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Ledger-Enquirer from Columbus, Georgia • 27

Publication:
Ledger-Enquireri
Location:
Columbus, Georgia
Issue Date:
Page:
27
Extracted Article Text (OCR)

Ledger Enquirer Business Thursday April 6 1 995 Airline chairman introduces Coke competitor during stop in Atlanta Associated Press ATLANTA Virgin Atlantic Airways Chairman Richard Branson entered Coca hometown with his own new competitor Virgin Cola overtake Coke around the rest of the world in my the 44 year old entrepreneur predicted doubt do it in where Coca Cola and Pepsi Cola dominate Branson was in Atlanta mainly to tout a long sought agreement giving Atlanta based Delta Air Lines entry into Heathrow Airport via Virgin Atlantic Airways He presented Delta Chairman Ronald Allen a Coca Cola director with samples of Virgin Cola give one to Allen said with a laugh referring to Coca Cola Chairman Roberto Goizueta Sale of WLTZ falls through End of minority tax certificate program sinks the deal station is no longer for sale By Mick Walsh Staff Writer Just when the staff of WLTZ TV had memorized the lyrics to Eyes of comes the news that the proposed sale of the station to Houston business woman Ruth Allen Ollison has fallen through The $43 million deal which was initiated a year ago with the filing of paperwork for ederal Communications Com mission approval went up in smoke Wednesday Broadcasting (of Sa vannah) will continue to own and operate Channel said Bob Walton the vice president and general manag er transfer of the station to Piney Creek Broadcasting company) has been called The reason: Recent Congres sional action ended the minori ty tax certificate program Un der that program minorities (Ollison is an African Ameri can) received tax breaks as an encouragement to purchase ex isting radio and television sta tions Snuffed with the cancellation of the sale was a proposed marketing agreement between Ollison and WXTX TV owner Jack Pezold in which Pezold would make all programming decisions for WLTZ an NBC affiliate Under the original terms of the sale Pezold loaned Ollison much of the money with which she was to buy the station That drew complaints from both WRBL and WTVM Each filed a petition to deny the application for assignment of the license to Ollison arguing that in effect Pezold would control two stations in the same market Walton who was scheduled to retire once the sale was finalized will remain on So too will program director Ron Bartlett are already under way for future program ming and enhancement of pro duction said Walton Ollison who recently left her job as a news producer at KHOU TV in Houston could not be reached for comment Walton said that the station is no longer for sale Dollar takes another battering US foreign banks buy about $2 billion of American currency but financial markets shrug off rescue effort Associated Press WASHINGTON The Clinton administration this time joined by Japan Germany and rance mounted another effort Wednesday to rescue the dollar but financial markets shrugged it off and continued to batter the US currency The ederal Reserve and the other central banks spent about $2 billion buying dollars ac cording to estimates from cur rency traders The massive dollar buying the first coordinated effort since March 2 had only a short term impact Almost im mediately after it was over the dollar resumed sliding against both the Japanese yen and the German mark In late New York trading the dollar was quoted at 8604 yen down from 8621 late Wednes day and at 13725 marks down from 13785 on Tuesday the bearish market sentiment towards the dollar this is just a