Herald and Review from Decatur, Illinois • Page 30

SINESS C9 Decatur, Illinois Herald Review Friday, October 18, 1996 i ianraaa i On Business I- i I natwpFWW From wire reports Mm rings up mmim profits MINICH Lucent Technologies, its high-technology equipment business, and other parts of its previously announced breakup. That was down from profits of $1.53 billion, or 96 cents a share in the third quarter of 1995. Results last year also were adjusted to eliminate results from Lucent and other units for purposes of comparison. Revenues grew 2 percent to $13.23 billion from a restated $12.92 billion. The results were in line with a warning last month from the company that its earnings would be about 10 percent below market expectations of about 92 cents per share results contrasted with those at archrival Sprint which on Tuesday reported a 16 percent profit increase, chiefly due to a flat-rate calling plan.

The plan, which drew customers from resulted in a 21-percent increase in call volume at Sprint during the quarter far higher than the 5 percent increase at last month began fighting back with its own pricing plan that also charged customers a flat rate for long-distance, direct-dialed phone calls anywhere in the United States. In a conference call Thursday, chief financial officer Rick Miller said that the company was "encouraged by initial results" even though the new marketing program was just three weeks old. The battle comes as undergoes a dramatic spinoff that refocuses its attention on its long-distance and other core phone businesses. In addition to the Lucent separation, is preparing to spin off its computer manufacturing arm, NCR selling other units and seeking a buyer for its underwater phone-cable business. The uncertainty has been heightened by search for a new president and likely successor to Chairman Robert E.

Allen. like other long-distance companies, is spending heavily in preparation for the opening up of local phone markets to full competition. Battle for long-distance customers strains quarterly performance. NEW YORK (AP) stung by harsh competition for long-distance phone customers as well as credit-card losses, on Thursday reported an 11 percent drop in third-quarter profits. Investors' reaction to the results was muted, since warned a month ago to expect the weaker profits.

stock was down 37k cents at $39.50 per share in late afternoon trading on the New York Stock Exchange But the results gave a close look at the bruises on the nation's largest telephone company from its heated battle for customers with MCI, Sprint and a host of smaller providers of longdistance service. said in the three months ended Sept. 30 it earned $1.36 'billion, or 84 cents a share, from continuing operations, reflecting its spinoff of Lone Star opening likely in '97 DON'T LOOK for the former The Ground Round to reopen as a Lone Star Steakhouse and Saloon before 1997. John White, executive vice president and chief financial officer, said Thursday the Wichita-based chain will have to inspect each of the nine former Ground Rounds it picked up last week and determine how much has to be done to convert them. "Some involve leased property (so that) we are still dealing with landlords on renegotiating the lease agreements," White said, adding that the chain hopes to have Decatur and up to 14 of 16 acquired units open by April.

Lone Star operates about 140 restaurants under its flagship name, along with Sullivan's and Del Frisco's Double Eagle Steakhouse units. Chrysler squeezed for selling 'lemons' SACRAMENTO, Calif. -State regulators on Thursday barred Chrysler Corp. from shipping cars and trucks to California for 45 days as punishment selling 116 "lemons." The decision by the state Department of Motor Vehicles also prohibits Chrysler from reselling the lemons it buys back for three years. "The action taken today is taken against Chrysler not corporation dealerships in California," DMV Director Sally Reed said.

"Chrysler products dealers will be able to continue to do business and service their customers during the 45-day suspension of vehicle deliveries into the state" Travelers travel 'Net more than most NEW YORK Travelers use the Internet more than average, with frequent travelers surfing the Net tie most, according to a survey released Thursday. Nearly half of frequent business travelers, 47 percent, use online services, and a third of frequent leisure travelers those taking five or more trips a year log onto the Internet, according to the survey by the Travel Industry Association of America. In general, 19 percent of adult travelers use online services, compared with 6 percent of the U.S. population overall, the survey reported. People able to take frequent trips are often better educated and more affluent, and are more likely to have computers at work and at home, said Shawn Flaherty, a TTA spokeswoman.

