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6The Daily Tar Heel Tuesday, Novemoer 3. 1937
Bidding
from page 1
potential bidders if the entire cost of
work exceeds $50,000.
In addition, the law requires
.separate bidding on four specified
areas of work: heating, ventilating, air
conditioning; plumbing and gas
fittings: electrical wiring and instal
lations; and general work relating to
the buildings erection, construction,
alteration or repair. 1 he contracts are
to be awarded to firms regularly
engaged in those lines of work.
According to Womack. the Uni
versity is permitted by state law to
handle all building projects. For those
costing more than $50,000, however.
the state statute is applied and the
project must be advertised to several
bidders Phis is where the violation
occurred.
Traditionally, the athletic depart
ment has been allowed to award its
own contracts on repair projects,
Womack said, and the department
classified the renovations to Kenan
Stadium in this category. The athletic
department was the only University
department that didn't follow a set
ot guidelines for awarding such
contracts, he said.
Gordon Rutherford, UNC director
of facilities planning, said that when
the University begins a construction
project, it establishes the project as
a capital building project, which is
a project that costs more than $50,000
and involves repairing or erecting a
building.
When the proposed construction
has been established as a capital
building project, Rutherford said it
can be funded from several sources,
including grants, gifts and general
fund appropriation.
He would not comment on whether
such violations of the bidding process
have occurred in the past. "The
situation has been corrected," he said.
The Qhsipd Mil Newspaper
faces ctoaiige in o wmerslhio
Falling dollar may affect N.C. industry
From Associated Press reports
CHARl.OTTF. II the falling
dollar slows imports, it could boost
North Carolina's already healthy
textile industry and other industries
that compete with imports, some
economists say.
But those economists add that if
the decline in the dollar is accompan
ied by a drop in consumer and
business spending and a rise in
interest rates, the celebiation a ill be
short-lived.
The dollar again Monday in
New York to postwar lows. But the
dollar's decline was not as sharp as
it had been oer past weekends, said
Larry Ryan, foreign exchange man
ager for European American Bank in
New York
Most economists predict the dollar
will decline against most currencies
over the next year as a result of the
nation's trade deficit.
One effect of a weaker dollar could
be price increases for imported goods.
U.S. products also would cost less
overseas.
" The bottom line is it should help
textiles," said Dan Friel, an econo
mist at NCNB Corp. in Charlotte.
Textile and apparel industries, which
employ 325.000 people in North
Carolina and South Carolina, have
been troubled in recent years by
increased imports from South Korea,
1 aiwan and other foreign producers.
But Friel says the equation isn't
simple. U.S. textile and apparel
companies w ill be helped only if the
dollar weakens against the currencies
of their foreign competitors.
Since mid-August, while the dollar
has declined 5 to 6 percent against
the currencies of Britain and Japan,
it has weakened only 3 percent against
Taiwan's currency and 1 percent
against South Korea, and has held
steady with Hong Kong.
So rather than rejoicing over the
dollar's prospects, many textile,
apparel and furniture manufacturers
are more concerned about the effects
of the Oct. 19 stock market crash on
consumer spending. But those figures
won't be evident immediately.
"It's going to be December before
we have a good feel for what hap
pened," Friel said.
By BRIAN LONG
Assistant Business Editor
The Chapel Hill Newspaper could
change owners by the end of the year,
the paper's publisher said last week.
But two area newspaper executives
and a journalism professor think a
change in ownership would have little
effect on newspaper competition.
Orville Campbell, 67, publisher of
The Chapel Hill Newspaper since
1954, said Friday that he would make
a decision regarding a buyer soon.
"When you become 67 years old,
you start thinking about which way
your life's going to go," Campbell
said, citing his reasons for selling the
paper.
Campbell would not mention
prospective buyers, but James Shu
maker, associate professor of journal
ism at UNC, said that Ottoway
Newspapers Inc. is the main
contender.
Ottoway is a New York-based
division of Dow Jones & Co. Inc.,
publisher of The Wall Street Journal.
E.T. Rollins, publisher of The
Durham Morning Herald and The
Durham Sun, said rumors that
Ottoway wanted to buy The Chapel
Hill Newspaper had been circulating
among Triangle newspaper publish
ers for years.
Representatives from companies
such as The New York Times,
Ottoway and The Savannah Group
have been talking to Campbell since
the 1960s, said Shumaker, who was
editor of the paper from the 1950s
until 1972.
"I don't think he's been seriously
interested in selling until the last five
years," he said.
Following an article in The
(Raleigh) News and Observer Thurs
day, two more companies contacted
Campbell about buying the paper,
Campbell said. "I told them I would
let them know if anything developed,"
he added.
Campbell said the newspaper's
stockholders must agree on a buyer
before the sale can be finalized.
He declined to comment on how
much the paper is worth, but Shu
maker estimated the paper, building
and land could be worth as much as
$6 million.
Area newspaper executives offered
guarded opinions on what impact a
major media company buying The
Chapel Hill Newspaper could have
on competition in Orange County.
"I can't speculate on what a new
owner might do," said Dave Jones,
general manager of The News and
Observer. "(The sale) wont affect
what The News and Observer does
in Orange County at all."
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Jones said Chapel Hill and Orange
County are important parts of the
Research Triangle area in regards to
circulation and advertising, and that
competition among newspapers is
always present.
Rollins said he is not sure if the
buyout would cause competition to
increase.
The Ottoway people would want
to improve the paper," he said. "But
afternoon papers do well in some
places, not so well in others."
Shumaker offered more insight
into the matter, saying, "It doesn't
depend so much on who buys it as
if they're willing to pour tons of
money in it."
He said an aggressive owner might
invest enough money in the news
paper to get the Durham Herald's and
N&O's attention. But, he added, the
converse of that is the new owner
could invest money for five years and
not break even.
Shumaker said the new owner also
could choose not to pour large sums
of money into the paper. "If (the new
owner has) in mind just letting it rock
along like it has been, hell, it's not
going to affect them (Durham Herald
and N&O)," he said.
Louis Graves founded the paper as
The Chapel Hill Weekly in 1923, and
served as editor and publisher.
George Watts Hill, chairman of CCB
Financial Corp. in Durham and
Campbell's father-in-law, headed a
group of investors who bought The
Chapel Hill Weekly in 1954.
The paper became The Chapel Hill
Newspaper in 1973 when it began
daily publication. It publishes Sun
day through Friday, and has a daily
circulation of 5,550 and a Sunday
circulation of 7,100.
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