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Detroit Free Press from Detroit, Michigan • Page 53

Location:
Detroit, Michigan
Issue Date:
Page:
53
Extracted Article Text (OCR)

2E DETROIT FREE PRESSWEDNESDAY, DECEMBER 21, 1994 Michigan Memo which has four major malls. Retailers are lying in wait for the last-minute shoppers who don't heed markdowns to lure them in. "We're expecting Friday and Saturday to be stronger than the day after Thanksgiving," MacDonald said. "And it's a (Jifferent customer. It's men who tend to wait until the end." I' Art Nitzsche, president of 'Jele-Check Michigan, said there is a mystique to last-minute shopping that only those who do it They'll often buy items that will be returned the day after Christmas, he said.

"They'll buy any sweater, any'fur, any diamond. Or they'll buy a gift certificate. I'm convinced that's how they like to do it, because they do it every year." But she said shoppers should look carefully at markdowns on items such as gold jewelry and gems. "Unless you're a very astute shopper, you don't know what you're buying," she said. "You have to know quality and know what a reasonable price is for the item." Retail experts said beginning today, malls and stores will have their busiest period building up to Friday, when many people are off work and will be out shopping, and Saturday, when most stores and malls will close at 5 p.m.

because it is Christmas Eve. But don't expect to see many more markdowns to be added before Saturday, warns Karen MacDonald, manager of communications at Bloomfield Hills-based Taubman Centers Inc. are trying to blow the merchandise out of the store to clear the way for spring fashions that will arrive shortly after Jan. 1. Hudson's 13-hour sale, which is running today, was added in an effort to clear out older inventory, said spokeswoman Chris Morrisroe.

"It would be marked down after Christmas anyway," she said. Retail consultant Joyce Harding said retailers can increase their profits by marking down this week rather than waiting until after Christmas. "They need to get rid of the merchandise either way," said Harding, president of Royal Oak-based Retail Directions. "They might be able to sell out with 25 percent off before Christmas, but they would need to take 50 percent off to sell it out after." With apologies, Intel will replace Pentiums SALES, from Page IE "People's shopping plans are very bullish," he says "The consumer is determined to loosen up and have a good Christmas, and the retailers are panicking." One reason for the panic is fear that people's optimism won't last, says Michael Bernacchi, marketing professor at University of Detroit Mercy. "The feeling of retailers is: 'We'd better catch these folks and capture the spirit while it So they move post-Christmas sales to before Christmas and hope to slay the Christmas drag-on.

Another reason for panic is that apparel sales did not get off to a good start this year because of warm weather in early November. Now, retailers Merger links trio of local auto suppliers SUPPLIERS, from Page IE for the last four years, grossed $40.3 million in 1993. MascoTech Controls is one of the smallest of 18 automotive divisions at MascoTech a publicly owned manufacturer that had 1993 sales of $1.6 billion. Detroit-based Mexican Industries in Michigan considered the nation's largest minority-owned auto supplier, expects sales of $121 million in 1994 and $153 million in 1995. The merger plans reflect a trend among ambitious small suppliers to join forces with other firms to meet the automakers' demands for technical expertise, global growth and one-stop shopping.

"It's a perfect marriage, if you will, of three companies," said MascoTech Controls spokesman Kurt Ruecke. "Individually we couldn't have grown as quickly as the company is going to be able to grow combined with the other two." Said Tsuha: "We are each component suppliers, but by pulling together now we're able to supply complete electrical or electronic subsystems to the auto companies." For instance, each company makes part of the system that controls a car's engine temperature. Bitron makes a temperature sensor that connects with Warehouse move Mazda (North America) a subsidiary of the Japanese automaker Mazda Motor plans to build a parts distribution warehouse in DeSoto County, to replace leased warehouses in Romulus and Wayne. About 40 contract employee positions at the leased warehouses are to be eliminated when the new warehouse opens. Mazda said it is investing $20 million in the new building, which is to open in early 1996 and initially employ 100 people.

BATTERY DEAL Troy-based Energy Conversion Devices Inc. and Toshiba Battery Co. Ltd. said they have resolved a dispute over nickel metal hydride batteries. Energy Conversion filed a U.S.

