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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 07, 1994
Page
5
New York markets ended mixed after a day of rallying bonds and slipping stock values. The Dow fell to 9768.52 while the Nasdaq rose to 742.90 as trading resumed after a two minute World War II commemoration.
The GAO said 15 percent of 1,894 letters from Cincinnati and Atlanta service centers were flawed in 1992, an improvement from 48 percent in 1987. IRS noted upgrades including 54 computers and ongoing letter-writing improvements, but problems persist in responses, timing, and resolving issues. The report highlights misaddressed copies, missing forms, delays, and unresolved taxpayer requests.
Sara Lee Corp plans a global workforce reduction of 8,000 to 9,000 positions to streamline after expanding beyond pastries into hosiery and apparel. Most cuts come from knitwear plants, with over half in the United States, to offset sales slippage in Hanes Leggs and Champion lines amid intense competition.
North Hills Affordable Housing sponsors a community event marking the renovation of the former Benedictine Academy into 16 low income transitional apartments. The six month project includes services for homeless women with children and tours of the site. Government and bank partners provided funding, including a $112,500 Affordable Housing Program grant from the Federal Home Loan Bank of Pittsburgh.
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