The Beaufort Gazette from Beaufort, South Carolina • 18

SUNDAY NOVEMBER 26 1995 THE BEAUORT GAZETTE Businessinancial actory jobs exodus hurts the Northeast to the edEx union ground talks Devotion to Barbie dolls not just play anymore Turnover can foul mutual funds astDecisions OAdanticcyj Savings Bank Local folks local decisions national resources O199S Amencm Kinnnoil Corpgratmi Advice or ConstructionPermanent Loans public from financial ADVISORS performance for three years the study found that the compound total return for the high turnover group was 319 percent yet it reached 507 percent for the low turnover group Active trading and excessive trans action costs drastically reduced total returns of the high turnover funds While there is no single fac tor that is responsible for a fund's performance turnover is an impor tant element to consider when eval uating mutual funds lb minimize turnover rates employers invest a great deal of time and effort in selecting just the right employees Apply the same level of attention to your investment decisions and be rewar ded in the long term Jeff Baumhoer is an Investment Representative for Edward Jones Co By CAROL LAWSON Times News Service Retirement PlanningEstate PlanningBusiness PlanningInvestmentsInsuranceSeminars even on Thanksgiving Day edEx said the demands for 17 percent pay raises over three years changes in work rules and other details would cost the company $300 million The company wants to reduce vacation time change work rules and cancel profit sharing which the pilots say would cost them $19 million to $40 million edEx has offered a 4 percent raise in the first year of a three year contract with no offer yet for the other two years Johnson said the pilots should get the standard industry benefit packages because edEx is enjoying record profits The company had total profits of $298 million for the year on revenues of $94 billion edEx with 115000 employees worldwide delivers nearly 24 million items each working day On its busiest day during last holiday season the company shipped 34 million items By STEVEN GREENHOUSE NY Times News Service 2348 Boundary Street Beaufort Plaza 521 2081 986 1262 (Beeper) A Wachovia Corporation Member Company in her Manhattan apartment She has a mix ture of new and vintage dolls know each of my she said collection is worth a down payment on a house in Dick Tahsin the chairman of the next annu al Barbie convention to be held in May in Philadelphia keeps his dolls behind glass in the basement of his home in Bensalem Pa stopped counting at 1000 said Tahsin a fashion and graphic designer for PoloRalph Lauren in Manhattan I was 5 1 wanted Barbie but my mother gave me Tahsin a member of the Delaware Valley Barbie Club which has 47 collectors added: have colleagues at work who are into this too not just In metropolitan New York clubs exist on Staten Island and Long Island There is also a club in Bridgeport Conn At the BKNY meeting Marilyn Reich a doll dealer was showing her sister in law's Barbies to Gene oote who was admired for his Barbie expertise oote a theatrical director who has been an assistant choreog rapher to Bob osse dismissed one doll as little have a doll like that in my he said He undressed another doll before rendering an opinion "It says on her behind which means she is before he said 1962 to 1966 the dolls said and They had the same body but different heads" The Beaufort Gazette Serving Beaufort County since 1897! have increased costs to an unacceptable level The union has said there would be no strike edEx said it was ready if necessary to deploy contingency plans if union actions threaten to delay the Memphis based air overnight delivery service ALPA represents about half the 2950 pilots who earn on average $128000 a year edEx spokeswoman Shirlee Clark said she believed fewer than 750 would support any type of action plan to continue operations as she said think there will be no impact on the customer at this The pilots the only domestic edEx employees represented by a union have been seeking a con tract since May 1994 Talks stalled last month and a 30 day cooling off period was ordered by the National Labor Relations Board The two sides resumed talks Monday meeting taxes As much as one third of your capital gains whether you take pos session of them or reinvest them could go to pay federal and state taxes The more turnover there is in a fund the more capital gains you earn and the more money you lose to taxes unds with less turnover however allow net asset value to increase by accumulated growth rather than trading securities This delays capital gains taxes until you eventually sell your shares The Mutual und Letter recently computed annual returns for the 20 erjuity funds with the highest and lowest turnover rates Analyzing Seeking to slow the exodus of fac tory jobs top union officials of the Northeast are urging their states to join forces to punish corporations that move operations to low wage states and countries The AL CIO presidents of New York New Jersey Connecticut and eight other Northeastern states are pushing for laws that would forbid states to sign contracts with such companies and prohibit employee pension funds investing in them Denis Hughes assistant