New Braunfels Herald Zeitung (Newspaper) - July 8, 1987, New Braunfels, Texas
Commerce & Industry
Wednesday. July 8 1987
Herald-Ze/fung New Braunfels Texas
Texas Business Today
Warnings good protection
President Has Ordered the Flaking
of the Few training Supply-Side Advocates for Safe fossae Through the Condors of Congress
Bv MARY SCOTT NABFRS
Dear Commissioner Nabers I have been reading your columns arui I notice that you often emphasize giving employees written warnings or reprimands Is there a law that requires an employer to do this before he can fire somebody
Dear s w No. there is no law which requires you to give written warnings before terminating an employee It is, however, good business practice and good protection for you as an employer to do so
\ written warning, signed by the employee, is excellent proof that you notified the employee of the problem. gave him or her an opportunity to Like corrective action, and advised the employee of the consequences of failure to take such action
Verbal warnings or counselings are often forgotten, misconstrued, or underestimated as to their importance
Deer Commissioner Nabers Mew
much money can a person receive in umemployment benefits and how long can they draw it
Dear w h The amount of benefits available to a claimant depends upon their earnings Currently the maximum weekly benefit amount is $210 for 20 weeks a total of $3,460 The minimum weekly benefit amount is $23
In order to qualify for the maximum benefit amunt, an individual must have been eamiru approximately $20,000 a year at least a year and a half prior to the date of the claim
GV phone co-op meets
I h e ll u a d a I u p e Valley telephone Cooperative. Inc., held its 32nd annual membership meeting June 24 .it New Braunfels ('mc ( enter
( urbs Bremer, chairman of the b*»ard. presided over the meeting. wha t; was opened with a trumpet '. i. >f tin- National Vnthem by New Braunfels Highschool senior Bt af! B rgfekl The Very Rev Terrance Noland of St Joseph s ( athold Church at Honey Creek delivered the invocation Md Mullins Comal County deputy »er\ ed «*' sergeant al arms and parliamentarian was GV TC a . a1 counsel Marion Bort her* Bremer in his remarks to the member owners reported tm th* •operatives sound financial
ne co-op s txm-Unued progress (luring the ve.tr GVTC assets now stand at mitre "a J ' :nia. -i Membership in tile isN«^»efativr increased by 6 per rent during 1986
Bremer announced that the teieph -ne co-op was returning i apital t redil refunds in ext ev> of $4 ■ » t tis* memtxer-w : s
ta payback t more than $2 aition Tor the past la years, the operative fit' not had t. in '•ase its rates for basti
ciliated service and Bremer
announced that the co-op has no plans to institute any sort of Ia1 serv ice int rease this y ear Five directors were elected I ions Lucas, district I Xiv in Saur district 2: Harry K:ar.
district J. VV \ Lott, and J B laster, district 3 Membership approved a od percent increase in directors’ meeting fees Jester also was honored for his 23thanniversary with GV IV Vue president Lester received a special award for his years of work with rural telecom m imitations General Manager Ken Branmes presented 13 employees with service awards \warded for fivt years of service were Jan Alexander Jim Bob Buren Busti:tar) Hindman. Lam Kraft Hudolph Hoggenpohi, Lorine Kidgdon. atni Bruce I leken Rf Ring service awards f• r . tears of service wt*re Gloria (lass and Jimmie Kahe Service awards for 13 years of service went to Glenn At leer arui Virgo Schneider Kayniond Willeford received a 'ervice award for 20 years of 'ervice and Giltiert Philippi!* received an award tor 25 years of service George Saur was recogm/ftl as GA Ti’employee of the year
Dear Commissioner Nabers Can a person draw unemployment benefits and Worker s Compensation at the same time0
Dear I T No. The Texas Unemployment Compensation Act provides that a person receiving Workers Compensation payments during a period when he would otherwise be eligible for unemployment benefits will be disqualified from receiving unemployment benefits
Vou should tx* aware, however, that this disqualifying provision does NOT apply to a settlement payment made by your Worker’s Compensation carrier rn lieu of litigating a contested Worker’s Compensati »n claim
Nabers represents 336.000 employers throughout Texas If you have any questions, write her at Texas Business Today. 614 Texas Employment Commission Building, 13th and Congress. Vustin. Texas
Withdrawals surpass bad loans as S&L worry
DALLAS AP Stun* Texas thrift saddled with bad loans are trying t** fen by depositors who are pulling their d i,. the millions in what one analyst called greed and fear
Large depositors withdrew $j2< fin I ii • -the largest w ithdra w a * sn far this year according ti* thi Ceder a. Hume I ■ Figures aren t aval iable yet tor May ar : Analysts and regulators said those were cashing in their high-mterest ; Pileate* of deposit at troubled thrifts . them to healthier institutions with low er We see tw em*-ti lls '•' < Vt ie fear, said Frank Anderson. ,« fina sultan! w ith F ergu>* in &; (. o * J Ir\ in.
