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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 11, 1997
Page
13
Haagen Dazs announces its Low Fat ice cream debut on Fat Tuesday noting three years of development. A Tampa celebration marks the launch, with Low Fat already in shops and set for nationwide grocery availability in April.
The Treasury sold three month bills at 5.02 percent, up from 5.00, and six month bills at 5.07 percent, down from 5.08. The actual returns implied by discounts run 5.16 percent for the 10 000 bill and 5.28 percent for the six month. The Fed reported one year bills yielded 5.53 percent, down from 5.62.
Ar-Jay Building Products Inc in northeast Cedar Rapids has been sold by Richard Felter to Ralph Palmer and his son Jeff Palmer. Terms were not disclosed. The firm, founded in 1949, sells kitchens lighting fireplaces and vinyl windows and siding and plans to expand product lines and market area within three years.
Westinghouse Electric Corp agrees to acquire The Nashville Network and Country Music Television for 1.55 billion dollars, with Gaylord Entertainment exchanging stock. CBS aims to build a stronger cable presence after its 1995 purchase, expanding units like TeleNoticias and a March 31 CBS Eye On People launch.
A highway safety group urges Congress to keep a freeze on triple trailers and push for hourly pay for drivers as part of the new Intermodal Surface Transportation Efficiency Act. The group argues federal rules should govern truck sizes, while proposing flexible hours to address fatigue. The American Trucking Association counters that states should decide larger-truck allowances and favors updated driver hour rules.
Federal Reserve survey shows 18 of 46 banks tightened credit card standards in the prior three months, with 12 of 50 firms tightening other consumer loans. Six of 48 eased home equity rules, and mortgage standards largely unchanged. Business loan standards show slight easing.
The article explains three methods for calculating capital gains when selling mutual fund shares: specific identification, FIFO, and averaging. Specific identification minimizes tax when investors instruct which shares to sell. FIFO often yields the largest gain. averaging bases gains on the average cost of all shares, offering a middle option.
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