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May 30, 2003     Cape Gazette
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May 30, 2003

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BtrS00NESS & CAPE GAZETTE, Friday, May 30 - June 5, 2003 - 27 REAL ESTATE Atlantic Management explores IMAX theatre option If Richard Derrickson's plans work out, an Center and Skateworld II. Shown is the front lo 13" and "Star Wars: Episode II, Attack of the Clones" to IMAX format in 2002 after releasing IMAX Digital Remastering (DMR) technology. IMAX's abil- ity to convert Hollywood, films sion to take root. "  " The company has been waiting for over three months to settle its insurance (:laim and doesn't know how much longer the process will take, said Dave Johnson, comp- gives the corporation greater vail- troller of Atlantic Management. ety and Wider appeal. ' "Dagemade Skateworld's • • .m, "Owner Richard Demcloon ,'- lease. funeL so we are not re- ally wants to build the complex," opening it," said Hill. "On the said Hill. "If everything works out, we will." Atlantic Management must set- tle with its insurance company and work out details with IMAX Corporation for Derrickson's vi- bowling front, as owners we would rather not operate a bowl- ing alley." The Derrickson opened Mid- way Bowling Center in 1983 and ran the business for 20 years. Reerdon photo Bowling "Over tile pist five years the business has not been paying for itself," said Johnson. "It's gotten too expensive. Like any business when it goes down, you look else- where. We haven't 100 percent ruled out the bowling or skating business, but it is highly unlikely we will open one." '- If the IMAX Theatre doesn't work out Atlantic Management may be interested in leasing space and selling equipment to other businesses, said Johnson. "We know people are really missing the bowling alley," said Hill. By Amy Reardon Roller skaters will not glide on Skateworld II's rink and bowlers will not flatten pins in Midway Bowling Center. The recreation centers, which closed after Skate- world's snow covered roof came down in the President's Day Bliz- zard, are not likely to open their doors again. Instead, Cape Region residents and visitors may be able to ex- plore natural wonders like the Grand Canyon, the inside of an atom, the magic of space, or watch remastered Hollywood films on giant screens. Atlantic Management, which owned and operated Midway Bowling Center and:!dasceto Skaeworld II, ma*y build anMAX Theatre where the damaged building now stands. "The IMAX Theatre would probably take up the entire space," said Sabrina Hill, vice president of Atlantic Manage- ment. "It's still in the exploratory stages. We've contacted IMAX Corporation, and both sides seem terested." Most people associate IMAX ;Theatres with institutional venues e museums, planetariums and tmritime centers. Half of all the- atres, however, are located in commercial settings and new technology makes theatres even stronger outside museum walls. The corporation converted "Apol- "But the area has changed a lot in 20 years, and bowling doesn't seem like something people want to do anymore. We're looking for something new and differcm:' Former patrons who still have equipment in the bowling alley can call Atlantic Management at 645-9522 to arrange times to re- trieve their property. Dogfish Head to award poetry prize at festival The first Dogfish Head Poetry Prize will be awarded Saturday, Dec. 13 Milton, at the Fifth Annu- M John Milton Memorial Poetry Festival, by Sam Caligione, founder and CEO of the Dogfish Head Craft Brewery in Milton. The prize consists of chapbook publication (and five copies of the chapbook) by the Argonne House Press of Washington, D.C., and two cases of Dogfish Head Crafi Brewed Beer, $200, and an off, season, weekend retreat at Kille Pond State Park in Kent Coun courtesy of Dogfish Head a Caligione. The Prize Competiti is open to any poet residing on Delmarva Peninsula, and will be awarded for the best chapbook- length manuscript submitted fol- lowing these guidelines. Continued on page 67 Be objective when making investing decisions Recently, I attended a monthly directors meeting of an associa- tion I belong to. During the meet- ing there was a brief discussion concerning the failure of Gover- nor Erhlich's slots bill, which would have benefited not only the horse racing industry here in the state of Maryland, but help im- prove our educational system with the extra funding. A lawyer in the group gave an update on the latest gossip heard in Annapolis on the future of slots. The lawyer said that some elect- ed officials were pushing for five Slot machine locations instead of the three that the Governor's bill had called for. He claimed that two tracks would probably be awarded slots as well as three tourist destination spots based on competitive bidding. Then the lawyer made a state- ment to.the effect that five casino locations wouldn't generate any more total revenue than three casi- nos. It would just reduce the amount gambled at each site. If that statement were true, Mc- Donald's and SUbway wouldn't * locate restaurants just a couple of miles apart. What the lawyer fails FINANCIAL FOCUS Davis Clogg to understand is that all businesses have saturation levels. In other words, how many McDonald's, as an example, can a geographical location support. I doubt if five casinos for the entire state of Maryland is a saturation point much less the proposed three loca- tions that the Governor wanted. I just point to Atlantic City as a prime example• If the lawyer is correct in his statement, then how can the eleven casinos in Atlantic City which are crammed in such a small geographical area survive? Now this attorney is a good lawyer and is associated with a fine law firm, and they do great le- gal work. But if he really believes his comment to be true, then one has to question is business acu- men, and I don't believe the ques- tioning to be unfair. After all, you can't expect everyone to be an ex- pert in all areas. That would be an unreasonable demand, but we must recognize our limitations, and seek help when needed. Now, how does the above sce- nario relate to investing? Well, as I have said many times• before in this column, be objective when it comes to investing your hard earned dollars. Don't get caught up in enthusiasm and greed or you will lose in the end. Don't be like the lawyer that went beyond his expertise. In the above case, if you do not under- stand business saturation get help from someone that does• If you are researching a technology com- pany that is offering some state of the art software, seek out a soft- ware specialist and run the idea by him or her. If you are looking at a medical company seek a physicians input• Talk to their competitors• Do some legwork, The main point is to recognize your own limitations and recognize when it is necessary to seek outside advice. No one can be a jack of all trades with any de- gree of expertise. Food for thought: With the mar- ket in a trading range for the past seven or eight months, and the un- certainty of the Iraqi War over with, it might be an idea time to start stepping back into the market on a dollar cost averaging basis. technology-oriented person, or perhaps a CEO. Or if you want to specialize your investing in medical compa- nies for example, form a group of doctors with various specialties and expertisefs who could all add to an intelligent decision making process. Make sure you include an in- vestment advisor either as a mem- ber or consultant since they can provide you with much needed re- In order to add some social fun search as well as the best way to to your investing you might con- execute y0ur'orders. sider setting up an investment In order to get started all you club. A club where ten to fifteen individuals pool their monies to- gether and invest as a group. In the beginning maybe the group couldmeet once a month and then less often as the situation dictates. Using my above scenario where the lobbyist is a good lawyer, but his business skills might be lack- ing, have a diverse group of indi- viduals that all have something to contribute. Try to have an ac- countant as a key member so he or she can review the financials of the companies you are research- ing. Some other likely members could include a lawyer, doctor, need to do is get a partnership agreement developed and signed (if you call me I can provide you with a sample). Then create an in- vestment plan, select your mem- bers, open a trading account, and start the stock selection process. With a decent stock market, you will not only make money, but you will have ftm d probably meet a few new people along the way. Editor's note: David R. Clogg is a financial adviser at Chapin, Davis of Baltimore. For more in- formation, call 410-435-3200.