While s me let st rv lately * .iv x renewed caution. Anders :• beaeves th greed has won out over fear
People want the f u fief r it*-* ,»t flu stitutlons but they ai' Wa! !' < .
security It depends r wt ether \ . a well or sleep Well, hr 'aid I he greatest headache for leva- ’hi decline tht* fi(NI filii t*rtifi<
Mike I- igar of the Federal H"ine Loan I The cash shortage prompted a 2 J crease ui savings and loans Lakin, deposits at interest rates as min h as . over rote- paid by Uiruts outside I George M Barclay, exe* utivt . <
the Dallas FHLB The 2 2 percent fig nuali/ed av er the past six months, he sal Vbout ll 6 billion m < ash re'erve* I
irea< f a n out I
held on account at the Dallas EMLB was withdrawn in the past six months ending rn May. Barclay said But the Dallas home loan bank had gained bai k $1.1 billion of that amount by June I. 'aid Edgar
Bar- lay said as much .i' $2 billion to $4 billion is needed now at the Dallas EMLB alone to improve member institution'' liquidity F'f that reason, analysts and some regulators believe a stronger congressional bailout bill is needed fur the Federal Savings and Loan Insurance Corp,, which guarantees individuals Ie;i .sits up to $100,000 Ie< n.nit ally. the FSLR is insolvent, because it ,i iss the turn!- to cover the thrifts' projected .labilities said \r. ierson. the financ ial consultant Thrifts an -per.tte with bad loans but they must maintain iequate deposits to stay in business There is no question that a higher re* apl lavation bill is needed, he said
!’ Texas we will need $5 billion ti $7 5 bilbo! ii t' e next five years, he said The House plan say- > bi.,. n nationwide, the Senate s is about $7 3 billion and $15 billion was proposed by the Reagan administration and the Treasury, and supported by the Federal Home Loan Bank in
Wa-'.- • •:
Meanwhile the Dallas FHLB has approached several brokerage houses to help ailing Texas
'They have a couple of nationwide programs to send money in the direction of thrifts that have lutflows. said Doug Green with the FHLB Board
Under such programs, securities firms mak* deposit* at troubled thrifts that have suffered if greatest withdrawals.
Merrill Lynch & Co . which has mostly ti. termediate-term CDs in more than IOO thrift around the country, ha'- been asked to participle in the plan, said company spokesman Jan,. Flynn in New York "Ail we have done as investment bankers a' people interested rn savings and loans is to say w would love to look at them and love to be part the solution if we can." said F iynn He said be couldn't reveal details of th prop..*als He denied published reports lf. Merrill I.ynt h was considering withdrawing at* $100 million in deposits from a Holist a thrift a* would roll .ver about $30 million w*>rth of ce tificates at another institution for only 90 days.
