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Show The Enterprise Review, December Page 2b California Price Wars Hurt Albertsons Earnings Albertsons, Inc. period re- amounted to $12,759,066, as compared to last year's $12,332,371, an increase of Earnings ported that sales for the nine months ended Oct. 30, 1976, totaled $1,086,827,070, an over the increase of 16 $936,280,326 reported for the same period last year. h Farnings for the 3. per share for the nine months declined from $1.87 to $1.69 due to the dilution caused by the issuance of nine-mont- Order your custo. business gifts soon 825,000 new shares of stock in January. 1976. Sales for the period ended Oct. 30, 1976, 13-we- increased ek to 17 $381,122,616. compared to $326,820,837, last year. Net earnings for the quarter totaled $4,144,155, or $.55 per share as compared to $4,561,646. or $.68 per share last year. Warren E. McCain, president, in making the announcement, indicated that earnings for the third the Xmas rush may cause delays. quarter were hampered by continued intense pricing in the comcompetition panys California markets and the inability of the company to increase retail prices to keep up with the spiraling cost of labor and other expenses. The company opened nine new stores and closed two older stores during the In addition, the quarter. Skaggs-Albertson- EXECUTIVE 831 WEST SALES GIFTS 1ST SOUTH S.L.C., UT. 84104 INCENTIVES Phone (801) 328-870- 6 partner- s ship opened four new stores. During the fourth quarter the company anticipates the opening of three additional Albertson's stores. UNIVERSITY 230 So. 13th E. s? N 583-101- 3 HOLLADAY University Fashion Show Thursday, 2340 E. 4800 S. 3:00-3:4- 5 272-106- 1 PHASE III 1504 S. 486-479- CKKD State St. 1 Phase III Fashion Show Tuesdays 12:30-1:1- 5 QQ 9)0 G) 6Q06Q) TOO Q tKDGGfflQOOQQ oood(K?o 0OGD ftaimUCrfi can Q 1, 1976 Drug Firm Will Buy Assets of Distributor Deseret Pharmaceutical Co. said last Wednesday that it had agreed in principle to purchase substantially all the assets of Enns & Gilmore Ltd., Deseret's exclusive distributor in Canada. Deseret said the purchase price, consisting of a combination of cash and Deseret common, will be about $800,000. The company said it intends to expand Canadian operatons including heavier marketing concentration and manufacture of certain of its products. Ball Speaks FredS. Ball is the Executive Vice President Salt Lake Area Chamber of Commerce FREE ENTERPRISE MONTH Friends of free enterprise at home and abroad recognize that economic freedom is essential to political freedom and personal liberty. Free enterprise has been a major factor in the progress of our great nation and in the prosperity of its citizens. Free enterprise has been acknowledged by people throughout the world as the economic system which creates material wealth and abundance while safeguarding the principles of individual freedom. Forces of socialism and communism understand that their own economic systems cannot compete with free enterprise and they must therefore seek to destroy it. For decades. May 1st has been celebrated widely throughout the communist world. Finally, the economic has FREE ENTERPRISE system that does work countered with a special time of its own. The Salt Lake Area Chamber of Commerce has dedicated the last two weeks of November and the first two weeks of December as Free Enterprise Month in Utah. The program was kicked off at a very well attended breakfast on Thursday, Nov. 18th at the Hotel Utah. Over three hundred business leaders met to honor outstanding elementary, junior high and high school students who recently competed in a contest to come up with the best definition of Free Enterprise. The breakfast also featured Governor Calvin Rampton and Salt Lake Mayor Ted Wilson emphasizing their beliefs .in the soundness of Americas economic system. Featured speaker Dr. Marilyn Kourilsky of UCLA and Weber State College kicked off the month long Free Enterprise celebration with an outstanding presentation and film that highlighted private enterprises and the teaching of free enterprise to elementary students. Special kits prepared by the Salt Lake Area Chamber of Commerce were also distributed to all in attendance. The kits provide information employers can use to educate employees about the merits of profits and freedom of interference of government entities. Such items as bulletin board posters, payroll stuffers, editorial content for company house organs, free enterprise stickers for utilization on statements and correspondence, suggested letters from corporate officers to employees and other valuable material were included in the packet. Fourteen billboards have been erected throughout the Salt Lake Valley, each proclaiming the month long theme "Free Enterprise sometimes we forget how well it These fourteen billboards were each sponsored by works." local corporate citizens to help spread the message of the Free Enterprise Campaign. Image of Business Chairman, Robert Arnold of Arnold Machinery and Chamber staffer Kay Dimas emphasize that this effort will be the first of a long range continuing program to constantly emphasize that our country was established on the premise of a free enterprise economy and also on a .premise of freedom of the individual. The future vitality of our society depends on our continued success in responding to the competitive market pressures inherent in our American economic system. Efforts to strengthen and promote free enterprise are steps in the right direction. All local concerns should support the committee s policies that seek to reduce unnecessary government regulation while encouraging sound and responsible financial measures that permit individuals to reap the rewards of their initiative, skill, and hard work. Additional kits of information are now available to any Chamber member by dropping by the offices. We encourage every single business entity in the Salt Lake Valley to rally behind this most needed effort was a recent comment by Richard Wells of Wells Distributing. Chamber of Commerce President. |