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Show yyyy f jrymp y" y p f1 "yy "f1 f y yrypi'y f P"f y "'t t w y v w nw iv nrwTT y jji f ' "T Business f 111 Thursdav Morning Vction -J- inuij hnuarv ny T. ( iiyipyii"yi iwy" yp 'A ASHIM 7 ( )N A Pt'idur I f(n .fin y wet, fi,( '.ion produi " goon, jriij 'nt' di ir, dropped Tit he Id-- t annual rdte quarter sharpest (let line government xdid Kxi luding l drop 'Adi 18 peri t nl Idld in of r( t ti-- fit i,,,-v- serving of 1 3 per1983 the four vedr 3 9 ri ,im' Cl 'hr perfect a number of hour, worked p, u I 2 7 percent Higher output ,n go. id , xerviiex I'roductiv it) m the u.ird quarter had risen at d It pen i r, t in nuai rate h or me vear ax a Abole produi r. t it v greA a negligible 0 3 ompared a dti a 2 pen enl ,i. t e.i in It84 the bureau said f'er unit labor texts bout 73 pen enl of thi ( ost of goods dt.d m r v ii es in reused 7 3 pen t r,t ttu is tr.ree months of 1983 Me largest ad same sinie the fall of 'if, 2 ;r g.v. i rnrnenl said Alan Sinai thief tron.,,, t for Shearson f.ehnian Bro- - m New Yore bel ted a i rid 'tie 'Aedrit-sda- farming the produc even greater rate the Labor Department v t di dii The down1 urn tv. df.dl;. , xet-di d reflet lion of the .slowdown r. i onorniigrowth last year and ax d possible forewarning of d long return to fuglier mfldtiori rd'ex The Idst time there Adi d sharper quarterly drop wax the fourth quarter of 1981 Ahen productivity fell dt a .73 percent annual pat e The fiureau of Labor stdtistu , said the sharp decline in productivity re ii i 'rm ja-r- City (ailed i the f.gure- - pomting qu te dl'dle a itti regard to the it.fi i tion outlook Sinai said his firm stii! prod. its h!. j r. : j ' n ,, rr.easnted oh'un er 1'r a e Index a r en.a.t, c; 'tie 3 8 pen enl to 4 pen enl range of tie pas' tool W ITS ( toefl', tiei aun of dei lines in o.I pro es Hut t.e Said 'in- tejairt V.idnesda. a Caution flag on t!dt Ta es If Afr see another report or tAo x tt. these k.nds of resul's the ouf iok for .r.fla'ion aiII not be so sat. r, - . ( opti-.ij.'i- I guine M( hae! Kcan president ot ins Kv oriotmc s Ine a Washington-baseei otionoc i onsuitir.g firm said rei ent sharp drops in oil prices have post pone J the iriflationarv effei ts of di ( lir.ir.g produt tie ity If d nadn t been for this recent plunge in oil prices ao might have already fell an inflation impai t h alls said ' Blit you Can t keep pulling rabbits out ol the hat like that Earlier this Acek the government iris K( a 3 8 percent increase in tr.e he most Atdely adopted mi a sun- of .nflation. for 1983 That ( otn pared Aith a 4 farcent rate of infia repor'ed ( fI '.on Rage fu i k D".-;Tribune fit ul Kit, itc : 'he Reagan administration As a further indication of the How cr groAth the Bureau of Labor m.i tistas said Wednesday that the 2 It pettent increase in employment in U'Bj a as a good deal smaller than IN- 5 pe'cent increase the previous year It also said that the number of av crage I lurs Ao'ked weekly dropped for the fu ,t time since the end of m I&8I-8recession A W r.t-- I employees honored the company s retiring chairman Lawrence H Lee at the Salt Lake City International Airport. the airline reported the highest annual profit in its history Mr Lee. honored by about 350 employees Wednesday in a special ceremony marking his years of service to the airline, is credited with having been one of those instrumental in bringing the company back from the brink of financial disaster in 198.3 by inaugurating a competitive action' or recovery plan The program included adoption of a partnership program giving employees a position in the company and setting up a program in return for pay reductions stock-ownershi- p profit-sharin- Mr Lee. who began his career w ith Western n unc s as a ,agfaJdt' in Salt Lake City in 194.3, retires