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Show The National Enterprise , February 2, 1977 Page three Vail Associates President Tenders His Resignation Richard L. Peterson, president of Vail Associates, Inc., (OTC 7.875, 8.375) primary developers and operators of the Vail, Colorado ski resort, last week tendered his resigna VAIL, Colo. c TTMs tion to the companys board of directors, to become effective on a date to be mutually determined between himself and the board. Peterson said he was resigningto seek new and was oimc a tamcMoad challenging career opportunities in related business fields. President of Vail Associates since November of 1970, Peterson said he regretted leaving his management team and staff, but felt that he had accomplished the tasks set for him when he joined the company. Harry W. Bass, Jr., majority stockholder in Vail Associates through the September purchase by his Goliad Dallas, Texas-base- d Oil and Gas Co. of 400,000 shares of N. Y. Calspan Corporation (OTC 5.00, 6.00) reported a loss of $16,000 for its second quara ter ended Dec. 31, 1976 BUFFALO, substantial improvement from the $308,000 loss recorded in the prior quarter. Revenues for the three months climbed to $8,244,000 from $7,565,000 for the earlier period. The loss of $324,000 or 29 cents per share came on revenues of $15,809,000 and compares with a loss of $232,000 or 21 cents per share on revenues of $17,301,000 for the same six-mon- Associates common stock, expressed his regret at Petersons decision Vail to resign. Since becoming presi- For 15 years, the Clear Air Solid Waste Disposal System has been reducing garbage volume by 90, converting it to a valuable energy resource, and doing it more efficiently than any other system on the market today. da never be a shortage of garbage, only a shortage of space to put it. As this problem becomes increasingly acute. Clear Air, Inc. will continue to pioneer the most efficient systems of solid waste disposal and materials recoveryrecycling with energy generation in the bargain. EPA standards? We exceed them all. Clear Air, Inc..'..meeting the needs of the future. There will dent in 1970, Peterson has greatly enhanced the financial and organizational strength of the company, as well as effecting major improvements in the quality of the Vail product, Bass said. Peterson said he had been asked, and had agreed to continue as president until a successor has been named. He said he had also agreed to assist his successor in assuring a smooth transition of management responsibilities. The Vail executive said he would continue to live in Vail with his wife and son for the foreseeable future. 37 Caati Ava. Baffalo, N.Y. 14216 a V P.O. Ill Ofldaa, Utah 64462 P.O. Bom H W Bartlett. 111. 66103 ri th period last year. Second quarter results of a year ago showed a $234,000 loss against revenues of $9,131,000, Calspan said. The company attributed the improvement in second quarter performance to higher productivity from its research and development (R & D) operations and a lower provision for cost disallow- ances anticipated under government contracts. At the same time Calspan cautioned that major expenses continue to be incurred from its subsidiary According to executive vice president Robert Cobb, the companys two divisions and wholly owned subsidiary will be sold and the proceeds distributed among its 1,100 BROKEN ARROW, of Braden Industries (OTC 7.625, 8.125) voted last week 933,552 shares to 7,658 to liquidate the company's holdings. i i i i i i i i i i i I vestments totaled $900,000 for the period, Calspan over six-mon- th reported, and are expected to rise through the remainder of the year as early production begins on its new ROTO-STE- P oil free air compressor. Although its R & D operations improved in the quarter, Calspan said uncertainties persist for the remainder of the year, particularly regarding the new Administrations actions toward Federal support of R & D. these factors, the company does not expect to return to profitability in the second half of the year. However, the declining revenues experienced by Calspan over the past four years appear to be bottoming out and performance for the year should improve considerably from the $1,257,000 loss recorded in the prior year, the company announcement Recognizing shareholders. They will receive approximately $7.50 per share during the first part of April, he said. will hold Braden in reserve for $1,875,000 unknown contingencies, he added. The executive said Paccar, Inc. of Bellevue, Wash, will purchase Bradens winch production division, headquartered in Broken Braden has operated the division since Arrow, Okla. i i i i i i i i i operations responsible for developing the companys first products of fingerprint identification systems and rotary air compressors. Such new product in- Shareholders Vote to Liquidate Braden Assets ers leaf df, Dag. Calspan Continues at a Loss , But with Signs of Improvement 1925. Covered With over 1600 stock quotations, news articles, earnings reports, corporate profiles, market columns and feature stories, the National Enterprise covers the OTC securities market from coast to coast. behind closed doors of We make it our business to know what's going on in the industry-fro- m We'll keep you posted on the corporate board rooms to changing securities laws and regulations. latest developments and abreast of current trends. The National Enterprise gives your investments the kind of coverage they deserve. Please send me a one-yea- r subscription to the National Enterprise. Mail to THE NATIONAL ENTERPRISE P.O. BOX 11778 SALT LAKE CITY, UTAH 84147 : ADDRESS CITY The company is being Enclosed is $24.00. NAME . - STATE ZIP Bradens Aermotor, water pump manufacturings division, will go to Valley Steel Productions Co., St. Louis, Mo. Aermotor has been producing water pumps for household and agricultural use since 1890. Tulsa Screw Products, Inc., a wholly owned subsidiary of Braden, will be in Deleware under the same name, Cobb said. The fastener and screw manufacturing company will remain in Tulsa. . liquidated for the benefit of Cobb the shareholders, said, adding he was not at liberty to offer further |