St. Lucie News Tribune from Fort Pierce, Florida • 35

A pi The Tribune Wednesday January 24 1990 D3 TV fonding The corporation assists the federal government in regulating public broadcasting "To start with us you have to have at least four-hundred-and-filty-thousand dollars committed in money from non-federal sources and as far as this office is concerned WTCE does not Dempsey said She said it's probably the lack of fluids that has kept the station from submitting an application with the corporation Brightly said in October that Channel 21 had already submitted an application to the corporation But Dempsey insists that no such application has passed through her office Jim Moran station manager of Channel 42 said he also doubts the security of Channel future Channel 21 planned to offer mostly locally produced programming with over a dozen shows planned on topics ranging from education to real estate But Moran said such a schedule is cost-prohibitive "We have one weekly program that we produce and a simple talk Moran said yet it costs over one-quarter of our entire programming budget Just to do this simple talk show Labor and maintenance costs are the reason why" When Brightly announced the pending birth of Channel 21 in a press conference last fall at St Lude West --the proposed site for the studio he said contracts with sane of the major sources of programming funds such as the St Lotto County School District had yetto be drafted Moran calls that poor planning 'f Hi 4 1 The new 3-month CD is available only at First Citizens Federal means access to your money at all times When you have an emergency you can get your money When CD rates go up you can switch to a higher-earning CD without any charges And if rates should go down you still have to worry your rate is locked in for the full 3-month term Our 3-month CD is the best worry-free liquid investment on the Treasure Coast The minimum deposit is $10000 And as always your deposit is insured up to $100000 by an agency of the Federal government From D1 Treads 'evratag said that ha would not diaeuaa the matter Claude Rhea president of Palm College which founded Palmetto also could not be reached for comment Tuesday Peterson said she is only vaguely ware of the financial situation But one of the "other ftwanrial Peterson mentioned could be Community Television Foundation Inc the parent com-PanyofjPubiic broadcasting station WPBT-Channel 2 in Miomi Community Television spokesman George Dooley laid Tuesday that his company and Channel 21 have been discussing a "working for several weeks That relationship might involve Community purchase of Channel 21 and its assets Dooley said his firm will reveal details of the talks soon as we have a better idea of Lewis Sang board of directors president of Boynton Beach-based WXEL-Channel 42 Channel nearest competitor said he welcomes any chance to help Channel 21 out of its problems if Palmetto Broadcasting is willing to hope (Rhea) considers helping the community he is trying to serve instead of taking regressive by forging a bond with Channel 2 another Channel 42 competitor Sang said Regardless of who talks to whom some broadcasting officials say they see where Channel 21's future lies Corporation for Public' Broadcasting spokesman Augustine Dempsey said a large source of public funds has to be available to the station before it can get approval from CPB for federal Tough From D1 percent to 60 percent from the third quarter to about $240 million from $471 million In 1990 he predicted earnings of the more than 860 New York Stock Exchange member firms doing public business would drop by up to 15 percent from last year that's if the environment get any Long said "At the rate going the environment is going to get The sour climate began with the Oct 19 1987 stock market crash and has led to large staff reductions and restructurings Merrill Lynch's record charge gave the nation's largest brokerage its first annual loss since 1971 Market From D1 stocks began 1990 by jumping to a record high of 231016 on Jan 2 Three weeks later at Tuesday's dose it had fallen to 261532 for a drop of 19433 points or nearly 7 percent from that peak In the bond markets meanwhile interest rates have confounded many of the expert! by reversing their decline of late 1989 pushed up by sharp rate increases in Japan West Germany and other foreign lands That gave rise to fears of a global interest-rate war that could significantly increase the chances of a recession "The recent decline in stock prices is in keeping with fundamental changes in the economy and the financial markets" said Abby Joseph Cohen an analyst at Drexel Burnham Lambert Inc "The pace of economic activity baa slowed and profits have declined Stock prices could decline further if other investors