High Point Enterprise Newspaper Archives Aug 8 1976, Page 6

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High Point Enterprise (Newspaper) - August 8, 1976, High Point, North Carolina 6a High Point Enterprise. Sunday. August 8. 1976 businessmen still have reservations on Carter by Nea London economist news service new York very pro Carters is How Henry Ford of the Ford motor company. A Nixon Backer in 1972. Labelled himself when he asked other corporate leaders to lunch recently with the democratic party s presidential candidate in an old new York speakeasy. Few businessmen Are As enthusiastic though they do concede the former Georgia governor is a big improvement on sen. George Mcgovern the democratic party s Choice in 1972. The so so response the Carter Campaign has got from industrialists and from a Stock Market unmoved by his nomination is what his professional backers have come to expect. Philip Alston an Atlanta lawyer and Carter loyalist recalls that the georgian business establishment snubbed Carter when he campaigned for and won the governorship they Are not too disturbed. There Are outer limits to the coalition even so skilled a political welder As Carter can solder together. Most businessmen Are Well beyond these limits. They continue to vote Republican at least in presidential elections and Carter has concentrated his attention instead recently on warming up still tepid support for his candidacy on the Liberal Wing of the party and in the Trade unions his Choice of sen Walter Mondale for the Vic presidential Slot has not helped him with businessmen the Minnesota Democrat gets distinctly poor Marks from business organizations. He came near the Bottom in a study the american chamber of Commerce circulated on the voting record of members of the Congress last year on the chamber of Commerce s reckoning. Mondale voted against business interests on 15 out of 16 possible occasions. Only senators Church Abourezk. Leahy and Clark did worse. They flunked the free Enterprise test on All 16 occasions. Mondale cannot be surprised he has voted for the break up of the Oil companies. For continuing Price controls on Oil and Gas. For expanding picketing rights at building Sites and for a minimum income tax to catch corporations and Rich americans who now pay Little tax or none this puts him Well to the left of what businessmen perceive As the attitudes of gov. A Arter for As governor of Georgia. Carter leaned heavily on the advice of Charles Al rho. An Atlanta lawyer described As conservative on fiscal matters he was not above helping Lockheed to sell its wares it the company has a big Plant in Marietta. Georgia. He did not loosen the Legal straitjacket the state has put on Trade unions businessmen Are Only slightly agitated by the democratic party s election platform True it purports to pledge the party to reforms rated profligate or silly or both by business leaders including the indexation of the minimum wage. Costly welfare programs and standby wage and Price controls. But on past record such commitments carry about As much substance As a vote of thanks to the staff in a company s annual report the same tolerance was not shown to sen Mcgovern but then Carter has recruited a team of economists Ted by professor Lawrence Klein of the University of Pennsylvania. Who not Only know what they Are talking about but have convinced others that they do. Carter is a seemingly willing Pupil. Under their guidance he has come around to admitting that he talked nonsense in the a Jimmy w to Quot phase of his Campaign when he spoke of two per cent inflation two per cent unemployment and a two per cent rate of interest a revisionist Jimmy Carter is now merely committed to strive to Cut adult unemployment and he puts the stress on adult to three per cent of the labor Force within four years. That is consistent with an Overall unemployment rate of 4.5 per cent an ambition that Only the hardliners like William Simon the Secretary of the Treasury think too inflationary. Supportive programs too have moved a Long Way on from the political sloganeering stage. An earlier onslaught on the alleged monopolistic behaviour of the Oil companies has been refined to a possible Legal prohibition of ownership of competing types of Energy Oil and Coal for example. A pledge to a balanced budget has been honed to budgets balanced Over a business Cycle. The full employment program Breaks away from that old time favorite the Public