SS

ss _ Castlegar News

May 8, 1985

BUSINESS

PCjr discontinued?

By MIKE FUHRMANN
The Canadian Press
Has the IBM PCjr joined that growing family of
high-tech products known as orphans?

Nope, says IBM, which has apparently been stung by
media reports about its decision to stop manufacturing the
PCjr. The company has taken out newspaper ads carrying a
quotation for Mark Twain: “The reports of my death are
greatly exaggerated.”

The ads say that far from abandoning its smallest
offspring, IBM plans to continue to provide parts and service
for the PCjr, and will still develop software for it and sell
hardware options that have already been announced.

“So if you are buying a PCjr, or already own one, you

family.
What the ads don't say, however, is that IBM has no
plans to resume production of the machine, and that
ft fs — who supply the vast

can be sure it still is a well-cared for member of the IBM PC

majority of programs for personal computers — have
already started to shift their attention to other machines.
ALL TOO FAMILIAR

The scenario is a familiar one in the computer industry:
a product is launched with great fanfare, sells poorly despite
costly marketing efforts, is yanked from the production line
and finally abandoned by others in the industry.

IBM, meanwhile, must sell its inventory of PCjrs. But at
a time when consumers have little enthusiasm for the entire

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home Pp market, selling the discontinued PCjr may
be difficult, several retailers say. It will probably require big
price cuts.

“Not a lot of people want to buy a computer that's not
being manufactured any more,” said Mark Taylor, a
salesman at a Toronto computer dealer.

IBM's troubles affect both ends of its product line, its
smallest computer — the discontinued PCjr — and its
biggest. The company's new multimillion-dollar Sierra

's won't be i before Ni ber, and many
firms are waiting until they can assess the new machines
before ordering their next big IBM computer. As a result,
earnings for the company are down.

IBM still made close to $1 billion in its latest quarter — a

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profit few would lain about — but that was

down 18 per cent from a year ago. It was IBM's first profit

decline in more than three years. The high value of the U.S.

dollar also hurt IBM's earnings outside the United States.
OTHERS SUFFER

Other computer companies are also having their
troubles, plagued especially by weak demand and falling
prices.

Kaypro Corp., maker of a line of inexpensive portable
computers, suffered a 98-per-cent drop in its latest quarterly
profit to $84,000 from $4 million a year ago. Analysts say
Kaypro’'s older computers are losing their price advantage
against similar machines. Kaypro, based in California,
recently i a i with the IBM
PC-AT, but priced below the IBM model.

Profit at Tandy Corp., maker of Radio Shack computers,
is also down from last year. The Texas-based company
recently reported a quarterly profit of $22 million, 58 per
cent less than a year ago.

Price cuts foreed by competitors have been part of the
problem. As well, the company wrote down the value of
computer inventory by $18 million, mostly relating to the
Tandy 2000 and parts for that machine. The non-IBM
C i » which was di in 1983 and has

not sold well, is now being aimed at specialized markets
rather than the mass market, the company says.

And Commodore International Ltd., whose machines
have dominated the home market and créated big profits for
the company in the past, reported a $21-million loss in its
latest quarter, compared with a $36-million profit at the
same time last year.

Hospital
budgets
late

VICTORIA (CP) — The
provincial Health Ministry is
mailing new budgets out to
B.C. hospitals this week,
more than one month after
hospitals began their new
fiseal year.

Health Minister Jim Niel
sen says hospitals will re
ceive “an adequate amount”

of money in the budgets.

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lacocca: a

NEW YORK (AP) — Lee Iacocea may be a folk hero
to readers of his autobiography, now leading many
best-seller lists, but at best he is just another
businessman among his peers in corporate America.

That assessment comes from Prof. Eugene Jennings,
who believes Iacocca has much more distance to cover
before he joins the ranks of business greats. And he fears
the Chrysler chairman's ego might prevent him from
getting there. ;

Already, he says, executives are commenting

Douglas MacArthur, George Steinbrenner of the N.Y.
Yankees, and Occidental Petroleum chairman Armand
Hammer, among others — that finds it almost impossible
to adapt to legitimate authority.

Many other people managed to advance under Ford,
he says, among them Donald Petersen, Ford Motor
president and an executive who, he says, had a business
approach as different from Ford's as was lacocca’s. -

“Petersen knew how to survive without the vitriolic
fighting that marked the Iacocca-Ford relationship,” said
Jenni who i that Ford Motor, now may

critically on Iacocea’s breach of an i of
corporate behavior, which is to neither complain nor
explain when fired. Fired by Henry Ford II years ago,
Iacocea uses his autobiography to paint his former boss as
an ogre.

