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Detroit Free Press from Detroit, Michigan • Page 65

Location:
Detroit, Michigan
Issue Date:
Page:
65
Extracted Article Text (OCR)

Adroit iTvcc iheso mM tncl.nv's news of business, finance i Business 'A and the auto industry WJMPMI CD Trim Workers Laid Off. By AMC Get Federal Aid h'. "6V i4 Forecasts For Foods of The Future 1 tions with a soft-trim plant at Stratford, which had previously made soft trim only for AMC's Canadian-built vehicles. The Wyoming plant was -sold by AMC to White Consolidated -Industries in July of 1968 when the automaker disposed of its Kelvinatpr appliance division. At the time of the sale, AMC was given one President i n.

has cast the deciding vote in favor of awarding federal benefits to some 130 American Motors Corp. workers who were laid off when AMC moved soft-trim operations to Ontario last year. The workers at AMC's Wyoming, plant lost their jobs when the company decided to consolidate its opera For Businessmen on the Move year to move the operations out of the plant. AMC had a contract with Canadian Fabricated Products Ltd. in Stratford.

In December of 1968, AMC bought the''; firm and seven months later merged the i soft-' trim operation into the Cana-'' dian plant. The Trade Expansion Act of 1962 provides for compensa- -tion to workers laid off when their jobs are moved out of1-the United States. But the U.S. Tariff Commission split, 2-2, on whether to make the awards and the decision was left to the White House. The Labor Department said individual benefits in luchi.

cases are generally in the $2,500 to $3,000 range, with maximum of $6,600. The af-', fected workers were members'; of UAW Local 206. Automotive News Denies Sale Rumor i 1 i I 111 pii9Hii9MMU0 I Wt jr "Ww i t.Mr. Wemhoff pointed out that rumors of the paper's sale are not new. "Since 1946, McGraw-Hill has wanted to buy Automotive News.

Ten or twelve big. companies have been wanting to buy us up." Automotive News, which is primarily aimed at new- and used-car dealers, has a circu-1 a i of more than 47,000 across the United States and in most of the English-speaking countries of the world, said Wemhoff. About reports that Automotive News employes had made an unsuccessful bid to buy the paper, he said: "We've talked about it off and on for several years. There hasn't been any talk for a couple of years. "This doesn't mean the subject might not rise again if the employes thought the time would come when it would be for sale." The motor home, which has gained popularity among vacationers and summer campers, can be outfitted, suggests the Cortez Corp.

of Battle Creek, to meet a variety of business and service-organization needs. Examples are mobile showrooms, sales-training centers, conference rooms even luxury suites for the business executive who must travel, think, work and relax-on-the-run. Cortez motor homes have also been turned Into a television newsroom, a medical rescue van and a blood bank center. The transfer van used by the Apollo 13 astronauts Is a customized Cortez mobile home. Portion-controlled foods, with weights and calorie counts and nutritional contents listed on their labels, to guide you both as a normal consumer or as a dieter.

Edible food packages, transformed Into, say, gravy when heated, not only as a convenience to you but also as one solution to our throw-away problems. Lew-fat foods, Including such common Items as cheese and whipped dessert toppings, to meet your needs as a dieter without depriving you of essential nutrients. "Designed foods," featuring higher nutritional levels as well as convenience, in response to the Department of Agriculture's dismal findings that millions of us in all income brackets have significant nutritional deficiences. The foods will be specifically developed to reduce dental cavities, blood cholesterol, obesity, etc. A major and ever-rising part of our food bill today Is going to cover the costs of developing, launching and promoting new food products and new ways to package and present them conveniently to us.

More than 5,000 new products are being developed each year (although only about 500 last as long as a year in the marketplace) and with the costs of research and development of these products obviously into the billions of dollars, the producers, processors, packagers, distributors, are passing the costs right through to us. What's more, there is absolutely no way for this trend to go over the long-term except up with minor interruptions now and then. Here are some of the forecasts for foods of the future now being made by the Agriculture Agricultural Research Service, Supermarketing magazine and other top sources. New varieties of very fancy fruits, such as those now handled strictly by fruit-of-the-month clubs, will be Increasingly available in ordinary supermarkets. An ever greater variety of ready-to-serve convenience and pre-processed foods will be on sale.

