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Pttt >. PLAI.NDKALKR-HKR Al.l). ^ KI»F.SI>A\ . JA>LAR\ 2. 1915 siness / Nation/World X First National promotes three forecasting, controlling DNNALIL F r.NVM PROEIITANT his rpsnonsihilitips AIV> rnm- for ̂ ovpr 3ft vears. 1 ./• C' f . • _ -Ronald L. Graves, President of the Firm National Bank of McHenry \ announced the promotions of Guenter 0. Scheel to Vice President, Neida p. Rechisky to Vice president and Cashier, and Virginia B. Orr to Assistant Vice President. Mr. Scheel began his banking career at First National in 1971. Scheel is a 1974 graduate of the National Installment Credit School at the University of Colorado at Boulder, and a 1976 graduate of the Illinois Bankers School at Southern Illinois University, Carbondale. Among his responsibilities are com­ mercial, real estate and in­ stallment lending. Mrs. Rechisky joined the bank in 1969, having worked at Continental Bank, Chicago, and Bank of Chicago. Neida is a 1975 graduate of Junior Bank Of­ ficers School at the University of Arkansas, Fayetteville. Over the years Neida has served on the McHenry Area Chamber of Commerce Board of Directors, many sub-committees, and currently serves as Chairman of The American Cancer Society- McHenry County. Neida has been a McHenry area resident forever 30 years. Mrs. Orr came to First National from Citizens National Bank in Waukegan in 1972. Virginia is a 1977 graduate of the National Installment Credit School held at the University of Colorado, Boulder. Virginia has been active in the Business and Professional Women of McHenry and served as its President in 1976-77. Mrs. Orr s responsibilities fall into all areas of lending with a specialty in home equity and consumer goods. > Virginia has been a McHenry resident jince 1969. economy fiMfltBf 8. ScM MMa I. Misty Virf iili I. BIT MLS marketing tool for brokers By Yvonne Beer Q. Hew does a Multiple Listing Service work and what are its advantages? A. A Multiple Listing Service (MLS) is a real estate marketing system offering many benefits to sellers while saving time for potential buyers. Typically, a MLS is operated by a Board of Realtors as a marketing tool for its par­ ticipating brokers. When a seller lists a home , an exclusive right-to-sell contract is signed with the listing broker, which includes the seller's authorization for the broker to use the Multiple Listing Service. By placing a listing in the MLS, the listing broker invites other MLS participants to cooperate with him to sell the listing. If another participant of the MLS sells tfce home, the listing broker pays him a share of the com­ mission received from the idler. The MLS gives wider exposure to the home and frequently results in a quicker sale. Hie listing broker fills out a detailed data sheet which in­ cludes price, physical characteristics of the house, status of the mortgages and miscellaneous comments. This information is input into the computer by the MLS Par­ ticipant and is available to all subscribers to the Multiple Listing Service. The multiple list gives wide exposure for sellers and permits buyers to request homes with desired features in a certain price range in specific neigh­ borhoods. Q. From time to time we notice solar collectors on rooftops. Just how economically feasible are these systems? A. At thjs point, solar collectors are not cheap. A full- scale hot water system costs approximately $4,000, but ad­ ding a space-heating capacity for even a small area can boost the cost to $10,000 or,mote With such expenditures, sHmfrsystem can be economical only with federal or state tax credits. This may be changing in the near future. Research shows that the costs of active solar heating systems , may be dramatically reduced with the use of airplane wing con­ struction techniques and high performance plastics. These reduce the weight load of a solar collector to only a half-pound per square foot and simplify installation. The weight is one- tenth that, of conventional heavy-duty solar panels and may cut the cost of a $4,000 hot water system to the range of $l,000to $1,200. A $10,000 system with some space heating capacity may be reduced to as little as $1,600. Some of these systems are expected to be on the market as early as spring 1985. If you have any questions relating to real estate, please send them | to the McHenry County Board of Realtors at 1065 Lake Ave., Woodstock, Illinois 60098. Unfortunately, the McHenry County Board cannot guarantee a response to all questions. By United Press International - * WASHINGTON -- Because in­ flation increased to a peak of 13 percent in each of the past two business cycle recoveries, economists have become condi­ tioned to predict that any strong growth in the economy