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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 03, 1989
Page
3
AP notes Columbus price changes for eggs to retailers with details by grade size and buyer type. Extra large orders show a 6.0 percent rise, large 5.0 to 5.9 percent, medium around 0.5 to 0.54 percent, with carton delivery terms to warehouses and volume buyers.
Lorain County Farm Bureau Cooperative Association notes yesterday's market close with Wheat at 392 per bushel, Shelled Corn at 277, Cats at 2.30, and Soybeans at 7.35 per bushel. Prices reflect local grain trading activity and dealer quotes.
The Labor Department reported January unemployment at 5.4 percent, up from 5.3 percent in December, while 408,000 new jobs were created, signaling renewed economic growth that analysts fear could fuel inflation and prompt the Fed to tighten credit.
The General Accounting Office urged the Senate Banking Committee to place any insolvent 350 S and L institutions into receivership promptly until liquidation or merger. Bowsher warned delaying would raise costs, weaken financial stability, and push weaker thrifts to chase risky ventures. He called for independent FSLIC funding, separate insurance funds for healthy and unhealthy S&Ls, and interagency help to implement reforms.
President Bush said any plan to rescue the troubled savings and loan industry will not be popular but deposits will be safe as the government continues to insure insured deposits. He met with congressional leaders to discuss options and a potential $100 billion bailout.
Nintendo of America filed an amended federal suit in San Francisco charging Atari Games and its Tengen subsidiary with patent infringement over home video cartridges for the Nintendo Entertainment System. The action follows a prior suit alleging trademark, breach of contract, and unfair competition.
U S candy shipments by type totaled 4 30 billion pounds for 1986 with chocolate remaining the largest category. Beetling trend lines show sugar confectionery and gums also significant but smaller than chocolate. The data highlights sector composition and growth trajectory for that year.
Scripps Howard News Service reports a 1986 tax law change risks costing low income workers refunds from the earned income credit if they skip filing. Families with under 18 children may gain up to 874 dollars. millions qualify but only with Form 1040 or 1040A. Officials urge awareness to prevent lost refunds.
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