St. Lucie News Tribune from Fort Pierce, Florida • 17

m- JT -T t'Sf -i lj PAGE B5 JU FRIDAY March 30 1990 Two accounting firms have split he said had resistance from our clients because they thought we lost our identity and nobody recognized our name locally epjoying it you've got to address that I' The two accounting firms split on Feb 22 but the break entirely dean Oppenheimer and Creel created the fifth-largest accounting firm in Florida with a staiT of 40 accountants and 50 other employees under the Orlando name But soon after each exchanged vows on Jan 1 friction began eating away at the bonds of matrimony said Chris Fogal who was a managing partner at the Fort Pierce firm met up with two mqjor areas of David Sheets FORT PIERCE A New Day marriage of two accounting firms has already resulted in divorce but the managing partner for one of the firms is calling the split The merger of Fort Pierce-based Fen- der Fogal Johnson and Co with the Orlando firm of Geller Ragans James we had resistance from the people in our office who worked with me for years but particularly satisfied with the way the Orlando headquarters was running Fogal said got people coming to work and not AP Laserphoto i I I Plastic fantastic plastic bushing during a display of automotive technology in Detroit Du Pont spokesmen say its Troy Mich auto products division offers mors than 100 product Unas to meat automakers' expanding demand for plastics in auto production Bell demonstrates Du Pont "Delrin" STUART Accounting firm hires Steven Myrick Steven Myrick has joined Mehhch Roegiers Goldin Company an accounting firm in Stuart -Originally from St Louis Mo Myrick haa lived in Martin County with hia family for four yean A recent graduate in accounting from Florida' Atlantic University where he received an award as 1989 Outstanding College Student Myrick plana to take the CPA examination later this year Aa staff accountant at MRG he will gain experience in a fall range of accounting practices including taxes audit and estate planning PORT STJ LUCIE 1 Hague employees receive awards Gene Sandburg with Hague Water Conditioning of Port St Lude received a Hague Golden Circle award recently The honor was awarded by Hague Quality Water International a Columbus Ohio-based manufacturer of water conditioning equipment to recognize the top sales leader of Hydro-Clean equipment An awards banquet was held at the Hyatt Orlando on Feb 24 For his accomplishments Sandburg was swarded a gold Hydro-Clean ring Paul Hollingsworth with Hague Water Conditioning of Port St Lude received a Hague Golden Circle award and Beth Crosby with the company received a Hague Golden Circle award NEW YORK 1 Stock prices post first loss of week NEW YORK Stock prices posted their first loss of the week Thursday in light selling attributed to worries about rising interest rates The Dow Jones average of 80 industrials which had risen 8941 points over the previous three sessions dropped back 1599 to 272770 Declining issues outnumbered advances by about 8-2 in nationwide trading of New York Stock Exchange-listed stocks with 584 up 861 down and 618 unchanged Volume on the floor of the Big Board came to 13219 million shares down from 14230 million in the ous session Nationwide consolidated volume in NYSE-listed issues including trades in those stocks on regional exchanges and in the over-the-counter market totaled 15953 million shares CALIFORNIA 1 Lockheed chairman offers concessions BURBANK Lockheed Corp Chairman Daniel Tellep promised major concessions to big shareholders Thursday but predicted victory in his battle with Texas investor Harold Simmons over control of the company expecting a dear majority in every category of shareholder except of course Mr Simmons" Tellep said at a news conference after the aerospace annual meeting Simmons who owns 19 percent of Lockheed and his chief strategist Landis Martin said they believed the contest was too dose to call although Martin later seemed to acknowledge they had lost like a political campaign" he said you just have to come back again the next Simmons however claimed victory in pressuring Tellep to make conces- sions to the concerns of big investors seeking more input in running the company CONTACTTHE TRIBUNE Have an interesting story ideal? The Tribune welcomes your suggestions looWng for Information about employee promodone new businesses company awards and ottwr business Kama Send business news to: Hie Tribune FAtaN The phone number Is 4614094 In Fort Pierce and 35-7070 In Port St Lude From Staff and Wire Reports Fender Fogal Johnson and Co became Fogal Johnson Long and Co a 13-per-son operation Fogal said George Fender opted to stay with the Orlando firm had a number of clients in the Turn to SPLITB9 Small firms recovering from crash Stefan Fatsis thi assocuTie mass ft 1 ft NEW YORK As Wall big investment houses rein in their payrolls and egos during a broad consolidation the regional firms are recovering steadily from the 1987 stock market crash Profits slumped 28 percent industrywide last year but doubled at the smaller regional firms which specialize in trading stocks and bonds for individual investors and operate in limited geographic areas The reasons: regionals expand like the major houses during the heady 1980s have lower overhead costa and rely on customer service rather than on marketing newfangled investment products the battleship around is always a lot more difficult than turning a