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THE JOURNAL RECORD, June 12, 1996 | Go to article overview

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Will they call it Moscow?

NEW YORK (AP) -- J.R., Sue Ellen and Cliff Barnes have long since faded from U.S. TV screens, but they're about to become stars in Russia. Dallas is going to be shown nightly on Russian TV starting in the fall. Advertising executives expect the show to be a big hit - - only five episodes have ever been shown in Russia, and they were very popular when they aired in 1991. The series will be shown on a private broadcasting company called CTC.

The facts on job growth

NEW YORK (Bloomberg) -- Companies with the best shareholder returns also have the fastest job growth, a study by the Conference Board found. By the same token, companies in lagging industries led the nation in job cuts, the study of Fortune 500 companies between 1991 and 1995 found.

Among industries with solid job gains in the period were banks, engineering and food and drug stores. Employment declines were found in aerospace, health care and petroleum industries. "Shrinking companies are generally found in shrinking industries facing deregulation, severe global competition and structural change," said Gail Fosler, chief economist of the Conference Board, in a statement.

Fosler said revenue growth was clearly linked to job growth, with the top 25 companies in revenue growth also among the top 50 companies in terms of employment growth. The board didn't disclose a list of the top and worst performing companies in terms of job growth and shareholder returns. The Conference Board said that three quarters of all massive job cuts occur for reasons other than corporate restructuring.

Price index drops

WASHINGTON -- Wholesale inflation retreated a bit in May as energy prices declined after two months of troubling gains. The good inflation news cheered financial markets but private economists warned of a possible interest rate increase by the Federal Reserve next month.

The Labor Department reported Tuesday that its producer price index declined 0.1 percent last month, a better-than-expected showing that triggered a rally in both stock and bond prices. The 30-year bond had climbed to 7.12 percent on Monday, the highest level in more than a year, as investors feared a big gain in jobs in May and other signs of economic rebound would force the Fed to raise interest rates.

Many private analysts said they were still expecting a rate hike at the Fed's next meeting on July 2-3, noting the central bank's past pre-emptive efforts to ward off inflation. "You can't do much better than we have been doing on the (producer price index), but that doesn't stop the Fed from worrying about inflation. They are focused on wages, and wages are starting to creep up," said Cynthia Latta, an economist at DRI-McGraw Hill Inc.

The government was scheduled to report the closely watched consumer price figure today. In advance, economists were predicting moderation at the retail level as well, reflecting lower energy prices. Many forecast a 0.3 percent rise in consumer prices in May, down from a 0.4 percent April advance.

Not all analysts agreed that the Fed will begin raising interest rates in July, which would be the first increase since February 1995. Bruce Steinberg, economist at Merrill Lynch in New York, said the benign producer price report "supports our minority view that the Fed will not tighten policy" next month.

Wholesale prices so far this year have been rising at an annual rate of 2.2 percent, little changed from a 2.1 percent increase for the first five months of 1995.

Showing your capabilities

NEW YORK (AP) -- Having a good resume is important, but what you're capable of doing may be more important than where you've worked, says Exec-U-Net, an executive employment firm based in Norwalk, Conn. Exec-U-Net says recruiters and companies are looking for people with skills like leadership, change management and team- building as much as they're looking for workers with long industry experience. …

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