Show 4f The Salt Lake Tribune Sunday December 13 1987 Ijisider Trading Monitor Executives Snapped Up Stock After Crash to Lift Investor Confidence By Bob Gabele FCI InvestNet By now most of us know that insider buying after the crash was at record levels A lot of them bought tl)e values that suddenly were staring them in the face A lot of them however bought to instill confidence in the prospects for their individual companies’ futures 'These token purchases are commonplace throughout our data base George Steinbrenner for instance most likely didn’t have to mortgage his house to pick up the 15 000 shares of American Shipbuilding he bought at the end of October for $58800 Now that a lot of this token buying seems over we are beginning to focus on the November period (the filing deadline for the month is Dec 10) to see whether the buying trend persists So far it looks intact The numbers aren’t complete yet but it s beginif" ning to look as there continues to be one of the healthiest msider buying fevers we’ve ever seen going on Keep tuned in w e 11 keep you on top of it One interesting buy m late October for Honappears to be an about-fac- e olulu-based investor Harry Weinberg He’d been selling Alexander & Baldwin all summer long in the $50s sale m early OctoHis 40000-sharber for $58 88 each seemed to venfy that he was continuing on his profit-takin- g e path He veered off course however when the pnce tumbled to the $33 range At the lower prices Weinberg turned into a buyer snatching up 51 000 shares for $33 63 each and bringing his holdings up to 3 440 906 shares which now trade at $34 Telecommunications Inc bought a bundle of CVN Companies before the crash but didn t stop there It Highest Money Market Yields MHCTHeifT mu- itlghest yields reported by (ederoity xisuied bonks arid Ihnfts as o( Dec 9 based on stated rates ond irfelhod ol compounding tor lowest minimum deposit available figures m parentheses oie average oanual effective yields ottered by 100 large bonks and thrifts n the top 10 markets Individual yields for 2 5-- ond CDs ore averoge annuol interest eomed over entire We of account not armuafeftec-liv- e " yield which only would show interest eomed the first year MMOA Annual Ittecttv yield (Natl Avg S A4) 9 00 Deposit National Bank filton NH 8 32 University Bank Newton MA 8 30 Heme National Bank Milford MA 7 76 Coastal Banc Savings Houston 7 75 Champion Savings Houston 6 Month CD Annualized nek) (Natl Avg 7 Annualized yields oie for 12 months ond oie based upon rate m effect at time account is opened 8 67 Security Savings ft Loon Scottsdale AZ 8 62 Stpckton Savings Dallas B59 Peoples SAL llano IX 8 56 Alamo Svgs of Texas San Antonio IX fifSI 20) Meedian Savings Aitmgton IX 1'Vear Annual ttfectrve field (Natl Avg 7 Bayuiew federal Savings Corpus Chnsti TX Sunbelt Savings Dallas Stbckton Savings Dallas Pftoples Sftl Uano IX Meridian Savings Arlington 8 51 53)9 04 We Compound fields lor Period 10 Highest Seven-Da- y Ended Dec 8 1987 Money Funds Average 6 24 720 Memo lynch Govt 2 Prime Value U S Gov I Fund k 709 Government-Onl1 3 4 5 704 Vanguard M M R Fedeiol Kemper Govt Money Morkel The Galaxy Funds Govt Fund S Govt Oblig Fund k 6 HighMark 7 8 Cash Equivalent Gov I Only Government Investors Trust 9 Sears US Gov't MM 10 U 703 699 690 689 682 679 T 6 79 Fund Manner Government General Purpose Money Funds Average 6 64 760 753 749 737 t Alger Money Market Portfolio k 2 Lexington Money Market 3 M M Vanguatd 4 M M d F Pnme R k 5 Kemper Money Market 6 Pnme Value Cosh Investment Fund 7 7 TX ol the CD The total inter- est earned on the account is divided by Ihe number of years of the CD and the result is the average ahnual yield (t percentage terms Average Annual field (Natl Avg 146) Sunbelt Savings Dallas 997 990 Baltimore Fed Financial