Show 4444-wA t Fi rl r ! Busmess !jalt gaffe Ztibunt rjje I — and Down the Street Up — a I t t I s - 7L4C'T Customer First Consideration AG Edwards Chief Says in SL 1 c ) ir7 ( I' - - ' f' : -- They got their comeuppances houses that were into junk boT into the 1980s or into tax shelters in the 1970s They forgot the customers says Ben F Edwards HI chairman of AG Edwards & Co nation's eighth largest brokerage r i - I ' '4" 4 ' r i c Ale ‘ - ti - - t -- :4 4 ) - A fdt - s 1 soy t "4:414k 1 A 4! '''''"-41ri- 1 f - ( ' - 1 I A ' ''?- f t 21 tt 4— A Woody r 4v - ' A Robert II - k 1 (- A 1 4e - '4 o Business Editor ':1! i that clean e- "Our skirts aren't 1 - ither" he says But the St Louis-baseEdwards never got into peddling products like some of its competitors he said And it resolutely stayed out of program trading "You can't do program trading and trading for the customers at the same time Our industry should be ashamed of itself" A G Edwards was founded in d 1! ' i Benjamin F Edwards III Chief "Customer's Man" 1887 by retired assistant secretary of the US Treasury Albert Gallatin Edwards and his oldest son Benja Market Bounce Back NEW YORK (AP) — Stock prices posted moderate gains Tuesday as late bargain hunting and computer-prograbuy orders gave some direction to an otherwise lackluster session The Dow Jones average of 30 industrials rose 1138 points to vestors were waiting for indications of where stocks were headed following Monday's 5371- point drop in the Dow "It's been pretty quiet action Basically the market is just buying time" said Jon Groveman an analyst at Ladenburg Thalmann Volume at the New York Stock Exchange totaled 13493 million shares up slightly from 13347 million in the previous session The market fluctuated in a narrow range for much of the day breaking free in the afternoon Many market watchers said in Program trading helped push the market up in the closing hours as arbitragers tried to take advan- tage of differences between futures and the cash value of the stocks that make up the index said Thomas Walsh head of equity trading for Nikko Securities Co International Inc stock-inde- x i At AG Edwards there are three up front for every one in back Edwards who indulges criticism of his industry also directs criticism at others The nation's tax system — particularly after 1986's reform which endconed capital gains tax treatment tinues to encourage consumption over investment he says Thus industrial growth in recent years has been financed by debt rather than by equities — an unwholesome circumstance Loss of capital gains treatment means the government is grabbing a bigger bite of taxes out of inflation gains rather than real gains in values he said A G Edwards now employs more than 7000 Notably it did not jettison employees as some did after the Oct 19 1987 market melt down Last year the company publicly traded since 1971 turned out record earnings NEW YORK (AP) — Progress was in talks between Donald Trump and his bank lenders over restructuring the $3 billion debt load the developer ran up in assembling his real estate empire One source familiar with the talks who asked not to be identified said representatives of the Trump Organization and the banks — Citicorp gued over the contribution each would make and the collateral each would receive Trump has yet to make a roughly $43 million payment due last Friday on junk bonds used to finance the purchase of Trump Castle one of the s developer's three Atlantic City reported Tuesday hotel-casino- Trump who has tried to downplay his problems as they became public in recent weeks continued that campaign Tuesday He put out a state- Manufacturers Hanover Corp Chase Manhattan Corp and Bankers Trust Co — were meeting and had moved closer to an agreement Last week the parties reportedly were close to agreement on a plan under which Trump would receive a $60 million loan that would enable him to keep making debt payments But over this past weekend the deal began falling apart as bankers ar ment announcing the Trump Shuttle air service he bought last year from Eastern Airlines — had made its monthly interest payment on time — the northeastern Investors meanwhile showed some optimism that Trump would be able to iron out his difficulties fP7 t" ( g : 4 3!450 ' gJi ltr:' Wit:4c4! : 'i 501 ''' t'tii: 0Ator'rle ' ' 4' 7:'!::434-1- :' Ah A 7 '4 fy41r5is-n4:4- :'- 41 '' r 44:-N4:- t T i'''2' 'V'S1'" 4 ''' By Steven Oberbeck Tribune Business Writer The owner of Utah's VR Business Brokers franchise has established a regional office of Capital Funding Group Ltd to help provide acquisiand expansion capital for businesses in the Rocky Mountain area William Tabar who brought the business brokerage to Utah in 1981 said that Capital Funding Group whose principal offices are in bank-hel- p Calif is an firm that can locate the proper financing for emerging and mature businesses as well as some new ventures "CFG offers an alternative to con- - Ir' -- 00 '''' Ttt a IA:'i''''' 0 I :' l Ii 1 j LP''''':3'fiit': :TV:''''' 1 l''' oq krill '? - -- " 41 48 1g t b31 l''''' 0 ct: '" - 49 A011 5' ! 