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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 24, 1995
Page
9
A reader asks about a handwritten will favoring a brother and potential CD ownership by survivorship. Bruce advises legal due process, proper attorney drafted wills, and risks of elder care assets, urging careful family planning and care responsibilities before transferring property.
Readers are invited to send ficts to Smart Money at P.O. Box 503 Elfers Florida 34680. Questions of general interest will be addressed in future columns. Due to mail volume, personal replies cannot be provided.
Federal regulators and the Clinton administration discuss uniting the bank and thrift industries to close a premium gap. S&L insurance premiums near 24 cents per $100 deposits while banks drop to about 4.4 cents, with a proposed one time 83 cents per $100 thrift assessment to refill the fund. Knight-Ridder Tribune
A Rand study led by senior economist James P. Smith warns many Americans especially Black and Hispanic households lack retirement wealth. Top white families hold assets around 655 000 while the bottom 100 percent average under 800 with median white wealth at 90 000.
A Center on Budget and Policy Priorities study based on 1993 Census data finds 11.2 million low income renters faced 6 million available low rent units, creating a 4.7 million housing shortfall. The shortage raises housing costs beyond 30 percent of income for four in five poor renters.
Ford will sell an instrument panel to Honda for use in a future Honda passenger car. The deal, not yet priced, could be around 10 million dollars. Honda builds Accords Civics and soon a new Acura model in Ohio plants at Marysville and East Liberty.
Gannett Co Inc the nation's largest newspaper publisher will acquire Multimedia Inc in a merger valued at 1.7 billion dollars. Gannett will pay Multimedia shareholders 845.25 per share for all 37,865,078 shares outstanding.
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