International Trade Commission complaint earlier this year contending that Toshiba, Sanyo Electric Co. and Yuasa Corp. were infringing on its nickel metal hydride battery patents. Energy Conversion two weeks ago reached a similar agreement with Sanyo. Terms of the deals have not been disclosed.

PUMP PRICES: Gasoline prices in Michigan continue to drop but still are about nine cents a gallon higher than a year ago, AAA Michigan said. The average Detroit area price for self-serve unleaded regular was 99.3 cents a gallon, down 1.5 cents from last week. Outstate, the average was $1,058, down 1.7 cents. A year ago, the averages were 90.2 cents in the Detroit area and 97.1 cents outstate. MORTGAGE SALE: Source One Mortgage Services a Farmington Hills-based mortgage banking company, plans to sell about $10 billion of its $40-billion servicing portfolio.

The rights for sale include about loans. 'JOBLESS DECLINE: Unemployment rates for November fell in nine of 10 major Michigan labor markets. The Upper Peninsula's rate rose to 7.3 percent, from 6.6 percent in October, the Michigan Employment Security Commission said. In other areas: Ann Arbor, 2.7 percent, from Benton Harbor, 4.4 percent, from 4.9; Detroit, 3.8 percent, from 4.6; Flint, 5.4 percent, from 6.5; Grand-Rapids-Muskegon-Holland, 3.6 percent, from 3.7; Jackson, 4.2 'percent, from 4.9; Kalamazoo-Bat- tle Creek, 3.7 percent, from 4.5; Lansing, 3.2 percent, from 3.5, and Numan Ali has been promoted to pharmacy supervisor at Arbor Drugs Troy. Ali is responsible for overseeing the pharmaceutical operations of 25 Arbor drugstores.

Previously, Ali was a chief pharmacist at the company's Westland store. He joined Arbor in 1989 as a pharmacy intern. Mark Frulla has been named sales manager and industry specialist in automotive technologies at Praxair Detroit. Frulla will quantify industrial gas requirements as they relate to the automotive manufacturers and their subcontractors, supplying their current needs as well as identifying new requirements to help provide environmental improvements to the automotive manufacturing process. Prior to his appointment Frulla was a key account manager.

BenefitSource an Ann Arbor-based benefit consultant and third party administrator, has added new staff members: Renee Carr has joined the client services staff; Kathy Kaveh and Pam Wilhelm to client services account tJSllUSM.il'l.l company. Gale Research publishes reference books, and the company's Pentiums aren't used for serious math. "We haven't had any said Dalpiaz. 1 Intel's new policy could also stave off a class-action lawsuit filed last week in Detroit by a Pentium user. South-field attorney E.

Powell Miller said he and his client, Representatives Electronic Products of Livonia, hadn't decided yet whether to drop the, suit; "But obviously it's something we're going to give careful thought to," he added. Miller called Intel's policy change "a wonderful decision." Meanwhile, Dell Computer a mail-order computer firm, is worried about replacement parts that Intel has already sent to some buyers of its computers. The Pentium replacement kit includes a heat sink, a device that is attached to the chip to keep it cool. Dell posted a message on the CompuServe on-line information service warning customers that Intel Hrvas sending out the wrong kind of peat sink, and that using it would void their warranty. A Dell spokeswoman later said that the company would send! the right kind of heat sinks to those who have already gotten replacement Pentiums, and that their warranties would not be voided.

