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Wednesday, September 22, 1999 Page: 10B
AROUND TOWN
FINANCIAL MANAGEMENT SEMINAR PLANNED: A financial management seminar will
be
Oct. 26-27 at Convention Hall in Pittston TownshipThe event, sponsored by
PNC Bank, Ben Franklin Technology Center of Central and Northern Pennsylvania
and Team Pennsylvania/Northeast Region Entrepreneurial Network, is designed to
present and explore financial concepts.
Participants may choose to attend either day.
The first day is structured to benefit small or new business entrepreneurs
without a full-time professional on staff. The session includes the
fundamentals of financial analysis, factors which can improve financing
options, elements of cash management and cash budgeting and break-even
analysis and profit planning.
Day Two is designed for people with a basic working knowledge of financial
statement/presentation and analysis.
Participants will be shown techniques to control financial resources and
develop sound strategic financial plans.
The cost is $50 per person per day. The fee includes breakfast, beverages,
lunch and a course workbook.
Preregistration is required.
Checks should be made payable to the Economic Development Council of
Northeastern Pennsylvania, 1151 Oak St., Pittston, Pa. 18644.
For information, call council staff members David Nat or Paul Naples at
655-5581. The fax is 654-5137. The e-mail address is [email protected]
The council’s Internet address is www.microserve.net/edcnp
AREA COMPANY TO MAKE MARINE HELMETS: Gentex Corp. of Carbondale has been
awarded the initial portion of a U.S. military contract to produce new
lightweight ballistic helmets for the Marine Corps.
The contract covers 372,625 helmets and has a potential value of $83.2
million if all options are exercised.
Gentex will initially deliver 125 of the helmets to the U.S. Army Material
Command Acquisition Center at Natick, Mass., for testing by Dec. 15.
The company has subcontracted part of the work to the Federal Prison
Industries and the National Industries for the Blind.
Gentex designs and manufactures personal protection products, including
advanced helmet systems incorporating sights and displays.
STATE
UGI BUYS AUSTRIAN COMPANY: UGI Corp. of Valley Forge announced Tuesday
that, through its subsidiary UGI Enterprises, Inc., it has purchased all of
the stock of Flaga Beteiligungs Aktiengesellschaft, the largest retail propane
distributor in Austria.
Founded in 1947, Flaga markets more than 40 million gallons of propane
annually in Austria, the Czech Republic and Slovakia. It is the second-largest
retail propane distributor in the Czech Republic.
Flaga is headquartered in Korneuberg, near Vienna, and employs more than
400 people. It distributes propane from seven locations in Austria, eight
locations in the Czech Republic and two locations in Slovakia. Revenues are
approximately $53 million annually.
NATION
SUPER BOWL ADS COULD SEE RECORD PRICE: ABC appears to be getting record
prices in excess of $2 million for 30-second commercials in next January’s
Super Bowl telecast, up 25 percent from a year earlier, advertising buyers
said Tuesday.
If the average price winds up at $2 million, it would be the highest
average ever for commercials in a TV program and would easily eclipse the old
Super Bowl record of $1.6 million set last January.
Some reports have put the all-time commercial price record at $1.7 million
for the finale of the comedy series “Seinfeld” in 1998.
The Super Bowl telecast typically attracts the biggest TV audience of the
year and it has become a showcase for advertising as well, allowing the
network that carries it to charge seemingly endlessly escalating prices.
ABC officials declined comment on how much they were getting for Super Bowl
ad time or how much commercial time remains unsold.
FEAR OF WEAKENING DOLLAR HELPS DEPRESS STOCKS: Stocks fell sharply Tuesday,
pulled lower by increasing concerns about the weakening dollar, the growing
U.S. trade deficit and upcoming earnings reports.
At the close on Wall Street, the Dow Jones industrial average was down
225.43 at 10,598.47 after falling as much as 272.03 during the session. The
Dow’s decline, which amounted to 2 percent, was its biggest point drop since
it fell 235.53 on May 27.
Broader stock indicators also fell sharply.
Still, analysts said the selloff was a calm one, mostly growing out of the
uncertainties raised by recent economic news.
“There’s no panic selling,” said Barry Berman, head trader for Robert W.
Baird & Co. in Milwaukee. “It has the feel of a market that was a little
overextended, given the background of uncertainty.”