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Show r FTC Gives Final Approval for fljc By Matt Yancey Associated Press Writer WASHINGTON Texaco Inc s $10 1 billion takeover of Getty Oil Co. won final government approval Tuesday but only after it agreed to a temporary, partial reincarnation of controversial oil entitlements that President Reagan abolished in 1981. - jlalt falcr tribune Texaco-Gett- y petition recommended the modifications to a tentative consent agreement approved in February after expressing fears that independent refiners now supplied by Getty might be left without a source of crude. That, in turn, could decrease the independents chances of surviving and give Texaco an opportunity to The Federal Trade Commission, on a vote, gave us final OK to the merger of the nation's third-an- d oil companies after setting up a complicated regulatory scheme to ensure that Texaco will supply crude oil to independent West Coast refineries for five years. The commission's Bureau of Com 1 14th-large- Merger acquire them at distress prices, according to Commissioner Michael Pertschuk, the lone FTC member who voted to challenge the merger in court as being anticompetitive. Contrary to what appears to be prevailing commission policy, Congress did not direct the antitrust agencies to strain the seams of the Business them. Four Firms Enroll Employees Wednesday, 11, 1984 July Section Management Consultant Offers Productivity Courses C Page 1 Dollar Makes Record Advances - NEW YORK (AP) The dollar resumed its advance in a late rally Tuesday, erasing earlier losses. The Canadian dollar fell to record-shatterin- g said traders have become skittish. On Monday, for example, the dollar climbed to e highs against the British pound and French franc and a high against the West German mark before retreating at by day's end in a bout of profit-takin- g traders. On Tuesday, the dollar fell in Japan and Europe, then recovered in the United States. The Federal Reserve Board said its measure of the value of the dollar, weighted on the basis of trade with 10 noncommunist industrial nations, reached a new high of 138.92 late Tuesday, up from 138.17 on Monday and the previous peak of 138.75 Friall-tim- day. By that measure, the dollar has climbed 10.1 percent since March 6, when the central banks index dipped to 126.18, its low of the year. The index stood at 100 in the base period of March 1973. A combination of high interest rates and moderation in inflation in the United States has kept returns aton in- dollar-denominat- vestments, keeping the dollar in NORTH SALT LAKE FOR LEASE 80,000 SO. FEET 30' CEILINGS FREE STANDING. By Joe Rolando Tribune Staff Writer The complacency of the United States clearly emerges when Marian Steeples explains how the country lost the upper hand in quality control and productivity to Japan. I think we thought we had such good quality and were so known for it that we just became used to thinking about Japan as just producing little plastic toys, noted d the Salt Lake management consultant. But all that changed because, in part, Japan is an island nation and heavily populated. And they need to produce to survive. Ms. Steeples, who gained much of her insight earning a doctorate degree in quality and productivity, put that knowledge to work to help correct the problem by assembling 15 courses themed Quality Engineering Technology. Bob Launsby of Sperry, Salt City-base- a new low. Gold also reversed course, with bullion bid at $343 a troy ounce as of 4 p.m. EDT at Republic National Bank, down $4.50 from the late bid Monday. The dollar has been on an erratic course in recent sessions, and dealers tractive Lake City, worked with Ms. Steeples to prepare the courses. She explained, Basically, both of us had the same idea and we happened to meet and talk about it." They are teaching the courses at Utah Technical College at Taylorsville. Courses First Year Although this is the first year the courses have been offered, they have already gained the support of four major area businesses, which have been enrolling some of their employees in them, said Ms. Steeples. The firms are Sperry, Becton Dickinson Automated Immuno-chemistr- y Systems, a products manufaNatter firm; cturing Manufacturing, a supplier to IBM; Inc. and Ms. Steeples said support of firms of such high caliber indicates there is an awareness that the countrys competitive position has changed in the last 15 hospital-pharaceutic- Productivity Improvement Programs, aimed to showed students the various programs a firm can use to improve their productivity. The programs include statistical process control, quality circles, quality