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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Dec 08, 1993
Page
4
A homeowner guide outlines how to deduct home office costs while avoiding overstatement. It covers qualifying space, percentage calculations, depreciation, inventory storage, daycare rules, and limits tied to actual business income. It notes the IRS may require profit in three of five years or genuine profit efforts to avoid hobby status.
The latest stock quotes point readers to a complete market wrapup in Saturday's Journal-World. The feature outlines key movers, index performance, and notable gains across sectors with outlooks for the coming week.
Local morning quotes show Midland Elevator Lawrence posting wheat at 3.75, corn at 2.87, milo 4.71, soybeans 6.68. Regional commodity listings from Dana Nes and St. Joseph reflect varied livestock bids, including hogs 1200 head with 250-310 lb barrows and gilts down, cattle not established, and futures-like feedlot sales in Kansas City and Missouri markets.
RJR Nabisco Holdings Corp will cut about 6,000 jobs in a restructuring aimed at saving 250 million dollars annually. The company owns Winston and Camel cigarettes, Ritz crackers and Oreo cookies. Chairman Charles M. Harper said the plan seeks earnings growth in 1994.
Southwestern Bell Corp and Cox Cable Communications announce a 4.9 billion alliance to create a joint venture. Southwestern Bell will invest 1.6 billion for 40 percent initially with an option to reach 50 percent. Both firms share management, each holding two executive seats. Cox Cable President James O Robbins will be CEO.
Atlanta based Cox Communications will co own and operate 21 cable systems with Bell Atlantic. They will provide new services to existing networks and pursue acquisitions of other cable and programming operations. A spring definitive agreement is planned with details by fall. Such moves aim to bring advanced products to businesses and eventually to individuals.
U S worker productivity rose 4.3 percent annual rate from July to September, the first gain in six months and the strongest increase in over six years. The Labor Department noted output per hour worked jumped beyond initial estimates, signaling improved efficiency amid an expanding economy.
Mortgage delinquencies, already at a 19 year low, may fall again in 1994 as the economy improves and rates stay near 25 year lows. The Mortgage Bankers Assn reports late payments at 4.21 percent in Q3, down from 4.39 percent, the lowest since 1974.
Washington AP economists cite remarks by Fed Vice Chairman David Mullins as a signal that short term rates may rise after the year begins. He notes inflation risks with rising gold prices and a bond market uptick, excluding oil, as signs investors fear inflation.
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