IRS relaxes vehicle record rules for farm and business use
The IRS proposed easing detailed mileage logs by allowing 80 percent business use without records for farmers with over 70 percent nonfarm income from farming and 70 percent business use logs for vehicles in typical service roles. The changes aim to reduce paperwork while preserving the substantiation requirement and penalties for noncompliance.
MENTIONED IN THIS ARTICLE
Jim Luther
Washington
Congress
Internal Revenue Service
IRS
Senate Finance Committee
The
Sanchez grave condition after cardiac arrest at hospital
Joseph Sanchez, 54, GM executive and head of the Saturn project, suffered a heart attack Tuesday and then a cardiac arrest Friday. Listed in grave but resuscitation efforts succeeded. he remains in critical condition at Sparrow Hospital.
MENTIONED IN THIS ARTICLE
Lansing
Mich
Joseph Sanchez
General Motors
Sanchez
Carol Schwing
E.W. Sparrow Hospital
Dividend Increase at Iowa-Illinois Gas and Electric
Iowa Illinois Gas and Electric Co raises quarterly dividend to 68.5 cents per share from 65 cents. First payment at the new rate is March 1 for shareholders of record February 4. Regular preferred stock dividends also declared, payable May 1 to record holders April 12.
MENTIONED IN THIS ARTICLE
Davenport
Iowa- Illinois Gas and Electric Co
Midland Financial Insurance Sales Sold to National Travelers Life
Midland Financial Savings and Loan announces sale of Midland Financial Insurance Sales Inc. to National Travelers Life Co. effective immediately. Terms not disclosed. National Travelers Life Co. is an Iowa mutual with over 1.7 billion in force. Midland Financial is Iowa’s largest state-chartered thrift with over 714 million in assets and 24 offices.
MENTIONED IN THIS ARTICLE
DES Moines
Midland Financial Savings and Loan
Midland Financial Insurance Sales Inc
National Travelers Life Co
Midland Financial
Iowa
Playboy Channel Dropped by Heritage Systems
Heritage Communications Inc based in Des Moines says seven Heritage cable systems will drop the Playboy Channel an adult service. Four Iowa systems in Des Moines Ames Marshalltown and Clinton will drop it along with three in Colorado. Marketing director Kim McAdams cites economics as the reason.
MENTIONED IN THIS ARTICLE
Des Moines
Heritage
Heritage Communications Inc
GM to Convert Lansing Axle Plant for Front-Wheel Drive Cars
General Motors announced it will convert Lansing Plant 2 in Michigan from axle production to front-wheel drive car manufacturing by 1987. The facility will close in June and reopen with about 500 employees retained to build Buick Oldsmobile or Cadillac models, though GM gave limited details.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Lansing
Mich
Buick
Oldsmobile
Cadillac
Japan Tops World Auto Output for Fifth Year
In 1984 Japan led global auto production with 11,465,000 vehicles built, a 3.2 percent rise. December output reached 912,188 units, up 0.7 percent from a year earlier, according to the Japanese Automobile Manufacturers Association.
MENTIONED IN THIS ARTICLE
Tokyo
Japan
Japanese Automobile Manufacturers’ Association
Best stock week since summer gains push markets higher
The stock market capped a busy week with a Friday advance led by financial services. The Dow rose 5.63 to 1,276.06 as weekly gains reached 48.70 and volume cooled from Thursday. Major indices rose with Merrill Lynch PaineWebber American Express and Phillips Petroleum among notable movers.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Federal Reserve
Fed
Merrill Lynch
Phibro-Salomon
E.F. Hutton
Minneapolis
Irwin Jacobs
Phillips
T. Boone Pickens
Mesa Petroleum
Exchange
Ironclad job security pact boosts Harvester UAW leverage
United Auto Workers and International Harvester Co reach a three year contract ratified by 6205 to 2394 that secures job hours guarantees for about 11500 workers and restores concessions. The deal includes wage rises, restored benefits, health coverage improvements, and a plan to recall laid off workers if contracted hours aren’t met.
MENTIONED IN THIS ARTICLE
Chicago
United Auto Workers
International Harvester Co
UAW
Peter Laarman
Laarman
Harvester
Detroit
Bill Casstevens
Agricultural Implement Division
Agricultural Implement
Tenneco Inc
Houston
JI Case
Tenneco
Durable goods orders surge while home sales peak in four years
U S durable goods orders rose 14.9 percent in 1984 to a record 1.211 trillion while existing home sales rose 1.1 percent in December, pushing 1984 totals to their highest since 1980. Analysts cited lower mortgage rates and strong growth signals though December defense orders fell from November peaks.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Allen Sinai
Shearson Lehman-American Express
Sinai
National Association of Realtors
Federal Home Loan Bank Board
Commerce
Malcolm Baldrige
Unions oppose Conrail sale to Norfolk Southern
Unions representing more than half of Conrail's 35,000 workers oppose selling the freight railroad to Norfolk Southern Corp. The company is favored by Transportation Secretary Elizabeth Dole, though the department says no decision has been made.
MENTIONED IN THIS ARTICLE
Washington
Conrail
Norfolk Southern Corp
Norfolk Southern
Elizabeth Dole
Avanti cars returned after foreclosure seizure ends
Eight Avanti sportscars confiscated in a foreclosure were returned to Avanti Motor Corp. Production line workers resumed work as 1st Source Bank officials said the sheriff's seizure stemmed from a breakdown in negotiations over finances. Avanti owner Stephen H. Blake said they resolved the problem and are back to making cars.
MENTIONED IN THIS ARTICLE
South Bend
Ind
Avanti
Avanti Motor Corp
1St Source
Bank of South Bend
Stephen H. Blake
Sticker shocker In Survey
DETROIT AP Half the dealers surveyed by Ward s Auto World say they charge above the sticker price for popular models. The survey of just over 200 dealers found urban dealers more often mark up prices, while college town and rural dealers quoted reluctance to do so.
MENTIONED IN THIS ARTICLE
Detroit
Ward
Auto World
Drew Winter
Also Mentioned on This Page
MONEY
Woelkers
7Th Street SE
Cedar Rapids
Zazza’s
Sheraton Hotel
Centurion
Zazza
Sheraton Inn
33Rd Ave
Winter
Chrysler Corp
Louisiana
Uary
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