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- The Daily Tar HeelThursday, October 1 2, 1 9895
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DTH Graphic
Local record store chain -sold
to European video company
By CRAIG ALLEN
Staff Writer
After nearly three decades of local
family ownership, Record Bar, Inc.
of Durham has been sold to Super
Club, Inc. of Antwerp, Belgium.
Barrie Bergman, president and
partial owner of Record Bar, came to
an agreement with Super Club last
week. A spokesman for Record bar
said the sale should be completed by
mid-November.
General Atlantic, Inc., aNew York
investment firm that has been a par
tial owner of Record Bar since 1987,
also agreed to sell its share to Super
ciub. h;p: .. .
The amount Super Club paid for
the audio retail chain was not dis
closed. Record Bar has been a locally
owned and operated company since
its beginning. Bergman's father,
Harry, opened the first Record Bar in
Durham in 1960, said company
spokesman Steve Bennett.
In 1 967, there were only two Rec
ord Bars, one in Durham and the
other in Chapel Hill. By 1985, the
Chamber to hold forum on business issues
By DAVID LLOYD
Staff Writer
In preparation for next month's town
elections, the Chapel Hill-Carrboro
Chamber of Commerce will hold a
forum Monday on local business issues
with candidates for the Chapel Hill
Town Council.
The forum will begin at 7 p.m. in the
Holiday Inn on U.S. 15-501.
The Chamber of Commerce, the
Downtown Chapel Hill Association,
the Chapel Hill Board of Realtors and
the DurhamOrange Home Builders
Association are sponsoring the event to
ensure that issues concerning local
businesses will be heard during the
campaign, according to Chamber of
Commerce members.
Six of the seven candidates for the
four at-large seats will be attending the
panel discussion. Julie Andresen, Joyce
Brown, David Pasquini, Bill Thorpe,
Helen Urquhart and Art Werner will
address the public forum, which will be
broadcast live by radio station WCHL
(1360 AM)
Candidate Allen Rimer is unable
to attend.
Carolina Students'
Credit Union Rates
30-89 Days
90-179 Days
180-269 Days
270-364 Days
365 Days
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 ,
Co-Signer
Travel
Hours: Mon.-Frl. 10 a.m.-3 p.m., Sat
CSCU is not affiliated with UNC-CH
2773.36
down 1 1 .97
Volume: 164 million shares
CLOSE CHANGE HIGH LOW WK.AGO
54 18 s 34 ;54 78 53 34 55 14
51 12 38 51 12 51 51 58
12 ,14. v 18 , .12 3 12 18 12
10 78 10 78 10 34 10 78
52, V,18 ' 52 38 52 34 52 14
96 913 920 927 104
Source: Edward D. Jones & Co., Chapel Hill
company owned more than 150 music
and video retail stores across the South
east. Although the company will have
new ownership, upper-level manage
ment at Record Bar will remain the
same. Bergman will continue in his
role as president of the company for the
next year at least, Bennett said.
When asked if the chain would
continue to grow, Bennett said, "It's
really early. We can't really tell. I would
say, if anything, we anticipate our
growth rate to increase."
For the past several years, Record
Bar has established 25 to 30 new stores
each year as a result of tremendous
growth through the '80s, Bennett said.
1988 sales totaled $1 10 million for the
audio chain, and sales for 1989 are
projected at $125 million.
Super Club, which Bennett said has
been a "European video rental giant" in
the last eight years, started a U.S. office
in Dallas in 1987. Since then, the
company has tried to acquire several
audio retail chains in this country in an
attempt to strengthen its foothold on
the U.S. home entertainment market.
Busniess Briefs
A panel of four will address ques
tions to the candidates and a modera
tor, Chris Cary of WCHL, will lead
the discussion. Panel members are
Daniel Fox of First Citizens Bank &
Trust Co., Gary Saleeby of Howard,
Perry & Walston Realtors, Jean
Holcomb of Viking Travel and Sally
Jessie of Marin Properties.
Fox said Tuesday the panel mem
bers were to meet Wednesday and
discuss the content of the questions
they would ask the candidates.
"Each of us will pose one question
due to time limits," Fox said. "I'm
obviously addressing the downtown
question."
