Wednesday, July 8, 1987

New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Page: 5

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Text Content of Page 5 of New Braunfels Herald Zeitung on Wednesday, July 8, 1987

New Braunfels Herald-Zeitung (Newspaper) - July 8, 1987, New Braunfels, Texas Commerce Industry July New Texas PageS Texas Business Today Warnings good protection By MARY SCOTT NABERS Commissioner Dear Commissioner Nabers I have been reading your columns and I notice that you often emphasize giving employees written warnings or Is there a law that requires an employer to do this before he can fire somebody Texas Dear there is no law which requires you to give written warnings before terminating an It good business practice and good protection for you as an employer to do A written signed by the is excellent proof that you notified the employee of the gave him or her an opportunity to take corrective and advised the employee of the consequences of failure to take such Verbal warnings or counselirtgs are often or underestimated as to their im Dear Commissioner Nabers How much money can a person receive in umemployment benefits and how long can they draw it Texas Dear The amount of benefits available to a claimant depends upon their Currently the maximum weekly benefit amount is for 26 weeks a total of The minimum weekly benefit amount is In order to qualify for the maximum benefit an in dividual must have been earning approximately a year at least a year and a half prior to the date of the GV phone coop meets The Guadalupe Valley Telephone held its 32nd annual membership meeting June 24 at New Braunfels Civic Curtis chairman of the presided over the which was opened with a trumpet solo of the National Anthem by New Braunfels High School senior Brian The Very Terrance Noland of Josephs Catholic Church at Honey delivered the Ed Comal County served as sergeant at arms and parliamentarian was GVTCs legal counsel Marion Bremer in his remarks to the memberowners reported on the cooperatives sound financial condition and the coops con tinued progress during the GVTC assets now stand at more than Membership in the cooperative increased by 6 percent during Bremer announced thai the telephone coop was returning capital credit refunds in excess of to its This he brings the total payback to more than For the past 15 the cooperative has not had to in crease its rales for basic regulated service and Bremer announced that the coop has no plans to institute any sort of local service increase this Five directors were elected Doris district 1 Alvin district 2 Harry district 3 and district Membership approved a 50 percent increase in directors meeting lister also was honored for his 25th anniversary with Vice president Lester received a special award for his years of work with rural telecom General Manager Ken Brannies presented 13 employees with service Awarded for five years of service were Jan Jim Bob Rosemary Pam Rudolph Lorine and Bruce Reciving service awards for 10 years of service were Gloria Gass and Jimmie Service awards for 15 years of senice went to Glenn Acker and Virgil Raymond Willeford received a service award for 20 years of service and Gilbert Philippus received an award for 25 years of George Saur was recognizedas GVTC employee of the Dear Commissioner Nabers Can a person draw unemployment benefits and Workers Compensation at the same time Dear The Texas Unem ployment Compensation Act provides that a person receiving Workers Compensation payments during a period when he would otherwise be eligible for unem ployment benefits will be disqualified from receiving unemployment You should be that this disqualifying provision does NOT apply to a settlement payment made by your Workers Com pensation carrier in lieu of litigating a contested Workers Compensation Nabers represents em ployers throughout If you have any write her at Texas Business 614 Texas Employment Commission 15th and Texas the of thfc Few training fbf Safe Ptoagfc Through Corridors o STAND TAUOWbOUft Withdrawals surpass bad loans as worry DALLAS AP Some Texas already saddled with bad are trying to fend off a run by depositors who are pulling their dollars out by the millions in what one analyst called a cycle of greed and Large depositors withdrew million in the largest withdrawal so far this year in according to the Federal Home Loan Figures arent available yet for May and Analysts and regulators said those depositors were cashing in their highinterest jumbo cer tificates of deposit at troubled thrifts and taking them to healthier institutions with lower We see two emotions in the cycle greed and said Frank a financial con sultant with Ferguson of While some depositors lately have been showing renewed Anderson believes that so greed has won out over People want the higher rates at the ailing in stitutions but they also want the government It depends on whether you want to eat well or sleep he The greatest headache for Texas thrifts is the decline of the jumbo certificates said Mike Edgar of the Federal Home Loan The cash shortage prompted a 23 percent in crease in savings and loans taking brokered deposits at interest rates as much as percent over rates paid by thrifts outside said George executive vice president of the Dallas The percent figure is an nualized over the past six he About billion in cash reserves that thrifts held on account at the Dallas FHLB was with drawn in the past six months ending in Barclay But the Dallas home loan bank had gained back billion of that amount by June said Barclay said as much as billion to billion is needed