Logansport Pharos-Tribune from Logansport, Indiana on March 29, 1988 · Page 7
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Logansport Pharos-Tribune from Logansport, Indiana · Page 7

Logansport, Indiana
Issue Date:
Tuesday, March 29, 1988
Page 7
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Pharos-Tribune, Logansport, Indiana, Tuesday, March 29, 1988 Page? Business GTE Firm On Rate Request INDIANAPOLIS (AP) - GTE North doesn't plan to alter its request for a $37.3 million telephone rate increase, which critics have called unnecessary. Company attorney David C. Lee told the Utility Regulatory Commission Monday the company soon will offer more detailed information on expenses and revenues to justify the rate request. No changes are planned in the amount of the request, he said. Hearings on the request were suspended March 10 when GTE asked more time to put together evidence to support its rate request. The request was attacked during two days of hearings by opponents who said the company is in sound financial condition and doesn't need more money. Another conference in the case is scheduled April 6. Intervenors will present testimony May 19. At a conference Monday, an aide to the utility consumer counselor said he wants more recent financial information to be used in judging the GTE request. Robert Glennon said the counselor's office objects to plans to evaluate the rate request by using data from the year ending June 30, 1987. That information may already be stale because it Exide, UAW Resume Economic Issue Talks By MARGO MAROCCO Business Editor A second round of negotiations between Exide Corporation and United Auto Workers was scheduled to resume today in Indianapolis. Joe Dold, plant manager of the Exide facility on Water St., said Monday the current talks involve an economic re-opener. In April of 1987 members of the United Auto Workers Union, local 84, approved a new three-year-contract "with the exception of economic issues." No economic issues were negotiated last year, Dold said. "These were held in abeyance to be negotiated this year." Dold, in Indianapolis today for the talks at the Adams Mark Hotel, would not discuss details of the negotiations. "It's simply as we agreed last year. The parties are at the bargaining table working on it and there is nothing to talk about at this time. We are still negotiating," he said. Dold said the contract involving economic issues only expires at 7 a.m. April 1. The remainder of the threee-year contact signed last year runs to April 1,1990. "We are going back to the table in good faith," said Lamar Copenhaver, president of Local 84, before leaving for Indianapolis Monday. He would not comment on details of the negotiations or the issues involved. Economy At A Glance Farmers Co-ops To Merge CRAWFORDSVILLE, Ind. - Heartland Co-op Inc. is growing . from a merger of Lafayette Co-op Elevator and Montgomery County Farm Bureau Co-op, officials announced. BUI Windle, president of the Lafayette Co-op, and Kenneth Pearson, president of the local co-op, said Monday the merger takes effect April 1. The name change will occur Aug. 1. The Montgomery County co-op has been leasing and operating the facilities of the Lafayette Co-op since January 1986. The consolidation of the businesses into one corporation will not bring any changes in operations or personnel, officials said. Vance Pyle, general manager, said the new co-op will serve farmers in Tippecane, Montgomery and Parke counties. State's Unemployment Claims Drop INDIANAPOLIS - The state's unemployment claims for the week ending March 19 dropped by 1,453 to 48,934, the state Department of Employment and Training Services says. The new total, down from the previous week's 50,387, is a decrease of 10.7 percent from the year-ago total of 54,781, according to department director Thomas P. Miller. Miller said there was a slight decrease in continued claims. Initial claims increased significantly due to short-term layoffs in Fort Wayne and other areas. FDIC Could Lose Money Because Of Bailout WASHINGTON - The federal fund that insures deposits in commercial banks may lose money this year for the first time in its history, but any shrinkage likely would be less than 5 percent, the head of the fund says. Whether the Federal Deposit Insurance Corp. loses money depends on how much it costs the government to rescue First RepublicBank Corp. of Dallas, FDIC chairman L. William Seidman told reporters Monday. The deterioration of Texas banks, hard hit by losses on real estate and energy loans, has raised concern about the health of the fund, which backs deposits of up to $100,000 in 13,700 commercial banks. Earlier this month, the FDIC pumped $1 billion into First RepublicBank, the largest bank company in Texas, to stem a run on deposits. Group To Picket Northwest Over Smoking Ban PHOENIX, Ariz. — The