of work life programs and employee participation programs, such as the Scanlon Plan. al Marian Steeples Helps Develop Courses years for the worse and basically we need to change the way we do business. The course Ms. Steeples taught spring quarter, entitled The students major project was to develop their own quality improvement program for their company, said Ms. Steeples. They then presented that to the group, and we videotaped them. Presentation Skills Ms. Steeples said the videotaping allowed the students to see how supervisors perceive their presentations. She added, "Presentation skills are often extremely important in the corporate setting to convince management of the importance of the undertaking." Ms. Steeples said among the See Page Quality C-- Column 1 Continental Tentatively Settles Shareholders Suit - CHICAGO (AP) Continental Illinois Corp. has tentatively settled a shareholders lawsuit charging that it failed to disclose its financial difficulties before the 1982 failure of the Penn Square Bank, a spokesman said Tuesday. Continental agreed to pay $11.5 n million in present value of bonds to shareholders who bought Continental Illinois stock between Sept. 1, 1981, and July 5, 1982, said Roger Barrett, an attorney with Mayer, Brown & Platt, which represented Continental. He said the bonds will be worth substantially more than $11.5 million when mature in 10 to 12 years. zero-coupo- In addition, the shareholders could receive a portion of the settlement or judgment, if one is reached, in a de- rivative suit that charges six former officers and one current bank officer with imprudent banking practices. Under terms of the proposed settlement the corporation will receive the first $23 million; the corporation and the shareholders will share equally the next $27 million; the corporation will receive 70 percent and the shareholders 30 percent of the next $25 million; and of any amount over $75 million, the bank will receive 85 percent and the shareholders 15 percent. U.S. District Judge John F. Grady scheduled a hearing Sept. 6 for final acceptance of the proposed Grady also is considering a proposal to consolidate with the shareholders suit another class action lawsuit filed last month that charges the corporation undtrstated its financial difficulties after the failure of Penn Square in Oklahoma City. That suit was filed on behalf of shareholders who purchased Continental stock between Nov. 15, 1982, and April 17, 1984. The original suit was a combina ORDER DEPT. 0 foaiM-I- CJB4M Annual Percentage Rate of 12.290 Compounded Quarterly for 12 months. $10,000 or more. Effective through July 17, 1984. Everyone should have an QaMEtoQMB i aS pirt&njfo miTTiftk IfTufffjffll A f f a . a- - Texaco Chairman John K. McKinley said Tuesday that his company would sell its interest in Wyco in order to keep the El Dorado refinery and other Getty properties in the Middle West. r Yjl L illllili BRANCH 268-878- 7 364-840- 0 New American Cuisine. Bonneville Mortgage Company announces placement of the following transaction: Prime steaks, mesquite grilled upon request to sumptuous perfection. Buffalo sirloin, fresh seafood, and barbecued $1,700,000 pork. Tlx; true flavor and qiudity of hearty basics captured and enhanced uith fine herbs, savor sauces and imaginative side dishes. All graciously served amid i lx comfortable western elegance llxit is, distinctively Windsong. FIXED RATE TERM LOAN QUALITY INN MOTEL 94 units, located in Price, Utah 0eti 530p.m. till O.JO p.m. Monday through Saturday Reservations recommended. F.C. Stangl Construction Co. DEVELOPER Salt Lake Sheraton Hotel & tTin vers C vf'yay SHERATON HOTELS. INNS RESORTS WORLDWIDE 255 SOUTH WEST TEMPLE, SALT LAKE CITY, UTAH 84101 REAL ESTATE INVESTMENT BANKERS 545 East Broadway Salt Lake City, Utah 84102 Telephone (801) 532-261- In addition to the divestitures already ordered by the FTC, the final consent decree gives Texaco the option of selling its interest in the Wyco Pipeline from Wyoming to Colorado to avoid having to spin off Gettys El Dorado, Kan., refinery as required in the earlier order. ,r OFFICE 5320 South 9th East (Oakwood Plaza) Salt Lake City, Utah Exchange Place) Salt Lake City. Utah against the crude allocation scheme for the West Coast refineries. fsi, Consistently Higher Interest On Deposits MURRAY David Scheffman, the FTC's deputy director of economics, had argued buy a Xerox Memorywriter, youll really fly. 486-443-6 mm mom MAIN OFFICE 359 South Main Street (Corner ol Main & Without those conditions, the commission said, the merger could . . . harm competition by limiting or denying independent refiners access