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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Apr 21, 1972
Page
4
NYC and Chicago based CNA executives explain reinsurance as a funding cushion for catastrophe losses. Bill Gilmartin notes U.S. or global play, with profits and risks, outlining inflation’s impact and industry cycles. He warns newcomers’ weak reserves could threaten stability if a big disaster hits.
A six step internal promotion chain at Sears began with the retirement of Arizona District Manager William Plummer. Howard Lasky moved from Geary Street San Francisco to Arizona DM. James Besse replaced Lasky in Arizona, then Max Saftenberg became Scottsdale manager, Vern Boyle rose to Arizona Merchandising Manager, Arthur Lewicki took over Camelback, and Richard Root moved to Lewicki’s post. Promotions continue in California as openings arise.
Salt River Project sells 49 million dollars of municipal bonds at a low net interest cost of 5.3583 percent to finance electric facility construction. Chase Manhattan Bank leads the winning bid amid strong market confidence. Bonds rated Aa by Moody's and AA by S and P.
Raleigh W. Greene vice president of NLISA predicted another record housing year in 1972. Speaking at the Mortgage Bankers Association conference in Atlanta he cited a 56.2 percent rise in new S&L mortgage commitments and a 54.2 percent jump in total loans in the first two months of 1972 compared with 1971, noting broad gains in single family and multi unit lending.
Frontier Airlines plans a joint ski show with Purple Ski and regional resorts at Del Webb's TowneHouse on Oct. 9. Phoenix area skiers will be invited to meet resort representatives and view the latest ski equipment and fashions. The event follows a planning meeting in Scottsdale with Ski the Rockies members and includes Aspen, Breckenridge, Vail, Jackson Hole, Sun Valley and other major resorts.
Irene M. Andrie was named assistant administrator at Camelback hospital by Frank J. Dunning. Emory F. Howe retires as president of Howe and Howe Sales, with Lincoln B. Howe succeeding. Robert L. Quinn earned the CMR designation. Roger A. Hart attends a New York Life field underwriters conference. Valley National Bank promotes Chris N. Liuzzo to purchasing and supply manager. Three Scottsdale residents receive promotions at Valley National Bank including Robert Huigens, Robert Kermott, and Harry Haugen.
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