The Island Packet from Hilton Head Island, South Carolina • 29

Classified Ads Harney Quinn Rukeyser Page 8 Page 8 Page 4 Page 4 THE ISLAND PACKET Business September 20 1985 SECTION Investors cautious but savvy By NANCY RUTTER Hilton Head is a long way from the crowded paper laden noisy chaos of Wall Street trading floors But the business of buying and selling stocks and bonds is brisk on this island According to several Hilton Head brokers investors on the island are a pretty savvy bunch amazing how little people know about their money" Joseph Owen financial consultant for Rob inson Humphrey Co said in an in terview "Most people find it easier to do nothing with their money than invest it "But people here are more sophis ticated than average particularly for people in the Owen said "Islanders read the Wall Street Journal They are astute about how to handle their But being smart about invest ments doesn't mean Hilton Head in vestors are adventurous with their money On the contrary island investors by and large are more likely to be in terested in preserving their capital than risking it have basically two types of investors on this said AllenI Robinson an account executive for Prudential Bache Securities Inc "We have speculators and we have the 'under the mattress' types people who are looking to hang onto what they have The bulk of our cli ents are the under the mattress types because they are According to William Roe first vice president and resi dent manager at Interstate Securi ties Corp retired persons tend to be more conservative investors be cause they are trying to maximize and preserve the money they have amassed during a lifetime "The kind of clientele brokers have here on Hilton Head are those who are not going to have the oppor tunity to make their money again" Roe said made it retired and now they want to pre serve what they have They want safety for the dollars they presently have to invest" A variety of investment literature is available PROSPECTUS ol to not contotl pl lh wW to IM ntil ratoUn tMrato oMc Man A'1 WaMtoatoo OC uapa to laciirtttoa Act of 1033 Mt iriMkrafannca la Nraay mM I J' TCurrpMtv aKaatmoni tiu Mm 1 06 ncorne untT I keystone I I TAX REE I UND I Ut viempt BMBHw jNr The easy lock in interest rates 0 In addition to safety however re tired investors want a return for the cash they toss into the financial are na "Retirees are conservative but they want interest and dividends from the money they said Thomas Webster an account ex ecutive for Merrill Lynch Pierce enner Smith Inc "The money they earn from investing is used to supplement their retirement in Webster said in the past the cob servative investor typically put mo ney into certificates of deposit called CDs the federally insured (See INVESTORS Page 2 C) Local TV issue stirs interest in Washington By NANCY RUTTER Washington lawmakers have been talking about Hilton Head over the past two weeks but the senators and congressmen haven't been making vacation plans Rather they have been looking at Hilton Head in terms of a television market and studying how the elimi nation of the ederal Communica tions Commission "must carry" rul es has affected the I only independent TV station WTGS (Channel 28) By now the must carry ruling is sue is a well publicized one here On July 19 a federal appeals court decided the so called rules which had required ca ble operators to carry all local com mercial television stations were un constitutional The decision sparked a dispute here between WTGS and the cable franchise Plantation Cablevi sion because the cable operator did not pick up WTGS when it signed on the air Sept 1 The owners of the new indepen dent said Plantation Cablevision re fused to carry the new station be cause WTGS represents competition in the market They called the move unfair and vowed to take the issue to the court room if necessary Plantation Cablevision officials on the other hand said they did not pick up the independent because ca ble operators are no longer beholden by federal law to do so As Charles Renwick vice presi dent and general manager of the ca ble company put it: "We are not trying to foreclose on their success but just because an independent station exists doesn't mean it has the divine right th be carried on a local cable system And so the debate has raged here at home But the issue of the affect of the federal ruling abolishing must carry rules is a national one Special interest broadcast groups like the National Association of Broadcasters (NAB) and the Asso ciation of Independent Television Stations (INTV) have been scurry ing on Capitol Hill to save reinstate or rewrite must carry rules since the July 19th ruling To help them in that effort NAB and INTV last week invited John Bailie co owner president and gen eral manager of WTGS to Washing ton Bailie was asked to tell his story on Capitol Hill the association lead ers said because the example of WTGS is one that shows the harm the must carry decision has caused nationwide think going on with John Bailie's station in the Hilton Head market is a perfect example of what is going on all over the coun try" Preston Paddon president of INTV told The Packet this week "What we have found since the must carry rules have been struck down is that all over the country small independents like WTGS who have just signed on the air have been hurt the most by the ruling "Depending upon the cable pen etration in a Paddon said "we are finding these new stations are either getting into financial trou ble or facing being put out of busi ness According to Bailie his pocket book has been pinched because area cable operators picked up WTGS He has maneuvered deals with six of the 11 cable systems in the area including Savannah and Tybee Is land Uablevision but he has had to pay a price for that privilege In some cases WTGS is paying $2000 a month to cable operators to be carried on their systems (See TV Page 2 C) Hanbury urges activism Sland rt99o Growth $400 mil $300 mil 1 Ck Jsl Son Goods I 25000 IQ Guest Services ('f Sr Permanent 1 1984 1 Population $300 mil xI 1 Al TV 17000 Son Goods I Gumi I SotIcos Gimt Gotters Permanent Q7 a Population lorVl MOnU 41 TV SOO ES3 on Goode I 4 Gun Sorrtceo Gumi OoHm BUSINESSES 1974 1984 990 No of Businesses 205 1200 1800 Employment 3800 14200 20000 Payroll $30 mil $152 mil $225 mil Value of Bldg Permits $69 mil $204 mil $250 mil Source Chamber of Commerce protections by Gardo Doughtie i Rose By TERESA HILL The island's business commu nity should stand united in voicing opinions on the proposed comprehensive land use plan especially regard ing suggestions of 11 zero growth Hanbury according to an executive for the Hilton Head Island Chamber of Commerce are a great industry a vital part of the economy" said William A Hanbury who last month became executive