Furniturc Manufactur"'etri, Millwork Shops, Gbinet Shops

MAINOFFICE

2150 Oakdale Ave. San Francisco, Ca. (4151647.0782

Berkeley, Ca. (4r5) 843-4390

COiIPANY

Montebello, Ca. Complete millwork facilities (213) 723.330r

Ca. Wats l-(800)-325 -217 O

Salt Lake City, Utah (80r) 484-7616

Edinburgh,IndianaConcentration Yard & Dry Kilns - (812) 526-9743 and Millwork Facilities

Domestic Hardwoods - Featuring Northern Red Oak, Indiana White Oak, Walnut

Imported Hardwoodswith special attention to...

Genuine Mahogany. Teak o Rosewoods o Bocote o Apitong o Zebrawood

Rare exotic hardwoods

LTL, TL, Mixed TL, and Carload Shipments out Specialty

Huntinston Beach, Ca.92649 (213) 594'8731 (714) 898-0433

A s DEFINED by webster's ll Dictionary, efficiency is the quality or degree of being efficient, i.e., efficient operation.

The U.S. economy may very well be dependent on how government takes the lead in improv- ing the efficiency and productivity of the nation. The coming year could be the benchmark period for spending reform. This could create a window of short term gloom from which the light of a long term picture of economic strength can emerge.

Early in 1987, I would expect retail sales to be rather flat as the economy will be sluggish and inflation should not be a factor. Consumers continue to get little good news and consumer confidence should not be greatly improved.

I see little economic improvement until we begin to solve our country's largest economic problem, the continued expansion of the budget deficit. The new tax reform will not have the desired impact on the nation's confidence