works program. Instead Carter thinks aloud about tax and other incentives to entice businesses into hiring the Long term unemployed. With perhaps a civilian conservation corps. An old new Deal idea to mop up chronic unemployment among Black teenagers in the City centers then there Are plans still in the Chrysalis stage for a bigger Council of economic advisers to put As much work into studies and reports on the Supply Side of the Economy As is now done on the demand Side. Businessmen especially those on Wall Street Are much tempted the Republican administration of the last eight years has brought two deep recessions share prices on the new York Stock Exchange Are no higher in Money terms and far lower in real terms then they were in the Johnson years they Are impressed by arguments fora change in leadership. But then they think Back to the Johnson a great society Quot programs and president Ford again seems a reassuring presence. For it is now taken As a Given fact that the a great society Quot was a disaster a disaster caused by the free spending democratic party having control of the White House when it also had around a two thirds majority in both the House of representatives and the Senate. Business leaders Are haunted by the Specter of a repeat performance. Could a president Carter beat Back a democratic Congress that had an itch to spend after eight frustrating years of Republican control of the White House Many think not. It is always hard. Businessmen say. For a president to veto spending Bills harder still when they come from his own party and very nearly impossible when they Are backed by the party platform and new congressional leaders determined to show themselves effective. To generally conservative businessmen. Gerald Ford s veto of 53 Bills since he became president with few vetoes overridden suddenly looked very Good. They can see much Good. And not much harm in the country being ruled for another four years by a president who reminds them of president Eisenhower. 2nd Quarter corporate profits dip new York Nana numerous second Quarter corporate profits reports Aren t up to the expectations of Stock Market bulls. Moreover corporate profits gains for this year s second half will not make As pleasant Reading As did the first half gains compared with that of the like period last year. Reason last year s second half profits were not As bad As the first half which were the 1974-75 recession Law. To pm investors move is Surprise Stock quotes by the associated press quotations from the National association of securities dealers Are representative me dealer prices As of approximately 3pm daily. Prices do not include retail Mark up Mark Down or commission Aero Ron inc american furniture Atlantic Pepsi Bankers Trust of s c Bassett furniture Bilo Black kinds Branch corp Brenner ids Burnup amp Sims Burns ind Cannon Mills foods Carolina Cas ins car pm 9 i0pfd Caro steel corp Caro Wise fio Cato corp Central Caro Bank Central Vermont Chatham mfg a amps corp of s c coca cola co cons. Cochrane furn colonial life cd b comm Bank Conner Homes context Daniel internal Diamondhead corp Durham life ins. Eny Raph inc Fidelity corp of a f no of Catawba f pod town stores Farmers new world first Union corp Forsyth Bank Trust Franklin life ins Gray tool guardian corp bid asked 2 in t in 15 a 20 i a i i s i 6 3 e 2�?T4 17-tfc l�?T/4 3 i 96 22 2>% 3 a 12 v. 16 4 to 4 19 i i is 16 j 04 4h 2�?~4 17. I 1.4 3�?T 3 4 4 19 14 8 i of 4 15 Io-�?T4 2�?~4 6 4 23 5 2jy is 4 Siv 39 Ion id 3 24 i by 28 51. 20 4 14 3 i i 16 ip/3 3 7u y/4 2 8 20 4 4 3 24 5 3 28 16 4 s3�?T3 41 to a 20 244 i8u 3 a when somebody asks How old you Are. It is a Good idea to establish a fixed Point from which you can argue in either direction business notes by Kay Hubba advertising Kathy Vitale has been promoted from the retail sales staff to National advertising manager for the High Point Enterprise. Kathy Vitale is Vitale joined the Enterprise staff in May 1974 she was formerly employed in the advertising department of the Durham Herald Sun and the suburbanite newspapers. She is married to a. A. Vitale and they live at 2002-g Stonerbrook or replacement. It covers even such items As Oil replacement. A our experience with our present 50.000-mile rotary engine warranty has been so reassuring that we Are confident about making it for five years or 75.000 Miles and transferable to succeeding owners when the Mazda is sold Quot Hobbs said the program covers