St. Lucie News Tribune from Fort Pierce, Florida • 21

The Tribune Friday March 30 1990 B6 Crash From B5 Menu From B5 were investing in the new magazine project The magazine will be published every other month The March-April issue is bring distributed at about 65 to 70 Riese-owned restaurants in Manhattan The restaurants are known by 22 different brand names including Charlie TGI and Each magazine will have the menu of the restaurant in which it is distributed printed in the center on a heavier grade of paper than the rest of the magazine The magazine itself was 82 pages and included a feature on personal ads a profile of actress Carrie Fisher and a story on what your underwear says about you Advertisers were told more than 1 million copies of the magazine will be distributed every two months based on customer counts Among the 10 brands advertised in the first issue were Miller beer? Martell cognac V8 vegetable Diet Coke and National Westmin- ster Bank A single four-color national ad costs $31650 a page although the' charge is lower fra- multiple-page -commitments Neste said Advertising executives compared the magazine to theater playbills which have a few pages devoted tq the specific production surrounded hy stories on theater hi general Square Garden events and sells advertising in the sports programs distributed at New York Mets baseball games according to Chairman Richard Neste Neste and Murray Riese a partner in The Riese Organization each declined to say how much they executive vice president of Boettcher ft Co a Denver-based brokerage seem to be facing the same trauma financially" Disgust with Wall Street engendered by publicity about turmoil at Shearson the collapse of Drexel Burnham Lambert Inc and problems at companies financed by junk bonds also may steer investors to local brokerage firms analysts said A public perception of greed on Wall Street Aided by current bestsellers such as at the Gate" and help the the client is going to be attracted to Jones raid Regionals are doing that and easier for them to move to that if thcyfre Long-term relationships with brokers are more likely to be found at a regional firm analysts said trusts Bill and going to get the business" said Donald Howard deputy chairman of Gray Judson ft Howard a Cambridge Maas firm that consults for regional brokerages Securities executives and analysts said with Wall Street layoffs 198Ts fourth quarter when the stock market crashed Preliminary figures show that for all of 1989 the industry mady $18 billion down 28 percent from $25 billion in 1988 Regional income rose to $215 millimi but still was the third lowest in the 1980s and far short of the record $546 million in 1986 Since the crash all forms of business are down from mergers and securities underwriting which fueled Wall boom to stock market Activity that regional rely on for retail brokerage business But regionals such as Legg Mason AG Edwards ft Sons Inc in St Louis Piper Jaffray ft Hop-wood Inc in Minneapolis and Raymond James ft Associates Inc in St Petersburg Fla all reported record 1989 earnings The two biggest securities firms Merrill Lynch ft Co and Shearson Lehman Hutton Inc which have huge retail networks both had disappointing years Together they have laid off more than 5000 employees in recent months Shearson recently dosed 50 retail offices bigger firms wanted to CELEBRATE OUR AWARD-WINNING YEARI From soaring total industry employment is down by more than 40000 become financial supermarkets and since the crash regionals are I think backing away from hiring top-flight brokers from that said Carter Jones large firms Spending From B5 big-ticket items expected to last more than three years dropped $146 billion due in part to weak automobile sales were still a depressant going into Niemira said on the other hand department store sales were doing quite well in March "There seems to be a momentum that is building in the non-automotive area Consumer confidence is in recent surveys Purchases of non-durable goods gained $109 billion while spending on services rose $196 billion Payroll increases were spread through all industry categories it said Government payrolls also were up reflecting the federal pay raise Burners have buying power but are not unleashing said Michael Niemira an economist with the Mitsubishi Bank in New York over the longer term building up savings is a positive for future consumption The spread contributed to a savings rate of 57 percent savings as a percent of disposable income compared with a 58 percent rate in January The increase in personal con- sumption which includes everything except interest payments on debt totaled $159 trillion Spending on durable goods Port St Lucie National Bank provides more service hours than any other bank on the Treasure Coast Just so you can get to the bank on time Call or visit your personal bankers at any of the following times Drive In: Monday-Friday 8 am 6 pm Saturday 8 am -1 pm Lobby: Monday-Thursday9 am 4 pm Friday 9 am 6 pm Saturday 9 am -1 pm You ve been talking We've been listening and providing services you need when you need them JjlFort St Lucie IL National Bank YoueBeenTalkingWeVeBeenLsteninc 10570 South US 1 Port St Lucie FL 407340-2800 407335-2979 Jfj SIMMS 41800 59500 69500 81500 102500 113500 38500 IBM Personal Wheelwriter Typewriter IBM Wheelwriter 10 Series II Typewriter IBM Wheelwriter 