All in the family

the Homer T. Hayward Lumber Co. chain by Jerry W. DeCou Jr. and Ralph Hagle Sr. This partnership operated until 1954 when the company was incorporated. At this time Jerry W. DeCou III joined the firm as

Story at a Glance

Third generation now at work with the second generation .. consistent company growth through expansion complete product lines and community service stressed as their market area grows.

a board member. In 1958 young Jerry bought out his father. In 1972 when Hagle died, the Hagle family stock w€rs purchased and the business became DeCou Lumber Co. in 1974.

The emphasis on family management has continued with each of the four DeCou children joining the firm. At one time all were working thereJay (Jerry IV), 28, Jeff,27, John,25, and Jeanine, 29. John has since left to go with the Dataline Corp., as a customer service representative for their computers, working with lumber companies.

The father emphasizes that the three children work for the lumber company's manager, Dave Walters, not him. "It is done this way on purpose," he says, "to prevent any problems that could occur from a father and his kids working together."

Jay and John both have bachelor degrees in business from Cal Poly San Luis Obispo. Jay started with the company in 1970. Jeanine Walters nee DeCou works in the bookkeeping department.

The company has grown and expanded consistently since its founding. Starting with a 16'by 16'buildlng located in a corner ofthe yard to serve as both an office and sales floor, it has expanded both in acreage and facilities. Today it includes a 60'x 80'

(Please turn to page 70)

Housing Slowing?

Despite rising interest rates, the current housingled economic recovery has enough momentum to endure for at least the next six months, according to panelists at the semi-annual residential construction forecast conference sponsored by the National Association of Home Builders.

But over the long term, economists warned, economic growth will subside, as soon as late this year and almost certainly by early 1985.

David M. Jones, senior vice president/economist, Aubrey G. Lanston and Co., Inc., called the next half year safe for the economy, but predicted it would begin "wobbling" before November, in time to turn the upcoming elections into a referendum on pocketbook issues.

As evidence that the deficit is out of control, Jones said that the federal government would be borrowing within the next several months two or three times as much as it borrows during normal recovery times and more than it ever has at this point in a recovery.

After reaching a peak of l39o this summer or autumn, Jones said the prime rate would fall to l2vlo in

December and ll9o in March 1985. He said 30 year Treasury rates would rise and fall similarly. He expects a peak 14.590 interest rate for conventional, fixed-rate mortgages would cool housing by the fourth quarter of this year or the first quarter of 1984. He said that mortgage rates would recede to 13-13.5qo by next March.

Timothy Howard, vice president/ chief economist, Federal National Mortgage Association, forecast only small increases in interest rates for the balance of the year, with real GNP growth averaging 3490. However, he predicted that interest rates would climb l-290 in 1985 and that housing starts would fall from 1.7 million in 1984 to 1.5 million next year, with an annual rate of 1.2-1.3 million by year's end.

NAHB projects 1.8 million starts in 1984, up nearly 690 from the 1.7 million homes started last year and more than 6490 from the less than l.l million units started in 1982.

Sears Adopts a New Look

A newconcept in retailing involving a complete renovation of many of their stores is underway by Sears, Roebuck and Co., one of the country's oldest and most conservative retailers.

A 25 year old Buena Park, Ca., store is one of the first being made into a "Store of the Future." Although more than 600 stores will be renovated, only abolt 22 will be upgraded in the West where the majority of the