Sun-News from Myrtle Beach, South Carolina on October 12, 1996 · 33
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Sun-News from Myrtle Beach, South Carolina · 33

Myrtle Beach, South Carolina
Issue Date:
Saturday, October 12, 1996
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- er-w— — - - i J M-mW SATURDAY SecdonD DOW(lnduUriab) NYSE NYSE DIARY Inside Philip Morris takes cigarette promotion in new directions with 20-something magazine 2D Index -rJ O CompoaJtevofcjrrw: 459871 890 1985 avg comp voL: 42209640 i ' I MnBahle along the coastiAAUAAAA Cosmos applies for station In MB Cosmos Broadcasting Corp the Greenville-based parent to WIS-TV 10 in Columbia has applied for a tele vision station in Myrtle Beach but don't tiy tuning in any - time soon “The Federal Communications Commission is getting ' hundreds and hundreds ofap-plications so this could be a very long process” said Jim Keelor president of Cosmos ' “The odds are fairly long that we’ll actually get the channel” The FCC recently gave broadcasters a 30-day period to apply for existing unas-signea channels before new channels are allocated for digital television Channel 32 is the only channel that qualifies in this market “We wanted to take advantage of this because there v won’t be another chance” Keelor said adding that if Cosmos gets the channel it will be an independent station not affiliated with a network DA Kelly’s shops dosing on Strand DA Kelly's a discount clothing store is closing its Grand Strand locations The Myrtle Square Mall store is already closed and the Briarcliffe ' Mall location will close next month A spokesman at DA Kelly’s Cferthage NC headquarters declined to comment on the dosings The 33-year- old retailer has a history of financial troubles The SC Office of Music and Entertainment will name Broadway at tha Baach the state’s top entertainment attraction during today's Farm Aid concert in Columbia The Myrtle Baach Area Hospitality Association will hold its annual candidate's forum at 3:43 pm Wednesday at the Myrtle Beach Martinique Hass SMBBtfilng NstaMeT Cal 626-0280 or tax 626-035& rtiEmnMw i Retimes are lusting a housing boom along ths Grand 8trana and developers say they can hardly keep up with demand Farcus "Can you worit night?" Sting nets Tfl&ll Street repeat offenders Bu mjo— Bjr HDD TVWH THE ASSOCIATED PRESS WASHINGTON — A convicted murderer a drug dealer and a tax cheat are among the 43 stock brokers and promoters caught in a federal sting according to law enforcement sources and documents obtained by The Associated Press The sting is the latest evidence that Wall Street and its regulators have yet to eradicate a hard-core element of repeat offenders from its ranks The US Attorney’s Office in Manhattan on Thursday announced it was bringing criminal charges ranging from securities fraud to criminal contempt against a range of stock promoters ana brokers who made illegalpayments to a brokerage house staffed by undercover FBI agents " as were willing to accept payoffs in cash or stock to sell stocks in little-known companies many of which aren’t even traded on regular stock markets Also participating in the case was the FBI the Securities and Exchange Commission and the National Association of Securities Dealers Inc a self policing arm for broken The securities regulators brought their own separate civil ' chains against 28 of the individuals ' Brokerage industry records and interviews with regulators indicate at least four of those charged have prior criminal convictions ranging from murder and robbery to tax evasion In addition they snow that an equal number previously had been barred by stock market regulators from wonting as stock broken either permanently or temporarily “For whatever reason the regula- ton can’t seem to drive them out of 1 thi business” Richard Y Roberts a former SEC commissioner lamented Friday in reference to recidivist broken Roberts said while the majority of broken are honest and professional there’s a hardened element of “less than 10 percent” who continually get into trouble Among those chaiged Thursday is Edward Williamson 49 of Wichita Kan who was convicted of murder and robbery on Oct 16 1969 according to the SEC and NASD The regulaton said Williamson was paroled in 1971 : Katherine M Chop an assistant US attorney handling the