Birmingham Post-Herald from Birmingham, Alabama • 9

Skminghom hiMhwId Hiunday Octnbf 97 1994 WBMG cast in Birmingham that asks tough questions wish to answer any questions about the Retirement System's role in the acquisition A Park Spokesman Jack Claiborne said Tomlin and Knapp indicated they had no plans to eliminate any of the 2500 jobs in 21 states But industry anaylats said it remains to be seen whether the new owners will sell off chunks of the company in order to make it more manageable It was six years ago that the Re tirement Systems tried to buy a Montgomery television station that regularly covers state At the time it came un-intense scrutiny from news organizations and politicians who cited infringement upon a free press and other potential conflicts in preventing the purchase Reynolds said the current deal is different because the Retirement Systems is not buying Park only lending money to investors But if something went wrong and the inves tors failed the Retirement Systems would own the company's assets Retirement Systems executives are familiar with Tomlin having worked with him on a similar although smaller deal to finance construction of a convention center hotel in Montgomery In May board brought in New York investment firm Goldman Sachs A Co to locate investors who might want to buy the company They eventually narrowed the list down to the Tomlin-Knapp group which will pay about $3050 per share of stock based on the 23 million outstanding shares of the company common stock as of Sept 30 Hading of Park stock on the Nasdaq stock mariuet closed yesterday at (2850 per share up 87tt cento from Tuesday Park had profits of $18 million during the first nine months of 1094 compared with $188 million during 1993 It has been the best year in the com 32-year history and the quarter normally is its strong- esL From page A1 Fred Weeman vice president at First Albany Cb and manager of its Elmira NYM office said the sale seems to have few hitches really think that a very fair and successful transaction for the two parties" he said think the buyer is getting a fair price and the seller is gettiqg a fair The Associated Press contributed to this report He did say however that he does not expect major changes in personnel at the television station 1 think we are very comfortable with the group that had purchased us" he said 1 Nor did Broome whose station bills itself as having the only news Jobless From page A1 was the lowest since 1978 when modern methods for measuring unemployment were started A release from the state Birmingham office called the Birmingham rate the lowest in 25 years Robert Brantley labor market analyst was on vacation yesterday and could not be reached for comment Statisticians in the state office in said they could not ver-i was the lowest in a because the for-the rate have Yet there seems to be no limit of mostly hlgWy5ughtfter Jobs those in manufacturing Mercedes-Benz winch is building an auto-production plant in Tuscaloosa County received 62000 requests for Job applications during a two-week recruitment period in Au-Most of the applicants were Alabama the only state where the company advertised auto plant will not open it until 1997 It plans to employ about 1500 penile by 2000 Accompanying low unemployment rate has been a record number of people in greater work force About 418300 people were employed last month up 4100 from August The State Department of Industrial Relations said the state rate the counties that metropolitan area changed In the 1970s the Birmingham metro area included Jefferson Shelby Walker and St Clair counties In the 1980s Blount County was added and then at the start of 1994 Walker County was removed they said Walker County nas had the highest unemployment rate among the five counties in recent years Middle East moves 'tgma HflMfllnnnfVinle Mrirls WnHlinRI II HV IVMIB East yesterday: Jordan and Israel sign peaoe I iwy on vuvonai dovobt endhg 46 years of war Israel Rtro MHstor Yitzhak Rafah King nuBOQii of JCfoBn KBaooni ClTlon arsal on hand The aooord Is only the seoond forged by an Arab county shoe Egypt madB peace wHh Israel 1979 "Our generallcn and tie next wears the ones who wi transform IMs barren place Ho a feme oasis" Prime Mhstar Yitzhak Rabin of Israel fold 5000 guests "The has now come not only to dream of a better Mure but to reefese the 72yser-dd former general said starving on a onotme mneneu cnareo ana aspnaaeo mt the occasion King Hussein of Jordan said the foaaty was not a peaoe of paper rattled by thoae reaponsUe I mi be reaL No more deaths no more misery no more suspicion no more feer no more unoertoWy" Hussein said Clnton warns Arab hardlnere not to turn to bloodBhed zeal to kl hope and keep hatred alwa Wb cannot we must not wa wl not 1st them succeed" PLO chief Yasaer Arafat orders sWteh the IsreelaxMaled West Bank and Arab areas of Jerusalem protest SBBiy rareeanens teei sighted that the new teaty ghee Huseein a specU rate admHstaring Musbn holy sNbs JBnisalBm and dyvreB PLO dak About 1500 angry PLO supporters march through downtotwi Hebtoa Some set ablaze the flags of tareel and Jordan whto otters bum porera oi fit joroan rnonBrcn Syria sends hundreds of workers to plant flowsrs and paint curbs honor of ftsaidont Clnton's arrival today Onion's trip to Syria Is the by a president 20 years He hopes to draw Resident Hafez Asead back No the staled hraelSyrlan peaoe take t'f it it tl 11 It If Complete System With PC Monitor and Software! 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