to crude oil and pipeline transportation in California. Now when you DRY ICED CALL OWNER BROKER tion of three filed after the Penn Square Bank collapsed in July 1982. Continentals stock has fallen from about $25 a share to less than $5 a share this year. In another development Tuesday, Continental announced it has agreed in principle to sell its London merchant banking subsidiary to First Interstate Bancorp of Los Angeles, the two banks announced Tuesday. The sale was the second in two days for the ailing Continental, holding company of Continental Illinois National Bank & Trust Co. Terms were not disclosed. Since then. Chevron, formerly Standard Oil Co. of California, has acquired Gulf Corp. for $13.2 billion and No. 2 Mobil Corp. has bought out Superior Oil Co. for $5.7 billion. Texaco already has acquired all of Getty's stock under the FTCs tentative consent order approved earlier. Thursday's final order gives it permission to begin combining the two companies' operations. The tentative agreement last February had required Texaco to continue supplying for five years California crude oil only to independent refineries in the state that had been direct customers of Getty. Under the new order, Texaco also will have to offer crude to Getty customers on the West Coast outside California and to independent refiners who had purchased their crude from Getty indirectly. It also allows the refineries to resell the crude; instead of requiring them to refine it themselves. In addition, Texaco must continue to provide until July 1989 access to Gettys crude oil pipeline in California under the same terms and conditions that Getty offered in 1983. XEROX Church 8t Family Parties Snelgrove SneUecT RAIL, DOCK HIGH 972-250- divesticonsent agreement-partia- l ture process to preserve massive mergers," Pertschuk said. The commission's tentative approval in February of Texaco's acquisition of the primarily family-owne- d Getty Oil Co. in what was then the largest corporate takeover in history set off a wave of oil industry mergers that created a flurry of protests in Congress but no action to stop i or an So call your local Xerox sales office at authorized reseller for more details about our machines and this offer. And watch your office productivity really take-off. OfltT good w ith the purchase o( at least one 630. 635. 637. 630 or 640 Memorywriter, two 610 or 615 Memory rilers or a combination ol a 610 and a 6b Memorywriter. or an 860 Inlormalion Pmcessor. Purchases horn Xerox musl he al the single unit list priee. Memory w riters ean be w nil or w about the ccrlifi-catc- s commumealKins opium. Odors musl Ik signed between July I. N84 and August 31. M84. Tiavel will be mailed w ithin 6 weeks ol machine delivery maximum two ecrhlieales per customer. L A. may be exchanged lor coach tickets to any Eastern Airlines destination in tlx- continental US at any accredited travel agcnl or Lastern Airlines 1 icket oTicv. Certain trawl restrictions apply such as 5 day minimum stays and holiday blackouts. See whii kcal Crux Saks Oboe lor details. Oiler applies to commercial accounts only. Quantity purchases ol Mcnkryw ruers or 860 Inlormalion Processors earn separate but substantial quantity discounts not available with this promotion. XLKUX 4Wk. .nk, 4. AAg ,4, m Get a Xerox Memorywriter by August 31, 1984 and well give coach ticket to anywhere Eastern Airlines flies in you a round-tri- p the continental U.S. A. For free. Its just our way of saying thank you for buying the electronic typewriter that lets your secretary fly through your work faster and easier than ever before. You see, with a Memorywriter, theres no such thing as an error. Because mistakes can be corrected before they ever appear on paper, with just the touch of a button. Memorywriters come with a slew of standard features that automate just about every typing task. Some, for example, store often used phrases and formats so your secretary wont have to keep retyping them. Whats more, every Xerox Memorywriter can be upgraded with additional features and unlimited memory. And if what your office really needs is high volume word processing, you'll want our 860 Information Processor. It can turn out documents, data, even certain computer programs at an incredible speed. It's included in this promotion, too. Both the Xerox Memorywriters and the Xerox 860 Information Processor come with one other thing. Team Xerox a wide array of products, people and services designed to meet your information needs. The 860 Information Processor is either newly manufactured or remanufactured. 9 A wmmm undK'iUcnlifyingnumbciNheittituiv tnnKnwrkM$l XlROXIURPUFfTlON |