But he a ill continue to serve on Westerns board of directors an. a.s chairman of the boards executive committee He also a ill serve as chairman ot the the airline s Help Utah Businesses or HUB Council, a community organization that decides who will be the recipients of free Western Airline passes Kri-da- -- dwt r iy ary ,.!r i.t f eluded prcsi.itaion-- , of plagues and mementos to him from Airport Man-ag- i . Loi: M... r or half of h..r, and t..e Salt Lake City Airport Authority. I. 0;.t u"i nddnts pilots and two other Western employees. Donna Frazier and Al Katsilas. Employees also signed a larger banner, which read "Larry Lee, We 1 Love You. 1943-198- " 6 Later Wednesday. Western Airlines reported unaudited 1985 record net earnings of $67 million The results for the company's 1985 fiscal year marked a $96 million turnaround from the $29 2 million loss suffered by the airline in 1984 The companys net earnings per share, primary, were $1.76 for the year. Western reported a loss of $1.37 per share in 1984. The 1985 figures are preliminary and unaudited. Operating income, revenues and passenger yield for 1985 also were the highest in the company's history The airline's operating income was $76 5 million, up from $11.4 million in 1984. Revenues for 1985 totaled $1.31 billion, an 11 percent increase from the $1 18 billion reported in 1984. Passenger yield, or average revenue per passenger mile, was 1121 cents, up from the 11 08 cents posted in 1984 1 Operating expenses in 1985 increased 5 percent from 1984's level, the company reported. Those expenses totaled $1.23 billion, up from billion in 1984. The 1985 operat- $1 17 TnDune Start Photo Dv P'Ck Lawrence H. Lee, retiring board chairman of Western Airlines, pauses from greeting Busiest Trading Day in Cher tt tgao crowd at party in his honor as employees career. sign banner marking his 43-ye- ar Year Stocks Toy With New Highs, Then Retreat - NEW YORK (AP) The stock market finished mixed Wednesday-afteflirting with new highs early in a turbulent session. The Market In Brief New York Stock Exchange Jan. 29, 1986 UP The New York Stock Exchange had its busiest day in nearly 18 months, and its third most active ever, as traders sought to assess the outlook for interest rates. VOLUME 798 00 0 DOWN 193,800,000 SHARES 361 The Dow Jones average of 30 industrials rose 2.52 to 1.558 94. recording its fifth straight gain. But some other, broader market measures tilted slightly to the minus side. ISSUES TRADED 2,046 887 Given the large flows of money across international borders. Wall Streeters said, declining rates in one major industrialized country can exert a downward influence on rates in the others At midsession, the Dow Jones industrial average was up more than 10 e closing points and above the high of 1.565 71 it reached on Jan 7. all-tim- Computer failure followed by an in a backup system resulted in a rerun of Monday's closing New York lists in and American The Sail Luka Tribune on Wednes- error Analysts said hopes for further declines in interest rates worldwide prompted some early buying J R Jennings, manager of data processing for the Newspaper Agency Corp which handles the tabular stock-exchang- e day. , profit-sharin- The company's 10 $ 1,095 1BM-XT- 00 A l' I"S i Restaurant with Lounge a - Oil Well Royalties 1, ( umption of the existing mortgage, new conventional to nam ing or cash Mr Eagar. whose firm specializes in the luxury and executive class home market said the larger home market is improving "There are some attractive buys out there, he noted because some of those larger homes have been on the market for one or two years A company study during the past two years shows those large homes were on the market for an average of 11U months, while the average for all residential homes was less than three months He noted the luxury home market is still soft, except in Salt Lake City, which has a limited number and helps them hold their price He said the average listing fur a -- luxury home last year was an average sell ing price average of $362. Odd an $406.UU0. but had percent drop S3. 