SAL Baltimore MD IX 987 Charter SftL Corpus Chnsti TX 78 9 Milam SAL Cameron Bn 978 Segum Savings Seguin TX Meat Average Annual field (Natl Avg 10 05) Dean WitterSears liq Asset Evergreen M M Trust k 9 Active Assets Money Trust 10 Bayshore Cash Reserve k Tax Frae Money Funds Average 4 61 26 1184 1159 1159 1159 12 Fdi Western Bank Tustm CA Lpuiel Fed 5vgs Bank Laurel MD Beniamin Franklin Savings Houston Second Nat Fed Svgs Bonk Salisbury MD Sunbelt Savings Dallas 1100000 CDs Yield lenonth North America SAL Santa Ana CA Fwt City Savings living TX fits! Svgs ol East Texas Houston 800 800 800 Stockton Savings Dallas First City Savings living TX Commodore livings Dallas 887 885 Commodore Savings Dallas Peoples SAL llano IX American Diversified Svgs Costa Mesa 950 938 925 8 CA 75 1 Colonial 2 Strong 3 Vanguard CA M M e MM M M 7 F Port Kempei M M F M 5 Van Kompen Memtt 4 F 6 Vanguard Mum BondM M 501 501 Master Short Term 7 UST 8 Carnegie Tax Free Income 500 499 497 Trust Exempt M M F Cash Fund Inc 9 USAA Tax 10 DBl T F 25 569 532 512 505 504 k T k F 35 730 728 728 727 8 The Average annuol yields below show the overage rum pet year over the YKIDS" MONEY FUND field column represents compounded effective rale ot return to shareholders for past seven days Past returns ore not necessarily indicative of future yields Investment quality and maturity may vary among funds k - manager absorbing a portion ol lund expenses Reprinted in condensed form with permission from ol Hollislon Mass 01746 Donoghue s MONEYLETTER 800 343 5413 'Source 100 HIGHEST YIELDS North Palm Beach Fla 33408 800 327 7717 DONOGHUE S MONEYLETTER Source Hollislon Mass 01746 800 343 5413 (C) CONSUMER moved again in late October picking up 150 000 shares for $8 63 each and bringing its holdings up to 2140020 CVN director John Malone bought also He picked up 40000 for $8 72 each during the period Two directors at Michigan National Corp added significantly to their holdings m late October Edgar D Prince bought 23 000 for $36 38 each on Oct 23 and is now holding 27173 Robert Vlasic bought 5000 for $36 19 each on Oct 19 and is now holding 6000 On Oct 21 the com- pany announced a good looking third quarter at $1 30 vs $ 92 the prior year The next day it announced million share all program buy-bac- k Firstier Financial shares were never hit too hard in the crash Falling Study Shows Rise In Turnover for Board Members NEW YORK (UP1) — The number of publicly held companies experiencing turnover of board members rose by 77 percent in 1987 a study of 1924 U S companies said Of the companies studied 1192 lost at least one board member during 1987 compared with only 673 m 1986 In addition only 38 of the companies experienced board turnover of 40 percent or more in 1986 This figure tripled m 1987 the study conducted by Strategic Personnel Services Inc of Georgetown Conn said To conduct the study the firm used the 1986 annual reports and 1987 proxy statements of publicly owned companies with 1986 revenues in excess of $100 million Geoffrey A Wiegman the firm s managing director said there appeared to be a delayed reaction by board members to last year s concerns over legal liability on the board level However he also said it was possible that those who showed these concerns simply elected to wait until their terms expired to step down The increase m board turnover occurred despite a 19 percent increase m board compensation levels and the introduction of indemnification clauses Adopted by 55 percent of the companies studied these clauses were created to allay board members’ fears about liability insurance and lawsuits Ironically there was no difference m the rate of board turnover from $35 to $28 25 they quickly rebounded to the $30 range Two insiders bought during the crash picking up 3 000 