license for curren cy speculators to make said Michael Evans head of a Boca Raton la economics consulting firm Since the first of this year the dollar has lost about 13 percent of its value against the yen and the mark Private economists said it was hard to predict how far the dollar could decline Any quick turnaround they said would require higher interest rates on the part of the ederal Reserve But since US financial mar kets so far have taken the decline in stride ana lysts said it was unlikely the ed would feel compelled to boost interest rates an eighth time a move that some fear could throw the nation into a recession The dollar buying on Wednes day marked the second time this week the ed has inter vened It purchased an estimat ed $15 billion to $2 billion in dollars on Monday Analysts said that the amounts governments can ex The massive dollar buying the first coordinated effort since March 2 had only a short term impact Almost immediately after it was over the dollar resumed sliding against both the Japanese yen and the German mark pend even when acting togeth er pale in comparison to the $1 trillion daily market in curren cy trading almost never does any good and it is not a particular surprise that it is not doing any good this said David Wyss an economist at DRI McGraw Hill in Lexington Mass Economic indicators take sharpest fall in almost a year Economists deny that country is nearing a recession Associated Press WASHINGTON The main eco nomic forecasting gauge re corded its sharpest drop in 19 months in ebruary Big stock market gains prevented it from falling even further signs point to slower growth and moderation of in flation said econo mist Carl Palash of MCM Mo neyWatch financial advisers in New York City are no signs of a The Commerce Department said Wednesday the Index of Leading Economic Indicators declined 02 percent matching the drop of July 1993 The index had been flat in January after rising 02 percent in December The index is designed to help predict activity six to nine months down the road Three straight moves by the index in the same direction are consid ered a good indication of where the economy is headed The price of stocks was one of only three of the 11 components that advanced in ebruary The stock market which has been rising strongly fell 12 points at the opening Wednes day but later came back The Dow Jones industrial average closed down 104 Analysts said the Commerce Department report had little impact but the falling dollar was giving investors the jitters dollar risk to inflation must be said Allen Sinai of Lehman Brothers The government intervened on currency markets for the second time this week in an effort to prop up the value In another report Commerce said wholesale inventories in creased 12 percent in ebru ary and were up 15 percent in January The January figure was revised upward from the original estimate of 06 percent Analysts said higher invento ries could lead to a cutback in production but do not portend a severe economic decline NEW YORK STOCK EXCHANGE Companies discuss building phone network Associated Press ATLANTA BellSouth Corp and Northern I 7 Telecom Ltd said Wednesday I they are in talks for an agree ment to develop a personal communications systems net work in three Southeastern I states BellSouth through its subsid iary BellSouth Personal Com munications Inc has been working for more than a year to design a wireless network for digital telephone service company recently received fed eral authorization to market the service in North Carolina South Carolina and eastern Tennessee The combined market has more than 11 million people a If the talks are successful I Toronto based Northern Tele I com would build the infrastruc i ture including antenna sites and base stations The prospec tive deal has been estimated at $100 million Div PE Safes Qs Chrrg A AAR 48 21 1073 12 12 12 ACMln 90 1813 8 8 8 ACMOp 66 395 6 6 6 ACMSc 90 3241 7 7 7 ACMSp 75 1707 6 6 6'4 'Ze ACMMD 126 740 8': 8'4 8 ACMMl 108 306 77a 7 7 ACMMM 72 282 7 7'4 ADT 16 1470 12'4 11 11 ALAC 46 14 2722 41 40 40 AGCOs 04 5 718 33 32 32 AKStee! 