Anderson Independent-Mail from Anderson, South Carolina • 19

Ear do you have news fh ust sm Call our biuineu (864)260-1 1 reporter Dow NASDAQ SOO -1030339 276175 128331 2406 2334 595 NYSE volunw: 943535260 Naomi Snyder Anderson Independent-Mail Tuesday September 28 1999 Business Briefs to close 72 more restaurants By Jim Patterson ThaAinciitadftaM NASHVILLE Tenn is shrinking again The struggling family restaurant chain announced Monday it will close 72 restaurants in 14 states by Halloween Inc closed or sold 104 restaurants last year and had already closed 53 this year including one in Toccoa Ga as part of a restructuring plan need a certain (sales) volume level to be able to give the quality service we need to succeed These locations have the potential to get said Raymond Schoenbaum chairman of the board of the Nashville-based Also some of the leases were about to expire or time had passed the locations by in many The stores to be closed are throughout the Southeast and into Arkansas and Indiana The two in South Carolina that have been notified are in Greenville and Dentsville a company spokeswoman said The Anderson closed 1997 Four stores were told in Georgia Some stores though been notified yet of their impending closure also has agreed to sell nine restaurants in Charlotte NC to franchisees Graham Foods and Bud Foods as part of its effort to expand franchising operations No franchised restaurants are included in the dosings The company expects about $53 million in exit costs Mr Schoenbaum said some of the long-term savings from dosing the underperforming restaurants will be invested into the Captain D's seafood chain which he hopes to grow by 10 to 15 percent in the next 18 months the name of the company is sometimes people forget we also nave Captain which is doing extremely he said decided not going to shore up stores that are losing money take some of that money and reallocate it to grow Captain owns 665 Captain restaurants and 365 as well as several and Fifth Quarter restaurants In addition there are about 200 franchisees using the name and concept Upstate Concrete opens Upstate Concrete and Block Inc has opened its doors near SC 81 North and Interstate 85 Jimmy Gillis and Jamie Boulware own and run the ready-mix concrete company on Hampton Road The two have combined experience of 30 years in the ready-mix business said a news release from Upstate Concrete WFBC changes call letters GREENVILLE WFBC-TV in Greenville has changed its call letters to WBSC-TV The call letters were changed to reflect its national affiliation with WB prime-time programming a news release from the television station said Also the station wanted its call letters to contain the initials for South Carolina The station primarily serves the Upstate but has a signal in North Carolina The station carries programs such as Creek" and Ga jobless rate lowest in 26 years ATLANTA 39 percent unemployment rate for August was the lowest for that month in the last 26 years It dipped down from 41 percent in July the Georgia Department of Labor said in a news release Franklin County's was even lower at 28 percent and so was Habersham County with a rate of 31 percent Hart County was slightly higher than the state average with 41 percent unemployed Elbert had one of the highest in the northeast region with 66 percent of its population unemployed Elsewhere Economists optimistic about future Lodshesdl rnalkes map? dnanMEs By Gragg Fields By SethHettena TheAModatodPWM BALTIMORE Lockheed Martin Co announced a major restructuring Monday including changes in top management and a corporate realignment The defense contractor said it plans to sell eight businesses that employ 9000 people The businesses to be sold indude a New Hampshire firm that makes data recorders in airplanes and a Washington state firm that is cleaning up a nudear reactor site The businesses have combined annual revenues of $14 billion But some Wall Street analysts were disappointed that Lockheed the No 1 defense contractor in terms of sales decided not to tackle problems in its aerospace business which has experienced some costly setbacks and failures Lockheed which had 161000 employees and $26 billion in sales last year will reorganize into four core businesses the end of the year replacing five semiautonomous sectors that often competed with each other said spokesman James Fetig The reorganization will result in an unspecified number of layoffs at Bethesda headquarters looking at a compa- SAN FRANCISCO Can the American economy continue its mighty roll into the record books? The leading economists resoundingly say yes In a survey of its members the National Association For Business Economics sounds an irrefutably optimistic outlook Specifically the organization predicts that growth should run at nearly 4 percent this