The Kokomo Tribune from Kokomo, Indiana • Page 14
- Publication:
- The Kokomo Tribune
- Location:
- Kokomo, Indiana
- Issue Date:
- Page:
- 14
Extracted Article Text (OCR)
I Business 14 Kokomo (Ind.) Tribune Thursday, Nov 15 1990 Financial wizards picking war dates By Dirk Beveridge AP business writer NEW YORK (AP) If U.S. forces attack the Iraqis during a 10-day period beginning Monday, at least two financial advisers can chalk up one for their handicapping abilities. Anytime after midnight between Monday and Nov. 22 is "the best time for an attack to occur," according to Peter Beutel and Thomas Blakeslee, oil analysts with Pegasus Econometric Group Inc. in Hoboken, N.J.
The Kuwaiti tide will be high after midnight, which would help commandos get closer to a beachhead, and the moon phase will keep the sky dark, making it easier to storm the desert, the analysts say. As news and rumors on the Persian Gulf crisis drive the markets up and down, many experts who ing see war their as hand inevitable are now tryat pinpointing starting time. Dates on which war might begin are circulating freely through the investing community, with varying credibility. The Pegasus analysts, who offer advice on oil trading at the New York Mercantile Exchange, have gone so far as to put their predictions in writing. They call Nov.
12-22 "a time to play any short positions extremely closely. If there is any military action, expect the U.S. to lead with its JUST ARRIVED! NonCELEBRATION SERIES PLATES ANNUAL CHRISTMAS PLATE "CHRISTMAS EVE" Hurry! For Best Selection Come In Sign Up For P. Buckley Moss Membership Society STINER'S CAMERA GIFTS 3750 U.S. 31 BYPASS 453-3570 strong aerial suit." They emphasize they're not predicting war and don't want to convey the impression that there's 8 sure-fire profit opportunity.
They are merely saying when and how they think war would be most likely. Other picks are cropping up by the hundreds. Many analysts picked the days after the elections. Some are taking coming holidays into account. "Another theory hears about is the weather factor," said Ann-Louise Hittle, a senior oil analyst with Shearson Lehman Brothers Inc.
who emphasizes she is neither making nor touting any picks. to lend at 10.75% a.p.r. See us at Southway Square. SUMMIT BANK Equal opportunity lender. Approved applicaton required.
nunimum loan for 10 759 PI rate. Direct loans only. Maximum 4-scar term TAX-FREE MUNICIPAL BONDS ARE FREE OF BOTH FEDERAL AND STATE INCOME TAX to Denise Stover, Wayne Luttrell, Craig Dunn 457-1134 FOR INFORMATION. Some Bonds May Be Subject To AMT. SPEL INVESTMENT BROKERS City Venture One corner of Washington and Walnut Member NASD SIPC 457-1134 Mortgage SPECIAL Building Lot Delbert J.
Schuh I1, acting president of the Indiana Corporation for Science and Technology (Tribune photo by Brian Reynolds) during an interview before the seminar. "No one is aware of us here in Kokomo." The program received a lot of attention and subsequent grant requests in 1982, when it was created and Indiana was still recovering from recession ills. As a result, Schuh said the group has since been "lulled into thinking that everyone knew about CST." The primary goal of the group is to identify, develop, and put advanced technologies to work in Indiana, thus strengthening the economy and leaving it less vulnerable to down cycles. The program provides loans to support early phases of research, development, and testing for new business ventures, as well as for existing Indiana companies. Last year, more than $5.6 million was committed to help companies get started.
The program targets manufacturing, medical, and commercial businesses, as well as business services, food and agribusinesses, and educational and training services. The CST is already beginning to have an impact on the state's Home prices high despite recent fall By Pamela Reeves Scripps Howard News Service Interest in CST low here By Dave Phillips Tribune staff writer When the Indiana General Assembly created the Indiana Corporation for Science and Technology in 1982, Kokomo looked ripe to benefit from the corportion's efforts to help cultivate high technology companies in Indiana. The city was already home to a diverse base of high-tech manufacturers, Delco Electronics Corp. and its band of suppliers among them. On paper, all the necessary ingredients seemed in hand to incubate spin-off enterprises.
What venture capitalists were to California's Silicon Valley during the late '70s and early '80s, the CST would be for Central Indiana's budding entrepreneurs who were eager to produce and market high-tech goods, yet lacked seed money. The idea was to keep Indiana business and industry competitive. But in the eight years since the group was formed, grant money has only trickled here. Components General a manufacturer of metal parts and components, is the only Kokomo company to receive grant money. Haynes International Inc.
applied for aid, but was turned down when the company failed to convince CST officials they needed financial assistance. Instead, grant money has flowed to Lafayette, Indianapolis, Fort Wayne and Elkhart. "We've had one development request from Kokomo," said Delbert J. Schuh I1, acting CST president. "We should have 100.
