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The daily Tar Heel. (Chapel Hill, N.C.) 1946-current, September 28, 1989, Page 5, Image 5

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NCNIB amid Forst Uotidooti i - yy v s; -4i n n n I V ' " I "jWMiamww " -i j- fj MM U 111 S. V : i- f - i I v I Lin It .J twwwnm"4r y. V y ' .,.: tr Watch this space A specialty shop will soon occupy304 W. Fran klin St.. The town counciil approved the devel- DTHShiela Johnston oper's plans for the shop last May. Construction must be completed by May of 1991. commo move uo m ramiiic By KEVIN GREENE Staff Writer The growth of North Carolina's two largest banks, First Union and NCNB, could make Charlotte the nation's fourth-largest banking city by the end of the year, officials from the two banks said. Charlotte's North Carolina National Bank (NCNB) Corp., currently the ninth-largest bank in the nation, may move up to eighth when its third-quarter assets are released at the end of the month. The move would likely be caused by plans by Manufacturers Hanover Bank to sell off more than 10 percent of its assets. New York's Manufacturers Hanover Corporation, now the nation's seventh largest bank, plans to sell off up to $ 10 billion of its assets. First Union National Bank, also based in Charlotte, is in the process of moving up in rank as well. Currently No. 19, the bank plans to acquire Flor ida National Banks during the fourth quarter, said Priscilla Walters, a First Union spokeswoman. The acquisition, which should take place near the end of this year, would increase First Union's assets to about $38 billion and make the bank the 14th largest in the nation, Walters said. "We feel very comfortable that we are a viable player in the market," Walters said. At the end of the year, if NCNB and First Union have advanced in the na tional rankings, Charlotte will be the fourth-largest banking city in the na tion. The banks' growth this year would place Charlotte ahead of such cities as Pittsburgh, Boston and Chicago. NCNB moved from the 18th posi tion to ninth earlier this year when the corporation increased its assets to slightly more than $60 billion by mov ing its Texas bank holdings into corpo rate assets, bank officials said. John Meyers, Manufacturers Ha nover vice president of corporate pub lic relations, said the bank was in the process of selling 60 percent of its CIT Group, Inc., a division of several indus trial finance companies. Manufacturers Hanover will retain control of 40 percent of CIT Group but will lose from $9 billion to $10 billion of its assets as a result of the sale, Meyers said. Manufacturers Hanovef now has assets totaling $71.9 billion. Manufacturers Hanover is selling part of its assets to increase capital aiio avoid the possibility of a forced merger with a stronger bank. NCNB continued to grow in the third quarter, recently acquiring two Texas savings and loans and Great Atlantic Savings Bank of Manteo. . ; . Lynn Easley, NCNB assistant man ager of corporate media relations, said the recent acquisitions did not substan tially increase corporate assets but provided evidence that NCNB was growing and would continue to do so. She would not comment on any pos sible future mergers or acquisitions. Both Easley and Walters of First Union said North Carolina's three strongest banks - NCNB, First Union and Wachovia - created an atmosphere of healthy competition from which the state would benefit. Group to deaim up dlowmitowni By CRAIG ALLEN Staff Writer The president of the Downtown Commission unveiled tentative plans Wednesday for a downtown cleanup program to answer recent criticism about the commission's role in keeping downtown clean. The "Downtown Pride" program is still being planned but the program will soon be in place, said Joe Hakan, presi dent of the Chapel Hill-Carrboro Downtown Commission. Hakan's plan came after James Heavner, president of the Village Companies and the Public-Private Partnership, criticized the commission's efforts in keeping downtown clean in a letter to Mayor Jonathan Howes. The Public-Private Partnership formed the commission to aid downtown revitali zation. The Village Companies donated $10,000 to the Downtown Commis sion to aid cleanup efforts. The busi ness group has been asked to contribute another $10,000, but will do so only if it is connected to an "absolute commit ment to get downtown cleaned up," Heavner told The Daily Tar Heel in an earlier interview. The commission is responsible for conducting special services downtown. Those services are paid for by mer chants whose businesses are located in a downtown tax service district. The services are under contract from the town and include the