All current models rotary engined automobiles As Well As the rotary sport truck. Only one of its kind in the world. Chief chemist John r Carver has recently joined Marlowe Van loan corp As chief chemist in charge of research and Quality control Mazda warranty John a Don Gilstrap inc. Here is offering an unprecedented 5-Vear 75.000 Miles engine warranty transferable from owner to owner on All rotary engined vehicles sold after july 15. Jerry Hobbs general manager announced he said the warranty is believed the longest Ever offered on an engine in Auto history. The warranty which succeeds a 36-month or 50,000 mile warranty is backed by Toyo Kogiyo ltd., makers of the Mazda rotary engine and Japan s third largest Auto maker he said it offers free replacement of any component of the engine and the labor necessary to make that Carver Carver is a graduate Clemson University. He was formerly analytical chemical supervisor with Burlington industries in Greensboro and analytical group Leader in research and development with Collins amp Aikman corp in Charlotte he comes to Marlowe Van loan corp. From Proctor chemical co in Salisbury where he was group Leader in analytical department and Quality control manager he and his wife. Evelyn and two children will shortly reside at 502 Ashe Street in High Point Prudential office Robert a. Crumpton of Burlington has been promoted to sales manager in the High Point office of Prudential insurance co. Crumpton is a native of Danville. Virginia and was educated in Yanceyville he served in the . Army in Heidelburg and Frankfurt Germany and joined Prudential in november 1973. Crumpton is a member of the Burlington life underwriters assn., Prudential Century club leaders round table and million Dollar club he is married to the former Naomi Poole of Sernora they have one son Jeffrey. 4 record sales Wilton. Conn. Richardson Merrell inc. Announced record sales and earnings for the fiscal year ended june 30, 1976. Consolidated sales of the pharmaceutical firm were $745.9 million up 13.2 per cent Over the $658.7 million reported last year it was the company s 28th consecutive year of sales increases extend credit Framingham mass Zaire corp announced arrangements Are concluded with its existing 16 line Banks to extend its unsecured committed line of credit agreement through january 27, 1978, effective june i 1976. Lease from the Leader Lyles Chevrolet negotiate your 1977 leases now 1977 prices Start at 99. Your savings amp satisfaction dealer 1800 n. Mai Chevrolet 1840 phone 885-5171 Harreison rubber co. Heilig Meyers Henredon furn Hickory furn investment lat j b Ivey Justin kinds Kenan transport Lance. Inc. Lane co Leggett amp Platt Littfe gift Little mint Lowe s co Mack s stores Motti a pop s multimedia a cab corp n c natural Gas Northwest Fin inputs Northwest Fin corp Occidental Lite ins Peoples Bank amp test Ray of i hips Foscoe pro corp piece goods shops Piedmont aviation Piedmont reit units pm Kerton club planters nil Bank Public Sec of n c Quality Mill Pic corp Reid provident labs Republic Auto parts ring around prod rival my Rex plastics Salem carpet Sec merchandise Shon cys big boy Sofko products so Natl corp Sou Natl corp. Super Dollar stores Tei Erent Leas by textiles inc thalhimer Bros Triangle Brick Trion inc Uniti inc in Caro Banchs Universal foods a International a Natl Bank h b Walker shoes Washington group West k Outing corp White shield co Wix corp Wright machinery 19 4 3 s 2 s 6v4 i4 a i4 e 19 a 23 12 24 29 3 ass in 19 j to Jimj 3 8 7-�?Tn 3 33 3. 33 3 l6 -3 id i 0 4 a pm 13 Haj 4/4 7 20 4>4 2 3 6 4 i5h is1 20 24 12 3 3 30 a 6 8 2 8 20 4 iou 12 3 81 3 4 35 3 4 5 4 4 34 v4 18 114 la 8�?T3 3 -4 14 3 24 24 i a a 14 29 4 16 a 17- a 2 h la 13- a 12 3k, 6 1 3�?Th 14 16 8 it 3 17 3 34 5 3 iou i to a iou us 34 19 4 14 3 30 a 17 a iou 38 3s 144 12 3 3 a 7 3 4h 15 3 i7k i?1 j 18 3 4 3 6 3 by John Cunniff a business analyst new York a general motors surprised a lot of people shareholders and Union officials among them with the timing of its announcement this week that it was restoring its quarterly dividend to 85 cents a share. Although the world s largest manufacturer had declared a special 50 cent dividend earlier this year it has left the quarterly rate at the recession level of 60 cents Industry analysts thought it would continue. Among the reasons Given was the company a need to retain capital for expansion and the Quot necessity Quot of waiting until wage negotiations