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Show The National Enterprise, August 25, 1976 Page two Micron Mount Complaints Against SALT LAKE The CITY Utah Attorney Generals Office is investigating complaints against Micron Corporation (OTC .44, .69) and is considering legal action against the ing to David Schwendiman, Consumer Protection Division. company, accord- Schwendiman has -- re- ceived copies of a suit filed by the Colorado Attorney General's Office last month and said his division is looking into similar complaints filed with that office by Utah residents. The Colorado suit, filed against Micron and its. subsidiaries for S10 million, charges that Micron, et. al., engaged in deceptive trade practices, false advertising, and misrepresentations under the Colorado Consumer Protection Act. The companys head- - THE NATIONAL 50 Cents Per Copy Subscriptions $24.00 per year Esterpriie ii published weekly by the National Enterprise Publishing Company, Inc, 500 Continental Bank Bldg., P.0. Boi 11778, Pioneer Station, Salt lake City, Utah 84147. (801)533-055The NetieiMl 6 Second Class Postage Paid R. t. Salt Lake City Utah George Gregersen Publisher Alone E. Bentley Editor added to the costs of fopd orders, customers could not realize any savings from the plan during the first two years. Some customers will begin to save money overall in a period between 3Vj and 9 And years, the suit read. many other customers will never recoup the higher food costs of the first two years if their buying habits remain roughly the same over the years. The majority shareholder of Micron, Hussel, A.G., a West German firm, has established a similar operation, Lucero said, called Western Food Plan, Inc. and asked that the Attorney General dismiss the law suit against Micron. Lucero said the office has taken their case under advisement but at this time said, It wasnt a very acceptable solution. The Colorado Attorney General has attached all the assets of Supreme Foods, Micron, and subsidiaries. quarters in Denver could not be reached as the telephone number listed with Directory Assistance has been disconnected with no forwarding number. Assistant Attorney General (Colorado), Gene Lucero, said there is nothing left for Micron to do and that they had apparently closed opera- tions. He said Microns Sup- reme Food program was riddled with deceptive misrepresentations. According to Lucero, the Colorado AGs office had complaints ranging from poor quality food to deceptive practices. Micron and its subsidiaries had claimed, among other others, that consumers would immediately begin to realize a cost savings in their food bills, when in fact, according to Lucero, once costs of purchasing through the plan, including a membership fee and finance charges were 1 1 Hearings Slated for Land Withdrawals Hearings wrill be held at the Salt Palace in Salt Lake City Sept. 15 and 16 to discuss federal land with- from drawals mineral entry. Persons wishing to give testimony on policies and procedures related to land withdrawals or regulations that restrict access to federal lands for exploration and mining may contact Dennis Sachs, Deputy Assistant Secretary, Land and Water, Division, Department of Interior, Interior Building, Washington D.C. Ryan B. Poulton Business Manager Tax Credit Boosts Firms Earnings Mary McMillan Gaber - Dean Alsup Staff Reporters Peter Harrison Operations Manager . WICHITA, Kansas 1.870, 2.00) announced higher operating net income for the Energy Reserves Group (OTC second quarter of 1976. The company reported earnings of $962,000 or 2 cents per share on revenues of $14.3 million. In the same period last year, Energy Reserves showed earnings of $517,200 or 1 cent per share on revenues of $14.6 million. The company noted that in the second quarter of 1976, a tax loss carryforward credit of $620,500 made net income $1,582,500 or 3 cents per TRUCK LINE Does She difficult daily! Truck Line specializes in the transportation of specific commodities, including steel, machinery, construction and mining equipment, forest products, agricultural machinery and a variety products. Hauling heavy odd shaped loads is our business and we've become experts at it. The fact that we've now grown to where we rank in the top 10 percent of the over 500 Class 1 Specialty Commodity carriers in the United States is indicative of our success. F-- B of-othe- r share. We'd like you to become better acquainted with and invite you to send for our annual report. F-- B Write or call: Parker Truck Line 1945 South Redwood Road Salt Lake CHy, Utah 84104 Mr. Norton F--B For the six months of the year, Energy Reserves Group had net operating income of $2,572,900 or 5 cents per share compared with $980,800 or 2 cents per share in the same period of 1975. Revenues for the periods were $29,757,300 $28,329,600. loss versus In 1976, a tax carryforward of $1,790,500 made net income $4,363,400, or 9 cents per share. In accordance with Finan- cial Accounting Standards Boards statement No. 9, the company said it has retroactively restated its accounts to provide for income tax allocation on intangible drilling and development costs. This restatement resulted in a decrease in the second quarter and for the six month period of 1975 earnings before extra- We do the difficult daily! ordinary item of $343,600 and $776,100 respectively. Energy Reserves Group said the results of the restatement reduced net earnings as previously reported for the second quarter of 1975 from $1,293,000 to $517,200 and for the six month period of 1975 from $759,000 to $980,800. |