5 1006 26 25V: 25 AKStlPf 215 6956 28 26 26 AMR 141 7677 66 66 ARCOCh 25 16 249 44 44 44'4 ASALtd 20 1597 47 46'4 47'4 ATTCap 40 1 2 593 26 26 26 SPINOS AT8T 132 17 11964 52 51 51 Ameritch 20 4029 42 BellAtl 28 1 7 4043 53 54 BetlSO 276 14 X6089 60 60 60 '4 Nynex 236 22 3163 40 40 '4 PacTel 218 11 X10336 30 30 30'4 '4 SwBell 165 15 4171 42 42 USWst 214 13 3559 41 40 AbtLab 84 20 17025 38 37 37 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the stock divided by its earnings per share 3 Sales: Indicates in round lots of 100 the number of shares traded 4 High low close and change: Shows the peak and depth reached by the stock on the preceding day the closing price and the change indicates whether the closing stock price was up down or unchanged 123 4 I I I BlklQM 90 353 1 2 '4 BlklQT 70 1032 7 '4 BlkMTar 61 897 10 10 '4 BlkNY08 86 230 14 14'4 14 BlkNA 113 625 10 10 BlkStr 70 2125 8 8 8 BlkTT 70 1624 9'4 9 9 BICkHR 112 29 1047 42 41 41'4 Block 10 23 7543 27 26 27 Btythlnn 775 21 20 '4 Boeing 10 13 22542 47 45 47 2'4 BoiseC 60 743 21 20 20 BoltBer 1016 12 12 12 Bombys 23 7602 14 13'4 14 1 BordCh 69280 1147 14 14 14 Borden 30 3543 13 13 BorWAun 60 14 2774 25 23 25 I BorWSc 624 15 14 14 BostEd 176 12 581 28'4 BostSc 20 401 15 14 Bowatr 60 447 24 24 24 BoydGmn 318 15 14 15'4 NOTE: Both the American Stock Exchange and Nasdaq listings are organized in a similar manner although they don't include the PE ratio high and low Burtlnds 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28 EmrsEI 172 18 1776 67 66 67 irstar 12 9 401 30 30 DevIDv 216 20 538 27 27 Emphesy 60 9 1057 33 341 ishrSd 08 14 430 30 29 30 Dexter 88 15 312 22 22'4 22 EElChiln 57 382 23'4 23 23 1 leetnc 16 9 4306 32 32 32 Diagnst 53 3217 21 20 21 Emplca 09 140 8222 7 7 '4 ReetEn 56 12 998 23 23 23'Z: DiagPd 48 30 402 37 36 37 ELaMod 26 58 1404 12 11'4 11 lemng 12 16 574 23 23 Dials 60 16 658 25 25 25 Enersis 84 432 26'Z: 25'Z: 1'Z laProg 202 14 2516 30 30 DiaShm 56 11 705 27 26 27V EnglhCp 48 31 39773 40 37'4 38'4 9 Rower 83 20 241 18 1 7 18 Diebold 96 17 1507 36 35 35 Enron 80 18 2875 33 32'Z: 33 luor 60 21 2441 50 49 50V: Digital 11175 39 38 39 EnrOGs 12 25 2612 23 23 23 oodmk 952 4 4 Dillard 12 12 1403 27 27'4 27 Ensrch 20 14 1733 15 15 15'4 rdHpf 20 515253 64 25 DimeBcp 6 948 8 8 8 EnscPf 132 316 20 20 20 rdHpfD 202 1466 25 25 25 DiMonwl 1601 15 15 15 Entergy 18 14 3808 21 21 21 ordMs 104 5 26510 26 26 26'Z? Disney 36 24 7227 55 54 54 EottEng 85 933 14 14 14 ordpf 42 760 87 86 87 Dole 40 26 401 28 29 Equifx 62 21 2919 35 34 34 ordpfB 206 556 26 25 26 DolirGns 20 25 867 26 26 26 EqtCos 20 13 1886 22 21 22 ostWh 74 19 984 33 33 33 DomRes 258 13 2221 37 36 37 EqtResc 118 1 6 248 29 28 28 oundH 28 1946 31 31 31 DRsBWn 16 387 19 19 EqtyRsd 212 551 26 26 26 oxMHIt II 610 19 18 19 Domtar 438 8'4 8 8 EthanAln 12 394 21 21 rance 71 415 10 10 10 Donltey 64 20 1319 Ethyl 50 13 1170 10 10 10 rannn 18 440 19 Dover 104 18 1147 66 64 65 Eurod 96 533 12'4 11 11 rkEPb 19 558 28 27 27 1 DowCh 26 25 8414 72 71 72 ExcelRI 172 275 18 18 18 rkQst 19 1232 31 31 31 DowJns 92 20 702 37 37 37 Exel 132 17 1239 46 45 46 rnkRs 40 13 935 39 38 39 Dravo 69 469 11 10 11 ExideCp 08 23 6073 34 