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Newspaper
Lincoln Journal
Location
Lincoln, Nebraska, United States of America
Date
Sep 01, 1977
Page
7
Farmers report weak grain prices drive reduced profits though yields are up. Large farm purchases and equipment parts sales rise while revenue projections for June anticipate very slow growth. Observers warn losses may be carried back against past profits under state and federal tax law.
On September 1 1977 in Lincoln Nebraska Chunka and Peters stated there is no evidence yet of unusually high rebate demands from carryback adjustments on prior year taxes. Peters cautioned that farmers might still show larger than expected rebate demand, with impacts likely measurable only after another year.
Ford Motor Co may widen price spreads between large and small models in 1978 to push buyers toward compacts and subcompacts. Production of bigger cars could be trimmed if fleet mileage fails to hit the 18 mpg target, with penalties for noncompliance seen as severe. The company cites 26 mpg for the two door Fairmont Zephyr as a potential fleet booster.
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