cases tfMHiwSTING pagiZD Gearing up for Christmas? - ' Jwimfcw KanaTTw Sun Nww HaNoween IsstR the mein focus for most area retaNers but Mme are already gearing up for Christmas For example a row of pteaMc Santas and anowmenteoma over pumpkins and other Hallowaan morchandteo at the Saaboanf Commons Target More Retailers eye holiday shopping season By Joyce M Rosenberg THE ASSOCIATED PRESS It's the time of year for making bets: on football baseball the election and if you're in the retail business on Christmas Store owners and the analysts who track their business are trying to figure out how the big shopping season will turn out At stake are billions of dollars in rales and profits because this is the busiest time of the year at stores and -malls across the country So for industiy analysts are optimistic because of a healthier economy and stronger rales than last year But they’re nonetheless hedging their bets because in retailing there are no guarantees until the last store closes on Dec 24 Among the more cautious is Thomas Tashjian an analyst with Montgomery Securities in San Francisco W ire RETAIL Avr 2D Reports: Christinas looking good THE ASSOCIATED PRESS WASHINGTON — Wholesale in flation pressures eased in September while retail sales rebounded from a summer slump Investors greeted Friday’s news with glee believing the all-important Christinas season could turn out better than expected Financial markets snook off a week-long funk to push stock prices higher Tne Dow Jones industrial average was up almost 40 points in late afternoon trading The Labor Department reputed that its Producer Price Index which measures inflationaiy pressures before they reach the consumer rose just 02 percent in September down from a 03 percent August increase “Inflation remains at bay” raid Allen Sinai chief global economist at Primark Decision Economics in New York “Suppliers simply can’t pass on price hikes1 Meanwhile the Commerce Department said retail sales rose an unexpectedly strong 07 percent in September following a summer in which sales had fallen ()6 percent in June and 02 percent in August and managed only a meager July advance of CupercenU Tne betterthan-expected 07 per cent September advance left some economists forecasting that this year's all-important Christmas season will be better than first feared Technology said to foil phone thefts K 1 v V 4 Cloning costs cell industry By Mary Boyle 's' THE ASSOCIATED PRESS BALTIMORE — Briad Fahmy’s car was parked on a busy street for less than an hour when someone smashed a window and stole her cellular phone “It was still light out there were people streaming' j out of work I couldn't believe it" Fanmy said J Authorities weren’t surprised Cellular phones are ) being stolen at an unprecedented rate in Baltimore and in high numbers in most major cities often by drug dealers and other criminals who want phones that canT J be traced j The cellular telephone industiy which last year lost a j record $630 million through then and fraud is fighting j back with new technology to make using a stolen phone more difficult “Last year was probably the wont year for us” said Tun Ayers spokesman for the Cellular Telecommum-cations Industry Association “But we think we may be rounding a comer” Generally thieves steal a cellular phone and reprogram it with a stolen phone number a practice known as cloning Most of tne time the pawn whose phone number nos been stolen doesn’t realize it until tne bill arrives That means the criminal can get away with maybe a month of free calling before the phone company disconnects the number The greatest hope in the industry's high-tech arsenal against fraud is now “authentication'' technology which is being introduced in some markets around the country The industiy expects it be in place nationwide' within a year “Cloning as we know it today will become extinct with authentication" said Rosearina De Maria vice president of security for AT&T Wireless Authentication requires the phone to verify its identi- ty to a receiving station The phone com npany can jjrompdy recognize that the number is Being used "The criminal’s phone doesn’t stay activated as long 1 111 ill W fHM llmM ilnua T1m iLmi A ” 1 ley's office in New York City The industiy has also developed new devices that prevent thieves from reprogramming