Heard on the Street

TASTES LIKE CHICKEN. The cost of living is getting lower in Springfield, according to the city's Planning and Development Department. It just released its quarterly "Springfield's Economy Today." The report reveals a basket of common goods (chicken, cereal, vegetables and other groceries) has decreased 2.8 percent when comparing second quarter 1999 prices to the same items in the third quarter of 1998. Monthly expenses, which compare such things as gasoline, entertainment, rent and doctor's office visits, declined 0.05 percent comparing the same periods.

DOCK DOCKET. Splendor Pointe Resort on Table Rock Lake wants to expand its dock to 20 slips from its current eight slips. The U.S. Army Corps of Engineers is considering the request. The corps said the applicant seeks the expansion to accommodate increased demand anticipated by Splendor Pointe as it constructs its resort near U.S. Highway 86. The dock would be used for registered overnight guests as well as those who arrive in a boat to eat at the resort's restaurant.

SO LONG, JOLIET. John Q. Hammons Hotels Inc. has sold its Holiday Inn Express Hotel and Conference Center in Joliet, Ill. "The sale ... reflects our efforts to improve the overall performance of our portfolio of hotels by providing the finest collection of full-service, upscale hotels located in growth markets," said John Q. Hammons, chairman and chief executive officer of John Q. Hammons Hotels Inc., in a release. With the sale and the opening of four new properties this year and next, the average age of Hammons properties will continue to decline. "By early 2000, the average age of our portfolio of hotels will be less than seven years," Hammons said.

MANUFACTURE AN AWARD. The Springfield Area Chamber of Commerce is accepting applications for its 1999 Manufacturer of the Year. Applications are available from the chamber's Sonja Chasteen by calling 862-5567 or via e-mail at sonja@springfieldchamber.com. The winner of this year's award will be announced at a Dec. 8 luncheon.

TROUBLE SAVER. For those of you who've been following the disappearing act of Martin Frankel in the Wall Street Journal (The money manager apparently made off with up to $250 million in money from insurance companies he controlled when he vanished from his home in May. One of the firms was registered in Missouri.), Doug Wilburn wants you to know he could have warned you. Wilburn is securities commissioner in the Missouri Secretary of State's Office. In a recent release he said a call to the Investor Hotline of the Secretary of State's Office would have turned up Frankel's murky past. The query would have resulted in a search of the Central Registration Depository and revealed that Frankel had not been licensed to sell securities for more than 10 years and had a history of defrauding investors. The Securities and Exchange Commission barred Frankel from the securities industry in 1992.

INCLUSIVE. The Society of Financial Service Professionals, with more than 200 chapters and 32,000 members in the nation, has opened its membership beyond certified life underwriters and chartered financial consultants. Now certified financial planners, certified public accountants and attorneys will be eligible to join. "The society's tradition of excellence in professional development, high ethical standards and financial consumer outreach will be strengthened by the addition of these professionals," said Beverly L. Brooks, the society's president, in a release.

ANNIVERSARY. Having just completed our own anniversary celebration (see July 19-25 SBJ for reference), another comes to our attention. American Detection Specialists Inc. began business July 24, 1989. President Jim Morris owns the company with his wife Rendy Morris. The company provides life-safety systems that include intruder alarms, fire alarms, medical alert systems and other safety equipment. Jim Morris said that in the 10 years the company has been in business, its services have come to be viewed as ubiquitous as plumbing and heating and air conditioning.

SLICE OF NICE. The Boys and Girls Club of Springfield, in collaboration with Ozarks Public Television, will again sponsor "First Book." In its second year, the program distributes one book a month to participating students. Books are ordered to fit the appropriate reading level and interests of the students. "First Book" is funded by the Boys and Girls Club of Springfield's Ladies Auxiliary, which raises money with spring and fall salad luncheons. For more information on the program and how to help, call Randy Carpenter, director of operations, 862-9249.

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