year and while inflation may see a slight uptick it will remain well below the level that sparks fear in the hearts of economists Meanwhile unemployment will remain at or near the lowest levels of a generation The survey findings were unveiled Monday at the annual meeting of the NABE in San Francisco It provided long-term insight against a backdrop of short-term concerns such as a volatile stock market and a weakening US dollar The fact that the expansion is now eight Sold a veritable economic eon is the point said Diane Swank newly elected president don't die of old she said die of The most fearsome imbalance of all inflation has failed to emerge despite a crush of classic ingredients like growth low unemployment and i strong demand from consumers for and services We think there are real reasons why inflation has performed so well not the least of which is Ms Swonk said For instance the Asian economic crisis of a year ago was widely expected to curtail US growth In fact the opposite happened when prices of imported goods fell creating a windfall for everyday households flip side of the coin of the Asian crisis was the coin that fell into the pockets of Ms Swonk said Spedalist Patrick Murphy right directs trades in Lockheed Martin Corp on the floor of the New York Stock Exchange on Monday Banks trigger gold-price Increase LONDON A group of European central banks triggered the biggest one-dav increase in gold prices in 13 ryears Monday with a surprise plan to put a cap on their planned sales of gold bullion Gold peaked at $285 an ounce -in London Monday more than $16 above the price of $26860 in late trading Friday The price fell back to $27890 in late London trading and was $28190 in New York late Monday The buying marked a sharp break from recent pessimism about long-term prospects which was accompanied by 20-year lows in the price of gold on world markets Greenspan: Crises can be avoided WASHINGTON Future Asian-style currency crises could be avoided or their damage at least lessened if developing countries strive to improve the soundness of their financial systems Federal Reserve Chairman Alan Greenspan said Monday Mr Greenspan in a speech to financial leaders gathered for the annual meetings of the International Monetary Fund and the World said Christopher Mecray of Deutsche Bank Alex Brown is one of the steps taking to flatten out a structure that has kind of gotten out of Changes were also announced at the top Robert Stevens vice president of corporate strategic development will take over as chief financial officer replacing Philip Duke who is leaving the post after less than a year Mr Duke was named to an executive vice president post in a new division responsible for improving the efficiency Arthur Jo of the information and services sector replaces Mr Stevens Lockheed said the actions would not affect the earnings outlook for 1999 and 2000 Sale of the eight businesses is expected to offset the anticipated $1 billion in lost revenue Lockheed's reorganization effort which was launched in June comes in the hopes of restoring sagging profits and investor confidence The company reported a secondquarter loss in July of $41 million due in part to launch failures acquisition companies over the last BURGL'AR AI5ARM Markets Exchanges SC Livestock SC CommodHies FKEKMUnM REISJI9S WBWWfflTCMT! 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Monitoring Sorviot Only $25 Por Month To Notify Poticoft Fire DopL LNotimo Warranty on aH parts A labor June's formal Shoppe Is Moving To Our New Location September 27th 108 Anderson Ave Anderson 225-4059 Hours: M-F 10-5 Closed Wed Sat 10-3 aaalfc maarrayartad hr ta WM- IGOMe CMhaHcaatormkataat2fc 1 70 prtccadtataa toiaafraataniu Mata ta tan Cnta Dapataad af iptafcf ptoac Mi riwtata btac Rtafc ape MriUd to ab Meet mK ta 1 1 aedta vary tat As eanaad ta mm earn dm data tatftlaaarbawaita Faada Stan mi atar edma atoMrTflO tom Min ad Mr cataa 2X04X0 ta fcFbntotaad tom 17X0 Malta 21 AO KTfcLtaablQXO cmnlouf ujparMdMftMaadtoaa CUOMO hob take Tta a 11X0 af wa Ml mk wto an Otar caw 12 prat 10 pat- attain mfOOba II east li aacat 21 aareat tain atar COO la 45 pace STtamat farad: taie mi at can I paca paced 4 JEWEL TOMMIE 224-1953 OR 1-800468-6459 Crime Alert Security Inc A PROVEN LEADEN PON OVER 30 YEARS Bank said that the serious global financial crisis of the past two years dramatically underscored the need for developing countries to pay attention to such issues as how they regulate their banks and whether they are pursuing the correct policies needed to build sound financial systems Banks easing loan rales WASHINGTON Some banks appear to have eased their lending requirements creating an increase in shaky loans and showing that banks are counting too heavily on the economic boom continuing Federal Reserve Gov