtitdMwtttnriott ItS thiS mmatSi ingnextyear INSIDE NYSI stocks OTC AMIX stocks Classified I0t Inflation-adjusted, meat i companies historically Ca2 I I I 6i i a dUO..