Abilene Reporter-News from Abilene, Texas • 15

atfM iMVMifBIlii -i eafito Business Update 6710 Stock Mart et Update IS- srvtj! 6730 Business NL S7S-22S5 OOQOO StockQuote Hotline 2200 S7S-22SS Local Business Calendar 2225 Friday Jan 20 199S Abilene Reporter-News PAGE 5B 6740 rade deficit worsens US trade in goods and services Doug Williamson Business report The monttr-by-montfi changes in the governments new trade report which nckxles trade in services as wel as trade in goods The Mowing fisting shows the overal defict the deficit in goods and the surplus in services MSons WASHINGTON (AP) Despite the Clinton aggressive campaign for trade agreements trade deficit is worsening and on track toward a record exceeding $150 billion for 1994 The Commerce Department reported that the deficit in November climbed 43 percent to $1053 billion up from a revised $1010 billion in October US exports of goods and services helped by a giant surge in sales of commercial airliners were up 22 percent to a record $6116 billion But imports climbed at an even CD 103 SportsRadio 1340 change hands keep same formats The Clinton administration which counts among its greatest achievements a round of market-opening trade agreements blamed the deteriorating trade performance on unequal economic growth rates among major trading partners the good news our economic recovery continues That puts American consumers in a position to purchase goods from abroad The bad news is other economies are not performing as said White House press secretary Mike McCurry But some private economists contended that major trade barriers especially in Japan and China were to blame as well Despite several marketopening agreements the United States has been unable to strike a deal with Japan on autos and auto parts which account for nearly two-thirds of the deficit with Japan if our economy slows we are still going to be left with big said Lawrence Chimerine an economist at the Economic Strategy Institute in Washington reflects closed markets in Japan and China and it is something we keep Through the first 11 months of 1994 the UjS deficit in goods was running at an annual rate of $1525 billion on track to surpass the record of $1521 billion set in 1987 In a second report Thursday the Labor Department said the number of Americans filing first-time claims for unemployment benefits dropped by a sharp 31000 last week to 323000 the lowest figure in three weeks Marilyn Schaja an economist at Donaldson Lufkin Jenrette said this decline was more indicative of the strong labor market although she cautioned that jobless claims are extremely erratic during holiday periods The worsening trade performance was certain to present political headaches for the administration SI S3 1 Owraf defies l-SXLB jjMTgj Prior ryca faster pace of 25 percent to $7169 billion the seventh straight month they have hit a new high The gain in November reflected in part a higher foreign oil bill and more imports of autos The trade gap is the difference between imports and exports NDlJFMAMJ JASON 1993! 1994 Source: US Dwx of Comnwce Shutdowns begin as GM parts strike enters 2nd day FLINT Mich (AP) A strike at General Motors parts plant began to ripple through the No 1 assembly they are built and delivered they are needed under a supply setup car and truck assembly plants could start being hobbled by the strike by Thursday he said courtroom odyssey not over just yet radio marketplace was shaken up tli week with CO 103 and SportsRadio 1340 changing ownership KCDD-FM (CD 103) is being purchased by three executives of KBCY-FM (Y99) Glen A Hine president and one-third owner of Y99 his wife ann both of Tyler and Y99 General Manager Jack Smith are purchasing the station The new ownership will work under a lease-management agreement while the Federal Communications Commission reviews the CD 103 sale Smith said Big Country Broadcasters the Hines and Smith will keep the contemporary hit radio Top 40 format for CD 103 and today's hot new country format for Y99 Smith said Smith will become vice president general manager of CD 103 and will remain as general manager at Y99 He said he anticipates no loss of personnel CD 103 will move into Y99's offices at 241 Pine as soon as possible Smith said Jim Christo-pherson will join the combined operation as sales manager on Feb 1 Smith said the combined stations should help Y99 to KEAN the local ratings leader Currently Y99 is second in the market he said Y99 is also jumbling its on-air staff Two disc jockeys Dave Steele and Kristi Kredit will form a new morning team Dave Harrison has been hired to take the mid-day program and Tim Kelly will move from morning to evening drive time KYYD-AM (SportsRadio 1340) is being acquired by longtime local radio executives Dave Martin and Dave Boyll They will take over the operation of the station from Wooten Broadcasting on Feb 1 under a lease-purchase agreement Martin and Boyll have approximately 60 years experience in radio sales and programming in Abilene Boyll owns KHXS-FM (EZ 106) and Martin has been working at