"It's our perception that word has not gotten out that business and technology counseling is available at no Now, the CST is attempting to change all that by targeting communities where grant requests have been low. Wednesday, at the invitation of Delco Chairman Donald J. Almquist, 80 community and business leaders gathered at Delco for a four-hour seminar on CST's services and programs. Almquist is a member of the CST's board of directors. CST officials don't blame the low number of grant requests from Kokomo on a lack of potential start-ups, but rather on the group's low visibilty here.
"We have not been aggressive enough." Schuh said Wednesday Home prices fell in half the nation's 25 most expensive housing markets during the past year, and sales in many of those areas are down by more than 10 percent. The latest figures from the National Association of Realtors show that home sales and prices are still very weak in most major population centers. Between the third quarters of 1989 and 1990, prices of existing homes fell in Los Angeles, San Francisco and Orange County, and in large areas of New York, New Jersey, Connecticut, Rhode Island and Massachusetts. In all of those places, the median home price is $100,000 or more in many cases, much more. The figures show that while home prices are falling, they're probably still too high to be affordable to many buyers.
For example, housing prices declined almost 10 percent in the Bergen-Passaic areas of New Jersey the largest price decline in the country but the median home price there is still $187,200. In Los Angeles, where prices are down almost 5 percent in the past year, the median home price has settled at a hefty $211,400. Is it any wonder that home sales fell almost 19 percent in California in the past year and close to 5 percent in New Jersey? But sales also fell in many states with more moderate prices. Realtors said 29 states had fewer home sales in the third quarter this year than during the same period a year ago. Sales were down 20 percent or more in Massachusetts, Delaware, Rhode Island and New Hampshire, and there were smaller double-digit decreases in Califormia, Illinois, Tennessee, Maryland, Washington state, Arkansas, Mississippi, Nebraska and Hawaii.
There are bright spots. Texas has bounced back from a depressed market, and home sales have increased almost 9 percent in the past year Californians looking for affor dable housing have pushed prices up almost 25 percent in the state capital, Sacramento. Some left the state and headed north to Seattle, Special sirtine meals are available to health. conscious travelers. No reason 15 needed to order from these menus, but you do reed to let the airline know advance Hours prior How many hours in to flight advance vanes sugar Delta American USAir Low-sodium 8 Co 8 12 24 24 United 1,2 24 12 24 24 24 SOURCE Environmental Nutntion 1 ALs Marsh earnings up YORKTOWN, Ind.
(AP) Second quarter earnings for Marsh Supermarkets Inc. rose 22 percent to a record $4.1 million, or 52 cents per share over the same period last year. Marsh announced sales increased 11 percent to $333 million during the 16 weeks ending Oct. 13, compared to $299 million for the same period last year, when earnings were $3.3 million, or 43 cents a share. For the first 28 weeks of fiscal year 1991, Marsh earned $7.4 million, or 96 cents per share, up 24 percent from last year's $6 million, or 77 cents per share.
Revenues rose 12 percent to $584 million from $519 million. Marsh operates 79 supermarkets and 168 Village Pantry convenience stores in central Indiana and western Ohio. Bank purchased INDIANAPOLIS (AP) Closing documents have been signed for INB Financial purchase of Peoples Bank Evansville following the southern Indiana institution's conversion to a commercial bank. The merger agreement required Peoples, which had 1989 year-end assets of $135 million, to convert from a state-chartered, mutual savings bank to a stock, statechartered commercial bank, INB said. Peoples distributed a surplus of $5.9 million to eligible depositors before INB bought 435,000 shares of Peoples stock at $20 each for a capitalization of $8.7 million, INB said.
Peoples has been renamed the INB Banking Co. Southwest and is the fourth-largest bank in Vanderburgh County. It operates seven offices and has a 4.7 percent share of that county's $2.5 billion in total assets, the parent company said. INB is the state's largest independent multi-bank holding company. It also has acquisitions pending in Salem and Columbia City.
