Arizona Republic from Phoenix, Arizona • Page 33

yryi fTjn Thursday, July 1, 1982 1 lie Arizona ltepuoiic REPUBLIC LUXURY TCOTOlfeE at Flagstaff Conlincnlal Country Club Landlords must be compensated for cable-TV hookup, court rules On the Golf Course with magnificent view of San Francisco Peaks and Lake Elaine. Open floor plan with vaulted ceiling, wet bar, stone fireplace. Luxury appointments 1 .1 from 1 completely furnished. i juf -if. Full Country Club priviledges included.

British firm buys half of Fiesta nail Republic Wire Services Sears, Roebuck and Co. announced Wednesday that Grosvenor International, in partnership with a number of major British pension funds, has purchased a 50 percent interest in Fiesta Mall in Mesa for an undisclosed amount. Edward R. Telling, chairman and chief executive officer of Sears, said in Chicago that Homart Development Co. will continue to manage Fiesta Mall under the terms of the partnership agreement.

Homart is part of Sears' Coldwell Banker Real Estate Group. Fiesta Mall, which opened in 1979, was developed and is owned and operated by Homart. The mall contains about 921,000 square feet of retail space on two levels. Sears, Goldwaters, the Broadway and Diamonds anchor the center. Grosvenor International is a private company whose shares are held directly or indirectly by several trusts.

Grosvenor International has been acquiring prime commercial real estate in the Midwest, Southwest and on the West Coast. Shown by appointment only. 835-6893 Continental. Income horns. Associated Press WASHINGTON Fair compensation must be made to apartment owners whose property is subject to the installation of coaxial cables and related cable-TV equipment, the Supreme Court ruled Wednesday.

The court, by a 6-3 vote, said states cannot force apartment owners to allow cables and equipment on their buildings for little or no payment. In Phoenix, Terry Parker, the city's cable-TV coordinator, said that in Arizona, cable-laying rules may be enforced only in rights of way. She said cities have no authority over cable companies dealing with owners of private property. The installation on rooftops and along the sides of buildings constitutes a property infringement known as a "taking" for which fair compensation is required, the Supreme Court decided. The justices thus struck down a 1973 New York law permitting such installations for little or no payment.

The installations allow cable companies to serve a general area, in addition to the specific building on which the equipment is placed. "We affirm the traditional rule that a permanent physical occupation of property is a taking," Justice Thurgood Marshall wrote for the court. "In such a case, the property owner entertains a historically rooted expectation of compensation, and the character of the invasion is qualitatively more intrusive than perhaps any other category of property regulation." Marshall said lower courts would have to determine how much compensation should be awarded for the installation. The New York law also barred property owners from interfering with the equipment on their rooftops. Wednesday's ruling was in favor of a group of property owners who had sued the Teleprompter Corp.

and one of its cable-TV subsidiaries. The New York law had provided that installation of the equipment had to be reasonable and also said that the state's cable-TV commission could set reasonable compensation levels. The commission in 1976 set that compensation at a one-time payment of only $1. The New York Court of Appeals, the state's highest court, interpreted the law to mean that in some cases no payment was required. Joining Marshall in the majority were Chief Justice Warren Burger and Justices Lewis Powell, William Rehnquist, John Stevens and Sandra O'Connor.

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Upturn over. We have said for several months it would end in the second quarter. We think May was the tough month and the economy began to rise in June." Continued from Cl If you're serious about rates. Call us. Savings Rate Line 2344)534 Special Schedule (6 Days) July 6th 9,00 A.M.

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(602) 265-5731 Other economists were more cautious in their assessments. "These numbers are fundamentally consistent with what we expect," said forecaster Lawrence Chimerine, head of Chase Econometrics. "Namely, that the economy is now bottoming out and a modest improvement will occur in the second half of the year." Donald Straszheim, chief economist at Wharton Econometrics, said, "Our general view is that the recession is REAL ESTATE SCHOOL, INC. 2095 E. Camelback Rd.

956-3050 Chimerine and Straszheim said the 10 percent cut in individual-income-tax rates that takes effect today will aid recovery. Both also believe business is nearing the end of a drawdown in inventories, which means it must increase production. The economists questioned whether any recovery could be strong as long as interest rates remain at high levels. Short-term interest rates have started rising in recent weeks. UNITED BANK l' AIUZONA MiMiiDi'i OIC Boeing Continued from Cl "oflU after Boeing falsely certified there were no irregular commissions.

Boeing sold three aircraft to Middle East Airlines in 1974 for $101 million and paid $3.6 million in commissions to a Liechtenstein corporation at the request of Asad Nasr, the airline's general manager, the government said. Boeing certified the sale to the Ex-Im Bank, which financed 28 percent of the contract price, and failed to disclose the $3.6 million in "irregular commissions to an irregular sales agent," the government said. That same year, the government said, Boeing sold two aircraft to Corde, the government-owned airline of the Dominican Republic, for $15 million. It said Boeing paid $30,000 in commissions. The Ex-Im Bank financed about 45 percent of the total contract price, the government said.

WILM veyouiL In 1973 and 1974, the government said, Boeing negotiated a $221 million sale of 29 aircraft with Iberia Airlines, the Spanish carrier. Under a financing arrangement, the Ex-Im Bank agreed to lend Iberia 40 percent of the cost. The government said Boeing falsely certified that it had not paid any commission other than a regular fee when, in fact, the total price for Iberia included $3.36 million for "undisclosed and irregular commissions." In 1974, Boeing sold an aircraft for $7.2 million to Servicio Aero de Honduras and paid $350,000 to the general manager of the airline. The government said the Ex-Im Bank financed 45 percent of the purchase sworn proa 9 seeking to improve digital-information system Associated Press WASHINGTON The American Telephone Telegraph Co. asked permission Wednesday to expand and improve its high-speed transmission network for digital information.

The new service, to be known as Terrestrial Digital Service, would be aimed primarily at high-volume business customers who need to transmit large amounts of information, particularly into and out of computers. The company filed a new rate schedule for the service with the Federal Communications Commission and asked to begin offering it Sept. 28. The new service will be available in most areas of the country and will guarantee accuracy of no more than one error in every million bits of information, said. t.

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