25 Million Acquisition Zions Agrees to Buy Mesa Bank In Its 2nd Interstate Purchase Zions Utah Bancorporation. a Salt comLake pany with $3 billion in assets, announced it has reached agreement with majority shareholders of the $30 d City-base- bank-holdin- Mesa million-asse- t g of Mesa. Bank Ariz., to acquire all outstanding shares of stock on or about Oct 1 Purchase is subject to regulatory-approva- l and the execution of a definitive contract. Terms of the preliminary agreement indicate a price of $5.25 million. Zions Utah Chairman Roy W. Simmons said. "We are extremely excited about our future in Arizona and particularly, in the East Valley area of Maricopa County which is served by Mesa Bank. time. Zions acquired the $221 million asset Nevada State Bank of Las Vegas. which operates seven branches in Clark County, in late 1985 The purchases are under state reri procily laws enacted recently by Utah and surrounding states Zions currently is operating a loan production office in Phoenix Zions operates 63 banking branches in Utah through its subsidiary Zions First National Bank. The company also is engaged in consumer finance in 27 offices tn Utah. Colorado. Idaho and Oregon It conducts a wide range of leasing mortgage and other financial services in the West Last week, it acquired the Salt Lake Pioneer State bank, a $9 5 million institution at 311 S State, after it was closed by the Department of Financial Institutions City-base- Mesa has three branches It would be the second interstate acquisition by Zions within a year's d DR-1- 00 10 digit heavy-duired a"d black nbtipi prmier Percentages add os discounts ra''os increase dec 'ease values Subtotal to'at grand tct.h a.cumu'i'ionv Reppat tunrho'i to' addition suh'M .bon f ill der "nal system o a t " ' q tncd i0 6' xitn nil oil or round oh Automatic cin'i'"a inaivor THE i CALCULATING ADVANTAGE ll 1!)lt"! IM 'I si, .;,.in i It . - I'lmi I di-- 'add k - j M a oi iiin a M n I '"i i.il l '.ii- - StisT Ob k n ii i" n YEAR WARRANTY! I A-- - ."i- - loHp Meg. hard Industrial Sites I bi-in- ra'e 2 'I To obtain complete information and detail- - regarding Unimportant sale- - 'J lenng emit act. (General Serv Serv iee Center. Room 4 12. lenrv at ion, M laelv.-on Kedeial Building. Seattle. YA DS174, k lort'olmado telephone 21 hi lli.'.Toti SI Property liilonuat ion ta fixed " e a 'i I'M'' Motel & (native i ' l.p,e on, J 'Hie General Services Administration is offering a number ul commercial properties in Colorado Includes' Commercial OHo Compatible - it i op- OR Our Already Low Rates on Ribbons & Diskettes tjl l.l IY PKODUTssIMT. l!)7a Ill'RLUVNE COMPUTERS INC. 2i it i K, tiiHi s() s.L.C,, I l'H RDAKES ALL TYPEWRITER COMPANY S'A'A For special questions, call Don Miller or Ross iolm. on (2(HD Mon..'i s:n-7r-i- M (Nili4 " V I i, s,it. l $00 StNiih AcOM Ihtovjyrt r ftdAy 9 00 .I d 'o C a Cb'cuIiHomi It). 2 rmk Jumimx .Um) Ifli. for mme In -- f -- study by Eager lu showed above 1300 East to the foothills and from 4oo .South to 3300 Soiah saw the m t activity b ' dies to listings W til an aver ibe re ot C"1 'Hi The con , :mv x lotal sales for residential properties last year was $83 million, an increase of 9 pc ent from the previous year The average Realtor at Eagar sold an average of $1 6 million According to the Realtors. June was the most active month for selling a home in 1985. followed by August. September. October and November The slowest month last year was February, when only 253 homes were reported sold January and May also recorded less than 400 houses