Execs promoted INDIANAPOLIS (AP) Less than two weeks after WTTVChannel 4 ended local news and fired 26 employees for economic reasons, two top executives of the independent television station have been promoted. Fred Barber, formerly vice president and general manager, has become vice president for television for parent company Capitol Broadcasting and general manager of its flagship station, WRAL in Raleigh, N.C., he said. Barber will supervise Capitol's three stations in Raleigh, Indianapolis and Charlotte, N.C. Former WTTV news director Doug Ballin on Monday assumed the same position at WRAL, where the news department has about 60 employees, Ballin said. WTTV station manager Will Davis has succeeded Barber as general manager.
Makes Forbes' list a manufacturer of joint replacement parts and other orthopaedic products, was named one of the nation's 200 best small companies by Forbes magazine. The rankings appear in the Nov. 12 issue. "We're very flattered," said company president Dane A. Miller.
"We've worked awfully hard, and we're pleased to see others recognizing us for our hard work." Biomet, which employs about 1,200 people, is growing at about 30 percent a year, according to Bonnie Parker, an analyst with William Blair, a Chicago investment firm. Sales have gone from $33.1 million in 1985 to $162 million in 1990. Analysts predict they may reach $200 million in 1991. Earnings per share on the over-the-counter stock went from 78 cents in 1989 to $1.08 in 1990. The stock closed Wednesday $28 a share, down 0.375 Biomet has plans to enlarge its Warsaw headquarters with a $10 million expansion project slated to be completed within 212 years.
Biomet, begun in 1977. manufactures artificial replace ment parts, including hips, knees, shoulders, wrists, elbows and big toes. WARSAW, Ind. (AP) Biomet nI 3 economy. The program reached a milestone last year when five companies that received start-up money each posted $1 million in sales.
CST's royalty payment receipts from companies who have introduced products more than doubled this year, reaching $500,000. The group is also credited with boosting the state's medical device industry, as well as computer software manufacturing. For companies like Delco and cities like Kokomo, who rely on small company growth for supplies and economic stability, the advantages of using CST are clear, Schuh says. "Don Almquist recognizes the importance of start firms and that you have take advantge of Schuh said. "Large industry is downsizing and being replaced by smaller Schuh believes the Kokomo area is ripe for more start-ups in mold manufacturing operations, microelectronics and metal treatment, such as advanced processing of raw materials.
The CST last month opened the Fort Wayne-based Indiana Microelectronics Center to assist Indiana companies in utilizing modern microchip technology in their products. CUSTOM BUILT BARNS FOR RENT OR SALE Enhance your property with a custom built shed. Year Round Service Rent A Storage Shed Have It Delivered To Your Home For Less Than A Day! Dog Houses Picnic Tables Available N. AT PLATE U.8.31 457-8037 were prices also rose by nearly 25 percent. Philadelphia had price increases of almost 11 percent in the past year and Chicago's prices rose 9.5 percent.
Prices rose in the 12 percent range in both Phoenix and Las Vegas. A number of smaller urban areas had price increases in the 3 percent to 6 percent range in the past year. But prices were stagnant or lower in almost 50 cities. 2. $50,000 mortgage, 25 years 8.25% 288 at $448.63.
Index 11 points, 12 at $394.23, Rate 1 Year T-Bill. 3. $50,000 mortgage, 15 years 9.88% points, 180 at $533.64. 4 interest rate is fixed for first seven years of the mortgage. The loan automatically 30 converts to a one year ARM on the 85th month.
$50,000 mortgage, years 9.99% points, 84 at $438.42. Based on current one year index plus a margin of the $438.42. Index Rate: 1 Year T-Bill. remaining 276 payments would be 5 $10.000 mortgage, 5 year point. 59 at $130 77 and one payment at the balance plus year Amortization 9.75%.
interest. Loans Money 10.05% 9.75% (5) APR 6 Month Adjustable 1 Year Adjustable Fixed Rate Mortgage Rate Mortgage Rate Mortgage (15 Years) Mortgage Two-Step (30 Years) 7.55% (1) 8.25% (2) 9.88% (3) 9.99% (4) 9.82% APR 9.87% APR 10.10% APR 10.17% APR $50.000 mortgage, 25 years 7.75% points, 6 at at $427.27, 288 at $448.26. Index Rate: $377.66, 6 Rate) 6 month T-Bill (Investment BUYING -REFINANCING BUILDING Call 457-5552 For Details First Federal Member Dal. Bank F.D.I.C. of Kokomo 2 suf:.
Get access to Newspapers.com
- The largest online newspaper archive
- 300+ newspapers from the 1700's - 2000's
- Millions of additional pages added every month
About The Kokomo Tribune Archive
- Pages Available:
- 587,924
- Years Available:
- 1894-1999