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Lewes, Delaware
Jim's Towing Service
December 24, 1998     Cape Gazette
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December 24, 1998

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40 - CAPE GAZETTE, Thursday, December 24 .December 31, 1998 BusINESS & REAL ESTATE Lowe's to open Five Points superstore in January By Michael Short Bring a map. The new Lowe's will open at Five Points in mid-January with a full garden center, 40,000 items stocking its massive shelves and enough floor space to get lost in for a day or so. Co-manager John Grennan said the new store is approximately 151,000 square feet in size, including the garden center. There will be 150 to 170 employees. "We are glad to be here," Grennan said. "It is just a fun experience to try to take care of a customer each and every time," Grennan said. "We understand that customer service is first and foremost. We talk about that each and every day and we do back that up." Because of its large size, the "superstore" agreed to make sev- eral transportation improvements in order to reduce its impact on the area. Lowe's agreed to do the following: construct an additional right turn lane with Route 1 and Route 9 meet at Five Points construct left turn lanes on Plantations Road and pave shoul- ders in that area improvements on Sussex 285, the small connecting road linking Plantations Road and Route 9 The main access to the store will be off Plantations Road because one of the major conces- sions required by Delaware's Department of Transportation was not having a Route 1 entrance because the store is so close to Five Points. Lowe's is expected to have a number of unusual features and a great emphasis upon personal ser-  vice. Grennan said the store will ..... include what he called "Lowe's : professional employees." ,- Those employees will be scattered throughout the store and will be experienced in plumbing, flooring and other areas, so they can pro- vide needed information. "'It gives them [customers] the confi- dence they can come in and get the information they need from start to finish," he said. There will be a number of how- to clinics for customers, every- thing from carpeting to plumbing to installing drywall. If you can't quite imagine how your home improvements will look, you can hook up to the CAD system, which uses computer technology to provide sketches of decks, cab- inets and other improvements you are visualizing. If you can imagine it, the sys- tem can draw it and give you a dollar figure for the installation. Grennan said that Lowe's employees will install carpeting or flooring. They also provide a host of other services, ranging from cutting ceramic tile to threading pipe. "We realize that there are competitors, but what is going to make the difference is customer service." The existing Lowe's, just south of Troop Seven, will remain open until the new store opens its doors. Those existing employees will have jobs at the new store, although additional employees have been hired. Grennan was unsure of the fate of the existing store, although Continued on page 41 Michael Short photos Above, the new Lowe's dominates the Five Points intersection. At left, Lowe's co-manager John Grennan poses with some of the 40,000 items that will line the shelves of the new store at Five Points. The new Lowe's will open its doors in mid-January. Different types of investments for every situation When beginning an investment program, it's important to under- stand the basic types of financial instruments. There are three gen- eral categories of investments: stocks, bonds and cash equiva- lents. Understanding these classifica- tions is the first step in choosing a financial program that is best suit- ed for your own needs. What are stocks? Stocks, also known as equities, represent a share of ownership in a corpora- tion. Shares of stocks are offered for sale by companies as a means of raising money and providing investors an opportunity to partic- ipate in the overall performance of the company. The value of share of stock may fluctuate more than that of bonds or cash equivalents, which are usually associated with less risk. ii!iiii!iii!!!ii!i!!!i!  :!liiiiiiii!iiii!!i!! iiii! :iiE::iiiii::ii::i i::ili::iii::i::i::i::!:?iii. FINANCIAL FOCUS Bruce Chilcoat Over the long term, however, stocks as an asset class generally have produced a higher return than either bonds or cash equiva- lents. Of course, past performance is no guarantee of future results, and performance will vary among individual stocks. What are bonds? Bonds are issued by a company or govern- ment entity as a way to borrow money. Bonds 'represent loans made by the bondholder to com- pany or government entity that issues them. A company may issue bonds because it needs funds to expand its business, while a government entity may issue bonds to build or improve roads. Bonds are generally expected to provide an investor with a fixed rate of interest and to repay the principal amount of the investment on a stated future date - at maturity. Bonds are generally considered to be less risk than stocks but more risky than cash equivalents. What are cash equivalents? Cash equivalents are "liquid" assets - assets that can easily be turned into cash. They include Treasury bills, bank certificates of deposit (CDs), commercial paper - the short term I.O.U.s of large U.S. corporations - and money market funds. Cash equivalents carry less risk, in terms of volatil- ity, and have historically produced lower returns than stocks and bonds. What about mutual funds? Mutual funds are not another cat- egory of assets. They are invest- ment vehicles that pool assets from many people to invest in one or more of the three general investment categories described above. By pooling assets from many investors, a mutual fund can invest in many different stocks, bonds or cash equivalent securi- ties. Such diversification has the potential to lower risk by spread- ing it among a number of invest- ments. Based on the fund's invest- ment objective, a professional portfolio manager makes invest- ments decision for the fund. Some mutual funds are aggressive, while some have more conserva- tive objectives. The range of dif- ferent investments objectives means that you can choose a fund that closely matches your own financial goals, objectives and risk tolerance. Your financial advisor can help you determine which types of investments are suitable for your own financial situation, goals and risk tolerance. Bruce W. Chilcoat is a financial adwor and certified financial planner with Morgan Stanley Dean Witter in Rehoboth Beach. He can be reached at 226-5100.