Wismer Martin Annual Meeting May Explain Year’s Ups, Downs

Wismer Martin Inc., a North Spokane manufacturer of software for the medical industry, faces its shareholders this week at its first annual meeting since a series of events drove the stock price down 70 percent.

The meeting begins 1:30 p.m. Tuesday at Wismer Martin headquarters, 12828 N. Newport Highway.

Officially, the purpose of the meeting is to elect six directors, five of whom are returning to the board, and to approve BDO Seidman as Wismer Martin’s new independent accountant.

But the company also may recap a rocky year that resulted in the resignation of its longtime accountants, Coopers & Lybrand; a $1.38 million fiscal 1995 loss; and enough debt to consider selling Wismer Martin headquarters.

On the upside, Wismer Martin last month won a federal injunction against Electronic Data Systems Corp., barring the Dallas-based giant from using Wismer Martin software. Wismer Martin also is completing a $3.6 million stock offering, which was launched to satisfy debts to Seafirst Bank and others. Wismer Martin stock, which a year ago traded for about $2 a share, last week traded for around 60 cents a share.

In other events this week:

Today

The Internal Revenue Service and Idaho State Tax Commission hold two free seminars on electronic tax filing at the Red Lion Inn in the Valley. The first begins at 7 p.m. for beginners; the second at 8:30 p.m. for those with experience.

Tuesday

U.S. Department of Labor issues third-quarter productivity and labor costs.

Federal Reserve’s consumer credit report.

Wednesday

Bill Meany, general manager of Ponderay Newsprint in Usk, Wash., and Ray and Gary Lawton, owners of Lawton Printing Co., will speak at 7:30 a.m. to the Dean’s Business Forum of Gonzaga University’s School of Business Administration in the Jepson Center. Cost: $6.50 pre-paid; $10 day of event. Call 328-4220.

Organizing specialist Sue Swanson speaks at 7:30 a.m. to the Pullman Chamber of Commerce at the Holiday Inn Express.

Washington ag credit division of the Farm Service Agency holds open house at 1 p.m. in Rockpoint Tower, 316 W. Boone.

Thursday

The Inland Empire Chapter of the Soil and Water Conservation Society meets 8:30 a.m. to 3 p.m. to discuss tillage technology, fire rehabilitation and salmon runs at the Quality Inn East in the Valley. Cost: $25. Call Chet Jahns at 353-2364.

The International Mass Retail Association announces results of a Gallup survey on American’s holiday shopping plans.

Labor Department reports October wholesale prices.

Friday

The Spokane Cork & Keg Festival begins at 7 p.m. at the WestCoast Ridpath Hotel. Cost: $17.50. Call 467-7744.

Saturday

U.S. Rep. George Nethercutt, R-Wash., speaks at 3 p.m. to the Adams County Association of Wheat Growers at the Circle T in Ritzville. , DataTimes ILLUSTRATION: Graphic: Measuring the Economy

MEMO: This sidebar appeared with the story: ON THE SHELF Newsweek, Nov. 6: The current uproar over the ethics of Money columnist Dan Dorfman says a lot about business journalism and investors’ mentality, says Newsweek’s Allan Sloan.

More bang for the chip Here’s a look at the year each generation of Intel Corp.’s x86 microprocessor became available and how many transistors its basic design contained: 1979 - 808,660,000 1982 - 286,200,000 1986 - 386,600,000 1989 - 486,1,200,000 1993 - Pentium, 3,100,000 1995 - Pentium Pro, 5,500,000