"Environmental packages" are being developed In which foods will be kept in the correct humidity and atmosphere to ge( them to the consumer at tho peak of freshness. The trend is toward departmentalization of store produce counters into such areas as "orchard" or "tropical gardens" in which, says the Agriculture Research Service's Dale Anderson, "customers will select produce in an atmosphere more like picking fruit from the trees." Entirely new lines of food will be introduced for instant cooking in electronic micro-wave ovens. Such devices are expected to be as widely used in our homes within a few years as color TV sets today. Supermarket delicatessen departments will be vastly expanded. Among the new items to be offered, predict Cornell University's Food Marketing Specialists, are: hot prepared foods and hot entrees ranging from barbecued spare ribs to roast beef, hamburgers, fried shrimp, Chinese foods, complete meals clearly in direct competition with today's fast-food chains.

And further in the future, a significant rise In the volume of high protein meat substitutes. The transition phases in the food marketplace are shrinking. Only a few years back, freeze-dried foods and boil-in-the-bag vegetables were novelties. Now we are eating a quarter-billion pounds of freeze-dried foods each year and sales of boil-in-the-bag foods are well over 130 million pounds a year. As for frozen food products, our consumption of them is up to 14 billion pounds annually; the industry has rocketed from $500 million in 1950 to more than $8 billion now; sales of pre-frozen meats alone are into the $1 billion a year range.

We want and clearly are willing to pay for the novelty, the variety, the convenience and any extras in health and beauty. And simple as a hint of the overall future, the estimate is two-thirds of the foods from which we'll choose in 1984 are not even in existence today. i ftaumtlrmhrn NATIONAL BANK OF DETROIT customers in the Eastland Shopping Center area may now make deposits and withdrawals on a 24-h our, seven day a week basis, ac-cording to John E. Peltz, manager of NBD's Eastland office. The new system includes a night depository box and a new type of automatic cash register which is operated by a plastic card and issues a receipt with each transaction.

NAME CHANGE: Child's World, a chain of Michigan toy stores, has changed its name to Circus World, it was reported by Robert J. Franco, president of Gilbert Co. the parent company of the toy store chain. NEW PRODUCT Wyandotte Chemical Corp. has introduced a new spray-applied flame retardant insulation material, trademarked Pluragard 601 Norman Duke, president of American Pride Products Inc.

of Troy has announced that his firm will soon preview the "Gnat," an all-terrain vehicle to be told nationally in kit form. MEETINGS SEMINARS: Florists' Transworld Delivery Association will conduct an Indoctrination meeting at Cobo Hall, Oct. 5 through 6, for 190 florist officials from The offer is made by the who do not intend to sell 1f, WE SPECIALIZE IN FITTING THE HARD TO FIT AND PLEASING THE PER-SON WHO IS PAINSTAKINGLY DISCRIMINATING ABOUT HIS CLOTHINft. VISIT OUR DISPLAY FOR LADIES' AND MEN'S FASHIONS, SELECT FROM OVER 7000 FINEST IMPORTED FABRICS, DON'T MISS THIS OPPORTUNITY! mm mm CUSTOM TAILORED CLOTHES IN BIRMINGHAM Permanent Showroom and Sales SPECIAL SALE! Before SILK MOHAIR SUITS 92.00 WOOL CASHMERE SUITS 92.00 FINE DACRON WORSTED SUITS 72.00 FINE SCOTTISH TWEED JACKETS 68.00 WOOL WORSTED SUITS 92.00 CASHMERE TOP COAT 175.00 the United States and Canada. A seminar co-sponsored by the Michigan chapter of the Society of Fire Protection Engineers and the School of Architecture at Lawrence Institute of Technology, will be held at the science building on the Lawrence Institute campus, 21,000 W.