SportsRadio 1340 No format changes are planned Martin said Martin will manage the station while Boyll will continue to operate EZ 106 By EVAN RAMSTAD API 'ftwneWiw NEW YORK (AP) Microsoft antitrust settlement with the government was thrown into doubt Thursday when a federal judge sharply questioned key parts of the pact reached by the top computer software maker six as late it runs through the weekend they could be out of production by early next at many GM plants around the PhilUppi said GM said there had been no other plants affected by the strike by midday Thursday The issues in the dispute are similar to those that caused two GM strikes last year that quickly forced the company to close other nonstriking plants are getting run ragged with the overtime said Chuck Sain of Burton a union health and safety representative Strong buyer demand for new cars and trucks has many auto plants running flat out and the workers at Flint contend GM has reneged on an agreement to hire 500 new employees at AC East Another major issue in the talks is the use of BE SIS months ago operations Thursday as bargainers worked to end the dispute GM sent home day-shift workers at its Pontiac East truck plant at 1 pm Thursday and cancelled later shifts because of parts shortages caused by the strike company spokesman John Shea said Some 6500 workers at the Lansing car assembly plant were told not to report for work Friday said GM spokeswoman Linda McGill The plant produces the Oldsmo-bile Achieva Pontiac Grand Am and Buick Skylark That added 3100 workers to the 6800 strikers already idled by the walkout that began at 10 am Wednesday The United Auto Workers union and GM resumed negotiators Thursday morning over the dispute at the AC Delco Flint East complex which includes factories from two GM parts divisions The strike by UAW Local 651 has cut off the flow of a variety of parts used in most GM vehicles and sold to other automakers and retailers Most critical among the products are fuel pumps and cruise On strike: Untted Auto Workers In an order signed just a day before Microsoft' and the Justice Department planned to seek final approval of the settlement US District Judge Stanley Sporkin in Washington said he would ask the two sides to explain why certain business practices were excluded from the historic accord -Sporkin order is not itself a sign that he will-reject the agreement But it presented a toughj agenda for winning his approval which is required because he is responsible for overseeing the Microsoft settlement union Locsi 651 representing shout 6800 wart vs at GfriACDdcoFInt Pride is Turnerhill East complex At issue: Union says GM should hire up to 500 additional wortsrs and reduce overtime schedules because long wort weeks are creating health and safety hazards in the plants Union aso disagrees with the use of outside oontractara outside suppliers Squeezed by competitive pres- The computer industry is transfixed awaiting the outcome in what could be a pivotal point in the phenomenally successful story of Microsoft and its awesome reach Products mads st tbs complex -spart plugs fool system components cruise controls tattunent dusters sir feel and oil fitters Wilton Turnerhill has been named recipient of January's Pride of Abilene award He has been a resident of Abilene since 1938 The owner of Turner Bar- becue has been in the restaurant business for 30 years and is a past president of the Abilene Chapter of the Texas Restaurant I Association He is involved with the Boy I Scouts Little League baseball Abilene Food Bank Habitat for Humanity and Project Gradua-' tion and is a member and trustee at Macedonia Baptist Turnerhill sure to try to end its status as the least efficient vehicle producer GM is reluctant to hire new UAW-represented workers whose pay and benefits eventually reach the level of more than $42 an hour Most outside suppliers union or nonunion have dramatically lower labor costs APWm CasMo controls said auto industry analyst Joseph Phillippi of Lehman Brothers in New York Because Church The award sponsored by Pride Refining the Abilene Chamber of Commerce and KTAB-TV will be presented at the restaurant 1881 Treadaway Thursday at 10 am Bank created to clean up near border has yet to make loan one year later Gymnastics Sport Center expands It also indicates the judge has taken into consideration many criticisms of the settlement' forged last July after a four-year government? investigation of Microsoft over its top position in the multibillion dollar software industry The settlement preserved dominance If Sporkin finds it unacceptable he could! ask Microsoft and the Justice Department to try" again That raises the prospect of much harsher' restrictions on Microsoft and at its most extreme splitting up the company akin to the way former phone monopoly Corp was dissected more than a decade ago In his order the judge said he wanted to know why Microsoft required to establish a barrier between the development of operating! software which runs the basic functions of a- personal computer and