shares in the $31 range Director Walter Scott Jr did better by waiting He bought 5 OOO on Nov 6 for $29 75 each and is now up to 414 312 shares Air Wis Services insiders seized some kind of opportunity m the crash Eight bought 30000 shares between them from Oct 21 to the end of the month paying between $6 88 and $9 25 in the process On Oct 25 the company announced a solid third quarter at $ 25 vs $ 11 the prior year On Nov 13 the company received a buyout bid from Cfor iticorp Venture Capital Ltd $11 50 which was rejected on Dec 2 On Dec 8 a management group proposed an alternate buyout bid but did not disclose terms Analysts have been questioning whether Wal-Macan maintain its growth rates Insiders may be saying "yes ” Five of them have bought 94794 shares since Oet 1 mostly after the crash It's been a rough market lately Just ask any of the buyers of International Technology's 3 5 million share underwriting of Sept 29 They’ve seen their $13 50 shares shrink to $8 25 before they even 'received their certificates Former executive vice president Paul Kaufmann evi stable JohnG $male chairman exercised an option lor 12000 shores between $3931 ond $41 53 per share on Nov 11 and now indirectly ond direcity holds ‘ 43 695 shares Santa Fa Southern Poe the Corp Henley Group beneficiol owner ndrrectly pur chased 3 060 700 shares between $52 20 ond $49 90 per shore from Oct 23!oOct 29 ond now ndrrectly t holds 19 876 300 shores Texaco Inc Robert V Roosa director purchased 700 shares t between $31 25 ond $28 00 per share from Oct 27lo Nov 4 and now holds directly 4 000 shares ' shares ‘ Union Carbide Corp Cornelius Smith vice president sold 2280 shares between $21 13 and $20 75 pet shore on Oct 30 end no longer owns Direct shores in Ihe company United Telecommunications Inc Abbott laboratories David A Jones director purchased 200 shares at $49 13 per share on Nov 5 and now ndireetty and directly holds 3 185 shores American Express Co Robert V Roosa director purchased 700 shares between $25 50 and $23 75 per share from Oct 27 to Nov 3 and now holds directly 12800 shores Equity OB Co Fred H Evans president purchased 1 000 shares at $4 13 per share on Nov 4 and now ndn ectty and directly holds 23 797 shares Iomega Corp John S Dulaney director sold 2 000 shares at $1 69 pet share on Nov 13 Dulaney ndireetty sold 6000 shares at $1 69 per shore that same day and now ndxectty ond directly holds 71 000 shares Merck 6 Co William T Esrey president Indirectly purchased 1000 shares at $24 13 per share on Nov 10 and now ndtreerty and directly holds 5 653 shores Weshoghouse Electric Corp William A Coates vice president exercised an option lo' 2 000 shores at $11 50 pet share on Nov 12 ond now holds directly 2 000 shares Insider Trading Al Summary Activity Adolph G Rosengarten shareholder sold ond disposed ot by gift 1 500 shares between $208 50 and an unreported pnce per share from Oct 1 to Oct 7 ond now ndrrectly ond directly holds 250 280 shares Inca Ltd Ian G Austin officer purchased 401 shares at $16 75 per share on Nov 2 and now holds directly THE STOCK MARKET Frantic Trading — Falling Sharply — Wild Swing — Stunning Decline — Stock Volatility CB & C Mortgage Lenders an investment banking firm: Solid 1988 shores Proctor A Gambia Co Berkshire Hathaway The stock trades in the $3000 range per share We noticed that Buffett sold 25 shares on Nov 11 for $3150 each leaving him holding a “mere” 41462 rt BUY THE MINOLTA EP 50 PERSONAL COPIER AND THE MINOLTA EW 201 ELECTRONIC TYPEWRITER: BOTH FOR ONLY GUARANTEED 21 annual rate collateralized corporate notes Interest paid monthly 363-084- 5 SM Start your business off on the right foot with a Minolta EP 50 Personal Copier and a Minolta EW 201 Electronic Typewriter A complete office system for only $990! THE