vice president for the 750 member Chamber are what drives the island" Hanbury's comments came Tues day during a luncheon session of the Hilton Head Island Hospitality Asso ciation a 71 member league rep resenting hotels restaurants and villa management companies The meeting was at The Hyatt on Hilton Head Island The Chamber executive said the Chamber is a lot of time on the (land use) plan and will hopefully have an influence in the best way for the business commu nity" Tourism industry leaders should not encourage negative comments about the business community Han bury said This is important because the tourism industry conducts exten sive promotional campaigns across the nation but sometimes neglects to promote itself on the island he said Hanbury said is working to make the Chamber more active and to take pro active stands or exam ple he said the business organiza tion should issue statements outlin ing its own views instead of reacting to the opinions of others need to let the community know the business community should be listened to" Hanbury said reason Hilton Head is what it is today is because of the business community and we've done a damn good job up to this point" The business community must not stagnate due to policies of no growth or zero growth according to Han bury said But he said the Chamber supports strict guidelines governing that growth "We want growth but we want sol id stable conservative growth the Chamber executive said Statistical projections of tourism revenues and the number of island businesses indi cate the number of guests visiting the island annually growing to 12 million by 1990 Estimates predict tourists on Hil ton Head will spend $300 million a year by 1990 Hanbury said He said the island marketing firm Gardo Doughtie Rose Inc prepared the statistical estimates for the Cham ber of Commerce The numbers indicate the number of people in the island's work force will be more than 20000 and the is land's annual payroll will jump to $225 million in the next five years Hanbury said The Chamber supports growth but Hanbury said he is concerned about the quality and type ol growth He said growth should be in keeping with developments already on the is land "With the outlet mall and the Red Roof Inn it is not necessarily the red roof or the traffic problem Han bury said We felt that type ol de velopment is not contiguous with what we currently have here That hurts the current marketing strate gy island businesses are using Hanbury said he is concerned that the town's proposed comprehensive land use plan is vague in connection with goals for island development "We need some definable limits Hanbury said "Hopefully the ordi nances which come out of the com (Sec HANBVRY Page 3 merger effects here said little rom Staff Reports The merger of two Citizens and Southern bank corporations an nounced this week will have little affect on customers at the three Hilton Head Island branches a bank leader here says Citizens and Southern Georgia Corp has agreed to pay $413 mil lion for Citizens and Southern Corp of South Carolina in a merger agreement worked out in only 10 days bank executives an nounced Tuesday of South Carolina serves 83 percent of the state's population with 122 offices in 56 cities On Hilton Head three branch of I ices on Pope Avenue on William Hilton Parkway (US 278 and at Pineland Mall serve the island According to Walter Gayle vice president of here on the island the merger will not affect customers or the running of the local branches "People will see the same faces and have the same Gayle told The Packet (See MERGER Page 2 C) Bloomfield named Board of Realtors head By NANCY RUTTER On Sept 1 Deborah Bloomfield stepped into a big job: the executive officer for the Hil ton Head Board of Realtors It was a challenge the lively real estate pro fessional exactly expect to handle A short month and a half ago Ms Bloomfield was the vice president of Nexus Securities Inc and she was happy in her job But former Board of Realtor executive Kay W'olfe departed her post to take on a sales posi tion at the Marriott Hilton Head Resort That left the job wide open and it caught Ms Bloomfield's attention seems sudden now that I sit here" Ms Bloomfield told The Packet this week from her new office at the Landmark Building on Wil liam Hilton Parkway (US 278 "But 1 heard about the job interview ed with the board of di rectors and got the job I gave three weeks no tice had a couple days of training and then was set off on my The 400 plus members of the Board of Real tors are in good hands however Ms Bloom field experience makes her well suited for the challenges ahead She was with Nexus Securities for a year where she was responsible for registration compliance and coordination with the Securi ties and Exchange Commission SEC and Na tional Association of Securities Dealers (NASD) for the public and private real estate offerings such as limited partnerships and syndications Previous to her job at Nexus Ms Bloom field was the SEC and NASD compliance offi cer for Atlantic Shores Investment Securities Inc on Hilton Head for two years Before coming to the island she worked at Branch and Associates in Atlanta a real es tate fnm dealing exclusively with foreign in vestors in real estate and did paralegal work with the large Atlanta law firm Smith Cohen Ringel Kohler Martin In addition Ms Bloomfield holds a real es tate brokers license and a securities principle license the license necessary to work as a compliance officer for public and private real estate offerings She is a 1975 graduate of the University of Georgia and holds a bachelor's degree in fine arts While Ms Bloomfield is somewhat shy about her accomplishments she's at ease with ad mitting she can take on the running of the is land's realtor group "All my jobs before have been administra tive and what good at My job here is to solve problems and answer questions And if I know the answer try my hardest to find someone who can" she said Ms Bloomfield said she feels equipped to do the job because she likes working ith people the number one quality that im portant in a job like this" she said "You haie to like people and I do takes some brains to do this job but it also involves a lot of guidance and follow through and you can I lie good at that il you care about the people you're working with" she said Along with managing the board monthlv luncheons board ot direr iner tings and newsletter solring problems and tieldmg questions Ms Bloomtield aid she wdl devote a good deal of time to recruiting new memliers to the Board of Realtors "We have to place a priority on recruitment because we are stronger in numbers she told The Packet "We need that strength to take a stand on issues like the tax reform package It we band together wo can make a difference Ms Bloomfield 1.