come to share our conclusions" Worries about the stock market of late have focused not eo much on another crash like the one that occurred in October 1987 or the mailer shock that drove the Dow Income From D1 VERO BEACH 3975 20th Street 567-5250 MAIN OFFICE FORT PIERCE 1600 South Federal Ilwy 464-4900 PORT ST LUCIE 7590 South US Hwy 1 878-3100 SOUTH BEACH FT PIERCE 985 Seaway Drive 465-4770 Sarah Purcell Stuart advertisers say The Real Yellow Frees brings the busmessT The ReaTyeUoiw Joe Victor ind Erroi SoUcy A1A dMD $10000 Minimum Deposit Ratal are aubject to change without notice Savings and Loan Association Pages Gla Timing The Real Yellow Pages" response nas been tremendous When customers look in The Real Yellow Pages and see our large ad gnd then it brings them into our coupon our business To reach Stuart call 220-3201 Vera Beach 231-2500 Or Ft Hence 465-7100 Remember The Real Yellow Pages It's Here Or Nowhere: OWftBAPCO If 1 were in this business vately I would get contracts the school system before having a press Moran said "Otherwise this make Merrill which analysts considered bloated by over expansion plans to reduce its staff by about 8000 by year end a recognition that been a sea change in the industry and that we are taking the actions gnkethaV required to recognize that" Merrill President Daniel Tully said in an interview Overall industry employment has shrunk by more than 85000 jobs since before the crash Securities Industry Association figures show don't think it's said Lawrence Eckenfelder of Prudential Bache Securities Corp in San Francisco who expects cuts to continue for 12 to 18 months Beyond New York regional brokerages are raising commissions and retrenching to cope with darfining individual activity Jones industrial average down 190 points last Oct 12 Though those experiences have shown that such calamities can hit with little or no wanting what many observers fear most is these days is a more prolonged period of finanrial malaise film the bear of the 1970s and early Such declines can devastate business and investment plana through steady erosion rather than sudden collapse So much time has passed since the last bear market end so much about the markets themselves has changed that no one is sure what 1990s-style bear market might look normal bear would last six to nine speculates the Hindi Organization an Old Tap-pan NJ investment advisory firm On the other hand the organization says given the modem influences of computer-program trading and neariy-instant international flows of money could be quicker and Should an extended decline in stock prices occur it would stand to deepen many economic worries now facing the country But a good many analysts hold out hope that it also would set the stage for renewed growth and optimism a few months or years in the future which in recent years had built up defense-related high-tech industries has been hit by the slowdown in defense spending In addition he said there is a shortage of skilled workers in the region because of high-priced housing Nevertheless DePass said New England still has a relatively high growth rate compared to other regions The Plains income growth was attributed to rebounding farm income after the drought and to strong durable and non-durable manufacturing In the Far West the report said growth reflected strength in manufacturing service industries and construction On the other hand in both the (best Lakes and Mid-Atlantic regions weakness in durable and nondurable manufacturing dampened growth Weakneu in motor vehide production in Michigan particularly affected the Great Lakes region the report A native of Hollywood thisbusii Victor brought his business Joe to Stuart to capitalize on the cityls growth Ana with the help of The Real Yellow Pages from Southern Bell thatfs exactly what done couple of years ago our representative from The Real Yellow Pages told us about Real Value" Coupons" explains Joe "Now almost everyone who comes in brings a Real Value Coupon from recorded negatives in the fourth quarter of 1988 at the end of that drought Hurricane Hugo which hit South Carolina the hardest also affected income growth in neighboring states because of extensive damage to rental properties Excluding the effects of the atom's damage personal income would have increased 94 percent in South Carolina and S3 percent in the Southeast region Rudolph DePass an economist for the Bureau of Economic Analysis said that automation has replaced much of the antiquated durable manufacturing and mining infrastructure in the Rocky Mountain region making thou industries more efficient and competitive But he said New England Southern Bell Yellow Pages 4 BELL HjTH COMPANY MiMwd hy BdKwNli AJwnMw PiiWMhiwiCarpnraliwi A 1 -J i -A 4 -A 4 r-' -A- A -4 -A A ft 4 4.