6 Series II Typewriter IBM Wheelwriter 30 Series II Typewriter IBM Wheelwriter 50 Series II Typewriter IBM Wheelwriter 70 Series II Typewriter IBM Pr nters Starting at USED TYPEWRITERS 7SNAUp IBM Laser 10 CPM Printer 196500 Satisfaction Ploo da rat hiM lastaMatlsa xeautlot Business Equipment Erie 400A Farm Mart Hoad 1 Foil Plaica Florida 466-3780 1600-488-6122 Offer expires April 15 1990 Must 4 namaiaiid Badm M-hS delays Rhea and Brightly met with spokesmen for Community Television and WXEL-Channd 42 a Boynton Beach-based public television station about purchasing Channel 21 Channel 42 said it was interested in a purchase but neither Rhea nor Brightly got back in touch with the station raid Sam Barbaro president and general manager of Channel 42 Meanwhile Community Television entered into an agreement with Palm Beach Atlantic College and Palmetto to take over Channel 21 Licko said But according to sources dose to the sale negotiations Community Television signed the agreement without knowing Trinity Crouch owned most of Channel broadcasting equipment The source who declined to be identified said Channel 21 very dose to being ready to broadcast All it needs is a studio for its production Licko said she heard name associated with Channel equipment more than a month after the agreement was signed Channel 428 Barbaro said he is relieved although somewhat per-to hear Channel 21 may no be a vehide far Community Television to cut into Channel viewership The news of involve- ment in Channel 21 jolted Barbaro is amazing news to he said the surprises never end?" Channel From B5 public television programming and was not available for comment Rhea said But Licko said the Jan 18 agreement with the college and Palmetto is formal and binding Whether Community Television intends to challenge any deal with Crouch and Trinity Broadcasting in court is uncertain now Just trying to find out more information and see what is going to Licko rid George Dooley president of Community Television was unavailable for comment Crouch also was unavailable for comment All calls to Trinity Broadcasting were referred to Colby May a Washington DC attorney and spokesman May is one half of the law firm May ft Dunne based in Washington DC His partner Joseph Dunne III is a board member of Palmetto Broadcasting Dunne too was unavailable for comment Channel 21 under stewardship was unveiled as the Treasure public broadcasting station last October It was scheduled to go on the air in November then December then January and then February before Palmetto delayed the debut indefinitely Between the broadcasting FRIDAY-SATURDAY NEW Nationwide Manufacturer-backed MILEAGE GUARANTEE PLAN 40000 TO 60 000 MILES RACE JACKET Split From B5 Of 4 Fbehawks FREE- ROTATION ANY BRAND 'Firestone Top-of-the-line FR480 60000 MILE BRAKE ADJUSTMENT ANDMSPECION ENT PREVENTATIVE MAINTENANCE ANALYSIS TREADWEAR LIMITED SERVIC 33 Lube S3 Oil Filter Switching from bachelorhood to marriage tack to bachelorhood can be expensive Fogal said he estimate at this time the immediate costs of the break to his firm But the real costa might be long-term Fogal said in an interview two months ago the merger would bring much needed expertise in various realms of accounting Fender Fogal Johnson ancrCo never had having Geller James Oppenheimer and Creel means we will simply keep from going after certain areas of accounting that require expertise we Fogal said this week The late Fender Fogal Johnson and Co started in the 1970s in Orlando but relocated its hub of operations to St Lucie County because of the booming growth new firm will occupy his old offices in Fort Pierce and Port St Lucie not embarrassed or hanging my head Fogal said of the split made a decision to merge which turned out to be a mistake It the first mistake I made and it certainly be the P18V70R13 WW MUi P18S70R14 BW STSS P19970R14WW P21V70R140WL 0000 P20V70R14 WW 74M KOOTORlSnMVtTMS nOSTGRlS M-M P21V70R15 BW S17S TSSS K3OT0R15WW TSSS Orlando area he wanted to Fogal said our Treasure Coast firm works mainly with local Fogal attributes most of the merger's failure to dissimilar management styles between the old local operation and the Orlando-based association He said he noticed tension building among staff members in Fort Pierce within days of the merger and shortly thereafter some employees talked about leaving you have to put the feelings of the staff before the Fogal said Kermit James a managing partner for Geller Ragans James Oppenheimer and Creel said his firm comment in detail on what led to the split was totally their decision in Fort Pierce" James said bottom line was they could function well without an office in He said his firm will maintain cordial relations with new firm Fogal said his firm will return the courtesy eChaaaia lubrication Drain old AdduptoSqtanawd New dimer (Standard) aKanddSOwt WaAlao Honor sAiw pwticipibng Fiwioni kMw icptaw your Ira on i piiau bos ay to not achaw tta guwanuid iwigi (SftOOO nto on FR4M 40000 to 55600 mbs on omtr hnskm ratals Acted tad Hi ray wry Sn uo tor i copy ol our tmdimr bndftf warranty and apaad riling and tra Ditty adornum Trcstonc FORT PIERCE PORT ST LUCIE 464-2421 340-3077 1605 Orange Avenue 1820 Bayahore Btvd SAME AS CASH on Firaatons paymant plan Minimum monthly paymant raquirad financa chargaa rafundad when paid aa agraad Opan an account today (I nos ji A.