president of the New York labor consortium said idea is to help the economy of this region prosper by using the Business leaders and some state officials said they doubted the pro posal would get far with Itepublicans holding the governor ships in seven of the 11 states But the president of the New Jersey labor group Charles Marciante who is spearheading the drive expressed confidence that the legis lation could be enacted in many Northeastern states with bipartisan backing really maintain the life style of Middle America by con stantly having companies downsiz ing and moving out to other areas where they can pay employees a lot less and not have to pay as many Marciante said companies are just bailing out of the the Northeast totally and leav ing these states in a destitute condi At a labor convention last week at the Trump Taj Mahal Casino Resort in Atlantic City NJ Marciante helped persuade the other presi dents to press sympathetic legisla tors to propose such laws in their states early next year rank Montanaro chairman of Any business owner knows that employee turnover is costly The time and productivity used to con tinuously train new employees can hurt a business's bottom line Turnover also can hurt a mutual fund's bottom line With mutual i funds refers to the num I ber of times a security is replaced I during a year or example a mutu al fund that holds each security an average of six months has an annu turnover rate of 200 percent Another fund with a five year aver age holding period only turns over 20 percent of the portfolio each Qyear ftEach time a fund sells a security vTand replaces it with another cer ftjin costs are involved High turnover of securities within a the Northeast coalition of labor groups and head of the Rhode Island unit said: lot of states have invested in companies through pension funds or tax breaks and then the companies pull out of their states and leave a dev astating loss to the people who live there saying that we should impose economic sanctions kind of following the South Africa model of sanctions" Business groups bitterly oppose the idea asserting that this threat of sanctions would in fact harm the economy by discourag ing companies from investing in the region not a very well thought out said Daniel Walsh presi dent of the Business Council of New York State a coalition representing 6000 companies you start talking about imposing sanc tions in one region certainly not making a friendly hospitable climate for Donald Scarry an economic adviser to Gov Christie Whitman of New Jersey said the proposal send out an announcement of nega tivity to the businesses when no one needs a window screen manufac turer looking where to he said look at New Jersey and any one of 40 states outside the Northeast see the cost of moving into New Jersey is some what higher when you consider what this legislation would mean in terms of the back end cost of get ting out someday This idea will dis courage But the labor leaders maintained that companies would continue to be attracted to the region because it has so much skilled labor Under their proposal each of the 11 Northeast states would set up its own Industrial Retention Commission to investigate any com pany that announced plans to close a factory or lay off a large number of workers If a commission concluded that such a company was motivated by a desire to pay lower wages or bene fits then the state and all other Northeastern states that had passed the legislation would impose the sanctions If companies were transferring operations to states promising lower taxes or a larger package of state benefits that might also be used as grounds for sanctions labor officials said But if the commission found that the company was closing a plant for what the union leaders called legit imate reasons such as declining orders the company would not face sanctions Several union officials said the sanctions should kick in even when a company moves a factory from one Northeast state to another state in the region in search of lower wages or lower taxes David Griffin inancial Planner Registered Representative 525 9290 country AO Schwarz has opened a multi genera tional Barbie town house in its Manhattan store The ground floor is for collectors upstairs for children Of course collecting is a highly individual pursuit Some collectors will have nothing to do with new dolls They want their Barbies old the older the better They get especial ly excited over a vintage Barbie in perfect condition in the original box Ms McKendall of Mattel said that an original 1959 Barbie in her zebra striped bathing suit recently sold a auction for $4500 Back at BKNY the theme of a recent meet ing held in an apartment building in Manhattan was a historic period in Barbie's life the mod era A show and tell table was covered with two dozen Barbies plus a col lection of her friends and relatives all dating from 1966 to 1977 Among the most admired by the 30 members: Mod Hair Ken a Neil Diamond look alike rancie cousin who could be Tricia Nixon's twin and a Barbie that members call Mario for her long dark flip Barbie collectors have some neurotic thing about Barbie" said Virginia Walker the BKNY president and an architect by day I was a kid