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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Dec 20, 1975
Page
17
In a season of offices parties and bonuses analysts note a year end rally in stocks may occur as portfolios rebalanced for taxes. The Santa Claus mood also boosts Main Street retail though gains are modest with November sales up about 14 percent from last year, largely due to inflation.
Long Beach opens the Union Bank Building at Ocean Boulevard and Golden Shore in the Oceangate Financial Center. The 171000 square foot facility houses the regional head office with staff from two former Long Beach offices. The downtown and North Long Beach sites are repurposed. Formal opening is planned for January.
Memorial Hospital in Long Beach now provides a financial counseling service to help prospective patients understand insurance coverage and estimate costs before hospitalization. The program, led by a financial counselor, guides pre admission steps, possible financial aid, and arrangements to reduce surprise bills, with emphasis on early planning and cost saving options.
Economist William Burke notes in the Federal Reserve and Commerce Department report that 1976 could see a boost from business capital investment. He says the recovery has relied on consumer spending and exports, and a capital upturn would sustain growth with a 12 percent annual gain in plant equipment spending in early 1976.
California savings and loan industry posts a 1975 net savings rise around 7.75 billion, a record. Real estate loans approach 9.5 billion with deposits exceeding 47.5 billion and total assets near 58 billion. For 1976 the industry projects about 6.5 billion in net savings amid rate changes and recovery.
Robert L Hayden designated vice president of the Market Basket marketing area for The Kroger Co. overseeing 66 Market Basket stores in the Los Angeles four county region from the Los Angeles marketing HQ at 6014 S. Eastern Ave. Hayden succeeds Richard M Koster who is promoted to vice president Merchandising for Kroger at Cincinnati. Koster will head merchandising for the 1225-store firm. Hayden a 25 year veteran has led merchandising and operations at Market Basket. Koster has led Market Basket since 1971 after roles in Kansas City and Chicago.
James F. Montgomery of Mel Burns Ford is elected president of the Sales & Marketing Executives of Long Beach succeeding Ted Court ney. Other officers include Wayne Alvey Al Lowder Milk Frank Young Donna Cole Nick Edwards Bud Jackson Jim Kennedy Lars Eriks on Grady Ragland Harry Scholar Chuck Davis Courtney and Millie Guy serves as executive secretary. The SME meets monthly in the International City Club.
A market snapshot from New York shows mixed moves as representative interdealer quotas apply at 9 AM. Price quotes reflect no retail markup or markdown with a broad list of major banks insurers and corporations trading, including AmGuardin Ze, Bank Amer, CocaCola, General Electric, and various insurers and industrials.
Fragmented OCR text reports on investment trusts and financial figures in New York markets. Mentions Keystone Funds Apollo Ki, various percentages and dollar values, and references to reserves and fund activity amid unclear context.
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