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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 14, 1996
Page
2
More than 2,000 former TBM employees plan to sue the Internal Revenue Service to recover about 46 million dollars in taxes paid on severance benefits. They claim the severance counted as a settlement of personal injury claims because they signed a release absolving IBM from liability upon leaving.
New York AP reports shoppers are swapping lavish gifts for durable purchases and experiences. Auto, travel and home improvements are rising as Christmas spending shifts, with retailers losing a share of holiday sales while consumers seek lasting value. A survey shows many prefer all expense vacations over traditional gifts and some families fund major renovations as holiday treats.
In Gar/land Nebraska 77 year old Art Schaefer faces propane costs rising from 76 cents to 117 dollars a gallon for a 500 gallon tank. nationwide about 14.3 million households see prices up about 50 percent due to cold weather supply disruptions and demand from farmers and grain processors.
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