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New Braunfels Herald Zeitung: Sunday, November 17, 1985 - Page 5

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   New Braunfels Herald-Zeitung (Newspaper) - November 17, 1985, New Braunfels, Texas                                Producer Price smess November PageSA Area MBank not affected by retirement option Carol stands with Dennis and Margie builders Montessori builds Tittle log schoolhouse MBank New Braunfels will be unaffected by a systemwide early retirement option offered by according to Joe chair man of the board of MBank New The early retirement option is be ing offered to employees who will be at least 55 years old by the end of the year and who have worked for the corporation at least 10 This op tion is available to all eligible MCorp employees in the 63 member banks in Its not going to effect us at Seibold He added that only one employee at the New Braunfels bank is eligible for early The bank has 45 Seibold said the early retirement option was not cause by economic The early retirement option of fered by MCorp should in no way be compared to the Interfirst reductions a Dallasbased banking has announced it is restructur ing the organization and several posi tions will be the reduction in personell is a result of tight market conditions caused by bank Seibold said economic conditions in New Braunfels are He said New Braunfels is experiencing more economic development than some other areas of the I dont think business is the same throughout the MBank New Braunfels is having a tremendous think the New Braunfels area is very stable Seibold He added that growth and new building in New Braunfels is respon sible for the good economic condi Seibold said the one New Braunfels employee eligible for early retire ment is not interested in He has looked it over and decided he wants to keep working for us and were glad hes staying with he This is a strictly optional pro This is not the first time Ive seen early retirement options offered by this bank or other banking cor Its not a unique or new Seibold said he is not sure whether MCorp will continue to offer such an attractive retirement Seibold said recent deregulation should not affect fees for bank ser We are always looking to improve what we are he Our fees are always being reviewed and dont think that I see anything on the drawing board at our bank where fees will be increased because of recent Carol New and Virginia have moved their 25yearold Montessori School system from and began construction of a new log school house on FM 306 in Comal a pioneer in Montessori education in Texas and an associate of The Association Montessori Inter national and Mario mov ed to Comal County six years ago and established the Rocking Double F farms located in Comal She says of her and Buckleys decision to reestablish The Texas Montessori Education Center and The Little School House in New The years from to 6 are crucial for setting down lifetime attitudes toward We are delighted to have the opportunity to serve the children and families of the Texas Hill Buckley has a master of education from the University of Hartford and a Primary Diploma of the Associa tion Montessori Internationale from the Washington Montessori On the reestablishment of The Lit tle School House in the Hill Buckley We are dedicated to providing an environment conducive to each childs social and physical The Montessori method of learning is based on the teachings of Maria Montessori an Italian educator and Montessori established methods of developing a childs natural abilities by encouraging the utilization of all senses and providing the child with the freedom to Since its first in troduction in the Montessori method has spread rapidly and wide ly throughout Asia and For more detailed information and to arrange for an we re quest that you call or write to Texas Montessori Education Star Route Box New 512 Chipman changes logo Cluett merges with WestPoint The Guy Chipman based in San has changed its On John presi dent of Guy addressed of Guy Chipman agents and employees at the San Antonio Museum of Commenting on the competitive real estate market today and the goals of Guy Chipman Company in supporting its Drought we are continuing to make changes and stay ahead of the Guy chairman of the traced the history of the com pany This marks the first time in 22 years that the San Antonio based real estate firm has changed Joseph chairman of WestPoint and Henry chairman of Peabody announc ed that their companies have agreed to a merger Cluett will become a whollyowned subsidary of The transac tion is valued at approximately After the the two which had combined sales in 1984 of will become a diversified supplier of branded consumer soft goods with substantial private label Our product lineup will include such wellknown names as Arrow Martex and Lady Pepperell bed and bath Gold Toe Cabin Craft and Burberrys they and designer labels will include those of Alexander Perry Ron Chereskin and Under the terms of the merger Cluett stockholders will receive for each share of common stock either in cash or WestPoint com mon stock equivalent to West Point shares for each Cluett common stock which represents per Cluett based on WestPoints closing price of per share on The equivalent share ratio will be adjusted to maintain this value if WestPoints average share price during a specified period prior to the effective date of the merger varies from by not more than Each share of Cluett preferred stock is convertible into shares of its common In the holders of each share of Cluett preferred stock will be entitled to receive either in cash or a frac tion of a share of WestPoint common stock based on shares of Cluett common Under the merger 55 percent of the outstanding Cluett common shares assuming full con version of the preferred stock will be converted into the right to receive WestPoint common and 45 per cent will be converted into the right to receive in the cash available in the merger will be reduced to the extent that WestPoint makes certain purchases of Cluett as described WestPoint stated that it has entered into agreements with Paul Bilzerian and with Craig Hall and three related stockholders to acquire the percent of the outstanding Cluett common stock they Blizerian has agreed to terminate the tender offer by his CPC Acquisition for his to dimiss all pending litigation between himself and Under the merger WestPoint also has the right but is not obligated to purchase in open market or private transactions an additional 5 percent of the voting stock of Cluett equivalent to ap proximately shares Assuming that these purchases together with the Bilzerian and Hall purchases are ap proximately 75 percent of the re maining outstanding Cluett common shares assuming full conversion of the preferred stock will be con verted into the right to receive in In connection with entering into the merger agreement with the Cluett board of directors has redeemed the rights associated with Cluett common stock which were issued to shareholders in September pursuant to the terms of a Rights Plan adopted on by Cluetts exchange offer has also been WestPoint and Cluett stated that the merger is intended to qualify as a taxfree reorganization with respect to the Cluett shares that are exchang ed for shares of The tran saction is subject to customary con ditions and approvals by the shareholders of both its corporate During that the Guy Chipman Company has grown from a oneman operation to 10 offices including Universal City and Boerne with 200 sales associates and approximately million in Diana Chipmans director of marketing and Skipper Wood of Atkins and Associates Advertising presented the logo on the wide screen of the The Chipman Company plans to continue the transition with business stationery and exterior office Dont mouse around Sell it in the Herald Classifieds B2S9UA Meet Robert Sohn Diamonds tc Deliaht in 14K p j M SAMIS JEWELRY 173 Seguin New Braunfels f 6293318 New Braunfels National Bank is proud to introduce Robert Sohn as a member of our Industrial Ad visory manager of New Braunfels Utilities since is a Purdue University graduate with a degree in Electrical He has had extensive experience in lighting design and has taught classes at San Antonio College in his Bob started his interest in electrical engineering before his entrance into the United States Air Force in 1950 and completed his work toward his degree af ter his honorable discharge in Sohn has served the New Braunfels area as President of the Greater New Braunfels Chamber of President of New Rotary member of the Wurstfest Chairman of Central Texas Golf member Board of Education of and is now a member of the New Braunfels National Bank Industrial Advisory Bob and his have two grown He lists fishing and outdoor activities as a few of his many With Bobs illustrious we are proud to have Robert sohn as a member of our Industrial Ad Member of New Braunfels National Bank Industrial Advisory Council Robert Sofcn N Utilities 1000 6258587 New Braunfels National Bank   

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