^ !g)PiiiHip p jiji.i>jiipM ijg.g PAGE TWELVE-B - MANCHESTER EVENING HERALD. Manchester. Conn., Thurs.. May 4, 1978 Accounting rule causes chaos NEW YORK (UPI) - Like another well- foreign countries and simply offering their gain in operating profit to 11.36 million. known path, the road to accounting chaos technology and managerial know-how on a “The loss was purely on paper,” moaned often is paved with good intentions. consulting basis only. McCarthy. “It isn’t any good for tax purposm Take FASB 8, the rule that requires As the dollar weakened. FASB 8 became an and it doesn’t come out of anybody’s pockeUi, American companies to vaiue their foreign actual nightmare for some companies with but it makes us look awful to our stockholders obligations and some other results at current subsidiaries abroad, particularly smaller and this has been going on for about seven foreign exchange transiation prices. It was firms. quarters.” adopted by the Financial Accounting Stan­ For Instance, it forced Quality Inns Inc. of If Quality Inns were a bigger company and dards Board to keep big conglomerates from Silver Spring, Md., to sell a profitable motel at could get stories in the financial press with a manipulating forei^ currency translations in Ratingen near duesseldorf in Germany, which full explanation every quarter, it wouldn't M anrijf 0lpr lEtiPitmg Hpralb ^<4 order to make their profits look better and Quality had built only three years earlier. matter too much, McCarthy explained. A Family NEWSpaper Since 1881 perhaps bolster their stocks artificially. Quality Inns President Joseph W. McCarthy "But all we rate is three lines in’a table o f But Columbia University Professor said although the Ratingen motel actually was earnings with no adequate explanation, and we Single Copy 20 Cents Nathaniel Leff says FASB 8 has added new making money it showed paper losses under are small enough so that our stock is Vol. XCVII, No. 183 — Manchester, Conn., Friday, May 5, 1978 and vexing uncertainties to the bottom line for FASB 8 because its debt had to be constantly vulnerable and volatile and our image is really American corporations With large overseas "written up” as the dollar fell against the hurt.” operations. mark. The only way McCarthy could figure to cure Professor Leff says these uncertainties are In consequence, (Quality Inns had to report a the situation and be free to report hl's enough to make American companies consider loss of 81.7 million for the first half of fiscal operating results effectively was to sell the getting out of direct operations in some 1978 even though it actually had a 75.5 percent German motel. Inside today Washing board! Manchester Rate of jobless The agitator from a 10-year-old washing machine lives again as the heart of this product safety test mechanism for skateboards at the Plastics firm fined The 1977-78 and 1978-79 Manchester budgets are com­ F.W. Woolworth quality assurance laboratory in New York City. Joe for safety violation pared, department by depart­ Wos, design engineer, watches as skateboard is anchored to machine ment. See page 2A. for trial runs of 50 miles and 12 mph. While the agitator rattles and AUBURN, Maine (UPI) operation of the plant.” The Manchester High School falls to 6 percent He said he didn’t want to shakes the rear wheels and bearings, the front wheels make contact — An Auburn plastics drama club offers a mature per­ manufacturing plant has discuss specifics until the with a spinning cylinder. (UPI photo) formance of a comedy-drama. WASHINGTON (U P I)-T he been accused of 19 safety firm had a chance to Lei U» Help You Create A New fTay of Cooking; See page 3A. * cents more than April 1977. Average appeal, but that /"the nation’s unemployment rate weekly earnings increased 82.71 in violations and fined 820,400 The Park and Recreation Ad­ violations generally were the month to 8201.60. Insurance delegate in connection with a f : visory Conunission will maintain fell to its lowest level in SVz related to things OSHA felt Better weather in April con­ February explosion which residency rules for participation years in April as Vietnam War Stanley Bysiewicz, CLU, agent for Nationwide In­ existed prior to the tributed to a resurgence of new home killed a worker and injured COME AND TRY OUR in slow pitch softball. See page surance at 357 E. Center St., Manchester, was a delegate 60 other people. explosion” and "none dealt veterans and coal miners led a and apartment construction. 