Associated Press and Reuters Contributed to this report. i tm Sleek Bad Ask Sleek Sleek lid Ask TekrlWtl 214 2Vu TekPad 4ik Ask fa 'te 7lt 74. 3VS Jt IVu Pal Undaur, i PriMcLedll PfiMct 7 PrnM 14k PriiEl Pri(K0iir 444 Lnesiar 'W IVk IH lb IVk MwRtl 3 .34 uh Vu lla, Tedrotil 3'Vn 3NelS. I' 1V Trni SVk Sn TOiAcM 2kk 21k TracTPI V7 TracrPtrl "a Tmeit I'Via I'fu TirtwM 4 USDiaiai 4 in UnaKMX- SVk 1'Vu UidfnBc 31 .32 1444 MgiTedi te Vi PrdEnl IVu 44k ttk Vt l4 1 4 444 4 44 Markbol 71 7 MslGlal ilk 2lt Meckkiid lk jl MeoWal 3Vu 3Vu MedDvn IVk IW tAulInn 14s Phi PKlvsri Jik PryAm 2 PsycCp 3' Qscajnd th Odrait 714 PjiilAm klVtt IVk IV MeWdd 1 3Vi RenGd IVk 17 17lt 4 414 24k t4 MiWlS 174 171 MslrJav H44 20) MJavwl II lj Rsdifrts 4k RWarrPw BoicLbs 44k Mlctiam 2ik Rrta PENTIUM, from Page IE Still, Intel's stock surged on the news as investors hoped the Pentium problem would quickly fade. On the NASDAQ market, Intel jumped $3,438 a share to $61.25 in heavy trading.

Industry analysts welcomed the move but called it long overdue. "It's about time. It's very clear they were fighting a losing battle, both in public relations as well as user confidence," said Tim Bajarin, president of Creative Strategies Research International in San Jose. "To continue stonewalling by making people prove that they had to be building a bridge, or building an airplane, was ludicrous," Bajarin said. "They should have been creating goodwill from the beginning." Users of Pentium chips celebrated the Intel announcement.

"I'm just delighted. I think it's the responsible thing for Intel to do," said Ted Fisher, engineering manager for General Dynamics Land Systems Division in Sterling Heights. Fisher said he'll replace the Pentium in his home computer, which he uses to run engineering problems that can take up to 90 minutes to solve. On the other hand, Paul Dalpiaz, who oversees computer operations at Gale Research in Detroit, isn't planning to swap about 50 chips at his- OTC Hod ew ACTV 41 4tt AG8w lK I'to AGPlCo" "nt ATCHs J14 Acliviw JU 4V AdapSal AlWMam II lilt AMemwl 71k IK AlMles jv Alanco PW 1 AtOHSP 1 lit ASinoo 4 ABsCpl 3 AmCines 4 l' AmRess 74 7 AmTovs 11 114 AToynwl 4 Amerlw 11 AmesDS i ftit Amnei 1 AncorCm 4k AngSA SI Arttsi acca sola 11 Slack Slett Bid Ask Stack Hisvm HisBds HotVPd HlyPotrl WTTrti CCAIR I CSIL44 Cat Vlu rxrf lata UV, DustvM 44. DvoagnPj Pro IVu Fro) tm Mk Caleon Ilk CicBrm) CaslIGm EVB0 'to mcorml Caretnd nu Caroflpl Ceaetui SVk CnlMne l'4 Chanial rhMiHt Easlcoun Ilk lEICorttX 4H Etlsrc 2'u IVu EKoCstl 714 Ilk iEnvmlrc tjlk IW PnvmlMl 414 7 InrovTdl InnovTvYl ImnlrL rniwwiA lrmrlB hwM IciHWrW EnTUSAh.

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Thyssen a Detroit-based steel, aluminum and plastics company, has acquired Ken-Mac Metals a Cleveland-based distributor of aluminum and stainless steel. ResourceNet International, a unit of Purchase, N.Y.-based International Paper has agreed to buy the assets of two paper distribution companies: Grand Rapids-based Carpenter Paper Co. and Detroit-based Seaman-Patrick Paper Co. Die-line a Grand Rapids-based maker of sheet metal stamping dies, has agreed to buy Capitol Engineering and Rapid Pattern Plastics. Both are located in Wyoming, Mich.

Offer Completed-. Thomson a Toronto-based newspaper, business information and travel company, has completed its $27-a-share offer for MEDSTAT Group an Ann Arbor-based health care information company. Thomson said it has accepted 93.5 percent of MEDSTAT shares under the offer. Shares that weren't tendered will be canceled and converted to the right to receive $27 a share, it said. Dividend Changes: Midland-based Chemical Financial Corp.

is splitting its common stock 3-for-2 and plans to set the post-split quarterly at 16 cents a share, a 14.3 percent increase. Yale-based Margate Industries Inc. has raised its quarterly common stock dividend to 1.5 cents a share, from 1.25 cents a share Kalamazoo- based Stryker Corp. has declared a year-end common stock dividend of 8 cents a share, from 7 cents. Lansing-based CFSB Bancorp Inc.

has raised its quarterly common stock dividend, to 11 cents a share from 10 cents. Southfield-based Franklin Bank will pay a special 5-percent common stock dividend. EARNINGS: Core Industries Bloomfield Hills, quarter ended Nov. 30. Net income, $2,021,000 (21 cents) vs.

