Hjanrlffatrr Mrralb WEST HARTFORD (Upl) — Coleco Industries Incv Manchester, Conn
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‘^0 MANVUKSTKH HKHAU) Tmsd.iy, Mjrch 12, m .> MANCHESTER FOCUS SPORTS WEATHER r—Manchester at Work AREA Ferguson a contender] I Mushrooms at school! I Pearson to coach Clouds continue B U S IN E S S for.DiRosa’s seat I I get a mixed review I I again somewhere through Tuesday TOWNS ... page 3 ... page 13 ... page 11 ... page 2 Coleco loss $79.8 million Bolton board due to Adam reviews plan HJanrlfFatrr Mrralb WEST HARTFORD (UPl) — Coleco Industries Incv Manchester, Conn. — A City of Village Charm has announced a'net Idss of $79.8 million for 1984 for rec, fire Wednesday, March 13, 1985 — Single copy: 259 stemming from its withdrawal from the home computer business and the disposition of its Adam inventory. Bv Sarah Passed The loss, $4.95 per share, compared with a 1983 loss Herald Reporter of $7.4 million, or 48 cents per share! Sales were up to Manager $774.9 million from $,596.5 million. BOLTON — The Board of Finance Monday Coleco reported a fourth quarter loss of $93.2 reviewed 1985-86 budget proposals for the Recreation Department and the volunteer fire department. million, or $5.77 per share, on sales of $240.9 million. backs plan The proposed fire budget of $38,750 — about $600 \ The company lost $35 million, or $2.19 per share, on higher than the current budget — drew little comment sales of $175.5 million in the last quarter of 1983 from finance board members. President Arnold C. Greenberg said Monday that And the propo.sed $25,831 recreation budget took for schools Coleco's working capital has been reduced by $26.5 n almost no criticism from the four finance officials who million to $81.3 million and net worth declined to $10.5 attended Monday’s budget workshop, evep though the Bv Alex GIrelll million. past financial practices of some sports programs \ Herald Reporter "Operating profit of $208.6 million from the toy have been the subject of controversy for the last Manchester General Manager segment of our business was more than offset by the month. The Board of Finance must approve spending plans By John lams Robert B. Weiss has recommended operating loss of $140 million" from the consumer for both the town and the Board of Education before United Prdss International that the town fully fund the Board electronics segment and a loss of $118.6 million the budgets are submitted to residents at a town of Education’s $25,258,546 budget associated with the disposition of the Adam computer. Meeting May 13. The finance board may cut budget MOSCOW — President Konstantin request for the 1985-86 fiscal year. Greenberg said. items for any individual department but may only Cheynenko, with a final kiss from his Iw Weiss has informed school board 3 Greenberg said sales of the company’s toy reduce the school spending plan at the bottom line. weeping wife, was buried today in an Chairman Leonard ^ a d e r of his products, led by the Cabbage Patch Kids dolls, Fire Marshal Peter Massolini made his- annual elaborate Red Square funeral presided decision to send the budget request exceeded $540 million in 1984 and major customers pitch for a higher salary Monday, arguing that the over by new .Soviet leader Mikhail intact to the Board of Directors Gorbachev., have indicated demand will increase this year. paperwork required of the job is extensive and that he without any reduction. has had to spend his own money for gas when betakes The body of Chernenko was interred In a letter released this morning, He said an extensive market study concluded that inspection trips. He has been fire marshal in Bolton behind I.cnin’s tomb alongside heroes Weiss said that as a result of his consumer demand is far from satisfied, with "a high for 35 years'. of the Soviet Union and other leaders, recommendation the Board of degree of interest in purchasing both additional Massolini asked for a $200 increase in his current including Leonid Brezhnev and Yuri Education will waive its right to a Cabbage Patch Kids and accessories.” $800 salary, but the Board of Selectmen has Andropov. second meeting with the Board of "Shipments of Cabbage Patch Kids products are recommended no change. Moments before the body was Directors on the budget request. lowered into the ground at 1:40 p.m. expected to exceed $150 million" in the first quarter, The Board of Fire Commissioners has asked for "That’s good news,” School (5:40 a.m. EST), Chernenko’s sobbing Superintendent James P. Kennedy Greenberg said. "With the heavy financial burden Herald photo by Tarquinio $9,525 to buy new equipment next year — about $425 more than it has in the current budget. Proposed