Our programs are such that we are not in position to withdraw funds prior to maturity without fat mg substantial penalties, be said A Texas savings and loan official said the net for ailing thrifts to pay interest rate premiums as much as two percentage pomes above rate paid by out-of-state institutions is hurting bust; <. industry-wide Healthy institution^ must rem... competitive with the rates
st cutting out
said Gerald Hartman, president of ( un Savings and Loan in Fort Wort! Fnc:.:> SAT-a are betru penalized by th The i . the SAL' in Texas are healthy it - th * Texas 40 that are b*>‘ -.ting rat* - and impa* our bottom line
YOU CAN C0UNT0N KRU EGE USED CARS & TRUCKS.
Trust Krueger wheels to make those summer-time road trips!
Tax policy: A policy of change
NUW YORK AL
Dei** the United State*' have .i lax
Ii L*dl I uiign-vs jessed the Economic Recovery lax V t uttmg personal tax rate' bv 23 percent But in the same y ear it raixMSocial Security taxes by $28. million In the following year. it added to tile lax Like through a $ ll billion lax Equity and Fiscal Responsibility Act In I *A( the .as dine lax wa' raised $28 million And in the '.line year Sn ta! Security taxes rose $90 billion Ii 1984 the Deficit Reduction Act added $101 billion to tile Lex UU. thus erasing whatever taxi ut benefits remained from the 1981 tax cut
Atter a year * wait, Congress agreed Rial tax*1' were t.K. high. and so it passed the 'Tax Act *»f 1986, designed to lessen the tax burden on most people ev en if it raised it on businesses
FN en before passage of Rial at t, however, work had begun on (flanging the tax laws again In ta* I, some members of Congress who agreed to passage of the I98t> act were simultaneously working to change it Other members of Congress looked at what had been done, expressed die view Rial they hadn t intended to pass ev ery thing that, belatedly. they had found in the bill And so they too laid plans to correct their handiwork Now tile House Ways and Means Committee has compiled more Rum IU* possibilities fur raising taxes again, demonstrating once more the amazing ability of lawmakers lo rejuggle figures past, current and those to come
In the list Riere is something for everyone Among the possibilities are excise tax increases on cigarettes to 32 cents from 16 cents a pack; a luxury excise lax on furs, jewelry' and perfume; a rise in beer
and wine taxes to the same lev*-, as tm it1 ’ >t di t .1* I spin ta
More wideranging is tile potability t rat- IL* marginal tax rates, the ones that were cut ..*'t v< .ti .t j percent surtax a capital gains tax at death .» se-, unties transfer tax another Ux on oil; taxing worker benet its This creativity in taxing matters conies a i* ■ ti * extreme pressure of a budget deficit, one that ever y rn agrees must be corrected but which nobody seems aide to correct via the alternative route of cuts in spending But in spite ut thi' pressure, there remains what many people would view as a sense of unreality about a tax change The president says he won t allow an increase And members of Congress seem loathe to t*- associated with one
It is a pre-election year Should Democrats allow themselves to be associated wilt) a bill that would raise taxes Should the President Lr allowed to stand as a public hero for vetoing such efforts Meanwhile, appearances must be maintained Arguments soon will be heard on how to raise revenues a process that is bound to bring tile pressure groups back to Washington and reopen agreements that were closed a short time ago.
As the process unfolds, however, sonic* . • »1 and unexpected new* has developed, even it it represents a miscalculation by those responsible for last year's tax cut Revenues are higher this year than has been anticipated
Is there a tax policy "
Wags will say there is A policy of frequent change More sober viewers, seeking to discern a pattern by taking the longer-term view. nught hav e to agree
WATCH FOR THE SIGNS...
Maximum legal speed for cars, motorcycles.
commercial buses and light trucks in rural
zones of Interstate designated
highways only V J
...it’s to your safety advantage.
A courteous reminder from the OPS Troopers.
Still the maximum legal speed permitted in most highway zones.
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