president of a smoker's-rights group says he is organizing a protest at key airports nationwide to protest Northwest Airlines' plan to ban smoking on all flights over North American soil. "It's very important that Northwest recognize they are displacing a significant portion of passengers," said Dave Brenton, president of Smoker's Rights Alliance, who admits to smoking about ivfe packs a day. Starting April 23, Northwest plans to ban smoking on all flights within the 48 contiguous states and Alaska and flights serving Mexico, Canada, Jamaica and the Cayman Islands. Associated Press doesn't include detailed information on GTE's operations after a recent reorganization, he said. The counselor's request will be considered at next week's conference. GTE North, known until recently as Genera] Telephone, has more than 510,000 customers in 114 exchanges. The company serves Fort Wayne, Lafayette, Terre Haute, Lafayette, Elkhart and Richmond. Bills of customers in many areas would increase 40 percent if the GTE rate increase is approved. IRS Curbs Traveling Taxpayers WASHINGTON (AP) - A quick trip across the border on April 15th no longer will bring procrastinating taxpayers an automatic two-month extension on their income taxes, the Internal Revenue Services says. Traveling taxpayers now must leave the country for at least two weeks, including April 15th, to qualify for the automatic extension which previously was available to those who fled the country for even a portion of Tax Day, the IRS said Monday. The IRS had been considering such a change for about a year, but hastened its decision after seeing airline advertisements that encouraged people to leave the country to delay their filing deadline, said spokesman Jeff Krasney. He said the ads also inaccurately suggested the IRS was endorsing such behavior. "We didn't know if the ads would cause an abundance of individuals to take this (extension)," Krasney said. "We felt this would be one way to combat those ads." The new ruling is effective for taxes due next month. Since the instructions already distributed to taxpayers say the extension is available to travelers who are out of the country on the 15th, the IRS will use some discretion in deciding who qualifies this year, Krasney said. "If people submit the proper documentation, such as a trip notice, we will take a look at it and determine if in fact that particular situation is legitimate," he said. "The IRS will weigh different types of factors to determine what is considered extenuating." But no more of those quickie trips across the border, he warned. "Prior to this ruling, if you lived in El Paso, Texas, and decided to travel to Juarez (Mexico) for lunch on April 15th ... you would be given an automatic extension," he noted. Krasney said the crackdown wasn't being undertaken as a "revenue-enhancing" step, but rather to avoid "possible abuse" caused by the advertisements. He had no estimate on how many taxpayers have taken advantage of the travelers' extension provision in the past. Under the IRS rules on travel, some U.S. territories are considered part of the country and others are not. Travel to Puerto Rico, for example, will not qualify taxpayers for the extension. But a two-week trip to Guam, American Samoa or the Virgin Islands will net procrastinators two more months. CALL 722-5000 ACTION-PACKED CLASSIFIEDS Central Indiana Gas Prices Under Year Ago INDIANAPOLIS (AP) - Central Indiana gasoline prices have dropped an average of 2 cents since this time last year, according to the AAA Hoosier Motor Club's Easter Fuel Gauge Survey of 196 service stations. Average price of all grades is $1.06, the survey said. The club's survey history shows that Easter gasoline prices have remained steady over the past three years. The average prices this Easter are full- service regular, $1.12; no lead, $1.17; premium no lead, $1.30, and diesel, $1.20. Spring into Easter at Hallmark! Get this colorful Easter Egg Decorating & Hunt Kit Only ,*»> J^ A With any $5 Hallmark Purchase (Limit one per customer) Find your participating Hallmark shop listed in this ad and get this PEANUTS Easter Egg Decorating & Hunt Kit today, while supplies last. Kit includes egg tablets, drying tray, decorating stickers, egg display stands and paw prints to decorate the Easter Beagle's egg hunt trail. It also includes prize stickers to give as egg hunt prizes. ONLY*! HALLMARK When you care enough to send the very best Kokorno Helene's Hallmark Northwest Plaza 456-3001 Kokomo Party House Markland Mall 457-5144 Logansport (East) Colleen's Hallmark Shop Cass Plaza-US 24 East 722-4866 Logansport (East) The Gift Box Logansport Mall 753-8442 1988 Hallmark Cards, Inc. 7 . 75 % THE HIGHEST CD RATE AVAILABLE! IN LOGANSPORT IF&M FDIC Logansport Walton-Galveston CIRRUS,

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