STRICTLY BUSINESS: GOOD THINGS COULD COME IN DRAB PACKAGES

Good things would come in plain, brown packages if a nonprofit environmental organization has its way.

Never mind that consumers are wild about bright gift-wrapping, Inform Inc. is urging families to do away with those colorful and shiny holiday gift wrappings and package the gifts in recyclable, environmentally friendly brown paper or reusable baskets.

This is the same company that suggests decorating the Christmas tree with popcorn and cranberry strands that can later be used to feed the birds. Inform also urged writing holiday messages on both sides of the paper.

One Inform representative sums it up:

Burning holiday gift wrapping can pollute the air or put metal toxins in landfills, said Inform spokeswoman Bette Fishbein, adding that wrapping containers and packaging make up about a third of all garbage.

"I guess you could call us the Grinch," said Fishbein, "but we want to give our planet a happy holiday, too."

Satisfied with economy

Three out of five adults say they are satisfied with the economy today.

This is from a poll sponsored by the Wall Street Journal and NBC News. The poll, conducted by polling organizations of Peter Hart and Robert Teeter, included telephone interviews of 2,003 adults, with samplings from 520 geographic points in the United States.

A number of questions were asked in the survey, including economic questions.

On the overall economy, most Americans expressed satisfaction with interest rates, job security and with their own financial situation.

The 60 percent satisfaction ratings is the highest level of confidence in years and contrasts with the beginning of 1996, when two of five expressed satisfaction with the economy.

The demographics of the poll were not surprising. Men are more satisfied with the economy than women, older and more affluent Americans are more content than younger and poorer citizens and Democrats are more satisfied than Republicans.

In the overall Wall Street Journal satisfaction index, which gauges all the economic measurements, there is almost an evenly divided public -- 34 percent satisfied, 35 percent mixed and 31 percent dissatisfied.

Steady district growth

In another economic report, the Eighth District economy continues to grow at a steady pace.

That's Eighth District, as in the St. Louis Federal Reserve Bank's Eighth District which has branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn. The district includes all of Arkansas, Eastern Missouri, Southern Illinois and Indiana, Western Kentucky and Tennessee and northern Mississippi.

The Federal Reserve Bank issues its Beige Book, so named because of the color of its cover, eight times a year, reporting on economic developments throughout its region.

In the latest Beige Book Summary, district retailers report that sales were up 4 percent in September and October from 1995, and most are expecting a strong holiday season. Auto sales were mixed during the same two-month period, but most contacts expect a pickup through year's end.

'Bad' news offset by 'good'

Much of the bad news -- two factories closed -- throughout the district has been offset by good news -- plant expansions, new hiring and sales gains, says Joe Elstner, who helps prepare the Beige Book for the Eighth Federal Reserve District.

The Beige Book, said Elstner, can best be described as a "collection of views compiled from various business and community leaders throughout the district."

It is not an in-depth report, emphasized Elstner, "but it gives a good snapshot of the economy."

Leaders, said Elstner, provide information confidentially, knowing that it helps check the pulse of the regional economy, helping the Federal Reserve Bank of St. Louis and the Federal Reserve System to determine monetary policy.

Beige Book information -- provided every six weeks -- can be accessed through the Federal Reserve Economic Data (FRED) electronic bulletin board. FRED can be reached with a personal computer and modem at (314)-621-1824.

The latest summary indicates that the district economy continues to grow.

Survey of 250 businesses

In a survey of more than 250 businesses throughout the district, most foresee little change in economic activity in the immediate future.

Loan activity, especially commercial loans, continues to be strong. Bankers in St. Louis and Central Kentucky report aggressive competition for business loan customers.

Residential real estate markets are strong in most parts of the district. Prices for both new and resale houses are rising. Monthly resident construction permits were up only five of the district's 12 metropolitan, but for the year, permits are up in nine metropolitan areas. The three areas that are below last year's residential totals are in the southern part of the district.

Meanwhile, parts of Southern Illinois, Western Kentucky and Southeast Missouri are seeing strong commercial construction.

Good crop year for farmers

Farmers had a good crop yield with prices and yields above the average. Arkansas rice yields surpassed the all-time high yield of two years ago, Bootheel cotton has been good, and southern pine lumber mills report that orders on a year-to-date basis continue to outstrip last year's pace by more than 7 percent.

Economy activity is little changed from recent reports.

Most district contacts report growth at their companies and in their industries. Hiring and keeping qualified workers because of tight labor markets remains the big concern of many companies.

Providers of transportation and delivery services area growing in the district, with both railroads and trucking companies adding workers. Trucking companies report a shortage of drivers. Food and beverage industries also report sales and employment up. Poultry processing companies report sales increase over last year.

Some companies report slowdowns in their growth. A scrap metal industry notes a slowdown in the steel industry's rate of inventory increase, the apparel industry has lost two plants because of foreign competition, with the loss of 750 jobs.

Industries report that material prices are basically stable, but lumber, aluminum and natural gas is up.

Contacts also report nominal wage increases, of 3 to 4 percent, for the coming year.

Not all is good news

Elsewhere, three large companies have spread some sad holiday economic news to employees.

BankAmerica Corp, headquartered in San Francisco, announced it would cut 3,700 jobs; chemical maker Witco Corp., based in Greenwich, Conn., said its payroll will be trimmed by 1,800 and book publisher Golden Books Family Entertainment Inc. in Wisconsin plans to eliminate 200 jobs. Witco employs about 6,800 people around the world.

The number of Bank America employees "fired" will depend on how many quit and how many job opportunities come up elsewhere in the company, which now employs 92,700.

The U.S. Commerce Department reports that oil imports are up, 5.1 percent in October, to the highest level since November of 1990, and that the average price per barrel of crude oil climbed to $21.38, the highest level since January 1991.

So far this year, through November, America's non-oil deficit is 20.1 percent lower than a year ago, but America's oil bill is 2.4 percent higher.

B. Ray Owen is business editor of the Southeast Missourian.