Boxoffice-April.07.1958

TOA'S GROUP INSURANCE PLAN
READY; COVERAGE TO $20,000
Two Options Are Offered;
For Salaried Workers
And Key Personnel
NEW YORK—Theatre Owners of America's
group insurance plan has been completed
and its details were revealed last
week by the organization. Coverage lor
TOA members ranges from $5,000 to
$20,000.
The program, which has been placed with
the John Hancock Mutual Life Insurance Co.,
will offer two options: one covering all salaried
personnel and the other which will insure
all key management and supervisory
personnel. The employer will pay the entire
cost of insurance.
ALL TOA MEMBERS ELIGIBLE
All TOA members will be eligible to join
and the program will become effective as
soon as a minimum number of lives are enrolled.
The group insurance program is the
result of several years of work of a special
TOA committee headed by George G. Kerasotes,
senior assistant to the president.
Kerasotes heads his own circuit with headquarters
in Springfield, 111. The plan will be
administered by the Theatre Owners of
America Group Insurance Trust, now set up
at TOA's New York headquarters, 1501
Broadway.
Kerasotes pointed out that the option plans
will make it possible for smaller theatres or
circuits which previously could not obtain
group insurance because of insufficient employes
to now cover all their salaried workers.
Larger organizations, which already
have such plans, will be able to utilize the
new program to supplement their existing
plan for key executives and supervisory personnel.
The first option provides that TOA members
must insure all their salaried employes.
Hourly, seasonal and temporary employes
do not qualify.
SECOND OPTION PROVISION
The second option provides that TOA members
must insure all "key management and
supervisory personnel only." These are defined
as owners, partners, active corporate
officers, zone managers, district managers,
bookers, comptrollers, resident accountants
auditors, house counsel, theatre managers
provided they "control advertising, have authority
to fire and hire and are not assigned
minor administrative duties only," and "other
personnel performing key management and
supervisory functions." Cashiers, stenographers,
bookkeepers and other personnel performing
clerical functions are not eligible
under this option.
Coverage is as follows: Salaried employes
earning $2,500 to $5,000 are covered to $5,000
in insurance; earning $5,000 to $10,000, $7,500
in insurance; earning $10,000 to $15,000, $10,-
000 in insurance; earning $15,000 but less than
$20,000, $15,000 in insurance; earning $20,000
or more or an individual owner, partner or
active corporate officer, regardless of salary,
$20,000.
The pwlicy provides double indemnity in
Increase in Color Films
Foreseen by Kalmus
HOLLYWOOD—Exhibitor and movie patrons
can look to more pictures in color. Dr.
Herbert T. Kalmus, president of Technicolor
Inc., reported to stockholder.s thi.s week. "The
requests of our customers for pictures for
1958 indicates that the pendulum is swinging
back to color as comE>ared with black and
white," he said.
An indication of this rise in color features
was shown by Dr. Kalmus in reporting that,
while in 1957 the company had commitments
for 44 new feature length pictures,
currently 41 pictures are already under way
or in preparation for photography during
1958.
Dr. Kalmus' optimistic view came in an
annual report which showed that both sales
and profits went down for the year ending
Dec. 31, 1957.
In that period. Technicolor, Inc., and its
various subsidiaries had sales totaling $24,-
674,620 compared to $29,445,950 in the previous
year. Profits before taxes on income
event of accidental death and special benefits
for dismemberment.
Pi-emium payments by employers to the
group insurance plan will be tax deductible,
except for Individual owners' and partners'
premiums.
No medical examinations will be required
and the only eligibility requirement for an
employe is that he complete six months of
full-time service. On termination of employment,
an employe has the option to convert
his policy to an individual policy. If he
transfers from one TOA member's employ to
another where coverage exists, the policy may
be transferred.
"Group insurance," Kerasotes said, "establishes
good will with employes. This is
impwrtant in today's labor market. It encourages
valued workers to continue with the
COMPO Annual Meeting
In New York, April 15
New York—The annual meeting of the
Council of Motion Picture Organizations
will be held at the Astor Hotel here April
15. Meetings of the board of directors
and the executive committee will be held
at the same time. It is considered certain
that there will be quorums for both the
board and committee meetings.
Discussions will center around the drive
for elimination of the federal admissions
tax and the readmission of National Allied
to membership. Ben Marcus of Allied
will be the Allied delegate.
amounted to $242,946 as compared to $2,-
688.168 in 1956. However, the net earnings was
reduced to $95,946 or five cents per share
whereas in the previous year the net totaled
$1,226,149, or 60 cents per share.
Approximately $1,001,000 invested in plants
and equipment during 1957 makes a total
investment in such assets .since Jan. 1. 1945
of $14,280,000.
According to Dr. Kalmus, Technicolor
"closed the year in a very strong liquid position
with $7,853,531 in current as.sets against
which were $2,673,798 in current liabilities,
namely, net current assets of $5,179,733. Of
the current assets, $4,264,881 are in cash and
United States obligations. There are no outstanding
preferred stocks or mortgages, although
a long term loan of $5,000,000 was
obtained from an insurance company on
Oct. 1, 1954, and during the year 1956 a
long term obligation of $180,000 was taken
over as a result of the purchase of assets
from Pavelle Color, Inc."
employer because of these benefits and also
encourages employes of high caliber to enter
the employ of an employer who voluntarily
provides these benefits."
Application forms and brochures will be
mailed to members this week.
Ad Agencies Create Unit
To Promote Campaign
NEW YORK—The six
advertising agencies
that serve the industry have been organized
into a councU of consultants to further the
business-building campaign, Paul N. Lazarus
jr., chaii-man of the campaign operating committee,
reported Wednesday (2K
The committee has named Donaliue & Coe
to place the advertising based on presentations
made by all six agencies. Donahue &
Coe will perfect a tentative copy arrangement.
The schedule calls for $950,000 in newspaper
advertisijig and $300,000 in radio advertising.
The other five agencies that submitted
copy and compose the consulting council are
Blaine, Thompson; Buchanan, Inc.; Cunningham
& Walsh ; Monroe Greenthal and Charles
Schlaifer. Tliey will be called on for suggestions
as the project progresses. Lazarus
pointed out, however, that Donahue & Coe
will be responsible for the copy used and will
handle the campaign under the general supervision
of the operating committee.
Acting for the operating committee will t>e
Maurice A. Bergman and Charles E. Mc-
Caithy. recently named co-administrators of
the campaign. Bergman is director of public
affairs for the Motion Picture Ass'n of America
and McCarthy is information director of
the Council of Motion Picture Organizations.
BOXOFFICE AprU 7, 1958