sold As mortgage interest rates fall, homes are starting to appreciate in value again, he noted The average price of a home last year was $78 804. an increased of $813 from the 1984 average Mr. Eagar sees homes appreciating more slowly this year The average selling price in homes in Olympus Cove lists for The Tribune, said the backup system still contained the old quotations when the emergency reserve lists were called up Tuesday night and inadvertently processed. He said now dated material will be purged daily from both systems at the market close to prevent a recurrence of the mistake. a 20-Un- r erating revenues totaled $294.3 million. the best for any fourth quarter in the company's history, and up 6 percent from $278 3 million in 1984 "o)H.i-- Modern fourth-quarte- MOVING SALE InvestorsSmall Business GOVERNMENT EINANCTNG on Government LAND and BUILDINGS Throughout Colorado FOR SALE in April g plan. employee For the fourth quarter of 1985. Western reported a net loss of $7.5 million, or 20 cents per share primary. versus a net loss of $5.5 million, or 27 cents per share in 1984. The company posted an operating loss of $10.3 million for the fourth quarter in 1985 compared with an operating income of $6.9 million in 1984. The fourth quarter of 1985 saw extensive industrywide fare discounts, and unprecedented weather problems during the holiday period contributed to the disappointing results. said Gerald Grinstein, Western's chief executive officer. . ! Svstem Glitch Causes Rerun of Stocks List Big Board volume came to 193 80 million shares, up from 146 22 million Tuesday. The total was the largest since a 203 05 million-sharday on Aug 6. 1984 e ing expenses, however, included $10 million reserved for the company's i t t -- n el dhd the I fjvnr 1 On the same day Western Airlines ' fmatn mg is triurt g age- Bid dv interest rah- have t f.n tini.ed to drop creative final,' ing or sales w here tie seller help , brume the buyer is hemming Mr Ei less and lev, impor'ant gar said In l'i82 60 pen ent ot he homes old involved sotne form of (reative fm.im ing while in 1984 they fell to oniv 23 peri ent ol the sales That means that in 73 per ent of t tie sales the seller re teived (ash. cither through an ax I a- an-- H er as interest rates have fallen jrnund luU pen ent in Jaruia-'- ( V the -- fall edg'rg l; expec'x irei home v,ex to eon. b a rieamv' per'eni the w i 11" Western Employees Honor Retiring Chairman e t ext-'ta.v- r $,') t Even th'iugh rnur'g ige u.'i ilex have f t..e t, f t an a h.bh id i pert ent in It e MUii'iier ef 1I(H4 t a("U(id 11 p r t nt b. he i rid id tt e year M" Edgar a.d U e rie , i fiirtu (d f nan' .ng .r ett.ee Was atl fiJUUabie ige w he h ( art n x ah 8 U i" 'J'j periint intt rest rate Huwev . Airline Reports Record Annual Pro! it , r , -- , If JMr,g SI'I'IOO" Vvenue, at $'ei ami ta nt i ' .1 I.a-year j g iml w ar f r 'la loi al real mdlo'rv t."t u gfe.i' one blif u goetl of.i x ,'n jlnio't 7 Due .ul pr op tr'ie-- . old through trie Sal; I ,ue fto.ird of Realtor', Mu.hple Lot ing Serv lie One S.nt I axe Civ a tea realtor I'tst, a,!1 be expel even better Randv Edgar vue of hag.ir a. o agreed UH , Aax a good year for 11 e area although not a- - trong - l'J84 which wax the hext year for the induxtry since 197y Mr Eagdr prediet, 'tux nar will be even better with mtere-- t ' itex facing lightly in the spring 'a sum and xtav ; level ri ,r prc-ide- yiil"wyiFly as Good Year in Area A i.f 1P84 It also reported that economv gtoA'n for the year, as measured tv. the gross national product, fell to 2 3 pen en; doAn from the b 6 peri ent groAtti fate of 1984 and well beloA the a 3 percent groAth predated be yli,"yi" 1').;!, Productivitys Fall Sharpest in 4 Years Realtor Says '85 i ypn 1,'S 4M4' Senll p m a SaUmJriy 0 00 a m to Dictation tqjDmnt M i i 1 4 00 o |
