| Show Th" Salt Lake Big Wheel SWIATTD PPrig DETROIT — EA)me 17 12 GM With Engineer's Eye Don't Say Bu January is Best Stock Barometer Fine-Tune- s By Frederiek Standish TYE Teitunt BUSINESS Sunday 'January — he gained a Chevrs let in -a car guy- He 3 reputation knew about cars and quality not from the balanee sheet bixt from nnder the bood By the time he W35 named chairman Stempel had served on GM's board a executive vice president for the track and bus and overseas groups He'd also been the 17th president "There was a great deal Of confidence that there was a car man in charge" said Jeff Keefe a professor in Rutgers University in New Brmswirk N J reealling Sternpel's move to ehairman "And workers said) that We are going to turn this thing around and we'r e going to rnake quality IS-8- A months 1 1 ago when he was named chairman of the world's biggest car company Robert Stempel was hailed for his engineering savvy Wall Street analysts and stock- 1 4 1 r'll' ' -- i holders were somewhat relieved by the appointment of the attentive brainy engineer after nine years of GM rule by Roger Smith an ancountant But things have not proneeded well for Stempel ar! since he took over in August 1990 From his first day as GM's head Stempel has been challenged by war rereseonsion and a buying populare cerned about the bad enonnmy that US auto sales this year are down nearly 15 percent Novi Stempel fares his biggest challenge Last month he announced an initiative to shrink the ‘ ( S '77---'- I i I e----- - ' ) '' pod''''''1)—:- - 1 1 j 1 it i 1 v120 I I e 1 I I i ) 1 I I $124 billion company GM will close 21 plant2s tut capital spending by ILl billion and eliminate 74000 jobs by 19'95 It will shuffle its North Ameriean product line consolidate some design operations and try to make its plants more flexible — a top priority for any corporation trying to make th e most money from its goods -He's got the toughest job in all of ChristencicAri" said Mary Ann an analyst who follows auto companies for Fiteh Investors Service Ine "He's the right fellow in the right spot in a tough time Stempel's track record in getting Europe to turn around lends confidence that he can tackle this one 1I 1 t 1 1 I 1 I 1 suceessfully" Stempel has broad experienee gleaned from his 33 years at GM In Europe he helped introduee manufarturing efficieneies that turned a $370 million loss in 1985 into a $I 8 billion profit last year said Dcmg Lauglilin an analyst Co in New th Rear Stearns I Li! a a finaneial decision (Stempel's aprointment seems to be a ph sophieal dernsinn as opposed to 'What are we doing to make the shareholders happyl— Stempel was the image of anI felt thority when he took terrifie getting up this morning: he told reprirters at a briefing that Aug I where he introdueed a new management team and outlined broad goaL for GM He used a chart: the words taii aryl 'teamwork" came up 114 time Yet thing were difficult frorn his serond day Iraq invaded Kuwait the beginnings of a war that would scare consumers frren teiying new cars and tracks That was on top of th e riatn's firt reression in eight years vhkh aixf) W33 curbing salera Meanwhile GM had been losing more salea to the Japariec e whieh held 25percent to! u S market at the end of 1991 GM has about 35 percent now cfrpra fveri 45 percent in I a and nearly Ph percerit in the late 19544 A rial ysts say G M3 problems date to long before Stempel took for illcharge In the early I staro!e GM built seven faetories as the eronorny emerged from the last reeession Now GM is closirg plants as it aekriowledges it's ft" h sion's department He also worked on einne desiva before being named assistant chief ergineer at Oldsmobile in 1972 Meanwhile he had three children with his wife Pat ineluding a son who was kidnapped in the early 1970is The son was released unharmed and not murh informa kuewaa chassis-desig- ' - 44 pr Pop liebiewted Known first for hii enO'noring pel n4w 14 Mlne COneernp4 with lion is available about the inrident Sinre theri Stempel has parded his private life whirh spends in Bloomfield Hills a Clan-ma- n Robert than with fuel injeetorc 011 '1Paittiy Sliturb north of Detroit On hi way up — as general manager of Pontie as toad of Adam Op71 in Germany as head of keep it from deteriorating during th-operation "Within the next 12 months- we plan to introduce two or three nOrN product that should pretty much solidify our position in that market- Mr Crocker said We want to have products in every conceivable niche 3l) potential