applications software programs such as word processing or spreadsheets Critics have charged the absence of such a barrier allowed Microsoft to use its dominance in operating systems to control another key market giving it unparalleled strength The computer industry has been transfixed by the Microsoft case awaiting the outcome in what could be a pivotal point in the phenomenally successful story of Microsoft and its awesome 1 reach Sporkin performing the required judicial re- view of antitrust cases conducted two hearings last fall Gymnastics Sport Center at 1241 Ben Richey Drive is adding 7000 square feet to its gymnasium With the addition of five pit trampolines and another deep loose foam pit the center will have more than 17000 square feet A 2500-square-foot observation space and aerobic area are part of the expansion said owner Jack Smith Construction should be complete by March the ninth anniversary of the center HOUSTON (AP) More than a year after approval of NAFTA a trade-related development bulk set up to fund cleanup projects along the US-Mexico border has yet to make a loan The North American Development Bank in San Antonio was created to offer low-interest loans on water and waste treatment projects Now the devaluation by one-third will make repayment of loans from NADBank even more difficult And some experts doubt border cities with their open sewers and scarcity of clean drinking water can even afford the major projects a reason this environmental cleanup happened along the border said Heywood Sanders associate professor of urban administration at San Trinity University politics and the economics are astonishingly US officials had predicted NADBank would be open by October but it only recently leased temporary space Deputy manager Victor Miramontes is the only executive to be named priority is not said John McCray assistant professor of strategic management at the University of Texas at San Antonio to control inflation and bring the interest rate down" Despite appropriation of $56 million for the first-year funding some experts doubt Mexico can raise the money from financial markets needed to make the bank work is a real step said Mary Kelly director of the Texas Center for Policy Studies an environmental research group believes Mexico has callable capital Under NAFTA the United States and Mexico will each contribute $225 million to the NADBank over four years with each country providing an additional $255 billion of money the bulk can draw from financial markets We want your business news Fax tt to Reporter-Nows Business News Department (915) 873-1901 Mall It to Reporter-News Business News Department PO Box 30 Abilene 79604 Quake repairs could boost Japanese economy TOKYO (AP) Repairing devastated Kobe one of busiest ports and commercial centers could cost up to $60 billion by some estimates But the recovery work may ultimately boost the economy Docks and loading cranes crumpled by the earthquake have closed the nation's second-largest harbor operations Toyota Motor Co suspended production at all 12 plants because of problems in obtaining parts -caused by the quake Honda Motor Co the largest motorcycle manufacturer said its plant in Kyushu would close for two days starting' Thursday Almost all plants in the region were expected to? be back on track within a few days as factories turn to alternative suppliers The closing of the port has been felt overseas Ultimately economists say the earthquake could be a net boost for the economy because of the extra demand generated by heavy spending on recon-struction Merrill Lynch predicts the net effect of the earthquake on Japan's economy will be neutral this year and will boost total economic output by 06 percent in 1996 from the Los Angeles earthquake last year Japanese law limits the total liability of insurance companies in the area to about $7 billion so much Of the reconstruction cost is expected to be paid by the government private companies and individuals The government says it will release $1 billion to pay for reconstruction and more quake relief is expected to come in a supplementary budget For now the effect on Japan's economy has been severe Hyogo Prefecture the hardest-hit district accounts for more then 4 percent of the gross domestic product and nearly 6 percent of the mining and manufacturing production The halt in the transport systems will hurt regional manufacturers who depend on production This system involves keeping low inventories of parts to maximize efficiency and will leave companies stranded when they resume port after Yokohama The port which handles about 10 percent of ocean freight may not open for months Many of the rail lines also won't resume full service for at least three months railroad companies say Collapsed expressways must be cleared of debris Many neighborhoods lack gas water and electricity Such repairs will cost up to $60 billion say J-P Morgan analysts and other estimates are twice as high In contrast it cost $30 billion to fix damage SOUMCJwMAiiMnoMaltanitaluran 1 rWCAWB KrigM-WddMTHhmrtWUL'nMP.