At Burlington Industries
Steak Dinners Celebrate Safety Mark
The Employees of Burlington
Industries of Raeford worked a
total of 9 million consecutive hours
without one of them missing work
because of an injury on the job.
That was in the period through July
20. i
So starting at 7 p.m. the next
day, the Burlington management
started serving steak dinners to its
1 employees as they finished their
work shifts.
The employees were served
around the clock till the last of
some 1,200 had received a celebra
tion dinner. Each steak weighed
about 10 ounces, incidentally.
The dinners were held outside
and inside the building.
Burlington, of course, has re
ceived an honor award from the
North Carolina Labor Commission
for its safety record.
Workers at Burlington j celebration dinner in a plant room July 21.
There was a "near miss," how
ever, in the last 48 hours before the
recording period ended. A worker
was injured July 19, and the injury
required medical treatment by a
doctor outside the plant. But the
employee wasn't gone from work
lotig enough for the company to be
marked with a lost-time accident.
Some of the employees having their steak dinners July 21 outside the
Burlington Industries plant. The dinners were held to celebrate
Burlington s having gone 9 million working hours without a lost-time
accident.
Ash well Harward [left] and Shuford Pennel at steak grill at Burlington's
dinners celebrating the Raeford plant s record of 9 million working hours
without a lost-time accident.
Miss Lovelace In S.C.
Governor's School
Mary Loyd Lovelace of Gaffney,
S.C., granddaughter of Mrs. H.R.
McLean of Raeford, and daughter
of Mr. and Mrs. Loyd Lovelace of
Gaffney, is attending the South
Carolina Governor's School for the
Arts, by appointment, this sum
mer.
She is a rising senior at Gaffney
High School. Miss Lovelace is
attending the special school
through August 8. The term started
July 4. The school is being held at
Furman University in Greenville,
S.C.
Miss Lovelace will serve as
resident of the Gaffney High
student body for the 1982-83 school
year.
Students are selected for the
Governor's School by a panel of
professional artists, writers, and
I arts and music educators on the
basis of over-all ability, talent,
achievement, and evidence they will
be successful. Less than half the
applicants for admission to the
school are selected by the panel.
Miss Lovelace has been studying
creative writing in high school the
past two years. Some of her work
has been published hi Maggie 's
Drawers, the writing publication of
the University of South Carolina at
I Spartanburg.
Mary Loyd Lovelace
Human being* art tht only
animati that can bluth.
SAFETY SIGN -- This sign at Burlington Industries tells the story of the
company's work safety record in Raeford. The employees, with their
positions or departments listed, shown with the sign are. front. L-R. Calvin
Headen. Pin Drafting; Ralph White. Weave Mill superintendent; and
James Bailey. Preparation. Rear. L-R. Hannah Lee. Twisting; James Kelly.
Preparation. Shirley White, safety coordinator; and Nancy Hodges. Yarn
superintendent. The picture was taken July 21.
"Patience and delay achieve more than force and rage."
Jean de La Fontaine
Deer Track
RACQUET * P 0 Box 991 Racford' N.C. 28376
Is Coming
Hoke Agricultural
Extension News
by Willie Feathers tone, Jr., Agricultural Extension Agent
"Disinflation" is a term cur
rently "kicking-around" in the
media.
Disinflation means a reduction
in the rate of inflation, which
means a reduction in the rate of
increase of the average of consumer
prices.
Disinflation does not mean that
the average of consumer prices is
falling, although some individual
prices may very well be falling.
Rather, disinflation means that the
increase in prices is slowing. For
example, this year inflation, on an
annual basis, has slowed from
approximately 10 percent to under
5 percent.
The slowdown in the rate of
inflation (disinflation) is viewed
favorably by most consumers. How
ever, disinflation does impose costs
on some consumers. Disinflation
hurts those consumers who pre
viously made decisions based on an
expectation that inflation would
continue at a higher rate. Consider
recent home buyers. The major
reason that homes appreciated so
rapidly in value in the late 1970's
was due to inflation. However, in
order for the home to be a good
economic investment, recent buyers
of homes, who bought at high
mortgage interest rates, were im
plicitly "counting on" continued
inflation to engineer rapid appre
ciation in home values.
The significant decline in infla
tion has dimmed the investment
prospects for homes and for other
"real property" investments, such
as 'gold, land, and collectibles.
Consumers who borrowed at high
interest rates to finance the pur
chases of such "real property"
investments are losers during the
current period of disinflation.
But disinflation also presents
opportunities for consumers in the
choice of their investments. The
opportunities are primarily with
respect to the term of financial
investments, such as certificates,
bonds, and U.S. government se
curities. Term merely refers to the
length of the investment. When an
investment carries a fixed interest
rate, term refers to the length of
time for which the investor will earn
that interest rate. Whether the rate
of inflation is expected to increase
or to decrease has an important
bearing on the investment term
that an investor will choose.
For example, consider the situa
tion of the late 1970s. The rate of
inflation, and consequently interest
rates, increased over the period.
Investors who bought securities
carrying fixed interest rates for *
significant period of time often
found that what they thought was a
high interest rate when they ob
tained the security actually turned
out to be a low interest rate at the
end of the investment's term. This
was because market interest rates
increased during the period. Con
sequently, during periods when
inflation and interest rates are
expected to increase, or have a
good probability of increasing,
consumers have an incentive to
invest in investments carrying short
terms. Short terms enable con
sumers to rapidly "turn-over" their
investment funds into securities
paying market interest rates.
A period of disinflation is the
opposite of the situation described
above. During disinflation interest
rates eventually will fall. This
means that at the start of the
disinflationary period interest rates
are at their peak for the near future
(e.g., six months to a year).
Therefore, the opportunity for
consumers, at the start of a
disinflationary period, is to in
crease the term of their financial
investments so as to "lock-in" the
high interest rate for the disinfla
tionary period.
For example, this would mean
taking investment funds out of
money market funds and buying
securities and certificates with
terms of six months to a year.
Furthermore, if the consumer is
convinced that the disinflationary
period will last longer, then that
consumer would want to buy
financial investments with even
longer terms.
There are, of course, risks to the
above strategy. The major risk is in
guessing the length of the disinfla
tionary period. For example, infla
tion could be quickly revived if the
Federal Reserve opened the
"money flood gates" before the
November elections. The current
"betting" is that the Federal
Reserve won't rekindle inflation. If
this prediction comes to pass, then
inflation will continue to be lower
and interest rates will fall. "Lock
ing-in" investment funds at fixed
interest rates for longer terms
would then be advisable. On the
other hand, if you believe that
inflation will be* rekindled, then
stay with short-term investments
such as money-market funds or
short-term certificates.
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Dundarrach, N.C.
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