Ten Mile Southfield. The seminar is designed to explore and examine many pertinent aspects of fire, technology as they relate to those in the architecture profession. Dividends The board of directors of Safran Printing Co. Wednesday voted to omit the company's regular quarterly dividend "to conserve working capital while earnings are depressed." Crowley, Milner Co. i mmr Open Daily m.

i 148 Pitrca Birmingham (I bid. w. of. Woodward at Mapla, 2nd aai- Pi off the ticker BY HUGH McCANN Free Press Business Writer Automotive News, a Detroit weekly which has been covering the automotive industry for 45 years, is not for sale, says its publisher, B. J.

said that there have been rumors in recent months that Slocum Publishing which publishes the paper, was going to sell. Following a regular board meeting on Sept. 22, the Free Press 1 a the rumors began to gather strength among the Automotive News staff. "We are not in negotiations with anyone," said Wemhoff, "now or in the fprseeable future. We have no plans along that line." Slocum Publishing is owned by Mrs.

George M. Slocum, widow of its founder. Wemhoff is president and she is chairman of the board and sole stockholder. WEMHOFF SAID that 52 years ago Mrs. Slocum, who is 82, suffered a.

stroke and has not been active in the operation of the company. He speculated that the rumors had come as a result of a review of the company's opera-t i that began "two or three months ago." The review, he said, included Mrs. Slocum's estate, the operations of the paper, and "the tax situation, which changes from year to year. "The legal department is just trying to bring things up to date." Declared Quarterly 7'2 cents a share payable Oct. 30 to record Oct.

16. Parke, Davis Co. Quarterly 15 cents a share payable Oct. 30 to record Oct. 13.

of the State of Michigan of the State of Michigan. 1 ,000 of the Company COUPON lit mr Information about Investment crtificati. I Zip. TO LEASE A CAR?" Call Julie 70 475 P0NTIACS AND OTHER MAKES AVAILABLE FOR IMMEDIATE LEASE CLOHEGY P0NTIAG AUTO LEASING 255-4333 22476 GRAND RIVER Now 64.00 68.00 52.00 48.00 68.00 92.00 and Sunday Call Hr Appotntmti ii lOftt fl. OlZ'QOUi Portions; 4 1 NOTICE TO ALL SUB-CONTRACTORS A.

W. Heinson General Contractors, R.R. 1, Box 64-A, Mundelein, Illinois 60060, Telephone (312) 362-5160 61, now accepting sub-bids for U.SS. Courthouse and Office Building, Michigan Street and Monroe Grand Rapids, Michigan. Due at our office by close of business October 6, 1970.

Sal ran Profits Plunge Despite nearly level sales, profits of Safran Printing Co. plunged sharply in the company's second quarter ended Aug. 31. As a result of the profit skid, Safran's directors voted to omit the quarterly dividend of 12'2 cents a share which would normally have been paid Nov. 10.

President Hyman Safran blamed two strikes, lasting a total of three weeks, for the earnings decline. He said part of the increased labor costs will be offset by new high-speed equipment, but some price increases are likely. SAFRAN PRINTING CO. Three months Auo. 11 1970 1 Net Income 13.737 U3M3I A share 1 cent cents Sales $4,331,971 Six months Au.

11 Net Income I41S.13I A ehare 14 cents 1 cent; Sales 111,474,051 111,140,320 EARNS, AD ONE As it predicted seven months ago, earning for Bundy Corp. fell by 22 percent for the fiscal year ended July 31. Lower automotive output, higher costs and "disruptive effects of a major expansion program" were blamed for the tubing maker's decline in profits. The firm's president, Wendell Anderson Jr.r had forecast last February that full-year net would lag some 20 percent behind 1969 figures because of a softening economy. bundy Threa months July il Net Ineonw 11.150,900 A share 11 cents at cents Sale Ml, 00 Year July 31 14,411.000 11 171,120,000 Net Income A share Sales 12.11 178,514,000 May hew Named To Ford PR Post John F.