will in­ evitably lead to higher inflation, higher interest rates, and hence another recession. In this twisted world, it is argued, low growth is to be prefer­ red over high growth because it will then lead to lower inflation, lower interest rates, and more sustained growth. However, the whole exercise has turned into an Alice-in-Wonderland fantasy with jam yesterday, jam tomorrow, but never jam today. N In any case, the myth that a slowdown would resucitate the financial markets has been rudely shattered as stock prices have failed to rebound on the news of lower interest rates -- and for a .very good reason: profits will be lower in the second half of 1984 than they were in the first half. In general, consumer goods companies will do better than' capital goods producers, but the superheated growth in profits of the past year and a half has clear­ ly come to an end. r, The rise in interest rates earlier this year that led to the slowdown was regrettably necessary to keep inflation from getting a toehold again, both domestically and in­ ternationally. , If rates had not firmed in the first half of the year, the dollar would have continued to plummet -- it did fall almost 10 percent in February and March -- and infla­ tion would have eventually in­ creased by the usual 4 percent that it rises during the course of the normal business cycle, pushing it to 8 percent at the next peak. "N However, the fact-that such tightening action was necessary is not at all the same thing as saying that it is good news. Another pathological strain of the forecasting profession that flourished in the hothouse at­ mosphere of the recent boom was the suggestion that interest rates don't matter any more. To a cer­ tain extent, this theory arose because the 8 percent average growth rate from 1983.2 through 1984.2 was almost twice as large as generally expected. However, it is a leap from the sublime to the ridiculous to argue that the economy did so well because of high interest rates; surely it did so in spite of them. The sources of this stimulus were (a) the personal income tax cut, (b) 13 percent growth in the money supply, and (c) the capital gaiift tax cut. On balance interest rates kept growth lower than it would otherwise have been, not higher. We are now beginning to see the effects of these higher interest rates in all major sectors of de­ mand. First and foremost, new orders in general and those for nondefense capital goodu in par­ ticular have declined significantly during the past three months; con­ struction contracts have done likewise. While these numbers are not a paragon of accuracy, a decline in nondefense capital goods news orders from $29 billion in May to $26.3 billion in August cannot be dismissed merely as a statistical fluke. This will translate into an actual decline in purchases of capital equipment in the middle of next year, before the beneficial effects of lower interest rates revitalizes this sector in the second half of 1985. The decline in new orders, hous­ ing starts, construction contacts, and planned inventory accumula­ tion will lead to a slower increase in the demand for labor, which im­ plies a moderate uptick in the unemployment rate from Its pre­ sent level of 7.4 percent to approx­ imately 7.7 percent by mid-1965. How will consumers react to all this? On the plus side, interest rates will come down. On the minus side, increases In real wages and salaries will be much smaller, with employee-hours in­ creasing at an annual rate of 2 percent instead of 4 percent over the past year and a half. Furthermore, the important psychological impact of lower unemployment rates on car sales and other big-ticket purchases will be removed. > ' ' 'i Fortunately, the much slower growth rate will be accompanied by a further decline in interest rates during the first quarter of 1985, which will come in addition to some further reductions over the next three months. v * , The Federal funds rate should decline to 10 percent by yearend, with the prime rate falling to 12 percent. Long-term bond yields will decline 50 to 75 basis points from present levels by the end of the year, which would put the 30- year government bond yield at about 11V4 percent. Get a headstart in your new town. Don't waste time wondering about a fast way to get your bearings. Call me, I'm with WELCOME WAGON. When you've just moved, you're pressed for time. And the gifts, community and business information I bring will save your family time and money. Let me hear from you soon. NANCY LAZAR . 