$2,908,000 (30 cents). Revenue, $54,104,000 vs. $54,008,000. Numan Ali Karen Gilbert Also appointed: Frank Sobie to geographic information systems manager for Wade-Trim, Plymouth. At Franklin Bank, NA, Southfield: Karen Gilbert to small business administration loan officer and Patrick Bain to the mutual fund sales staff.

Christine Szyrnanski to account executive at Global Technology Associates Lincoln Park. At the Woodbridge Group, Troy: Brian Rambo has joined Woodbridge's corporate materials management group; Dan Martu8 to plant manager of Wood-bridge's Whitmore Lake facility; Mike Herman to manager, technical sales and marketing; and Mark Dieterle to product manager, Enerflex. Compiled by Susan Selasky WvSaleiOjia Rirkli an iiij. 71 1134 111 IMS 154 331 111) ill 111 TO! 51) IM I H7 IH Jl 37) 511 UN 715 774 1.171 H4 171 1571 Mil ITS SO M) 553 7 ft 7H 4 ft? 4H I lift- ft 131) ll 44 1331 in- ftt 14 754 lift- It 111 lift- ft .14 171 I.1 IN ft II 311 31ft ft 4044 ftt 337 3ft- ft ut Biitkh BivNTWI 7ft I30J ft 1)73 ll ft 717 ft 1 114 53ft ft 33) lift ft M) 3ft JDl 3SI lift- V) Ml 79 ft 171! 15ft ft 115) ft- ft DM Ift- ft .44 Ml 3tft 1ft 13) II ft 3D 4. ft rit 4ft 341 3ft 14 ft 4M Vt ft 771 lift- ft 431 IV- fa 77) I 511 ft- ft 1)5 5ii fit 47N 35ft- ft 441 ftt 7SI Wit ft 1075 5 1 I1U 13ft- ft 311 ft, I3VJ 1ft- ftt 7M Wit Kl ft BurMt BusCrtt ButOun BuwOW C-C0BE CAIWrt CCOKl CDWl CESoB CFSB CISTdl CK8 CStFri CTLCr CatelM Coow CadbrS BaiDidn BvV BBU Bnietrk Betw BeKie BMCitl MM BenJcrry 6w(O0 Btrim Btrlud BnlPwr BnlPd Bum BvB BlgOTIr Bindry BioMWU 8lMCi Bnor BncnrU Bnoen Bncd BiomK Biomalr Biomel BWrt BloTcO BVlcrr BKkBn Bit Hats BkHGarlA 5323 31ft lit M34 7iu- i W77 31 ft UIA IA Ml 14ft I CMeM Caere Calger CalAmp CUMO CalMk Cotown CnNlt Cambex Comtldi CammAtll CanwoEl CWneA Candies Carwidb) Onam Cni Cirauslr CareGe CarrnHl CareerSH Carehne Crentrk CaroFsl Carver CarverFS CiKCom Casevsi CasAms CaiAtadc Catnllsc at 194 Nftt ft Ml ft IN 15ft- ft 1144 5ft- 1)7 MIm 741 Ift nt xmt isft i i tit- ft tun ssft ift 37S 17ft- ft 341 4ft m- ft UM 4u- 3M 171 MB IS) 7N 413 111 Jk 7)7 T44 l- ft HI BVit- 575 ft till 1ft 437 J4I74S m- ftt 1)11 ft B7 I7ft ft 1D7 lift- ft BnOv BUD N7 471 IM SB UK 77) )lft 411 4ft- ft 1JI3774 ft- ft J) 71) 70ft- ft SO 7ft S4) I 171 t- ft 4175 ftt 1737 5- ft 717 ftftt ft II) ft 771 IS ft IM) 7ft- lit ft 71)3 1314- lit nn lift- ft BrVIti BuatBnc BoDEm BouHl BoleAm BonTorl Bonuifl Bonos BookMt Book6t BoomlMl BorM Borror BoslCM BoUTc 111! )'- Ift 1 11 311 17 IM IS31 7- ft .11 MO Ift- ft 111 Wit ft SD7 4)- ft IS44 1)4- ft Ml "nt 561 ftt- ftt 334 1V ftt 354 4ft ft 174 ft .411171 17ft 33) 41ft- ft 74b 154 11ft 3U 3 751 ISM Jl Mi I4M 3441 571 470 W71 1747 IIM Ift 15ft 17ft 7ftf Tffit 17 Vh.