were Over lest workers use the dividend increase As an argument for a pay raise. Pm did t listen to the analysts. After recording an amazing profit of $909 million in the second Quarter and expecting a Strong third Quarter As Well it decided to turn Over close to $244 million to shareholders. That roughly is the sum that 85 cents a share equals when multiplied by 287 million which is about the number of shares owned by about 1,325,000 pm shareholders. You May be sure that critics of pm will be Quick to argue that this $244 million represents a Takeoff by the Rich ignoring the simple division that reduces it to $107 40 per shareholder. Pm is huge and because of this it produces huge numbers of cars sales dividends wages profits taxes its sales figure is to Many people almost incomprehensible some $35.7 billion in 1975. But All pm numbers Are that Way. Last year it employed 681,- xxx men and women and that was a depressed figure in 1974 its employment was 734,000. Its payrolls last year totalled More than $10 billion and yet 1973 was a bigger year for payrolls. Since it is so big. The numbers sometimes obscure the fact that pm. And other Lare companies too Are social organizations into which Many people contribute and from which Many people receive benefits More surprising than the fact of a dividend restoration at what some people consider a strategically bad time is the distribution of the enormous revenues that flow into pm. Last year according to the pm annual report 53.4 per cent want to suppliers 34 per cent to workers. 6.6 per cent to taxes. 2 5 per cent for depreciation. 2 per cent to stockholders 1.5 per cent for a use in lease or buy your next car or truck at Ilderton now taking orders for 77 models or lease or buy a 76 Model in Stock it makes All the difference in the world when you lease from us see or Call us Howard stuffs Larry Forrester or William Bell Ilderton Dodge a acidic an City of High Point 885-4091 8 i a wet atm i my we warn my Mam Rumm War so Wulw in of i i three exciting i w Ilon Doni Highland leasing leasing relieves More headaches than aspirin. And it does t upset your stomach. Contact Eddie Knox Fleet lease manager Highland oids Cadillac 2506 North main 869 711 i i i i i show Tours London Amsterdam London Paris London / Copenhagen British airways invites you to the european capitals of show business my performing arts at amazingly Low prices one week Tours rom $105, september to through october 31 two weeks trom $lo5, Nova through october 31. Air Tare extra. Call or Send right away for details. Name address i i b a a e i s Telephone world travel Agency Carolina motor club 759 North main St. High Point. N c. 272o2 Tel 919 882-8120 my my in mum my. a who a Joe the Only qualified candidate for insurance commissioner a eth. Johnson. Joe wants to bring you lower rates Tor Young male Drivers really useful consumer information and better health insurance programs for the past four years every Good insurance program promised has been hogged Down in tile courts. A commissioner who knows what he a doing have to spend his time in court. In Short Joe Johnson wants to he the insurance commissioner we have not Hail Tor four years. No other candidate has qualifications like Joe is head of the business administration department at a 14-year-old business professor specializing in insurance education a doctorate in business administration. Joe Johnson is author of numerous papers articles and Hooks on the subject. A a a Johnson has the experience education and training to be commissioner of insurance. Had enough of professional political tile other fellow running for this office is a professional politician has been for years. He does not know very much about effective and fair insurance regulation. Joe Johnson does. Joes whole life has been dedicated to learning about insurance. Joe actually is ill at Euse in a political role. But he really shines when it comes to understanding insurance. And that a what counts Isnit the people of Nav. Need what Joe Johnson has knowledge of insurance. Experience. Understanding of Complex issues. Tile ability to reason. A desire to serve. Plans for insurance Reform to help you the insurance consumer. W How a Joe Joe is your next insurance commissioner. Tile Only qualified candidate Joe Johnson Democrat for insurance commissioner paid to by Johnson for Rance commission Fri Summitt e Waller Faison treasurer

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