10 ebU ij 4- 0 11te il - ‘4 CI rttf44 4i1141 : '''' 0 11"':i''' Ii '‘ IFi -- !14 4- ‘- : 4 s ''': ' Iz -- z: 0 al- Q 1 — 0 r FZ'"i :- 0 zli 12'4Z'f ''''' ':':' '14 n:latankix: ts Ztt It lc Mr Tabar said the Utah regional office is being managed by Beau Backman who claims some 13 years of experience in the investment banking business Mr Backman will work closely to help local businesses present their funding requests to CFG's management Mr Tabar said But he noted that adequate business plans and financial information are essential before funding can proceed ::47:1L7:: —UPIReuter Photo It's Worth Its Weight in Gold workbench at At Casa De Moneda in Mexico City chief engraver displays a Centenario gold bullion coin Containing 12057 troy ounces of pure gold it is bullion coins in the world heaviest of all 450-year-o- d sources capital-raisin- g such as long term institutional lendestment banking and large firms" Mr Tabar said lie said CFG once it has screened a business seeking additional capital and determined it meets funding will help prepare qualifications placement memorandum that are then put in the hands of interested investors "We can provide small companies with access to the public and private capital markets that were formerly unavailable" Mr Tabar said noting that CFG will primarily concentrate on helping businesses secure acquisision capital in the andor $1 million to $25 million range Mr Tabar said that most acquisiof smaller sinesses made for under $1 million are arranged successfully with seller financing But the financing of larger transactions has traditionally been more difficult He said he recognized from his nine years of helping to buy and sell businesses in the Rocky Mountain states that there is a serious lack of capital in what he termed the "dead zone" between $1 million and $25 million "For every owner that is willing to sell a mid-siz- e business there are many more who simply lack financing for expansion of already successful businesses" Mr Tabar said CFG is a company that operates regional offices in San Francisco and Oklahoma Mr Tabar said that the company is made up of investment banking industry veter- 111'4114114 4 - ventional 0 ) 1 C14 ' 4 : et eK 47 tt 0t t : i tr( ttt 2 H i A)1:171-ttsi- 4:t4 P" ::r 1 1 '4 high-circulati- Motorola Wins Stay Will Keep Chip on Market AUSTIN Texas (AP) — Motorola Inc won a temporary stay Tuesday of a federal judge's ruling that would have forced it to pull a popular computer chip from the market The stay was granted by the US Court of Appeals for the Federal Circuit a special appeals court for patents in Washington DC Motorola spokesman Tim Kellogg said It came hours after US District Judge Lucius Bunton banned the production and sale of Motorola's MC68030 microprocessor and Hitachi's microprocessor The ruling came in response to a motion by Hitachi The two companies which were former partners have been embroiled in a longstanding patent in H8-53- 2 fringement battle Analysts said Bunton's order if it stands would hurt Motorola more than Hitachi because the Motorola microprocessor is used more widely The Hitachi chip analysts said has not sold well in this country Jerry Solovy an attorney for Hitachi said the stay was granted temp- abt®S000 3 Office Resources Inc 141i 1111 '' " '- 0 Westar I! ''-- U m 1 7 '4:41 ' Firm Will Aid Businesses With Capital : : - ' '': ' 41'Li '''':'t f'''1Lt:” '1' '' ' -- 0 F (sales) Source Reports Bankers Making Progress Adjusting Trump Debts I overpaid" Edwards he says has stuck to the basics You've got to think back to the old days when they used to call the sales staff "customer's men" he said "They's the way it was The customer came first" Then they started calling them fancier names — eg "account executives registered representatives" The old title was the right one he said It meant service of the customer"Maybe we ought to call them customer's persons" A lot of ladies are in the business now The competitors he said typically have one back office employee (clerical) for every front office person & Co 289356 i 0 N4 - 2F-:- 44' 4 it Bargain Buying Helps 4 min Franklin Edwards Ben F Edwards III was in Salt Lake City to visit local offices He joined the staff for coffee cookies and chatter Then after talking with The Tribune he whisked off in a leased Learjet for the Grand Junction office He says he tries to visit 40 or 50 of the more than 400 Edwards offices each year It was his first official stop in Salt Lake City He visited Salt Lake City 23 years ago on a family vacation But that was two years before the firm acquired the local DempseyTegler Co offices The Salt Lake City offices in the lower level of the American Savings Building is — well how do you say it — rather unpretentious maybe a little bit this side of shabby compared to the more posh and appointed offices of the competition The company is not putting a lot of money into show he said It would rather spend on customer services No seven-digsalaries to top executives either like in other brokerages His own office in St Louis? "Fancy" he says But he adds: "The antiques are all mine I paid for them" His salary? Six digit! "And I am probably ''':'-'' "'': 4 0' I - 15"11g-'- ' ) A —:: - 447r-olcia-zc'-z:- 6 -- - 4 ''' ItA ' 4- ' :it: f 44ZiP ' :'::4 '' i-- "‘S717' t7s 0 4' I 4 14t''t '5 1- i - c' I Wednesday Morning—June 20 1990 Section D Page 5 Invites You To 1711-- rE( Pan d e M()n lUM! Panasonic - - WESTAR Office Resources having an is 12 o3 40 Open House from Thursday (June 21) at noon to Saturday (June 23) at noon - 1r: 8 6 mos Annual Personal Yield -- During this 48 hour Open House WESTAR plans to sell every Panasonic Copier and Panasonic FAX Machine in stock! ' mil 1 j i f- - Choice That's Right! 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