competitors will find it difficult to compete th "It isn't that they've intrryluced another new product that is important it'3 that they're filling in every niche and trying to hecorne the dominant player n the cardiopleZa area- laid Cathy Recker a analyst with the brokn r Research Industries Corp of Salt Lake City has intro4y7e4 a new catheter to protect the heart surmuscle during open-hea- rt gery The new -- textured balloon-tippe- d catheter" is the latest in a series of products desicried to fill every conceivable niche in the growing cardioplegia market according to President Gary Cr()rkPT Cardioplegia is a technique used open-hear- t surgery where doctor:3 Infuse either a cold or 'tarrn solution into the heart muscle to in Hill in age of Adams Harkness Boston She said the market is 'North S3r) million to CA million a year Research industres -- stands a good chance of capturrg a izable portion of those revermes" Mr Crocker said Xalfa of cardio r -- t 1 71 DALE CARIIEGIECOURSE4 41 Hve 3r1 Pe4 41? 3$ CLA SSES ROW FSPV:115 woorrmairso 353-522- cf 4 -- P4-It- S1 SotcddroAt osirirry - 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Jay Goldinae-- is heart-muscl- e i -' rur pleZa devices are the major factor behind the company's accelorrating revem-tiAnd sales of the company's et-4- I Guide (WA-AAby Harmony Booksi and The Off Price Gliicle to Comic and Science Fiction Books (published by the How! of Colleetitlesi and should be available at cal library k DIGITAL PAGER sec-uriti- Guide For Conic Fandoln (1W)) R'ite 34 North East Moline Iii 61244 The other two are Crymic Bepolt Price entering high-risterritory I if read that the stock Q market is strong In January the market will perform well throughout the year Is this true aid if so does this mean we are at the be4nning of a M ontbull market? SfiME -r' A Y 013 can consolt three comic book prite guides The first is entitled The Euven a)o441 Weiss cautions ho-e- r that by investing in the surg'sig stock market today you are ? r----01--AA-A'A- morn 0 Firm Unveils Heart Catheter Seeks to Dominate Market Ry Steven Oberbeck ITT SALT LAKE nk!Fo-v- ti A Motrierprech is receiving many questioris concerning stork market investing ince interest bearing investment are 71el4ring such low reams To find an answer to your question I referred tpl broestment (421ify Trends C7440 Girard Ave Suite 4 La Jolla Calif '1437 whitt ranks company storks by their dividend yield Editor Geraldine Weiss has found over the years that fro! Dow Jones Indostrials reach an "over vat134!" point when the etiviiltnel yield is 3 percent and an "LEIck-r value" level when the yield 'A 5 percent With the recent January surge in the Dow the divitierAd yield is currently below 3 percent — lUttl a low mark The D?rs?rnT issue of In verttrortil (fuolity Trend listi 43 eornpars that frcprn a dividend standpoint are un4erv- a York Stempel started modestly in 1958 joining the Oldsmobile divi- Goldin ger i or Su-do- Jay :1 Smith" 'They are of different orientawould tions entirely" he said charaeterize the Smith approath f ) r-- -Laughlin said he has a whole different view of Stempel than 1 A No ote is ever sure when a bull market be tm until after the fad but what you have The read has some vandity - and 'the barometer"January barometer-hav- e been noted for their accuracy in forecasting stock market activity Yale Hirsch author of the 1 feri Stock Traders A lirvrivie (Six Deer Trail Old Tapan NJ Cr767-5is credited with discovering these two stock market indicators Hj-ic- h finds that when stock market aetivity during the first five days of January is strong the rest of the year follows true if viit This is the stock market continues its robust pee for the rerriainder of January Sinte 1S60 no other EtrAtk market ind'rcator has predicted the annual course cif the market with this much aecuraey Qi While cleaning out an &id desk that vas part of my mcAher's estate I distowered a ISO Donald Duck cornie book La good condition I also own a large number of cornle books dating from the I Wm '544 and '6ees Where no I find out what they are worth? — BH Taos NM Q i have been a stock market investor for years Normalty whenever interest rates fall I purchase stoek in good quality comrrantei offering relattvely high dividend yields I'm looking to do the same now but I can't seem to And sound companies that pay high dividends Is this an indication that I should stay out of the stock market? — OS Ashtabula Ohio aAndift L) lov" top Lore CA'r tP-Ai- g tirs 4 |