Laurence Meyer warned Monday Mr Meyer's cautiously phrased remarks in a speech to bankers were the latest in a series -of recent warnings by government officials about standards ofbank lending Mr Meyer himself made a similar warning -this spring and the Federal Deposit Insurance Carp said last month it was keeping a watchful on banks and other financial Institutions Hfnat lend to businesses affected by the slump in prices for farm and industrial commodities "states looking at bank cards MONTPELIER Vt State attorneys general from coast to coast rare investigating whether banks that issue credit cards are breaking the law by selling data on spending habits and credit-i-worthiness to marketing firms Marc Violette spokesman for New York I Attorney General Eliot Spitzer said dozens of states have joined the probe Vermont New York Illinois and California are said to be tak-! ing lead roles I Mr Violette said banks be breaching the trust of their customers by selling informa- tion about their buying patterns their credit limits and other personal The information is sold to marketing compa-1 nies that use it an effort to generate sales ind then pay the banks a percentage from any tew sales they make based on the information EaaFLATCFyihHMMO MKfcMVIfcltaataaLpBliOO 1240 CKENk tataa Oafeta UjOO 8KSK3HE msLm HOOLaas MO parted ltt-1300 ta talaalf didmto27X17S0- tar 2UML atar 710 ta 1 10002100 Faaia atara Matas mi Lap I M0- 250 ta 101X0-121 XOsZSOJOO fee BOO 11700 ta 120ATiOOJM ta BOO 10100 dm toMXO: KO400 ta 0550-OlQlta 0040(400400 ta 710000 £50X092X0 460500 ta 75X045X1 tow 17X041X1500400 ta 71009101 ta 400MX1 Mb dm to MX M0700 ta 67X077X1 Mb darn to MOOsTOOCOO ta 63X072X1 Mi data tofOXO C00900 taSOiOOilll daaa to S101 tail 100 ta NL0M07X1 300400 ta 7100 con 400900 taMJoaun Rinata M0 fcM2MaiA0 45 FttOOmiltafi PEWT Mato tom 16X0 FU101KMB ta ta ta HOP 1400 rllOO LVIfewtoUaiW IBMMolWglslBfeiai PAYMENT RATE AMOUNT TERM APR CONSOLIDATE INTO ONE OW MONTHLY PAYMENT Slow credit proc Up to of Cash outtoRb Home improves RelinancetaB Newliome pure Construction to" Debt consolidat Mobile home wi 70 8403 $22470 $25000 180 8034 $31458 $35000 180 70 7765 $50000 $44941 180 70 C1007100S 400700 ta Mb Cl 004100 Madta ato Lna 2 lOOCOO ta C7S010501 100400 ba 7WOC101 400900 ta ClOO HA C00400 ta 15007101 C00700 ta 51004101 700100 ta ta ClOO 7560 $75000 $67412 180 70 M7A 14400 $90000 7493 dean 12X0 MEET POTATO 40 bcb0aedd 11001500 FMrtaUXO into 12X013X0 TOMATO SbCtottaRpatahl In 12X0 Mad 11X0 180 70 $80894 22 -J "-iut i- an i a-- -mm 1200 Woodruff Rd Suite c-U Merovan Executive Center IGreenville 1 -800-209-1533fwww Ichoicemortgage com LOCATIONS Columbia Florence Charleston Myrtle Beach HRR Orangeburg Sumter Greenville Columbia 2 bn and Larp 1 200 ta MSOCSMTSmCO ta 7100CM1 ta Ml ta dan to 7101 50400 ta 7400401 ta MX097XO 400440 ta 70X040X1 hv 9401 450600 ta 7Mi talijoa cmcoo ta cioonai flaabr da toC401 C0P700 ta ClOO 72A 700900 taS4009401 ta 57X1 feaBMO 55004400 to 1 300400 be 4100-7101 dm to 4M1 400500 ta 45X072X1500600 bailX097X0 Mata RtailO ad Ian 2 200300 ta 710005X1 300400 i ta 410077X1 dm to 4401 400500 ba taaL 0 to 4401 400500 ba to COiOOcJ 100900 ta BbMMlOOsXO 42X07401 SCXO70X1 a 1 4001 IX batab 61 reonTOVTOUS nwias PpWta-Mat total 7 Jt mrn said rises 2406 Wall Street bargain-hunting and a stronger liar sparked a modest recovery Monday from huge stock market selloff rhe Dow Jones industrial average rose 2406 1030339 halting a four-day retreat but fined well below its highs of the day Main ta Lai 1 70 1250 ta mm to adrifla a aadka toad M0XP4ftX0patad taritaM adtoaW CaaCaC eta Lap I 10501271 ta ma to atom am a 100410 ba Mae UOXOTOOOpa a taSn aid Lap 11 7501475 ta mu to aMb an am ta 10240 ta tSm 440X0550X0 pa a Madtoa 1 425950 ta jmc to ta am ta 100425 ta cataa 410X0 4100 par CMC 2 590946 ta aafe aH am ta 40300 ta cataa 00X0 420X0 pa Haga fir ta laaatob 171 ink ap (If mmommmmry With This Coupon Only DANGER SIGNALS OF PINCHED NERVES 1 Headache! 2 Shoulder Pain 3 Arthritis 4 Lou Back Pain Diixtneu Numbneu In Indigestion Hip Pain Neck Plain hands Constipation Pain Down Leg Rifle me ere eeeeptlsg sem petieuts me erne meed fad qr eiHgetieu Have you ever wondered if chiropractic could help your condition? Wise Chiropractic 24 East Main St Williamston SC 847-6020 Caw JUS wU pa ILY Hn atta Laad-49etapab -S179ia ca dtanl SS-taiJO MaLNHNtot tarMHMfKHmbCd Mar CMS to au NV Mat at Dr Jack Wise Dr Marylouise Schultz Wise Chiropractor 4101 Prid 1701 lUglici uj a icimn wiuniwnii iv sey In other markets a stunning $14-an-ice rise in the price of gold futures prompted urge by other metals while hog futures anced to a three-month high Camd toptotoaaH aaatoy taia aaim Ua Mala: 2XOU5 Mta Uw 47 pacaMO faaato mum fern bai 220310 ba 1X02X1 IL1 41 Mfearaad caarn toai 22040 ta SmuT Habtanw Capnol 04.