CSCU offers loans for CompuFest
The Caroiina Student's Credit Un
ion (CSCU) is offering opportunities
for loans to students who need help in
paying the recent tuition increase or
buying a new computer, according to
Robin Pinckert, CSCU spokeswoman.
8.000 simple
8.0208.349
8.0358.366
8.0358.366
7.8958.214
11.00
14.00
16.00
12:30 p.m.-2 p.m. Phone: 962-CSCU
Source: CSCU
Downtown bar (has written!
dlre code forbiddDims black
By LLOYD LAGOS
Staff Writer
On The Hill, the downtown dance
bar which sparked controversy with its
last dress code, has posted a new, writ
ten dress code, according to the bar's
manager and owner.
Manager Sheila Brown said Tuesday
the bar had a posted dress code. "The
policy simply states that proper iden
tification and attire is required and no
black clothing is permitted," she said.
But owner John Hopkins said the
bar's bouncers would be enforcing the
ban on black clothing against those
dressed "differently." He said the pur
pose of the ban was to keep out people
who would offend the mainstream col
lege crowd he would like the bar to
attract.
"The doormen have been instructed
to turn away particularly non-mainstream
people who prefer to dress dif
ferently. Besides, since most of our
customers are mainstream, they would
probably feel uncomfortable anyways,"
he said.
Hopkins said the bar probably would
not turn anyone away who was wearing
only one article of black clothing, if
Record Bar recently began chang
ing the name and format of several of
its stores. The new stores, named
Tracks Superstores, offer a greater
number of compact discs and a re
duced selection of vinyl LPs.
This gradual change in format by
Record Bar may have somewhat in
fluenced Super Club's decision to
buy the company, Bennett said. But it
was Record Bar's audio expertise
that enticed Super Club.
"There has been a lot of interest in
the last two or three years in stores of
our kind," Bennett said. Record Bar
will give the European newcomer the
opportunity to expand quickly in the
U.S. home entertainment market, he
said.
Super Club is planning to establish
several "basic, one-stop entertain
ment superstores," Bennett said.
Bennett said Super Club recently
purchased more than 400 audio stores
in the U.S., a total that includes all
167 Record Bar stores, the Atlanta
based Turtles chain, and several
smaller chains in the Midwest.
The CSCU offers a direct billing
service for students who owe money
to the University.
After a loan is granted, the credit
union will pay a student's debt and
deduct the amount from the student's
account.
Co-signed loans of up to $3,000 are
available at an annual rate of 14 per
cent. Loan can be given without a co
signer at an annual rate of 1 6 percent. In
this case, the computers serve as collat
eral, Pinckert said.
Students interested in buying a
computer but are short on cash can take
advantage of CSCU's computer financ
ing service for students.
CSCU will have a booth at the
Compufest in the Great Hall Thursday
through Saturday to answer questions
about loan applications.
Unemployment figures down
The nation's unemployment rate fell
by two-tenths of 1 percent last month,
according to figures released Friday by
the Bureau of Labor Statistics in At
lanta. The national average fell from 5.3
percent in July to 5. 1 percent in Sep
tember, while North Carolina's rate
remained well below the national aver
age at 3.5 percent.
According to the latest available
figures for Chapel Hill, the town's rate
was 2.2 percent in July.
Sherry Powell, manager of commu
nity relations at the Chapel Hill
Carrboro Chamber of Commerce, said
Tuesday the presence of the University
helps keep the unemployment rate low
in Chapel Hill. "People really want to
come live here. They are willing to
take jobs lower than their education
just to live in the area," she said.
Jim Poole, a labor market analyst at
the Raleigh Labor Market Office, said
there were "help wanted" signs all over
the Triangle but the unemployed are
less likely to come to Chapel Hill than
larger cities for work.
"Unemployed people generally go to
the cities where there are usually more
opportunities, and Chapel Hill is by no
means a city," Poole said. "White-collar
workers generally remain in cities
where there are usually more opportunities."
"The doormen have been instructed to
turn away particularly non-mainstream
people who prefer to dress differently."
John Hopkins, owner of On The Hill
the person was dressed according to
the norm.
The bar's business has been very
strong since the new policy went into
effect, "There have been many com
plaints from our customers about the
way people are dressed," he said. "We
prefer a dress code that conforms to a
mainstream populace."
