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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 02, 1990
Page
6
The Supreme Court agreed to review Arkansas tax on cable TV while exempting satellite services and print media. The 1987 ruling against selective taxation of publications guides the dispute, with echoes of refunds and broad questions of media tax parity.
The Supreme Court will rule on whether savings and loan associations may claim tax losses from reciprocal mortgage loan sales. The case centers on Centennial Savings Bank of Greenville Texas and a $419 million tax impact, with prior rulings split among circuits. The decision could affect other troubled thrifts and IRS strategies.
The National Association of Purchasing Management says the manufacturing sector fell for the third straight month to its lowest level since December 1982. Production, new orders, imports, inventories and employment dropped while prices surged, with the price index at 73.4 percent the biggest monthly gain since 1975.
McDonald's in Moscow nearly doubles the Big Mac price to 6.95 rubles, making a meal nearly unaffordable for the average Soviet worker. The rise, attributed to higher meat costs, follows government price changes and the joint Soviet Canadian venture decision. The chain remains popular with long lines and plans for 19 more restaurants in Moscow.
Patapsco Designs Inc. dedicates a 47 000 square foot Westview Corporate Campus site in Frederick as its fourth relocation since 1977. The facility hosts 65 engineers and 30 000 square feet of manufacturing, with Cipher Digital and NBC, Texas Instruments, duPont, Potomac Scheduling, and Circuit City Stores among its customers.
In Peshki, northwest of Moscow, about 100 factory workers soldiers and volunteers dig through rotting fields to salvage potatoes. A winter shortage looms as rains flood the fields and stores run dry. Soldiers and civilians endure cold 40 degree weather to fill sacks and rationed purchases.
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