cellular phones -with stolen numbers and is training police and prosecutors to better fight the criminals1 In Baltimore as many as 22 cellular phones are stolen a day according to police The thefts are typically committed by drug addicts in search of quick money But the overall operation which includes reprogramming the stolen phones with pilfered numbers involves ' several layers of criminals Because thephones are licensed by the Federal Communications Commission federal agents are involved Phut smTHEFT page 2D r 1 I— — vatfir-Y-riMSferf W $ FINANCIAL ADVISOR Q’My husband and I are considering adopting a baby Are any of the costs tax deductible? l!ufc Sawyer YES!! Under the recent twa tax law changes there will be a $5000 ($6000 in special cases) tax credit for the payment of qualified adoption expenses For a detailed list of qualifying expenses or related information give us a call at 497-5218 or 237-0917 Sawyer & Company Burincm and Fhumctal Advisors I47M Orraa llwj hnrieyi Maud SCMyrOr Stark Office 497-S21I MMJ7-MI7 (On) NMJ7-MII SL‘3 YOUR QUESTIONS TO HE PROFESSIONALS T INSURANCE Q What arc the ways to piu far liquidity - hr (state taxcomeqaeeca? ' ' J' There area number of ways to plan for liquidity needi including but not limited to: gilt program lax favored savings plane and life insurance Each bee significant advamagei and disadvantage that your esiale planning team can discuss Il la important to remember1 the following four Axiom of Liquidity Planning At lb death of an individual there an bilge cash nerd in frustrate or destiny his or her estate plan Plan with certainly for the estate to have enough cash It's needed el a reasonable coil Don't postpone dealing with the pmMemil will only more difficult to solve Don't Ignore the problem it can lend to disaster end on survivors Chattel "Chuck" W Martino Jr LUTCF CLU MONY- Mutual of New York PAL Box J758 Myrtle Bruch SC 29576-3758 R03-449-78I5 ttOFBSIONAL v AUTOMOBILE Qi My ears battery jute died! It Is ewtv two years old nod when I checked water level I found M woe diy The battery weald not recharge and bed to be replaced Aren't btfti i free? i No - car batteries are not “ “maintenance free" Your battery ' contains s mixture of sulphuric acid end distilled water Hue mixture acts a catalyst and works with the plates inside the battery to produce and store electrical cunent which is used to Stan the engine end power your cur's accessaries when the engine Is not ‘ running In veers past "maintenance free These and did not allow inspection end addition of fluid The problem with this design was that it also did not allow for the venting of the tremendous heat end pleasure which can build up inside the battery under normal operating conditions which led to explosions! Now manufacturers have returned to a battery design which allows venting end requires periodic inspection and maintenance At “Grind Strand Nissan" we perform thi periodic battery inspection as well as die other services neriodic btiurv inuKriinn needed to keep your vehicle In peek condition CUT us today! Grand Strand Nissan 40701 1 wy 501 Myrtle RcuchSC 29577 803-239-2191 QUESTION f ‘ REAL ESTATE I a home de you a aew er wed At IWo out of three buyers choose an older home The biggest single advantage to buying someone rise's home is mure space for the money Abo prices tend to he more gewtgwite nuke them eager to edL Other sdvselagei may be mure established landteiping more stable taxes and the test of lime Pour coastructiou sridnm huids sp to the test A new home ha the advantage of sever being occupied If wed-built new home ihould give you hr fewer repair proMems phie fall warranties on qpiianccs Tne price may not be negotiable as w older home but sometimes the bulkier may be persuaded to throw in some extra features The decision of lew venus used is a basic me for many home buyen You need lo weigh die pros aad cons of both and decide what wiUlH your needs Mdnreftyh For mure iaformstioa piewe call 626-7676 ext 3073 Leonard Call & Associates 3591 North Kluge Hwy Myrtle Bench SC 29577 (993) U6-7674 (999) 299-7679 Fax (993) 449-6443 a i 'iil 1 Mk t ‘-wi ' f ' jr vf is “ 1 k'-- ' For more Information about featuring your bUalnaaa on Atk A Profeatlonal r Call Sharon BuckwaH at 629-0246 i '! mr i- uds

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