trolleys, capital improvements, promotion, special events and vacuum sidewalk cleaning. The service district was created last year. The commission operates the vac uum for two hours each morning from Thursday to Monday. The commission also makes the vacuum available to private property owners. Heavner said present efforts were not enough because the sidewalks needed to be swept once a day along downtown Franklin Street. Hakan said the Downtown Pride program, which he and Heavner had been working on together, would en hance the commission's cleanup ef forts downtown. "We're going to go door to door, asking people to make a commitment," Hakan said. "There will be prizes awarded for the best business every month." Stickers or placards in windows will allow participating businesses to let customers and neighboring businesses know they are attempting to keep downtown clean, Hakan said. "We don't want a dime from any body," Hakan said. "We want a com mitment. We want to get them in volved." Hakan also said he hoped there would be some way to involve students in the program, such as issuing citations to students seen picking up trash in the downtown area. "I have lived here for years," Hakan said. "If you don't have students, you don't have anything." In other business, Scott McClellan of the Chapel Hill transportation office reported on the first 15 days of trolley operation in the downtown business district. After less than a month of operation, the trolleys are carrying an average of 40 passengers per hour. McClellan said the commission should be proud of the average. "In the bus business, that is a high productivity rate," McCllelan said. McClellan said problems had kept the trolleys from running at 12-minute intervals as originally planned. There has been only one road call for mainte nance, he said. McClellan said those problems would be ironed out as the route be comes more familiar to both drivers and riders. Commission co-director Debbie Dibbert answered questions concern ing the lack of trolley service for parts of Rosemary Street. "We would like to let the route run for a month or so, let it work out its kinks," Dibbert said. CommissDODD cosporosore 'Tan greaf By HEATHER CLAPP Staff Writer Two events taking place this week end as part of Homecoming festivities are serving an additional purpose: at tractions to help bring people down town. "One of the prime purposes of the events is to bring the fans back to Fran klin Street," said Debbie Dibbert, co director of the Downtown Commis sion. She said the commission hoped the events would spur business down town both before and after the game. Friday night's Franklin Street Ex travaganza, a carnival and pep rally featuring bands, food and jugglers, will be sponsored by the Chapel Hill- Carrboro Downtown Commission Corporation and the Carolina Athletic Association (CAA). On Saturday, the General Alumni Association (GAA), the CAA and the commission will co sponsor 'Tailgreat" at 1 1 :30 a.m. on McCorkle Place. Dibbert said the all-you-can-eat, tailgate-style luncheon would take place before the Homecoming game against Navy and was designed to bring alumni downtown for the afternoon. The commission provided assistance in promotion, ticket sales and coordi nating the entertainment for the annual event, Dibbert said. The GAA has always had the pre homecoming barbecue and this year it contacted the commission to get the town involved as well. Entertainment during the event will be provided by the Clef Hangers, the Pep Band and the UNC cheerleaders. In the past several years, Franklin Street's popularity among visitors on game weekends has decreased because of late kick-offs, lower availability of parking and fewer activities, Dibbert said. This means less business for Fran klin Street merchants, many of whom used to count on game days as big business days. The carnival and tailgate luncheon havebeen planned for quite a long time. The GAA first approached the Down town Commission a year and a half ago about co-sponsoring Tailgreat. Later, the commission later contacted the CAA to get their support and involvement. Stocks 2673.0 u UP9.12 Volume: 158 million shares COMPANY BellSouth Duke Power Food Lion Ligget NCNB Corp. CLOSE 53 7B 50 78 .11 m 10 78 51 38 CHANGE 38 34 38. YR HIGH 54 78 53 14 YRLOW 38 58 42 34 1 18 11 55 78 8 25 78 34 WK. AGO 54 38 51 58 12 12 11 12 51 38 27251 2700 ? 1 Fl 2675 p PI mi 2650 md '' " ' ; ; !