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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 04, 1980
Page
6
Prices slid in early trading in New York as the Dow Jones average dropped 6.99 points in the first half hour. Declining stocks outpaced advancers by about 3 to 2 among NYSE issues. Analysts had anticipated some decline after 15 weeks of gains, following last week’s 13.39 point Dow increase.
Parker Hannifin Corp air borne division in Elyria plans a fall construction project to merge two existing plants into a 24 000 square foot expanded facility on the same site. The project adds test labs stock areas and parking while relocating offices to the first floor to boost production for general aviation components. The Dow Jones Industrials fell 3.84 to 931.48 as week gains narrowed.
Two tales frame a rising borrowing scene in the United States as millions seek to cash in on inflated home values through second mortgages while state laws block or restrict access. Industry observers foresee record lending while advocates decry limits that push consumers toward refinancing or underground lenders.
Senate subcommittee reports the IRS clings to voluntary compliance and limits law enforcement access. It urges amending the Tax Reform Act of 1976 to restore aggressive tax enforcement against drug traffickers and organized crime, creating a separate criminal investigations director.
The National Law Journal reports the IRS will not usually jail tax cheats unless cheating exceeds thresholds. An July 15 memo from Thomas Clancy directs agents to focus on evasion above $2,500 annually, while smaller cases may be left to civil penalties. The memo, circulated in Los Angeles and possibly shifting rural enforcement, does not redefine vast majority civil handling.
New York based article outlines auto insurance basics and no fault plans. It covers required coverages, bodily injury limits, deductibles, and the importance of shopping around. It notes state differences, a poor buy for low limits, and guidance on theft, uninsured motorist, and collision options. It also mentions international considerations for Canada and Mexico.
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