Show 20 r Ogden Way 13 1988 Tuesday Business COALVILLE (AP) — United Park City Mines Co has filed a $500 million lawsuit against developers of the Park City and Deer Valley ski resorts citing 15 allegations ranging from racketeering and fraud to trespass and breach of contract The 3rd District Court suit charges Greater Park City Co Royal Street Land Co Deer Valley Resort and Royal Street of Utah with violations of Utah's racketeering influences and criminal enterprise act fraud breach of contract and negligent misrepresentation Greater Park City also is charged with trespass on land owned by United Park City Mines According to the suit filed late last week United Park City seeks termination of the resort's leases to operate ski areas on mining company land and the removal of all lift towers located on or over United Park City property The complaint also demands the return of all water rights to United Park City Mines from resorts that allegedly leased water to third parties without the company's permission Nick Bedami chairman of Greater Park City issued a statement disputing all of the claims sales inch Retail Company lawsuit alleges fraud on Park City slopes ui) analysts disappointed Bedami said that until last fall when United Park Cily Mines was taken over by new management the ski areas and the Park City government had a cooperative relationship with the company “Now having paid lawyers huge sums of money to try to discover some means of breaking these agreements United Park City Mines' new controlling stockholders as represented by Bern ol fo and investors from New York seek to ruin years of successful working relationships" Bedami said The statement said the suit “can only hurt the e values of the real esgrowth and potential tate holdings" of United Park City Mines In the suit however the company charges that the owners of Deer Valley and the Park City Ski Area defaulted on those agreements Notices of the alleged defaults were delivered to Greater Park City and Deer Valley in November United Park City Mines seeks damages in excess of $50 million and punitive awards of more than $500 million Press Associated sales excluding autos However were down 04 percent the first decline in this category since a 06 percent drop last June Sales on a seasonally adjusted basis totaled $1169 billion last month down 19 percent from the peak set in September Led by the jump in auto sales demand for durable goods items expected to last three or more vears rose 28 percent last month following a 22 percent decline in WASHINGTON (AP) — Retail sales rose a disappointing 05 percent in April as a strong surge in demand for new cars barely offset widespread weakness elsewhere the government reported today The April increase marked the first time in three months that retail sales have risen but the advance was still disappointing to analysts who had been looking for a gain of double the actual change Retail sales have been sluggish for much of the year as consumers womed about high debt burdens have cut back spending items particularly for Sales rose a tiny 04 percent in January but fell percent in February and 09 percent in March The April increase the best showing since a 12 percent December rise was powered by a 41 percent increase in auto sales the largest gain in seven months Fed nominee H Robert Heller an economist at Bank of America was nominated to a term on the Federal Reserve Board on Monday by President Reagan March Sales of nondurable goods fell 08 percent led by a 23 percent plunge in sales at gasoline stations by This decline however reflects the sharp drop in gasoline prices rather than any weakness in demand for gasoline In fact dealers are now reporting that gasoline sales are hitting highs not seen since 1978 Denver TV developer won’t compete against Channel 30 sion station in Colorado Springs Colo Pankoff s company Satellite Communications Corp holds licenses for three stations and more than a dozen stations the latter for serv ing rural areas Pankoff said the television market along the Wasatch Front is quite competitive The area is served by four commercial broadcast stations besides Ogden’s Channel 30 “The cost of programming dictates that a have share to be large audience you profitable" Pankoff said the typical UHF station initially costs about $4 million for equipment and programming Executives at Channel 30 acknowledge that their station isn't profitable yet but they didn't expect it to be this soon after By DAN CUNNINGHAM Assistant Business Editor Denver television developer's decision not to build a TV' station in Ogden is welcome news for KOOG-TChanA nel 30 “I do not believe both stations could have existed in Ogden" said Channel 30 General Manager E Russell Sorensen Channel 30 — which started operations only last autumn — would have faced local broadcast competition if Denver businessman Jack Pankoff had proceeded with plans to build and operate Channel 24 a UHF station the Federal Communications Commission had authorized for the Ogden metro area “The numbers are not there to make it viable" Pankoff said of his decision to drop plans for an Ogden station Instead Pankoff is building a televi Stock report Monday’s closing Dow Jones avg 30 Industrials 178733 Close Down 210 start-u- - AsdDG Sl AnRtch I AIRsCp Ausaf AVEMC Avmc 178 fl)6 20 CestlCk CetrpT - 86 31) Hit CentE wi CenScW Crft’S Centner ' ft Ctimeln 5! 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S3 a 't'Ka‘6C M POCATtttO op Cpnt a: - P"f3 6243 73 ? 61 S’ 63f 6 4— rtoop U& r‘dS0 - 5s Co t’c Market report - KE V33 83 Per e Ik On Monday the Dow Jones industrial a see re d pped 210 to l“833 oiurre on the Rig Board came to 125 ?n commillion shares pared uh 13 "A? million in the gTcvotiS seswn His strategy is simple If the rearranged program lineup attracts viewers that in turn will attract more ad dollars 30)9 -- 122 - NYSE Volume Profile Down Same 899 409 Issues traded: 2006 I The station isn't carried by Inc's Salt Lake City and Ogden cable TV operations But viewers in the station's signal area can tune the station in by turning their VHF tuner to U and then tuning the UHF dial to 30 Sorensen said he still hopes to place the station on TCI's systems When Sorensen took the station's helm from Art Mortensen he also rearranged the programming In part he was “counterprogramming" or offering TV fare quite different from other stations He also moved some programs from the night lineup to morning spots because he thought they were “more conducive 'to morning times" Stocks and mutual funds NEW YORK (API MOdav tional prices tor Mew York Stock issues dividend List annual includes ratio (PE) Up 6S8 NEW YORK ( P) — The stock market moved modestly higher in early trading today The Dow Jones average of 30 industrials rose 483to 179216 by 1030 a m on Wall Street Advances nosed out declines by about 20 issues m the overall tally on the New York Stock Evchange The NYSE composite index edged up 005 to 369 S The Commerce Department reported today that retail sales rose 0 5 percent m Apnl the first gam in three months Despite the increase many analysts were disappointed because they had expected a stronger showing LaM month's gam reflected a surge in car buying and masked weakness elsewhere in the economy In the early going J CPerney stock gained 2' to 77 The retailor reported an increase in earnings for us first cuarter that ended April 26 from the same period of last year Winnebago was the at volume leader up Sorensen the former sales manager for in Salt Lake City remains optie mistic about the potential of his station He said the major advertising agencies have already made most of their purchases on TV for the season but he hopes to snare a larger share of national and state advertising this autumn He said that Channel 30'$ parent AGST also constructed a new station in the area of Hilton Head Island Harley vtlle SG and Savannah Ga are “They having more success than we are now" Sorensen said But Ogden is part of the nation's 42nd largest TV market while the Hilton Head station is in the 65th largest market “We are in a stronger market and the potential is greater" Sorensen said In an earlier interview Mark Lane Goldstein said that the typical UHF station becomes profitable after 8 months of operation Goldstein is president of American ComGainesville munications and Television the publicly held company that owns KOOG-TSorensen said this week that Channel 30 should be in the black by the end of its second year “Initially there have been some problems but we have overcome them" Sorensen said KOOG-Twas particularly hampered by the breakdown of a transmitting component several times during the first months of operation In fact the station was off the air in late March when Sorensen assumed command of the station “We think we have corrected the transmitter problem" Sorensen said - k“ i 4" J Y: t F' ftft “ft :r t F ! 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