my older sister had Barbie and Ken so my mother got me Midge and Allen instead Midge is best friend and Allen is her boyfriend Boy was I Tbday Ms 400 Barbies live in a separate dark room no sunlight allowed We can help ensure that every financial step you take brings you closer to your long term goals American Express inancial Advisors Inc bnThe Associated Press MEMPHIS Tenn edEx Saturday rejected a last ditch contract offer and broke off talks with its pilots union which now plans to turn up the pressure by refusing to work overtime during the holiday shipping season As many as 300000 packages a day could be affected if the union pilots half of flying refuse to work long holiday hours or come on days off said Will Johnson a spokesman Tor the Air Line Pilots Association a plane is not where it's supposed to be the package can't just get off the airplane and move tqLanother airline Johnson said The pilots had been negotiating for their first icontract with the package hauler since the union i certification in 1993 im Martin vice president of corporate com mumcations for edEx said talks broke off the contract proposals would problem of gift giving for brides mothers to be Chanukah Christ mas birthdays weddings and show ers Shoppers can browse through the Red Piano Tbo's 12 rooms which display clothing provisions jewel ry books furniture prints original art and more Items that are select ed are recorded under the name When asked that age old question do you want for shoppers can simply tell family and friends that they are on the registry at Red Piano Tbo People can visit the gallery and choose a gift that you have selected Purchases can also be arranged by telephone The range of gifts and prices varies enormously and gift certifi cates are also available from $5 to $500 Red Piano Too also has a new selection of hand marbled cotton and silk ties made by Patricia Schad who lives on Dataw Island The store is located at the Corner Community 853 Sea Island Parkway The hours are from 10 am to 5 pm seven days a week Reputable Service CaringPeople Christopher Gibson Loan Originator The monthly BKNY meeting will now come T'to order BKNY? the Barbie Ken New York ''Doll Club There is only one requirement for membership: a deep devot downright maniacal passion for the world 'Jof Barbie We're not talking play Barbie is a serious enterprise for the grown who pursue it and it is big business forMattel Inc Barbie's manufacturer iji In a year when no single new toy is emerg as a must have Christmas hit Barbie at 36 stands near the top of the heap with new vim and vigor collectibles are the fastest growing rjpart of the Barbie said Lisa McKendall the manager of marketing com munications for Mattel The demand for collectible Barbies is so Mattel says that a few years ago it created an entirely new Barbie line just for adults Sales of those dolls totaled $35 mil rlion in 1993 and are expected to reach $150 million this year Mattel says Total Barbie last year were more than $1 billion New collectibles this year include limited sedition dolls reproductions of early Barbies dolls dressed by the designers Bob Mackie Christian Dior and Donna Karan Also new are a threesome of Barbies as Hollywood legends Scarlett O'Hara from Gone With the Wind Maria from The Sound of Music and Dorothy from The The Associated Press Shoppers observe a rotating Barbie doll display at AO Schwarz toy store in New York Wizard of Oz Prices for collectibles range from $20 to $500 (a typical child's Barbie is $6 to $30) The average collector is 40 and buys 20 dolls a year Mattel says Ten percent of collectors are men The company participates in the annual national convention but it has no offi cial connection to the 65 clubs around the ftT two ways: 1 It may mean more p5tixes and (2) it is costly in trans potion fees 'When a mutual fund sells a secu 'jjjily and realizes a capital gain the rlWn passed on to shareholders Shareholders then pay capital gains Tired of giving or receiving gifts fail to inspire or that make you feel compelled to return or obliged to keep to avoid offending the c'giver? wdtThe Red Piano Tbo a virtual department store of outsider folk and self taught art and craft items is launching the Red Piano Too Gift Registry The shop features works by more than 100 artists and hundreds more artisans More than 30 percent of thp merchandise and art is made locally or regionally tr There are quilts made by St Helena Island resident Tommy Mack jewelry by local artist Kim DeJong signed books by Pat Conroy and a selection of books by I £local writers about the Lowcountry Culture just to mention a few enthusiasm and almost childlike awe of the variety gave us the idea of setting up a registry so they can receive gifts they will always said Elayne Scott po owner of Red Piano Too A gift registry is a simple time tested practice that has solved the The Red Piano Too a shop along Sea Island Parkway on St Helena Island now offers a gift registry to customers who want a particular item from its wide selection of local and outside art works Sea island shop Rets up registry XVant something local and differ ent? i wf rL fcSPS A 1 JU 9 jr To 3r ymIK si I 1 wl i' At! 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