now at the Dallas FHLB alone to improve member institutions For that analysts and some regulators believe a stronger congressional bailout bill is needed for the Federal Savings and Loan In surance which guarantees individuals deposits up to the FSLIC is because it lacks the funds to cover the thrifts projected said the financial Thrifts can operate with bad loans but they must maintain adequate deposits to stay in There is no question that a higher recapitalization bill is he In we will need billion to billion in the next five he The House plan says billion the Senates is about billion and billion was proposed by the Reagan administration and the and supported by the Federal Home Loan Bank in the Dallas FHLB has approached several brokerage houses to help ailing Texas They have a couple of nationwide programs to send money in the direction of thrifts that have said Doug Green with the FHLB Board in Under such securities firms make deposits at troubled thrifts that have suffered the greatest Merrill Lynch which has mostly in termediateterm CDs in more than 100 thrifts around the has been asked to participate in the said company spokesman James Flynn in New All we have done as investment bankers and people interested in savings and loans is to say we would love to look at them and love to be part of the solution if we said He said he couldnt reveal details of the He denied published reports that Merrill Lynch was considering withdrawing about million in deposits from a Houston thrift and would roll over about million worth of cer tificates at another institution for only 90 Our programs are such that we are not in a position to withdraw funds prior to maturity without facing substantial he A Texas savings and loan official said the need for ailing thrifts to pay interest rate premiums of as much as two percentage points above rates paid by outofstate institutions is hurting business Healthy institutions must remain competitive with the We are just cutting out of our own said Gerald president of Colonial Savings and Loan in Fort Energy belt are being penalized by The majority of the in Texas are healthy it is the socalled Texas 40 that are boosting rates and impacting our bottom Tax policy A policy of change NEW YORK AP Does the United States have a tax policy In 1981 Congress passed the Economic Recovery Tax cutting personal tax rales by 25 But in the same year it raised Social Security taxes by In the following it added to the tax take through a billion Tax Equity and Fiscal Responsibility In 1983 the gasoline tax was raised And in the same year Social Security taxes rose In the Deficit Reduction Act added billion to the tax thus erasing whatever taxcut benefits remained from the 1981 tax After a years Congress agreed that taxes were loo and so it passed the Tax Act of designed to lessen the tax burden on most people even if it raised it on Even before passage of that work had begun on changing the tax laws In some members of Congress who agreed to passage of the 1986 act were simultaneously working to change Other members of Congress looked at what had been expressed the view that they hadnt intended to pass everything they had found in the And so they too laid plans to correct their the House Ways and Means Committee has compiled more than 100 possibilities for raising taxes demonstrating once more the amazing ability of lawmakers to rejuggle figures current and those to In the list there is something for Among the possibilities are excisetax increases on cigarettes to 32 cents from 16 cents a pack a luxury excise tax on jewelry and perfume a rise in beer and wine taxes to the same level as those for distilled More wideranging is the possibility of raising the marginal tax the ones that were cut last year a 5 percent surtax a capital gains tax at death a securities transfer tax another tax on oil taxing worker This creativity in taxing matters comes under the extreme pressure of a budget one thai everyone agrees must be corrected but which nobody seems able to correct via the alternative route of cuts in But in spite of this there remains what many people would view as a sense of unreality about a tax The president says he wont allow an And members of Congress seem loathe to be associated with It is a preelection Should Democrats allow themselves to be associated with a bill that would raise taxes Should the President be allowed to stand as a public hero for vetoing such efforts appearances must be Arguments soon will be heard on how to raise revenues a process that is bound to bring the pressure groups back to Washington and reopen agreements that were closed a short time As the process some good and unexpected news has even if it represents a miscalculation by those responsible for last years tax Revenues are higher this year than has been an Is there a tax policy Wags will say there is A policy of frequent More sober seeking to djscern a pattern by taking the longerterm might have to USED CARS Trust Krueger wheels to make those summer time road trips 82 NISSAN Maroon63M M MONTE CARLO 3M I mm 85 Z28 DEMO 11M I DODGE PICKUP Ton 83TORONADO 39M I L 1110662 SPEED LIMIT 65 WATCH FOR THE Maximum legal speed for commercial buses and light trucksn rural mm of liitffftitt designated highways only in t If I O SPEED UNIT 55 to your safety I mtom fun Mn Still the maximum legal speejj permitted in most highly 85 CAAURG COUPE M fWP SBSWtWflHUHs m C4PJW4 El Dor ado Classic 84 MAZDA RX7 75M 85 DODGE HAM 84 S10 DIESEL PU 46M 82 SUBURB A SCOTTSDALE CLEAN 127M 86 CUTLASS 17M 85FORDF150 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