344-3966 Owner named in fraud suit Attorney General Neil Har- tigan filed a consumer fraud suit in Livingston County Circuit Court against Dennis Herzog, owner of D&D Promotions, an advertising company. Herzog, formerly of Wonder Lake, allegedly solicited businesses in late summer in the Livingston County area, for advertising he claimed would appear on placemats to be produced in October. The suit alleges that Herzog never produced, nor intended to produce, the placemats, in violation of the state Consumer Fraud and Deceptive Business Practices Act. The Attorney General's office seeks restitution for defrauded business owners, civil penalties and an injunction to prevent Herzog from operating this type of business in Illinois. WASHINGTON OFFICE Galen Reser, director6 of legislation and projects for Sen. Charles H. Percy, has been named by Gov. James Thomp­ son to head the State of Illinois Office in Washington, D.C. Reser, 34/ will take over duties in the Washington Office* beginning Jan. 3, making $58,000 a year. « COMPIL McHENRY CHAMBER OF COMMERCE 385-4300 FAMILY SERVICE & MENTAL HEALTH CENTER 4302 G West Crystal Lake Rd McHenry, II60050 815-385-6400 TURNING POINT-DOMESTIC VIOLENCE STRESS LINE McHenry County 24 hours a day, 7 days a week Parents Anonymous meetings on Tuesday Call 815-338-8080 FEDERAL GOVERNMENT GENERAL SERVICES ADMINISTRATION 202-755-8660 Hours 7 30 a m to 5:30 p.m week days lEver had a problem involving the federal government and not known where to call? And then been given the funaround or referrals by persons who meani well but didn'i know how to help? Ten specialists available at this center I ' NATIONAL RUN-AWAY SWITCHBOARD Illinois Phone:800-972-6004 IFor confidential conversations on problems dealing with run away childrenl MOVING HOTLINE Phone 800-424-9213 (Complaints about interstate moving by companies, buses, or trains, Spon sored by Interstate Commerce Commission ! STATE CHAMBER GOVERNMENT REGULATIONS HOTLINE 217-522-5514 BIRTHRIGHT Pregnant? Need Help? Counseling Service 385-2999 24 hour Answering Service McHENRY COUNTY SENIOR CITIZENS COUNCIL 800-892-3272 Monday through Friday, 8 30 a.m. to 4 30 p m ILLINOIS«£PARTMENT OF V. CHILDREN AND FAMILY SERVICES 24 Hours CTtild Abuse Hotline TOLL FREE:800-252-2878 CONSUMER PRODUCT SAFETY COMMLSSTON 800-638-2666 (Operates five national lines Answers inquiries about or reporting on the safety of p'oducts from kitchen appliances to children's toys I , NATIONAL SOLAR HEATING AND COOLING INFORMATION CENTER 800-523-2929 P 0 Box 1607, Rockville, Md. 20650 (Dispenses information on solar systems for heating and cooling to anyone from architects to home owners looking for a sun powered hot-water sys'em.l 1 f - YOUTH SERVICE BUREAU FOR McHENRY COUNTY 4719 W. Elm St., McHenry Phone: 344-3240 24 houis Cusis Intervention and Confidential Counseling for youth'and families NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION Phone 800-424-9393 (Answers questions«boui automobile safety defects or whether a particular model has ever been recalled Valuable for those interested in buying a used rai I MENTAL HEALTH » 1 -800-892-8900 Crisis Center line for McHenry Co 24 hour Emergency number and professional stall will answer your call. Sponsoring agency McHenry County Comprehensive Mental Health Service System NAI lONAL NEIGHBORHOOD WATCH ASSOCIATION Post Office Bo* T7400, Washmnton, D C 20041 Phone(703)471-0404 ED AS A PUBLIC SERVICFTO McHENRY CONSUMER PROTECTION DIVISION 312-793-3580 Chicago, II ILLINOISSTATE CHAMBER HOTLINE Phone: 217-522-5514 Answer lo questions on government regulations. McHENRY COUNTY CETA OUTREACH CENTER 666 Russel Ct, Woodstock, II6009B Phone (815) 338-7100 ... _ Job Training Offered McHENRY COUNTY ASSOCIATION FOR THE RETARDED Robert 6. Lambourn, Executive Director • Phone:344-1230 ALCOHOLICS ANONYMOUS (815)455-3311 McHENRY TOWNSHIP DIAL-A-RIDE 385-5671 Monday ihru Friday B OIIA M 4 HHP M rail's HIi" $1 Im adults. fillCtcii senior aliens, h<tiiilii:a|i|ii!il and stiiiliMiis. children under 7 iirlini) with a payinq iidiili am free PRAIRIE STATE LEGAL SERVICES.INC. "• 800-942-3940 Free legal representation in civil cases to low income persons. Landlord tenant disputes, domestic violence or improper denial of benefits such as Social Security, Public Aid, Food Stamps, General Assistance & Unem ployment Insurance SUPPORT GROUP FOR MEN WHO BATTER Meets every Thursday 6 7 p.m. For information call 338-8080 COMPASSIONATE FRIENDS McHenry County ChapterlFor bereaved parents! • Call 385-5732 ,/v •y y/ffa* OH8, u'S V# iv- Special Store Hours Wad., Ian. 2 9 a.m. 'til 9 p.m. Rtgular Hours Mon.-Sat. 9-5:30 Thur».'til9 %• i-* IF k A > X \ ..50.%, ENTIRE STOCK BOTH STORES! Starts Wednesday, Jarw2 throughout January DON & LII'S CHILDHN'S SNOP 23 N. Williams ci7pc« Downtown Crystal Lake 815-459-4661 Infant & Toddler 4 . Girls 4 6X, 7-14, Preteen Boys 4-7,8-20, Husky featuring Juniors3-15 Missy 4-16 DOWNTOWN APPAREL COMPANY 53 North Williams 815-455-5225 ' f"