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Show o B AgBusiness C3 Business Trends C5 BirthsScouts C6 c i Sunday, June 6, 1993 The Daily Herald This is clear beer image, Could be mission impossible to your finances beverages By ROBB HICKEN Herald Business Editor After a few moments of liquid puns, one thing became perfectly clear: There is a change of color in the beverage industry. With bottlers and beveragers taking in some billions of dollars annually, the clear motivation is to get people to drink more. With that in mind, there is an effort to make sure the public gets what it wants. PepsiCo. Inc. started what may be called a disappearing of color. Crystal Pepsi was the cola that didn't look like a cola. ICS BmByts 65 By VIVIAN MARINO AP Business Writer - NEW YORK It's like a script from an underworld mastermind's "Mission Impossible": h high-tec- thieves install a phony automated teller machine at a suburban Connecticut mall, steal data from user cards and bilk bank accounts na- tionwide. Or how about this: Crooks in New York furtively videotape ATM users as they punch in their secret access codes. The videotap-er- s use the information to make cash withdrawals. Then there's the con artist in Fairfax County, Va. , who posed as a bank manager, duped bank-car- d theft victims into revealing confi- - light-tastin- The explosive growth in automated telier machines has ; revolutionised consumer banking. But it's also viewed as a potentially fat target for criminals from brazen armed-robber- s to g computer nerds. Growth in monthly transactions per atm: They say average bank customers, especially those gearing up for some heavy ATM use this summer, have little to worry about as long as they guard their personal identification numbers, or PINs, and take proper precautions when using a bank machine. 'I characterize the Connecticut incident as a fluke. The chances of ' so 80 4 ZrV p4- - 70 m soft-color- ed al try. code-crackin- TERMINALS (in thousands) '60 '82 "84 money-launderi- (in millions) 600 500 Gone are the days when criminals could brazenly haul shopping bags stuffed with cash into banks 400 300 200 '80 money-launderin- '82 '84 '66 '88 '90 '92 Source: Bank Network News, Bank Administration Institute 4 Utah's adjusted gross income grew 10.2 percent between 1990 and 1991, while the number of federal tax returns filed grew 6 percent, a State Tax Commission Report said. The report shows total federal adjusted gross income for the state rose from $17.5 billion to $19.2 billion. The number of personal which roughly exemptions equals the number of people in the state increased from .55 million to 1.65 million. Park City led the state as the most properous city, with an average adjusted gross income of $39,413. Behind Park City, in order, were: Stansbury Park, Tooele County, $39,273; Liberty, Weber County, $36,910; Farmington, Davis County, $36,081; Alpine, Utah County, $35,528; Pleasant View, Weber County, $34,958; Fruit Heights, Davis County, $34,881; Sandy, Salt Lake County, $34,372; and Centerville, Davis County, $33,285. The area of Cedar Valley showed a 40 percent adjusted grow th income increase during that period. g Listed as the two contributors to income were partnerships and sole proprietorships, with the first growing more rapidly than the second the report reads. 1 fastest-growin- L1 1 I. Sasrrr? (mm card. By the end of May, $65,000 had been stolen in about one month's time from several accounts using ATMs in Virginia, North Caroli- ' na, Georgia, Florida, Maryland and New York, said Secret Service 9 sophisticated than ever. This was the overriding message g at an international conference last month in Miami, still a leading departure point for hidden billions every year. And money-launderin- last week in Washington, the House Banking Committee held hearings on what else can be done to block the flow of money that helps finance America's drug cri"People cannot go into banks like they did 10 years ago with suitcases full of cash," said Michael McDonald, money-launderiexpert with the Internal Revenue Service in Miami. "So there has been a revitalization of established money-launderin- g ' I (See ATM, Page C2) sis. for deposit. But federal agents g say combating the money is still entering the banking system, only in slightly more sophisticated ways than it used to. And the oldest ways of moving money through smuggling and importexport are more 100' AP Utah will participate in an earthquake drill sponsored by the Federal Emergency Management Agency (FEMA) on June 7. The drill, known as "Response '93," simulates the effects an earthquake with a magnitude of 7.5 on the Richter scale would have on Salt Lake City and surrounding communities. Bob Carey, Earthquake Preparedness Information Center, said, lUtah was chosen because it exhibits the highest risk in the region for a catastrophic earthquake." Most of the general public is not involved directly in the drill, said FEMA director for the Salt Lake office Lance Peterson. Newspapers er MIAMI Seven years after made Congress a federal crime, launderers