The bar began enforcing its first dress
code Sept. 26. The code was not written
down or posted and Brown said she did
not remember the exact words she used
to explain the code to the bar's boun
cers. A former employee of the bar said
the code was enacted to exclude homo
sexuals and people who wore alterna
tive styles of clothing.
Brown said the code was instituted
:edera
move to
By KEVIN GREENE
Staff Writer
Despite actions taken by the central
banks of the world's seven major in
dustrial nations, the U.S. dollar re
mained strong for the past two weeks,
which could force the Federal Reserve
Bank to cut U.S. interest rates in the
coming weeks, analysts said.
Investment managers and bond trad
ers predict that by year's end the Fed
eral Reserve will probably reduce short
term rates by one-fourth to one-half of
one percentage point.
The Federal Reserve may be forced
to cut interest rates in order to weaken
the strong American dollar. Analysts
say the relatively high level of the dol
lar threatens to undermine the four
year effort by the U.S., Japan and West
Germany to reduce the U.S. trade defi
cit to those countries.
According to UNC-Charlotte econo
mist John Connaughton, a trade imbal
ance has existed now for a number of
years.
The U.S. has been a debtor nation
since 1985, Connaughton said. This is
caused by a strong and rising dollar,
which makes U.S. exports more expen
sive and reduces the cost of imports to
American consumers. At the same time,
American consumers buy more imports
and fewer domestic products.
The strong dollar problem was ad
dressed in Washington Sept. 23 at a
meeting of the national banks of the
U.S., Canada, Japan, West Germany,
France, Britain and Italy.
The 'group issued a statement saying
the recent strengthening of the dollar is
"inconsistent with longer run economic
fundamentals." National bank repre
sentatives said they planned to sell off
American dollars in the foreign ex
change market in the near future in
order to weaken the dollar.
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for business reasons only and was not
meant to exclude homosexuals.
Todd Morman, WXYC station
manager, said there were no plans to
continue "XYC night" at the bar.
WXYC disc jockeys have played mu
sic at the bar on two previous occa
sions. "We played a more unusual mix of
music which included African dance,
Zouk music, acid house, and rap,"
Morman said. The bar's manager has
not asked the station for another XYC
night.
"The feeling around the station and
among the listeners that have voiced
their opinion is that we should no longer
do XYC nights," he said. "They have
insulted the kind of people that work as
well as listen to this radio station and
Reserve
weaken
1
UpdateC
Dollar
vs.
Yen
Worth of U.S. Dollar in Japanese Yen
146 ;
145
144
143
142 n n pi r
141 n
140 Jl if n n - .
138 .mHju
922 925 926 927 928
DTH Graphic
The week after the banks' meeting,
the dollar fell by more than six yen to an
exchange rate of 139.1 yen per dollar.
Although dollar sales have helped
keep the dollar weaker since the state
ment was issued, Connaughton said
adjustments in the interest rate may be
necessary to continue the trend.
West Germany's Bundesbank Cen
tral Bank raised its interest rates a full
the way they went about it seemed,
like a slap in the face to the very,
people who have kept them in busi-,
ness."
Hopkins said station personnel have,
not contacted him about haying an
other XYC night and the bar's musical
lineup has also been altered to satisfy
the "mainstream crowd."
'The bottom line is that they are
discriminating against gay men and:
people who choose to dress differently;
from the norm," said Chris Locklear, a
senior from St. Pauls. .;
"They have a legal right to do this:
since it's a private business, but their
reasoning cannot be business-related
because every time I have been there
the place has been packed."
But Locklear plans to continue
dancing there. "They are not going to
stop me from going," he said.
Kathleen Hester, a junior from
Charlotte, said the code was ridicu
lous. "A student could be welcome on
a Friday night wearing dressed in
green, purple, red or a horrible mix of
the three. Yet the same person dressed
in black could conceivably be denied
entry."
Baoks
dollar
OCT. 11
1 44.3
per one dollar U.S.
929 102 103 104105 106 109
Source: Wall Street Journal.
percentage point Oct. 5 to the highest
levels in that nation for the past seven
years.
North Carolina manufacturing
economy is an example of an eco
nomic system that exports more than
it imports. "The weakened American
dollar would be good for North Caro
lina's manufacturing industries," he
said. ;
Resume Drop Oct. 1 7
Open Sign Ups Nov. 1
6TH Graphic