33 33 rMeyer 118 625 29 29 29 Dressr 68 19 5919 22 21 21 Exxon 30 1 7 21618 68 67 68 MCG 60 58 3806 22 21 DryStrt 73 548 10 10 10 MCGpf 175 1652 25 25 25'Z DrySM 66 567 9 9 MCGpfA DuPont 188 1631120 63 61 63 1 MC 13 268 60 60 60 125 415 22 22 22 DufPCp 16 470 11 10 10 MCGd 05 341 4 4 4 rptMc lll 50 1380 18 17 18 DufPUtil 72 1696 8 8 8 PLGp 176 13 7424 37 36V: 37 MRP 24 19 1037 15 14 15 remont 76 5 387 19 18 19 rtrCps 83 15 318 22 22 22 ruTrail 651 3 3 3 ruttL 33 884 26 25 26 GATX 16 12 539 46 45 GTDvMk 45 746 8 8 8 GTEuro 35 253 11 11 11 GTE 188 13 8905 34 33 GTEDEpfY 219 632 25 25'4 25'4 Gabelli 115 594 9 9 9 GablRsd 18 15 282 18 18 18 GaleyL 8 719 127: 129 64 12 '4 Galoob 4 257 6 6'Ze Gannett 136 16 2348 53 52 Gap 48 1 5 3620 33 33 GaylEnt 32 34 1034 24'? 23 GenCrp 60 319 12 12 12 Genentc 46 2237 48 47 48 GAInv 165 303 1 9 19 19'Z GnData 1699 14 14'4 14 GenDyn 15 14 858 48 47 47 GenEls 164 20 11760 54 54 54 GnGrth 164 30 x690 20 1919 GnHost 38 18 550 6 6 6 Gnlnsts 17 5739 34 33 33 GnMill 188 23 2923 61 60 61 GnMotr 80 7 23871 44'4 43 43 GMotpfD 198 279 25 24 24 Va GME 52 23 5590 39 38 39'z: GMEpfC 325 749 58 57 58 GMH 92 16 865 40 40 40'Z: Va GPU 18 24 1082 29 29 29 GeniRe 196 17 592 133 132 133'Zs Gensco 1142 2 2 2 Genesis 24 684 30 30 30 GnvStl 886 11 10 11 Va GnRad 19 424 5'z 5 5 GenuPrt 126 17 925 39 39 39 GeonCo 50 14 317 28 28 28 GaGutf 08 10 2545 30 29 29 GaPwpfK 162 1181 23 23'4 23 GaPac 16 22 6147 82 81 Gerd 79 306 11 11 ll'Z? Va Gerut 20 402 15 15 15 GerNew 16 427 12 12 12 GIANT 252 6 6 6 Gillete 12 26 4242 83 82'Zg 83 Glamis 06 2331 9 8 9 Glaxo 109 17 10209 23 23'4 23 Glened 2379 10 10 10 GlbGvl 42 703 6 5 5 GlbHIt 758 11 11 11 GlobHi 127 265 10 10 10 GlncPI 67 648 8 8 8'Z: GIObM 10912486 4 4 4 GIObNR 414 7 7 7 GlobPriv 17 1830 11 11 11 GIObTR 50 489 6 6 6 STOCKS LOCAL INTEREST Sales Tds High Low Close Change Actava Group (ACT) 6 97 97 97 7 ALAC (AL) 272 41 407 407 AmSouth (ASO) 63 317 317 317 7 Barnett Banks (BBI) 262 467 467 467 Bell South (BLS) 609 607 607 607 7 Carmike (CKE) 18 207 20 20 7 Coca Cola (KO) 1116 587 577 587 7 Delta (DAL) 325 637 62 62 17 ieldcresl (LD) 142 23 227 23 7 1st Union (TU) 453 437 427 437 NC lowers Industries (LO) 24 18 17 18 7 Hilton (HLT) 119 767 757 76 1 Home Depot (HD) 1227 437 437 43 Interstate Bakeries (IBC) 144 147 147 147 NC Johnston Industries (Jll) 1 107 10 107 NC Mart (KM) 3389 14 147 7 Knight Ridder (KRI) 93 56 56 567 7 Lowe's Inc (LOW) 280 357 34 357 7 Mead (MEA) 341 54 53 53 7 PepsiCo Inc (PEP) 1433 407 39 40 Russell Corporation (RML) 123 297 287 297 Shoney's (SHN) 164 107 10 10 NC Southern Company (SO) 1265 217 207 217 SunTrust (STI) 74 53 53 537 7 Synovus(SNV) 110 207 197 207 Total System Svcs (TSS) 7 16 16 16 United Technologies (UTX) 129 697 68 69 7 Vulcan Materials (VMC) 71 577 567 56 7 Wal Mart (WMT) 2329 26 25 26 Westvaco (W) 169 427 417 42 7 A Courtesy ot Robert Thomas Securities A OVER THE COUNTER SECURITIES These quotations are the NASDAQ representative inter dealer prices as of approximately 4 pm Pric es do not include markup markdown or commis sion Courtesy of RobertsThomas Securities Bld Asked American Buildings Co 167 167 Apple 347 34 Apple South 157 157 Atlantic SE Airlines 18 197 Bank South 197 197 BigB 147 147 9 9 Consolidated Coke 297 297 Cott Corp 87 8 Douglas Lomason 177 18 LAG inancial 10 107 Healthdyne Inc 97 107 Hechinger 11 InterCel 127 13 Interface 14 147 Intermet 7 87 Lance 17 MCI Communications 207 Regions inancial Corp 367 Shoe Carnival 47 47 Shorewood Packaging 16 167 Southtrust Bank 21 7 21 United Cities Gas 167 WestPoint Stevens 157 157 Worthington 20.

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