are using the same old techniques with new twists to spirit away the Tax Man. evade or drug profits 700 A ATM-relate- d popular and cleverly disguised By MARILYN ADAMS Knight-Ridd- that happening again are very, very small," said Ronald H. Reed, senior vice president for Plus System Inc. in Denver, one of the nation's largest ATM networks. Sean Kennedy, president of the Electronic Funds Transfer Association, a trade group in Herndon, Va., agreed: "There isn't much ATM fraud right now that people are aware of. There's probably a potential for a problem, but in actual practice it's not a widespread, industrywide problem." Statistics on losses are hard to come by. Industry experts say there's no central tracking system among the ATM networks mainly because each reported theft is relatively small, usually totaling under $ ,000. In many cases, they say, fraud is committed by a relative or companion of the bank customer. Even in the Connecticut case, which authorities are calling one of the more ingenious frauds, the total take is still considered well below what thieves can run up from each stolen or counterfeit credit scams get ATivl '86 '88 '90 '92 TRANSACTIONS 87,-00- to say the least." Yet industry experts insist that ATM fraud still is relatively rare with losses minuscule compared induswith those of the credit-car- d Do-it-yours- elf banking Clear Tab made its debut for Coca-Col- a Co. , which also is test Nordic Mist, a clear, marketing sweet drink. Now there is the coming of a clear beer. Miller Brewing Co. , the nation's No. 2 brewer, is test marketing Miller Clear, a clear, g beer. Coors Beer this month introduced Zima, a clear, alcoholic malt beverage. All ready there are the sparkling waters of New York Seltzer which are clear of beverages. There are the Clearly Canadian and Crystal Geyser Mountain Spring Sparklers which are clear. Remember that the whole sparkling waters image was changed when Perrier became the "baby boomers" beverage. After considering all the clears, it cause a reflection on the situation. Will there ever be a clear Near Beer, or possible a Near clear Beer. And what about the mug of clear. Will it become known as the mug of water with a head on it. If a person walks into ' 'Cheers , ' ' would it be possible to have a clear beer. So, does this new clear image seem to far fetched? The industry officials are putting a lot of money into its testing, since the growth drinks has rate for outpaced traditional drinks. dential information about their codes, and used it to steal even more of their money. These are some recent examples cases that of headline-grabbin- g have focused attention on the safe0 ty and security of the nation's the most of one ATMs, popular ways to get cash. ATMs have been an attractive target for robbers ever since they were introduced two decades ago. But the threat of physical assault on users has been overshadowed by nonviolent, more sophisticated thievery, hatched in some extremely clever criminal brains. "Bankers are naturally concerned," said Boris F. Melnikoff, an Atlanta bank executive who advises the American Bankers Association on security issues. "It's been an eye opener to the industry, tech niques. There are two main ways to launder money, be it profits from illegal narcotics sales or money concealed from the IRS. Money has to be physically carried out, or it is sent through banks or other financial services companies. When the federal government last year did a study of 27 major cases, it found that "the basic techniques are the same as they have always been," said Robert Koppe, an official with the Financial Crimes Enforcement Network, a part of the Treasury Department. "But the schemes have become more complex, and money-launderi- there has been a shift in the mechanisms that are used. The variety of schemes is limited only by the imagination of the violator. Take smuggling, a crime as old as commerce. "In the old days, you'd find,, cash stored in a cardboard box on a cargo ship," Koppe said. "Now, it's concealed behind a fake wall or concealed in some kind of contain- er." Private planes are still a popular mode, officials say. "And I have yet to see anyone search a passenger's suitcase on a cruise ship," McDonald said. McDonald contends that "the most prevalent tactic right now is smuggling money out of the country. But it's not something you or I could do. You have to have the (See SCAM, Page C2) Dow inches up, but most finish lower, tracking bonds By PATRICIA LAMIELL AP Business Writer - NEW YORK Stocks finished mostly lower on Friday, but the Dow Jones industrials ended just barely in the plus column after languishing for most of the session. The Dow average rose 0.27 to 3,545.14, adding 17.71 for the week. Declining issues outnumbered advancers by about 8 to 5 on the New York Stock Exchange. Big Board volume totaled 224.24 million shares as of 4 p.m., down from 279.89 million on Thursday. Broad-markindexes were et 440.95. The NYSE's composite index fell 1 .37 to 248.22. The Nasdaq composite lost 4.21 to 702.01. The Dow average traded narrowly at slightly depressed levels for most of the session, but a burst of buying at the end of the day pushed the index into positive terMuch of the stock market's behavior was influenced by bonds, which fell sharply in reaction to a Labor Department report that payrolls rose by 209,000 in non-far- - 4 1 irt son. "I'll have a bigger garden out I'll buy cheaper stuff in the grocery store, take fewer trips," said another miner, Garthis year. land Adkins. Families in Appalachian coal country are tightening their belts, businesses are cutting employees' hours as sales drop off, and entire communities are feeling the slowdown caused by the walkout by 9,200 members of the United Mine m m all-ti- May. 