By remaining silent in spite of what many see as a
personal vendetta against him, Ford has upheld the
corporate credo and won the admiration of many of his
peers, says Jennings, Pp at Michi;
State University.

become a model for the industry, even ahead of General
Motors.

Jennings also says other executives have performed
as well or better than Iacocca in saving major
corporations, among them David Roderick of U.S. Steel
and Donald Lennox of International Harvester. And, he

adds, “done so without federal loan guarantees and an
umbrella of trade embargoes.”

Jennings says ego can be both strength and

Some of those same says J gs, are
now breaking their silence and speaking openly of “what
could be Iacocca's fatal weakness — his Caesar-like ego,”
a characteristic that “allows for no humility.”

Jennings, who says he has spent 30 years helping
corporate chairmen substitute intelligent action for the
traps of egocentricity, and who has studied and written
about leadership back to ancient times, maintains that
Iacocea: An Autobiography, presents an unfair portrayal
of events.

“Iacocea would have been fired from any company
the closer he came to the top,” says Jennings, who
contends that Iacocca did not by himself do all that he
claims, and that Ford is hardly the ogre he is made out to
be.

CAN'T ADAPT
“Caesar cannot be No. 2,” Jennings says, asserting
that Iacocca represents an archetype — along with

allowing to attract toa
cause, but also causing the executives to prove
themselves over and over. He sees such people as
“spending a lifetime on a treadmill.”

More important to others, he says, is the tendency of
the Caesar archetype to allow ego to impede judgment.

Iacocea, he points out, sued General Motors for
linking up with Toyota to produce cars “while setting up @
similar arrangement with Mitsubishi.” And he faults the
Chrysler chairman for taking time to write his
autobiography while, he says, the U.S. auto industry
struggles to survive.

“Many men of great achievement have had severe
and unfair trials of character but most have become
stronger and grown to fit the American ideal of a hero,”
says Jennings.

And what is that? A person, said Jennings, whose
bearing combines power and modesty.

EN Sek

Frank's

By KEN SMITH

TORONTO (CP) — Economists have an unusual
sense of humor.

But it exists, says Jim Frank, new vice-president and
chief ist with the Ott: bs Board
of Canada. Even though it might show up in strange
ways.

For example, he says, some economists have been
known to chuckle quietly to themselves as they shifted
the decimal figure in projections of Canada's real growth
during the next two or three years to, say, 2.8 per cent
instead of 2.7 per cent.

Can anyone really be that precise?

“Of course not,” snaps Frank. So they poke their own
in-house fun at the demands for perfect forecasting.

SPOT TRENDS

“What economists today can do is identify trends,”
Frank says.

“Back in the 1960s, everything was moving in a
measured order. We didn’t have the ups and downs that
we've experienced lately. So economists have brought a
lot of flak on themselves by trying to be too precise.

“Because economic trends were so easy to project
back in the ‘60s — all you had to do was to carry the
growth line forward — people assumed economists had
some, I don't know, magic powers.

“But then early in the 1970s OPEC came along with
its (oil) price increases and all those forecasts went out
the window.”

What have economists learned from that lesson?

“Well,” says Frank with a grin, “we're a lot more
careful now in making sure we offer the background and
assumptions on which we base our projections.

“Let's say we come out and forecast an increase of X
per cent in exports. That'll be hedged by saying it

a joker

depends on the level of the Canadian dollar, the United
States not imposing any trade restrictions — you name
it.”

GO FOR FIGURES

One trouble, he says, is the public and the media pay
little if any attention to such hedging, jumping instead on
the big figures.

The conference board may be a bit sensitive these
days to criticisms about its economic projections, since it
has been consistently more pessimistic in recent years
than many other economic and financial authorities.

It has also, however, been generally accurate.

“In a stable situation, such as we had back in the
1960s, it was pretty easy to analyse the data,” says
Frank.

“Then, all of a sudden we had our main-line
computers to play with, so we could set up models of the
economy to see what would happen if such-and-such
developed.

“Because of that, economists could claim projection
results without being really tested.

“It wasn't until those tests were forced on us, by
OPEC and the resulting strains, that we really became
aware of the difficulties.

“It's easy to project growth or decline on a straight
line when your basic conditions don't change.