7) Mft I 9k 5ft 75ft 5M lift 1 1ft 3ftt lift lft Kit PVn 4Vu IS 17ft 75ft 114 4 SI Hl 5ft 7ft 7it Ift 7ft Ift IbJiliVI 1 Black group challenges CBS on Channel 62 minority ownership TJ: are each component suppliers, but by pulling together now we're able to supply complete subsystems to the auto 7 Wally Tsuha a computerized controller made by Saturn, which sends a signal to an electronic relay switch made by MascoTech Controls. That switch controls the radiator fan that cools the engine. Bitron makes the fan motor. Automakers want suppliers with such coordination, "and they're looking for companies to supply these systems globally," Tsuha said. The new company would have about 800 employees in eight locations.

Saturn has 350 workers in Rochester Hills, Flint, Marks, and Monterrey, Mexico. It is also a partner in a Beijing, China, assembly plant. MascoTech Controls has Michigan plants in Oxford and Coopersville. Bitron, partly owned by MascoTech has plants in Rocky Mount, N.C. and in Italy.

MascoTech Controls and Bitron employ 425 workers. The new Saturn will probably add 80 new jobs in 1995 and could add more work space. "We do need more manufacturing space," said Tsuha. Ferguson said the petition will be filed at the FCC by Thursday, to meet a legal deadline, but that he plans to keep talking to CBS in hopes of working out a partnership. CHANNEL 62 COUP: Reruns of "Seinfeld" will come to Channel 62 in September.

CBS has also bought the rights to two youth-oriented talk shows, "The Richard Bey Show" and "The Tempestt Bledsoe Show," for Channel 62. Getting "Seinfeld" is a coup for the station. "We're beginning to invest in the future, as we said we would," said Jay Newman, the CBS executive in charge of Channel 62. Two rival stations also went after the rights to "Seinfeld," he said. "The Richard Bey Show" will begin airing on Jan.

2 on weekdays at 5 p.m., displacing "Jane Whitney," which will move to 9 a.m. "The Tempestt Bledsoe Show," hosted by the actress best known for playing daughter Vanessa on "The Cosby Show," won't debut until the fall. Spot Quotes WORLD GOLD London, $381.85, up $2.10 Paris, $379.92, up $2.72 Frankfurt, $380.37, up $1.60 Zurich, $381.75, up $2.50 New York (Handy Harman), $381.90, up $2.70 NON-FERROUS METALS Aluminum: 84.4 cents per lb. London Metal Exch. Copper $1.43 per U.S.

destinations Lead: 44 cents a pound Zinc: cents a pound, delivered Tin: $3.9762, Metals Week composite price per lb. Silver $4,830 Handy Harman Platinum: $418.40 per troy ounce STEEL Pittsburgh scrap steel No. 1 heavy was quoted in the Nov. issue of Iron Age at Ilk 34 WodMed 71 744 Ummthtn Uk 444 A Hold 2Vk 4T.llnt 44 UKLelir IVk 41k IIMfiwIA 14k rVu SVk MusUSAl Jk SIDiatn 31k USvAdal 2V 244 Saha isk J'4 4tk In in the Metropolitan Detroit area. Call 1-313-222-6500 for convenient home delivery.