'I love Workers union in Illinois, Indiana, Ohio, Pennsylvania and West Vir- Coal miner JULIAN, W.Va. Jack Nichols and his family are settling in for a long summer, learning to do without. 'You cut out the money you spend going to town, going out to eat, letting the kids run around," said Nichols, who has been on strike for three weeks with 235 coworkers at Hobet Mining's No. 2 mine in southern West Virginia. a burly, bearded Nichols dressed in camouflage and pants and a union baseball normally makes $700 a cap week. He is getting only $150 a week in strike benefits to support a daughter and 30-ye- ar ritory. Striking coal miners: By JOHN CURRAN . Associated Press Writer Analysts had predicted that jobs would grow at a much slower pace of 155,000. The unemployment rate edged lower to 6.9 percent, while analysts had expected it to remain at 7 percent. Late in the session, the bond was off $6.36 per $1,000 valuation, pushing its yield up to 6.91 percent from Thursday's 6.86 percent. Treasury traders bid bonds lower out of fear that the robust jobs data would prompt the Federal Reserve to raise short-terinterest rates. Low interest rates have helped drive stock valuations to highs, Wien said. Rates have been mixed. The American Stock Exchange market value index inched up 0.04 to another record high of ginia. The strike against some of the nation's biggest coal companies began May 10 and has been expanded in steps. The UMW is negotiating a new contract covering 60,000 miners in Appalachia and the Midwest. The union accuses the coal companies of violating the contract by formn subsidiaries. The ing companies deny any breach and say they need such subsidiaries to n compete with foreign and non-unio- non-unio- suppliers. Despite the hardships, Nichols and other miners said they are proud to be part of the strike. "I love it out here," Ed Miller said. 'I hate to be out of work, but we've got to do something." At Local 2286's roadside picket miners site, 15 camouflage-cla- d the time horseshoes, pass throwing cooking on grills, playing rummy at a picnic table and offering their theories about why the strike started and when it will end. American flags fly from a plywood picket shack, signs proclaim "Solidarity" and miners wear hats that say "God, Guns and 4 it low because the economy has been sluggish, and that has made for some poor earnings performances. proval Thursday for a dockside sino in Mississippi. Economically sensitive stocks rose amid hopes for a rising econoto my. Caterpillar rose General Motors rose Vi to 41'2, to 41 . and Goodyear added 39 V2 . The company joined forces with Inc. to establish a cable-induststan- 74; Allstate led the on the NYSE and fell to 285a. The issue, which was priced as an initial public offering at $27 per share late Wednesday, gained 23a in Thursday trading. most-activ- es Bally Manufacturing rose Vb to HVi. The company received ap Time Warner gained 1 ca- Vi to ry dard. TCI's "A" stock was up at 23sa on the Nasdaq. Synoptics was off Vi at 106 in trading. Salomon Brothers downgraded the stock, questioning the company's ability to continue exceeding analysts' earnings expectations. Discovery Zone surged Wi to 35 Vi after pricing an initial public offering at 22. 1 2 Vi er out here' Guts Built the UMWA." Inside a nearby guard shack, Danny Easter watches for trouble. "Took over from night shift," reads a 7 a.m. entry in a log book. "Cloudy and cool. Traffic slow. Plant is still loading RR cars. Mine not working. Pickets still out .V'V . it v' V" ' v Vv 1 - front." Three miners leaped up from their card game when a reporter drove past the picket shack Thursday. "Hey, where you think you're going?" one 'said, charging toward the vehicle. Ssw 1 1 JflCll lii.Va.i ",';i v " Lit 1 A-- ' TflVh-rtv-- , Every couple of minutes, a passing motorist on U.S. 119 blares his car horn and give a thumbs-up- . The miners wave back from their shack. "We hardly every have to bring anything. Women bring us baked goods, the bar down the road, brings us Cokes," John Spinks said. j ; ! t i " , J TV-,- well-stock- Miner Jim Parsons said the strike comes down to how long utilities" coal stockpiles can last. "Until they get them down," he said, "we'll sit in these dumb guard shacks saving them thousands, millions of dollars." .' ' 1 i - i AP Photo UMW member Garland Adkins stands at his shack near Lory, W. Va. |