“But there's no way an economist, or anyone else,
can foresee the impact of outside events, such as a freeze
of the Florida citrus crop, or politics in the OPEC
countries or Iran.

“What it means is that an economist has to be
plugged in to judgment calls, as well as basing them on
technology.

“It makes it,” Frank says drily, “a bit tougher.”

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WASHINGTON (AP)
Corporations benefitting
from the 1981 tax cuts push
ed by President Ronald Rea
gan paid the lowest tax rates
in more than 50 years on
their profits in 1984, a Con.

gressional Budget Office
study says.
But the report, which

called the U.S.'s corporate
tax system “seriously defi
cient” in raising revenue
simply, fairly and efficiently,
said benefits of the 1981 re.
ductions are washing away

The study concluded that
by the decade's end, tax
increases approved by
Congress and Reagan in 1982
and 1984 will have wiped out
effects of the three-year bus.
iness tax cuts enacted in
1981.

The 200-page report was
released by Representative
Jim Jones (D-Okla.) amid
growing discussion of over
hauling both corporate and
personal income taxes.

TOUGHEN TAXES

Last week, the Senate
overwhelmingly passed a res
olution calling for tough
minimum taxes on both busi
nesses and individuals.

cylinder
price of only $28.99

ide

By CasNews Staff

Pega Ren's photograph
of a cart of apples on a
frosty morning captured
first place in the City of
Castlegar’s Venture Inland
photo contest.

Ren's photograph was
entered in the scenics and
gityscapes category. Ren,
who lives in Slocan, wins a
table top gas barbecue.

Winner of the people and
lifestyles category were
Dwayne and Judy Keus of
Catlegar. Their shot was of
two children sitting on a

CONTEST «++ Winning ph ph:
City of Castlegar’s Venture inland photo
are: (top) Pega Rens first-place photo in the scenic

in the
contest

Contest

park bench at Zuckerberg
Island, Park. The husband
and wife team wins a $50
film processing gift certi-
ficate.

Tim Keraiff of Castlegar
took top spot in the in-
dustry and transportation
category. The photograph
of Keenleyside Dam wins
Keraiff a full-color coffee
table book of B.C. entitled
This Favoured Land.

As well, the 14 parti
cipants who submitted
more than 100 slides will
receive a complimentary

category, (bottom left) lifestyles winner by Dwayne
and Judy Keus and winning industrial shot taken by
Tim Keraiff.

winners

film or gift certificate for
film processing.

The three winning slides
now will be judged at the
regional level. All the
slides in the contest may
be used in the Venture
Inland publicity campaign.

Jeremy Addington, a
Selkirk College photogra-
phy instructor and chair-
man of the eight-member
panel of judges, said the
judges were “disappoint-
ed” with the lack of entries
in the people and lifestyles
category.

However, he blamed
that on the timing of the
contest, which gave parti-
cipants little time to get
out and take photographs.

Meanwhile, Mayor Aud-
rey Moore called the con-
test “an excellent exper-

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fence for the
and she suggested the city
may make the contest an
annual event.

“It was a very worth-
while project,” Moore said,
noting, “I was very pleased
with the response to the
photo contest.”

Casfegar accepts the challenge

Is Castlegar the fittest
community in British Colum-
bia or in Canada? We'll find
out later this month.

Castlegar has accepted the
participaction challenge and
on May 29 will be competing
against other communities
across Canada to determine
the fittest community.

Last year in the city's first
effort, Castlegar ranked
eighth in B.C. and 25th in

Canada. “This year it is an
ticipated that we will im
prove upon that record,” ree-
reation director Pat Metge
said in a prepared release.
The idea of the participac
tion is for communities to re-
cord the number of individu-
als who actively participate
in 15 minutes of continuous
exercise on that date, Metge
said. The exercise can be of
any nature as long as it
makes your heart beat faster.

Persons completing their
exercise can contact the
recreatiog office and be offi-
cially recorded.

Last year the recreation
office received calls from
individuals who went for a
walk, ran, swam, biked, gar
dened and did housework.

“As long as you are physi-
cally active you will be a part
of the challenge,” Metge
noted.

Once again this year, the
recreation department will
be hosting a number of ac-
tivities to give persons the
opportunity to join in a group
activity. Fitness classes will
be held at the complex in the
morning and evening.

A community walk start-
ing at the complex at 8 a.m.
will kick off the scheduled ac-
tivities. And other activities
are being planned, says
Metge.

See the Castlegar News
of Sunday, May 12 for

your Travel Planner

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