Indian McDonald's overusing power? NEW DELHI, India One day after it opened, India's first McDonald's restaurant was accused of consuming more than its fair share of electricity. McDonald's denied the charge Thursday. Electricity use is controlled in India to ensure an adequate supply for farmers and public institutions like hospitals. The Times of India newspaper reported that local power company officials found that the McDonald's outlet on Monday was drawing nearly three times its allotment. Electricity co-ops promise cooperation COLUMBUS, Ohio Nine generation and transmission cooperatives said Thursday that they will share power with one another in hopes of lowering costs for customers from Michigan to Florida.

The organizations said they were forming the Alliance for Cooperative Energy Services, which will share resources, customer support and excess power to reduce costs. lgas e' Women execs advance little, study shows NEW YORK (AP) Men still get the lion's share of top jobs and fattest paychecks at big U.S. companies, and often women executives aren't in posts that lead to the top, a research group announced Thursday. There has been some progress, but women's rate of advancement at the very highest echelons of U.S. business remains slow, according to Catalyst, a study group that works to advance women in business.

"It is time to stop wasting the talent, time to dispel the myths that women have made it in the corporate world," Catalyst President Sheila Wellington told business people attending a breakfast to announce the results. "There is still a glass ceiling, but equally important, this census documents the existence of glass walls," she said, referring to the difficulty women face in winning jobs with responsibility for a company's fortunes. Women make up 46 percent of the work force. But the survey which Catalyst called the first accurate measure of women's gains found that 10 percent or 1,303 out of 12,885 corporate officers at the 500 largest U.S. companies were women, up from 8.7 percent in 1994.

About 100 of the Fortune 500 companies have no women corporate officers at all, Catalyst reported, while 27 companies mostly in the service sector have women filling one-quarter of their corporate officer positions. Associated Press MARKETING RESEARCH firm Millward Brown Inc. will open a center in Park 101, possibly by year's end. The Naperville firm is one of the nation's largest marketing 'research companies. Its permanent data collection center here will employ about 80 people initially, bet rolls are expected to grow to 140 at full strength, said spokeswoman Marion McSweeney.

Millward Brown polls consumers nationwide on product preferences, reaction to new products, discretionary spending plans and other information lit-1 Vi mnnnf'ifihtrarc rY twv1 HEADING OUT: The closing of the Pabst Milwaukee plant will idle 250 workers. Milwaukee to lose another brewery Once an industry leader, Pabst has struggled with declining sales for several years. According to Modern Brewery Age, an industry publication, Pabst was third in sales of 31-gallon barrels in 1975, with more than 15.6 million sold, and dropped to sixth in 1995, with 6.3 million. In a letter to the local Brewer Workers union, Pabst said it would continue ownership and maintenance of the facility. Mayor John Norquist said the brewery's parent, Co.

of Mill Valley, forced the closure. "Pabst employees have worked hard and tried their best to keep the plant open and profitable," Norquist said. "But the brewery's corporate owners, through a series of bad business decisions, have brought this situation upon themselves, the work force and the community." MILWAUKEE (AP) Pabst Brewing Co. said Thursday it will shut down its plant and lay off 250 workers, ending 150 years of the Blue Ribbon beer in the city that once dominated the industry. Pabst, the nation's No.

6 brewer, said it would shift production to Stroh Brewing La Crosse plant, where it had previously contracted about two-thirds of its production. The decision to cease operations by year's end was prompted by reduced demand and first-quarter losses that were significantly greater than anticipated, said spokesman Gary Lewitzke Pabst had projected a nearly $9 million loss by the end of this year at the Milwaukee plant. "The losses at the Milwaukee division have been mounting and the demand for our product has been diniinishing at an alarming rate," Lewitzke said. uct development planning and marketing strategy design. No selling is required, and no experience is necessary.

The jobs have flexible hours and bonus pay for more than 25 hours a week. Wages start at $6 an hour. Stock, bond markets warm to news that economy is cooling DOUG BAKER'S The Computerworks will move around the corner from 2909 N. Water St. to 2980 N.

Main St. at month's end. The computer center will occupy about 3,000 square feet in the former The Equitable insurance building between Amoco and Block. Baker said The Compterworks will be closed Friday and Saturday, Nov. 1-2, reopening in the new location on Nov.

4. A grand opening is planned 10 a.m. to 4 p.m., Nov. 16. WASHINGTON (AP) The economy appears to be cooling and may not need higher interest rates to keep it from igniting a fresh round of inflation, new government reports suggest.