- i 2625 i t r 0 j ' i-J" ! p 2600 PI I ' ' I ' ' i I ! - 2575 p. : ! M M M I M 1 f I 2550 S. iJ' j i I j j : J I M 2525 j : ; U : J iUM 2500 M :"i M f j M M M 719 726 82 DTH Graphic 89 816 823 830 96 913 920 Source: Merrill Lynch Pierce Fenner & Smith, Chicago Career Corner Resume Drops Oct. 3, Oct. 1 0 Open Sign Ups Oct. 1 8, Oct. 27 National magazine features business school From staff reports This week's issue of Business Week magazine features an article about the UNC School of Business Administra tion and Paul Rizzo, the school's dean. Mike Collins, a spokesman for the school, said the coverage should help the school recruit more and better MBA candidates. "We are really glad the school was singled out for this recognition," Collins said. The article, titled "Why Angels are Business Briefs Carolina Students' Credit Union Rates Flocking to Chapel Hill's B-School: Ex-IBMer Paul Rizzo, the new dean, has the bucks rolling in," tells of the school's success in increasing the number and quality of its graduate stu dents since Rizzo took over in Septem ber 1987. Rizzo, a 1 950 UNC graduate, was formerly IBM's vice chairman. Rizzo received much of the credit for last year's 35 percent increase in 1 30-89 Days 90-179 Days 180-269 Days 270-364 Days 365 Days 8.000 simple 8.0108.339 8.0508.382 8.0508.382 7.7858.095 Compounding Is daily. Rates subject to change daily. $100 minimum deposit. Insured up to $100,000. Rates for longer terms and larger principals are available. Share Secured 11.00 Co-Signer 14.00 Travel 16.00 Hours: Mon.-Frl. 10 a.m.-3 p.m., Sat. 12:30 p.m.-2 p.m. Phone: 962-CSCU CSCU is not affiliated with UNC-CH DTH Graphic Source: CSCU cash contributions to the school and improvements made at the graduate school. But Collins said the faculty and staff of the school deserve credit as well. "A lot of the faculty have done an outstanding job," he said. Cash contributions in the 1988-89 school year totaled $3 million. Business Week called Rizzo "a Tar Heel hero" who has "already raised the school's profile by hitting up his busi ness contacts to make donations." July trade deficit down The nation's trade deficit for July decreased by $400 million from the previous month, according to informa tion released by the U.S. Department of Commerce earlier this month. The seasonally-adjusted trade defi cit for July was $7.6 billion. For the first seven months of 1989, the deficit was slightly more than $60 billion. The figures are based on Census Bureau reports. The Hub celebrates birthday The Hub Ltd., at 103 E. Franklin St., will celebrate its 30th anniversery Oct. 1. Owner Bob Rosenbacher opened the shop in 1 959, seven years after opening the first store in Durham. "There have been a lot of changes, but change is for the good," Rosen bacher said. "The excitement of Fran klin Street has certainly made for an enjoyable 30 years." The Hub now has four locations in the Triangle one each in Chapel Hill and Durham and two in Raleigh. Date Company Job Major 1025 Armstrong World Industries Sales BUBS 1025 Branch Banking Trust Gen.Mgt. . BUBS, ECONBA, INDRBA, APCSBS, MATHBABS 1025 Electronic Data Systems ANYBABS 1025-26 General Foods Sales BUBS, ENGLBA, HIST7BA, INDSBA, PHYSBA SPCHBA 1025-26 PPG Industries Finance, Acct.. CHEMBSMS, APMABABS, BUBS Man. Info. Sys. COMPBABS, MATHBABS, ECONBA Chemist 1025 Roadway Express Inc. Marketing, Oper., ANYBABS Management 1025 U.S. General Accounting Off. Analysis POLIBA, APCSBS, COM PBSMS Public Admin. APMABS, ORSABSMS, Man. Inf. Sys. STATBSMS 1025-26 U.S. Navy Officer Programs Operations ANYBABS Gen. Mgt. Mgt.lnf.Sys. 1026 Duracell ' Sales . ANYBABS 1026 Fidelity Financial Services Insurance ANYBABS Marketing Sales 1026 Proctor & Gamble Sales ANYBABS 1026 Sovran Financial Corp. Banking ANYBABS Finance 1027 Env. Protection Agency ANYBABS 1027 Mobay Corporation Chemistry CHEMBSMSPHD, APPSBS Research 1027 Roses Stores Inc. Retailing ANYBABS 1030-31 Brady, WH Sales BUBS 1030 Texas Instruments Software Design COMPBSMS 1031 Aetna Life & Casualty Insurance BUBS. ECONBA, INDRBA 1 031 Hertz Equipment Rental Sales 1031 Office of State Control Parole Officer CRJUBA 1031 Union Carbide Corp. Quality Con., Sales CHEMBSBA 1031 United Telephone-Florida Management BUBS 111 First Union National Bank Banking ANYBABS Finance 111 J.C. Penney Co., Inc. Retail Mgt. ANYBABS 111 Norton Co. Sales ANYBABS 111 PillsburyCo. Sales BUBS 111 Radian Corp. Chemistry CHEMBSBAMS 111 Bank South Corp. Acct., Fin., . BUBS, ECONBA Banking 112-3 Milliken & Company Management ANYBABS 112 NCR Corp. Sales BUBS, ECONBA, INDRBA 112 Prentice Hall Sales ANYBABS 112 Prudential Insurance Co. Gen.Mgt. 1 025 Castner Knott Company 1027 David Michael & Co. Inc. 1030 Celanese Chemistry CHEMBSMSPHD 1030- Philadelphia Institute 1031 S.R.Clarke Sales BUBS, LIBABA 111 Libbey Owens Ford . . 112 Eastman Kodak Co. . Chemistry CHEMPHD 113 F.N. Wolfe Sales ANYBABS 113 Harris 3M Sates ANYBABS

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