5,6 percent to the annual agents' advisory council April 25 to 27 at the A! 12A. blue-collar surge of one-half Employment in the construction in­ Pioneer Plastics Corp. with the way fumes were • FRESH VEGETABLfS •HOODIES •SPKES •TEA HARTFORD (UPI) company's home office in Columbus. said it would appeal some handled after the million people landing jobs, the dustry climbed by 175,000 workers. • EQQ ROLLm k I WONTON WRAPPERS East Hartford Unemployment in Connecticut Bysiewicz and 10 other agent-delegates from of the charges contained in explosion.” Labor Department reported Despite their jobless rate falling to a dropped by 7,000 to 88,600 from Nationwide's national agency force of 4,500 men and a formal,'19-count citation Most of those injured in­ Marcella Fahey says she really today. four-year low, one of every 10 con­ February to March, or 5.9 percent women met for three days with top corporate manage­ from the federal Oc­ haled fumes that remained We Have Oriental Cooking Utensils, Woks, Electric Woks, doesn’t know why she beat George The 6 percent unemployment rate struction workers was unemployed to 5.6 percent, the state Labor ment. They discussed topical matters relating to cupational Safety and in the plant after the blast; Hannon Jr. But she tries to last month. Department says. marketing, service, consumer relations, and general last month was the lowest since Oc­ Overall, the department said, Health Administration’s Saunders said Pioneer and Lots of Cook Books to Show You How. explain It. See page 10A. ’The department said Thursday economic trends. tober 1974 when it was 5.9 percent. ‘‘blue-collar workers paced the over- regional office in Concord, "felt in many cases Veterans Terrace tenants meet that personal income in the state Bysiewicz, who was first licensed as a Nationwide perhaps there’s some ad­ The jobless rate stood at 6.2 percent the-month employment (tain.” N.H. ALSO AVAILABLE - A LOVELY UNE OF GIFTS ■ STATUES, DOLLS, JEW ELSY, Nick Giamalis, their landlord. in February. increased from $20.4 billion in agent in 1946, was elected a delegate by the 245 agents Joseph N. Bergeron, 66, ditional information they The jobless rate for all blue-collar BOXES, BARKS, NECKUCE AND EABBING SEIS. See page lOA. The department said 535,000 March 1977 to $22.17 billion in who represent the company in New England. It was his of Auburn, died Feb. 27 (OSHA) did not uncover in workers d^lined from 7.1 percent in March of this year. second year on the advisory council. their investigation. Some workers got jobs in April to swell the March to 6.5 percent. For white- when the chemical vat he Connecticut employment ranks to 93.8 million. Em ploym ent incrased by Nationwide started its agents’ advisory council was tending at the Pioneer of the charges we don’t collar workers the rate increased almost 10,000 from February to program in .1956 to foster two-way communications The state has decided to make The number of unemployed fell 165,- plant exploded "like a have any argument with, 000 to 6 million. slightly, from 3.4 to 3.5 percent. All March, the department said. between management and the agency force. The con­ public the salaries of legislative the white-collar attrition was at the pressure cooker,” but some we want to try to The “reduction in unemployment ference" in Columbus climaxed annual meetings of change.” GvooovSlofe&Gifto 4 employees rather than fight the clerical level. witnesses said. occurred exclusively among adult Nationwide agents on district, sales region, and regional Sixty people, including Pioneer will request an I TALTYM Freedom of Information Ckimmis- men, as women and teen-agers Stanley ByHiewicz levels. Auburn’s mayor, police informal conference with 2858 MAIN STREET, GLASTONBURY sion. See page 11 A. and fire chiefs, were OSHA to discuss the Gov. Grasso is trying to make showed little movement,” the hospitalized after inhaling citations, Saunders said. peace in a dispute over housing department disclosed. Among males, Spain parliament legislation. See page 9A. veterans who served during the Viet­ Joins vet clinic toxic fumes at the plant, nam War era continued their year­ th e c i t y ’s la r g e s t The nation long gains. Dr Patricia Meyer has become associated with the employer, and more than The jobless rate for these veterans mulls constitution Manchester Veterinary Clinic on Spencer Street in 140 others were examined A tornado smashed into a was 7.6 percent a year ago compared for possible injuries from Florida elementary school Manchester. with 7.5 percent for nonveterans. MADRID, Spain (UPI) - The Parliamentary debate is expected to She received her Doctor of Veterinary Medicine degree inhaling the fumes. -Thursday, killing two children and Sandra Bellone of 40F Channing Drive and Paul Turek of 16F Last month, the jobless rate for Viet­ Cortes (parliament) opened debate be finished sometime in summer, from Michigan State University in 1967 and has practiced OSHA Acting Regional TECH SiTEREO injuring nearly 100 others.