MINOLTA EW 201 TYPEWRITER EP 50 COPIER e Change only the low cost toner sleeve instead of the entire save on every copy cartndge-yo- u THE MINOLTA Liquid Crystal Display lets you preview work and catch errors befora printing e deletes up to 255 characters with a single command a Special Features-automati- c centering underlining boldface type and many e up to $ 12 copies from originals x14 e Copies in colors others MARATHON BUSINESS PRODUCTS between companies that had adopted the clauses and those that had not the study said FINANCIAL NEWS SERVICE INC dently didn't feel like hanging on to his shares after leavmg the company He sold 95776 for $7 88 each on Nov 16 and is out of stock Not many of us can afford too many shares of Warran Buffetts “SS 2005 SO 300 MINOLTA Wli“EAMND r SALT LAKE CITY W OGDEN: PROVO: 484-647- 6 375-651- 8 Si Utah's Lowest Prices are at Utah's Largest Apple Dealer OOO 3 We've always been known for our service and but maybe we don't brag enough about our prices At Alpine Computing we're offering the lowest prices ever for Christmas And if you see an ad with a price rr that seems low see us first know-ho- w We guarantee to beat Add More Save More Before Dec 31st you can get our deluxe NEC car phone for your sleigh for a little over $1 a day plus air time And well give you an NEC VCR for only $49 An NEC VCR In the twinkling of an eye you can turn office on an into sleigh c your petrol powered abMMDuaaiiMHWi rTr for a VIP on wheels with a mobile phone from Cellular the one you see here with 99 your list — One-lik- e number memory hands tree speaker and lighted display If s the best way we know of for steenng clear of telephone tag and bypassing pay phones if you're late for a meeting You can get there while you re still on the way turning drive time into productive time What's more we have other packages that could turn even Scrooge into a merry ol' soul No extra installation charge Santa's Little Elves will install your new Cellular Car Phone at no extra charge Have we got a stocking-buffe- Get 350-910- Trip to Disneyland And Win- - eha Macintosh Kcoi month unvto Tmo O Her Cellular for only $49 w Tt SATISFACTION Upturn Umipuin Salt Lake City 350-910- 0 Ogden Provo 544-337- 7 373-855- 5 Hi® Apple IIGS And Win- - Plus nowblrd Snowbird Day Passes No Authorized Dealer One 7w Mobile And Win- - (3 MPINE mtttPUTIMG or© o Tin L'U Mmxo Purchase Necessary Som© aocfld car r©oued and om© v©ruct©9 tuuv revcXx ot ©ng ol t©rm $199 00 wn payment and Th©r© may D© on resnehons may ape charge tar msaation NEC phono pctuFOd e $32 95 reoumg for you! r And Win- - 0 Soon the holidays will be gone and so will this offer— Dec 31 to be precise Quantities are limited So let s talk about this Holiday Package today Miracles still happen whatever street you re on o with a $150 $19 & 32 96monm TM CMar One Hottdoy Bocfcoge so 48 month With our NEC Cellular Phone Holiday VCR Package you can get a NEC s N906U Video Cassette Recorder for a gift for someone special (Retail Price yourself or as $349) Call that price But remember too our service after the sale is simply unbeatable! Our best selling family computer system the new Apple IIGS now offers up to $150 cash back on selected add-on- s Great graphics and sensational sound For work or home We're Utah's largest Apple® dealer making Utah’s best deals! G v SERVICE MURRAY: S State i 268-887- 7 CUm iKJicton kppN Compm wh Inc Apps LOGAN: N Mam Sm ut lo delils l Xppl Your Apple Computer Specialists TRAINING logo ON sihtct and knagsWin 752-643- lo avultbrlty art E 2 ot product ityuati EASY FINANCING OREM: 3776 Wall Ave S State 226 - 1510 Acvlo tadunarks siprMy rotftvM fit right ot Appl Com pul He NfM lo IIGS 4 LOCATIONS OGDEN: lubitbl it 1 ind iadsmlt tdd on product Inc Apps Compul dolMo ol 392-035- 3 |