Mayhew, vice president for public affairs at Philco-Ford to the position has been appointed exec utive i of the Ford Motor Co. public relations staff. Mayhew, who has filled a number of Ford public relations posts since joining the company in 1953, succeeds Walter T. Murphy, who was recently named executive director for Ford North American public relations. "As minorities, we are Just not getting into the free enterprise system, but I would hate to see it destroyed.

We have come to the point where we must demand participation." Part of the NBL convention will be a series of seminars on subjects vital to the small businessman. Officials expect at least 2,000 minority businessmen to attend the sessions, which are being held at the Detroit Hilton and Sheraton-Cadillac hotels and at Cobo Hall. Moody's Investors Service Inc. the nation's largest and oldest securities rating agency, said it would start charging for its rating service on taxable bonds, corporate and U.S. denominated foreign obligations.

Moody's, a subsidiary pf Dun Bradstreet, has performed the rating service on taxable bonds on a voluntary basis since 1909. Since 1962 a modest fee has been charged for rating private placements. In May of this year Moody's initiated a fee service charge for new municipal bond issues. Associated Prtss Firestone Tire Rubber Co. has introduced an Improved winter automobile tire designed for use on both front and rear wheels.

Firestone said the tire has a wide tread design on its inside half and a conventional pattern on its outer half and can accommodate 112 steel studs, compared with 84 studs on the company's other winter tires. -United Press International Business Potpourri SCM CORP. has announced that the federal court in New York has ruled in SCM's favor in a patent infringement case against RCA Corp. over photocopy patents. The litigation grew out of termination of a licensing agreement in 1965 under which SCM had been paying royalties to RCA.

TRW has obtained an $11.5 million Air Force contract to develop a computer program for the Minuteman Missile systems. i -United Press International Perot Steps Down Multimillionaire Ross Perot has stepped down as president of Electronic Data Systems, but remains chairman of the board and chief executive officer. Promotion of Milledge A. Hart III to succeed Perot was announced. Hart has been executive vice president and secretary.

Associated Press Lambrecht Realty Company. 6 MONTH INVESTMENT CERTIFICATES if lR-'ii prospectus to bona fide residents these securities to non-residents Effective Annual Rate PAID MONTHLY OR AT MATURITY Yi, I would i your 6-month Name Businessmen Gather SOUTHFIELD RD. betwttn Allan and Dht WOODWARD 2 blocks North of 1 1 Mil Rd, 8 MILE at Kelly Road. (Eastland) I MILE 5 blocks West of SouthWd Rd. i MICHIGAN AVE.

East of Out.r Driv ll 111 MICHIGAN AVE. East of Out.r Driv 14 MILE and 1-75 (Oakland Mall) WOODWARD 500 yards north of Squara Laka Bloomfiald Hills Squart Lak Bloamfidd Hilli MINIMUM AMOUNT A Copy of the Prospectus Is Available it the Office Roast Beef 1.20 Minority "Detroit hopefully will be the place where things begin to happen in the i i business sector." Berkeley G. Burrell, president of the National Business League, expressed that sentiment Wednesday as the NBL opened its 70th annual convention in Detroit. The convention is a four-day conclave in which minority entrepreneurs can seek advice on legal, financial, management and marketing problems. The NBL is a pre-dominantely black organization -which also includes American Indians and Spanish-speaking minorities.

Serving 11am '9pm NO JJaxior Modet Prices "America has Joined hands with every other minority in the-world in pursuit of profit except American blacks, Chi-canos (Mexican Americans) and Indian Burrell declared. But he responded to left-wing attacks on the capitalist system by saying: "I do not 1 i the free enterprise system has failed in America The tried and true way is the way we'd like to do it. "We have been excluded, no question about that. The exclusion has been either intentional or unintentional but actual. Children's Call or Write Lambrecht Realty Company i iamwm i iv Kuiirnf nr ii TAnf MUKItoAtoC wij i I Address 3300 Penobscot Building, Detroit, Michigan 49226 Tel.

313-964-4522 I City i.

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Pages Available:
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Years Available:
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