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The FCC has no rule that requires minority-owned stations remain in minority hands, but the commission has sought to encourage minority ownership of TV stations. Ferguson, who tried to buy Channel 62 from its prior owners, said he was encouraged to proceed after learning that CBS was willing to sell part of Channel 62 to the Westinghouse group of TV stations. "They were willing to let Westing-house buy half of the station, but then they were telling us that they weren't going to sell it to us," he said. Dr5ilH Oase On DhirtsOosa On. cw nil Ift ft Cerner Ml ft 131 7H ft 175 5ft- ft ConcHMi ConcHal ConcPap ConcCm Cerecr jm SM 14ft- ChrmSli JI175M 4ft ft SIS IWm )1! Mft Vu 4741 to Mlk ft 411 JX IM )ft IS ft SO ft 414 ift fit JlilK 15ft- ft 1114 15ft- ft SD -I 715 ift Vu 774 Miu- fu 1404 Ifit- Vu 1)5 S7 ft Km Mft- Ift 311 Mft ft Ml Mft- 1 ISO ft 40) 7ft 371 ft )ft ft CWOnef Crerters CHeduTift Chesai Chmlrli aamFH ChrrvBi ChesEni CNcoss Chwcmp CUMOk Ctiipcml CNosTc Chiron Chlilend ClieOri UK )5M ft 113 7ft ft 471 IS1- ft 40 3ft- ft J4 14 Dftt Ift 10! tl ft lift 75 4ft- ft 177 7u Vh 541 llftf ft 1174! 43 I 1ft 1540 ift 4151 ft Jl 39! 11 ft 4 On.

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14.94 .09 World Sugar May 15.00 .12 Conc.Or.Juice Jan. 117.60 1.90 ConcOr Juice Mar. 121.40 150 Cotton Mar. 83.09 .79 Cotton May 83.75 .39 Coffee Mar. 161.65 2.80 Coffee May.

162.50 2.20 Live Hogs Dec 33.90 .80 Live Hogs Feb. 37.80 .12 PorkBelliea Feb. 38.82 .10 Pork Bellies Mar. 39.27 .03 Cattle Dec 70.30 .15 Cattle Feb. 70.62 .02 Silver Dec 481.1 5.2 Silver Jan.

481.2 5.2 Platinum Jan. 418.40 2.60 Platinum Apr. 421.20 3.10 Gold Dec 381.80 2.60 Gold Jan. 2.50 Copper Dec 135.i 1.55 Copper Jan. 135.50 .70 MORTGAGE RATES BY FAX 1-800-453-4FAX 3M Ift- fit 711 I 4- ft IMS W7 MS 731 Wl 305 Oil lift ft D) Mft I 74) 3Vit ftt Jl M4 Mft TWO 1ft- ft 137 1ft- ftt 411 Mft i ft trn ft 1137 5ft Vu i4i ft jtim isvit- ft, II IMIG05 Nft ft 7KI Jft 1 jl 151 Mft ft A13K Wit 473 ft 111 imi ir 77) 'Vu Hit 70 Ml 17 4 Mil I7VH I'V- Stft 3411 Mft OI J4IIO Sft- ft BoiEnB BovdBroi BritPttn BradrW BrrMSvl Braum BrlllV BruMTc Bonllri BroctCi Brod Bkmc BrookiM trtlrai trotlrl AM MM ft ApWKT AMErir ABKnd AMCafW AMD iiHtlmii BMerJ AOCwC AMC4 ttftf ft (UtfTPta Bnfm AHHMI AHIF mm MpMI AWWI AhC lint ft ttot ft in IK fft ISM 1 ft SI) lft BtUntprt BotFiK ncGallt AfMdMaN AMSCIKI AHdSIl AnfVaW tnndtc Sour a Awil Banvil MU ll'V ISA) IW 411 7I ft HI 5ft- ft rBSI m- ft ig 3S it I4 W- ft 577 4M lft 74S ft in ivt For a 4 page listing of over 40 local lenders' rates, lock policies: phone numbers, updated every Monday at 2KK p.m.

($7.95 per call) per inquiry. Please have Visa or Mastercard handy.) -i adYrtl4rlng prorlcM by WDDB miV Detroit Nrptl lr. 3 BAMi tarniS) 711 17ft- ft Bvn 1 IiTaa ft CEirAVIl 171 CFM64I I 4IS IS (ft mi ll ft ft ftt Aim Aiwa Tuts AM 7S a ft Am ft-. Aralul See NASDAQ, Page 3E 79 AfmM.

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