Data released Thursday showed residential construction and industrial production both slowed in September, while business inventories and the number of new claims for jobless benefits grew faster than expected. Stock and bond prices both rose on the reports, which were interpreted as evidence the Federal Reserve will not raise short-term inter boost interest rates if needed to prevent any acceleration in inflation. The Commerce Department reported that housing starts tumbled 6 percent in September, to a seasonally adjusted 1.44 million annual rate. That's the lowest since a 1.43 million rate last December. The decline was the steepest since a 9 percent plunge in January 1995.

Analysts had forecast a smaller 2 percent decline est rates soon. Higher rates would put a drag on corporate profits and lower payoffs on bonds. "The reports show an economy that is still growing but has definitely slowed from its first-half pace," said economist Lynn Reaser of Bar-nett Banks in Jacksonville, Fla. "It would indicate there is no urgency for any Federal Reserve tightening in the near term." Although many analysts had expected the economy to moderate during the second half of the year, Fed officials have warned they would DOW (Industrials) Chicago (API Futures tradng on the Chicago Uerchanote Exchange: Open High Low Settle Chg, CATTLE 40.000 per b. Oct 96 70.85 71.65 70.72 71.40 .48 Financial News Updates at your 475-7000 Headlines 5025 Dow Averages 5026 Market Indexes 5027 Winners 5028 .13 .08 .05 .10 .03 Grain Markets Decatur area prices supplied by ADM Growmark-Tabor Co.

Com Beans 56.72 Wheat 53.83 Hogs Volume Top East SL Louis ...800 $54.50 Peoria 750 $54.50 Interior 31.000 $53.50 Cattle Volume Top East SL Louis 0 na Peoria 0 na NYSE Losers 5029 Weekly Winners 5030 Chicago (AP) Futures trading on the Chicago Board ot Trade Open High Low Settle Chg, WHEAT 5.000 bu minimum- doHais per bushel Dec 96 4.17 4.17 4.09 4.11 -56! Mar 97 4.05 4.05 3.99V24 00 May 97 3.66 3.86 3.81 351 Jul 97 3.68 3 69 3 64 365 Sep 97 3.70 3.70 3.68 368 Dec 97 3.77 3.78 3.76 3.76 Jul 98 3.48 3.48 3.48 348 Wed's sales 15.095 Wed open mt 66.935. down -716 CORN 5.000 bu minimum- dollars per bushel Dec 96 2.83 2.83 2.80 2 83VH Mar 97 2.90 2.90 257 89 May 97 2.95 2 96 2.93 2 Jul 97 299 2.99 296297 Sep 97 2 87 257 2.84 2 Dec 97 2 83 2 84 2 81 2 83 Mar 98 2.89 259 2.87 2 89 Wed sales 49.600 Wed's open mt 325.624. up 2108 OATS 5,000 bu minimum- dollare per bushel DSC 96 1.71V4 1.72 1.70 1.72 Mar 97 1 78 1.76 1.75V1.76 May 97 1.79 1.80 1.78150 Jul 97 1.82 152 1.811.82 Sep 97 1.78 1.76 1.76 1.76 .00 Weekly Losers 5031 iNYSE Active 5032 55 22 52 .15 .12 WMEXAcfive 5033 52-wk 52-wk 52-wk Hi Lo Name Last Chg. Hi Lo Name Last Chg. Hi Lo Name Last Chg.

