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Show may 22, 1978 Mill shop TransAmerica opens SLC office TransAmerica Corp., the billion dollar conglomerate based in San Francisco, is into the Utah making market with a newly opened mortgage office at 1580 E. 3900 So. in Salt Lake. Heading up the office is Utah native Marias Nielson, who joins the company after four years with the Coldwell Company. He spent several years with Mason McDuffie in the Bay area before that. in-roa- ds Nielson said TransAmerica will open its office with four people initially. TransAmerica is very optimistic Utahs about growth, Nielson commented, and thinks Salt Lake holds excellent opportunities. The office will offer a range of financing for the residential market and income properties, he said, but will not have construction financing to begin with. spinning yarns of success py Sheri Poe Enterprise Staff Writer Starting without a job, a bank account or next months rent, Mel Milgrom literally made a rags to riches transition in the three years since he took a $15 gamble. Unemployed and nearly out of cash, Milgrom, a ghetto child from Philadelphia, had to dig deep to come up with the $15 which launched his career as a fabric shop owner and retailer of industrial rags. The Mill Shop, now with three locations, grosses an underestimated $10,000 monthly, and Milgrom has sinced branched into garment cutting and refilling fire extinguishers. It began when Milgrom joined a Salt Lake paper company as a salesman of a new woven cloth. paper product None of the industries he contacted was interested in paper rags, but purchasing agents confided there was a shortage in Salt Lake of good cotton rags. Making no sales, Milgrom quit his job. But that week in 1976, self-proclaim- Preferred Office Space Now Available At $5 to $6 per square foot. 2000, 1500 and 900 square feet available. Also small office suites from 200 square feet to 600 square feet with answering service and receptionist. 363-707- 363-581- 8 firrow Press .Square 3 ed Mel Millgrom has built a thriving business selling discount fabrics and industrial rags . Milgrom said he drove past a Salt Lake clothing manufac- Youd be amazed at the labor costs in keeping the bolts tidy, Milgrom explained. This way, we keep our labor costs at a minimum and that keeps our fabric costs down. Though the majority of his stock is sold at $1.49 a yard, Milgrom said he receives a lot of frankly ugly materials from his manufacturers. He displays these for three weeks at the stores, hoping someone will cotton to the bizarre. If they dont sell by then, he cuts the fabrics and sells them to local companies as industrial rags. The system works most of the time, Milgrom said. He keeps an inventory of about $50,000 in fabrics and purchases about 10,000 pounds of new material each month. said, business was sheer delight. He opened his first fabric shop at 4960 So. State and began developing a marketing strategy which continues to undercut established fabric dealers here by at least 50 percent. His other stores are located in Moab and St. George. He does his own purchasing, and admits there is no when he apknitpicking proaches a manufacturer he buys the entire stock. Since he is less than picky about the fabric and willing to clear a manufacturers inventory, Milgrom said he gets his fabric at a really, Then, he really low cost. turns around and retails it for no more than $1.49 a yard, piling it in bins instead of neatly displaying the material go But in the back of the dusty warehouse is $6000 of GOK material marked God Only Knows. These fabrics are so ugly and so ble to commercial use, we end up donating them or to hospitals continued on page 5 IfesiFgjsm os How do you get Personal Touch Banking from a Drive-U- p Teller? Easy. Drive up to Walker Bank. Your teller may be thirty feet away, but you'll get the same fast, friendly banking you get inside. And you never leave the comfort of your car. Plus, we'll give you lollipops for your little leaguers, and even a milkbone for the team mascot. Personal Touch Banking at Walker Bank. Because a bank should be more than just a place to put your money. a day Chrysler Cordoba or similiar 15.95 per day Unlimited mileage, must be returned to rental location. Valid Friday noon to Tuesday noon, Memorial Day Weekend, ms Wfe Walker Bank Mambar Fadaral Da posit Iniuranca Corporation try harder. 521-07- com- petitors. turer and noticed trash bins piled high with cloth remnants. He made a deal to buy the discards for $15, cut them into industrial use sizes and sold them the next day for $30 profit. From there, Milgrom EDiiy of bolts like his in rows 07 611 So. West Temple |