speedboat Raymond Mason chairman of Legg Mason Wood Walker Inc in Baltimore said Thursday Fourth-quarter performance showed regional superiority: the industry lost $92 million while regionals made $123 million The overall loss was the first since Turn to CRASHB9 Weak car sales take blame for slow spending John McClain THI ASSOCMTID PMSS WASHINGTON Consumer spending narrowed to a 04 percent increase in February the government said Thursday 1 Analysts blamed weak car sales for the slowdown and some said buying momentum was building in other areas of the economy The Commerce Department said per-' sonal consumption totaled a seasonally adjusted annual rate of $363 trillion the smallest increase since a 03 percent gain in October Consumer spending which accounts for about two-thirds of the economic activity jumped 1 percent in December and January The January increase was even stronger than the 06 percent originally reported Personal income rose 09 percent-to a seasonally adjusted annual rate of $464 trillion after a 07 percent increase in January which waa revised down slightly from 03 percent first reported The February income gain matched a 09 percent advance November spread between income and consumption growth in the near term is a negative (for the economy) because con- Turn to SPENDINGB9 1 of media vehicles aimed at helping advertisers reach specific audiences more efficiently than they can through mass magazines or broadcast outlets Some recent examples include advertiser-supported magazines for women at the beauty parlor or the office Critics say people soon will grow weary of finding themselves targeted for advertising in unexpected locations and say the out-of-the-ordinary media vehicles may not be reaching aa many people as projected Knife Fork is a creation of a 50-50 joint venture by the publishing company Performance Network Inc of Lindenhurst NYm and The Riese Organization a privately-held company that owns more than 800 restaurants in the New York area and haa investment stakes in more than 100 others nationwide Performance Network previously has published boxing programs for Madison i 1 4 VM 9 lK K- I 'i apparently has been sold we presumed we had been operating on that agreement since She said a West Palm Beach attorney James Miller who was representing the college and Palmetto broke the news of the disrupted deal to Community Television Miller was unavailable for comment Thursday Claude Rhea Jr president of the college and chairman of board of directors said Thursday no formal transaction regarding Channel 21 haa taken place with anyone even Community Television if you hold tight well have something special to announce on Wednesday perhaps Rhea said He said he waa advised by legal counsel not to comment further president Brian Brightly was out of the country Thursday arranging agreements for foreign-product Turn to CHANNELB9 Du Pont development engineer Marcia a tit steering wheel which uses a Channel 21 David Sheets TMBUNI aUSINKIS WMTBH FORT PIERCE WTCE-Channel 21 the yet-to-air public broadcasting station based in Fort Pierce apparently is under new ownership According to a news release from Community Television Foundation of South Florida Inc owner of public television station WPBT-Channel 2 in Miami control of Channel broadcasting license and equipment has switched from a Baptist-run West Palm Beach college to a California televangelist Community Television had reached a $15 million agreement in January with former Channel 21 owner Palm Beach Atlantic College and the station's management firm Palmetto Broadcasting to take over ownership of the Fort Pierce station But on Thursday Community Televi- -sion representatives learned quite to' Viper quite a surprise to us (Palmetto) signed a sheet of terms with us on Jan: 18 and we presumed we had been operating on that agreement since Carol Ucfco their surprise that they no longer had a deal with the college and Palmetto said Carol Licko a Miami attorney representing Community Television 1 The televangelist is Paul Crouch founder of cable Trinity Broadcasting Network' The network is based in Orange County Calif quite a surprise to Licko said of the announcement signed a sheet of terms with us on Jan 18 and AP Laserphoto Publisher restaurant group launch magazine with a menu Skip Wollenberg THI ASSOCUTBO mass NEW YORK Diners at more than 60 New York restaurants are getting more than a menu when they atop in for a meal A new venture owned by a specialty publishing concern and a company that owns restaurants is stapling the menus inside a new general interest magazine called Knife A Fork The magazine is being given to all customers who can read while they eat or take it home The magazine la being billed as just the ticket for advertisers trying to reach young go-getters who often spend much time watching TV If it is successful in New York its owners say they may expand it nationally But some advertising executives questioned whether the magazine has a dear editorial mission and said people going to dinner may view the magazine as an unwelcome Intrusion The magazine appears to fit a recent trend however which haa seen creation Chryilf Corporation chairman alts In a 1990 Dodge Viper sports car aa tha "Ctiryaler VOa" eix-dty tour makae a visit to New York Wodnaaday Tha promotion which highfighta effort to overcome Japaneae competition movea next to Chicago and Loa Angeles Turn to MENUB9 1 1 -n thctusV iirUriiiifct 1 1 i.