97V2 63 AMR 81V 45 28 Deere 437B 48 29 Lucent 47 -1 49'A 35'AATSTs 397A 69 53'A Disney 64- 11 'A 10 MYR 107S Vs 52 38 AbtLab 52 1 41 29 Donlley 31 -36 28 21 MagGp 2636 25 11Airgass 23 92 65 DowCh 79 54'A 38 McDnlds 46V4 3 2VAkom 22-Vs 97 60 DuPont 95 1 72 55 Merck 74 42 66 37AkxSts 47 6' 1EglFd 4 -Vt 71 49 MerrLyn 69'A 53 35 Allstate 54t3'A 26 21 EqtCos 25- 13979 Microsoft135-2 64 43'A AHome 65 90 73 Exxon 88 -f 51 28 Milcmln 40 42 24 AmStores40 17 11FalconPd 14 72V 55 MMM 72 66 49 Ameritch 56 18 11 FamDIr 18 120'A 99 Mobil 118 75 63'A Amoco 74A 4 50 28 Fastenl 45'4'w 43'A 20'A Monsan 41 40 31 Anheus 38 7 5 Fodders 6'A 68 44 Motorola 48 -1 42 16 AppleC 26 4 53 41 FstAm 52 12 8 Navistar 9V 34'A 17 Applebee 24 28 19 FtFnCp 26 96 73 NflkSo 951 'A 22 ArchDan 20 -IK 31 26 FMidBc 30 55 41 PPG 56 132104AtlRich 132 1 14 11 FstMutl 13 57 41 Penney 54'A -'A 37 23 AutoZone 27 32 29'A Rrstbklll 32 35 25'A PepsiCo 30 42 30 BancOne 41 37V4 27Vi FordM 31- 10782 PhilMr 97 1 48 36 Baxter 44'A 44 31 FrptMcS 32V4 'A 23 19 PimcoAd 22 26'A 12BestBuy 20 2 752 FruTraU 'VS2 100 78 ProctGm 97 1 19 12BoBEvn 13 49V 37 GTE 41 -1V 3 1 Roadmst 1 'A 41 'A 34CIPSCO 36 96 60 GenElec 95 53 32 Sears 51 1 30 23CNBBcsh29 58 43 GnMotr 53'A 26 18 Svcmst 25 77 64CPC 781'A 45 31 Goodrch s43 13 7 Sudbury 11 21'A 13CPI 21 53 37 Goodyear 45 60 34 Tandy 40 53 40 CSX 46 3125GmdMet 31 22 13 TeleComA12 31 22 Cabot 28 10 6 Hansons 6 -Vi 10266 Texaco 1021 28 15 CarsPir 25 57 36 HewiPk 47 84 65 Transm 71 'A 18 10CartWal 12 59 36HmeDep 57 'A 47 30Tycolnts 47 25 16Caseys 18Vt 31 23 IllinCtrs 32 6038UALs 43 -1 77 51Caterp 74 30 24 lllinova 26 'A 35 22 Unicom 25 Vt 67 46 Chevron 66 47 33 Ingerfld 45 44 36 UnElec 37 -w 35 23Chryslrs 32 -1 IM'MO'Vis Intel 110 -1 9 5 Unisys 7Vt 45 36Cilcorp 36 131A83IBM 125 -2 8 3 VentSt 3 53 35'A CocaCI 49'A 44 34 IntPap 42 36 WMX Tc 34 17 12ConPd 16 16 5 Kmart 10 28 192WalMart 27 40 25'A Comingln 39 'A 46'A 31 Kroger 44 1 37 26 Walgreen 37 27 15CrkrBrl 21 -V) 24 19LeeEnts 23 30 25'AWallCSs 29 'A 45 32 Crane 46 57 40 LincNarJ 46 21 13WstgEI 18 62 45 DWDsc 60 1 43V26'A Lowes 40 61 47 Whrlpl 49 WAREC0 SERVICE Station at Wood and Jasper streets reopened this week after a summerlong remodeling. The Phillips 66 outlet offers convenience groceries, snacks, cigarettes and other items, as well as 16 pumps for gasoline. Jim Ware, Jacksonville, owns the station. TAGLINES: In announcing the reconstruction of Osco Drug at 16th Cantrell last week, we neglected to say that pharmacy services are available from a temporary facility at the site. Osco's new store will open in the spring.

Ann's Gifts Plus, 124 Merchant will celebrate its eighth anniversary Monday. Drop by 10 a.m. to 5 p.m. for cake, coffee and a chance at a $300 vase. The drawing will come at day's end.

Local Edward 0. Jones offices will hold career day programs next Thursday for potential new brokers. Call Fred Owings, 877-5055, or Al Fagin, 422-8755. Life Uniform has moved out of Decatur Memorial Hospital and into Suite 209 of Physicians Plaza East on the DMH campus. Lenora Mintun manages the shop, open 9 a.m.