widow Anna embraced her husband for said today when he learned of associated with Adam now behind us, we expect to John Lupacchino repairs a sewing Cheney Regional Vocational Technical purchases include radios, air packs, hose couplings, the last time as members of her family Weiss’s recommendation. ” 1 was achieve substantial profitability in the current machine at ABC Appliance and Repair, School, Lupacchino. who lives on Birch pants, boots and radio pagers. and the ruling Politburo looked on. hopeful, because our entire presen quarter." Center Street, where he has worked for Street, is now a senior at Cheney Tech. - Recreation Director Ronald Avery assured the Chernenko was eulogized by Gorba tation (to the board) was based on Greenberg also said the company has reached an finance board that all $11,000 in projected players’ chev, members of the Communist that theme.” agreement with its banking group to extend tbe two years while attending Howell fees would bc-turt^d in to the town in the next year, r Party and workers who stood atop Seader was unavailable for present credit facility through the endiof 1985. change froni past practices. Avery, who is also head of Lenin’s mausoleum. comment late this morning. Bolton Little League, last month told the Board of "As we bow our heads before you, our Last year Weiss recommended a Selectmen that he kept most Little League fees paid in dear friend and comrade in arms, we cut of $154,062 from the request for Cash reports missing the spring of 1984 for program expenses. pledge to follow unswervingly the the schools and the Board of And Hebron resident Karen Wheeler has said the course of our Lenini.st party," Gorba Directors followed the adult women’s softball program, which she heads, chev said in his funeral address. recommendation. Senators want answers from Boston bankers last year kept some of its fees for expenses. She said “ To serve its cause means to serve The spending plan adopted by she and other softball organizers thought former the people’s cause and we will fulfill the Board of Directors for the Recreation Director Gary Mortensen suggested the this duty to the end,” said the current fiscal year was $23,351,797. BOSTON (UPI) — Representatives currency shipments involving the reporting cash transactions over other banks in New England are also practice. 54-year-old who was named Monday as The new fiscal year begins July 1. from two of New England's largest bank. $10,000 Neither company was eligible being reviewed by grand juries investi But Mortensen last week said the adult men’s leader of the Soviet Communist Party. If the Board of Directors ap banks were summoned to Washington for the exemption. Vice President Robert Gordon said gating money laundering. They are the softball program collected donations from players to ’’Farewell dear Konstantin proved the budget recomihended today to tell a Senate subcommittee that in one case a customer at a branch Shawmut said last week that an Provident Institution for Savings in help pay softball expenses last year, as well as turning Ustinovich." by Weiss at the $25,258,546 figure, it why required reports were not filed on facility made several large cash internal audit turned up nearly $200 Boston and Greater Providence Dep in players’ fees to the town. Mortensen and Lawrence Spectators'held up dozens of 3-foot- would represent an 8.1 percent large cash transactions involving their withdrawals, but the bank did not million in unreported transactions by osit and Trust Co. in Rhode Island. Pesce ran the men’s softball program in 1984. high photographs of Chernenko as they increase over the budget adopted institutions. companies and organizations ineligible Mortensen said he meant to advise Wheeler that the quietly watched the ceremony. for this year. report the transactions. The government began requiring Bank of Boston and Shawmut were for the exemption , women’s teams could also collect extra donations — , The body of Chernenko, who died In his letter to Seader, Ijl^iss said Bank of3oston was fined $.500,000 last reports on large cash transactions 15 scheduled to appear before the Senate not to keep fees owed to the town. Sunday at the age of 73 after a 13-month he had not included the Board of month for failing to file reports of $1.2 Bank of Boston Chairman William L years ago in an effort to track money permanent investigation subcommit The proposed 1985-86 spending plan for recreation leadership beset by illness, was carried H e ra ld p>hoto b y T a rq u in io Education’s highest-priority capi tee to explain their failure to file the billion in overseas cash tranfers Brown and Shawmut President John P. from organized crime activities.