to 5 p.m., Monday through Friday. On Business, published Fridays in the Herald Review, highlights new businesses and business Index Name Close Chg. Dow Jones Industrials 6059.20 38.39 NYSE Composite 376.41 1.88 Amex Index 577.39 0.87 NASD Composite 1241.96 NMS Composite 559.10 500 706.99 2.58 Value Line Arithmetic 648.76 1.95 Value Line Geometric 360.61 0.96 Wilshire 5000 6915.53 19.50 NASDAQ Active 5034 CBOT Overview 5035 CBOT Prices 5036 Chicago Merc 5037 Dec 96 65 20 65 67 65.15 6540 Feb 97 63 27 63.45 63.15 63.35 Apr97 65.15 85.45 65.12 65-27 Jul 97 63 05 63.42 63.05 6317 Aug 97 62.77 63.07 62.77 62.77 Oct 97 65 55 65.75 65.50 65.55 Wed sales 12.240 Wed's open im 68.626, up FEEDER CATTLE 50.000 cents per D. Oct 96 63.15 63.60 6315 63 52 Nov 96 63.45 63 65 63.40 63.67 Jan 97 64 27 64.60 64.25 64.32 Mar 97 6415 64 42 64 05 64.20 Apr 97 64 35 64.80 6435 64 62 May 97 65 00 65.30 64.95 65.02 Sep 97 66 00 66 20 6600 66 00 Wede sales 2,406 Wed's open mt 14238. down HOGS-Uve(297 Lean) 40.000 cents per Oct 96 55.27 56.30 55.05 55.92 Dec 96 54.05 55.12 53.95 54.70 Feb97 7455 75.50 7465 75.15 Apr 97 71.10 71.42 70 82 71.15 Jun97 75.70 75.95 7545 75.72 Jul 97 73.30 73 60 73.20 73 60 Aug 97 69.55 69 70 69.15 69.70 Weds ales 9506 Weds open 33231.

down -PORK BELUES 40.000 cents per Feb97 69.95 71.75 68 80 7030 Mar 97 70 00 71.70 66 60 70 00 May 97 71 85 72 30 70.40 71 92 Jul 97 7155 7225 71.40 72.20 Aug 97 70 95 Wed's sales 1521 Weds open ml 6207. down Spot oommodity prices: Prev. Year Close Day Ago Aluminum 60.3 59.4 74.0 Copper 94.00 97.0012600 Gold 380.60 381.50 381.75 Silver 4.925 5.050 5295 .65 .50 .13 .05 20 Precious Metals 5038 Money Rates 5039 1.77 51 1.006 Dec 97 Wed's sales Wed open mt 11.845. up 460 SOYBEANS 5.000 bu mnmum- dollars per bushel Nov 96 6 90 6 90 6 84 6 88 Key barometers in the Treasury market Yield Prev. Treasuries I 5040 Treasuries II 5041 'Corp.

Bonds 5042 CSCE 5043 5044 Spot Crude 5045 Exchange Rates 5046 Spot commodity prices Prev. Close Day Saudi Arabian Bght 2259 22.77 North Sea Brent 24.49 24.37 West Texas 25.43 25.18 Alaska-West Coast 23.07 2252 Jan 97 Mar 97 May 97 Jul 97 Aug 97 6 96 6 96' 6 89 6 93 --03VH 7.03 703 6.96 7.00 705 7.0SV. 7O07O3VH -03 7.06 7 08 7.01 7.05 V4 7.05 7.05 7.00 7.02 688 658 6.83 684 -27 -27 5.1875 5.1875 5.09 5.00 5.57 5.61 6.50 6.62 6.80 6.88 Federal Funds 3-month bill 1 -year bill 10-year rate 30-year bond Sep 97 Weds sales 59555 Weds open mt 183.469. up 1881 FOOTNOTES: New 52-woek tow. dd Loss 'm last 12 mos.

New issue in past 52 weeks, pf Preferred, a Split or stock drvidend of 25 percent or more in past 52 weeks. o-New 52-week high. Gregory Huck Bart Idle William Krueger Joseph Meyers Ronald Miller William Modlin Kit Paulin Mark Reynolds Edward Seymour Gerald Sheehan Gregory Bafford Thomas Caufieki Rodney Damery Paul Hagenbach George Hubbard AG Edwards Inc. IJ3J37 Michael Sheehan Roger Tice Kenneth Wade Frances Williams Rork Williams LM-39-0297-EDE 2884 N. Monroe Decatur, IL 62526 (217) 876-8500 800-388-1808 ifti'CJirrtcriu uiriLC uu.