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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 13, 1989
Page
8
Trustcorp Inc. said it will take a 35.9 million dollar write-off on downtown Toledo projects and other real estate ventures. This marks its second large write-off in under three months, following a 40.7 million loss in January related to riverfront redevelopment loans.
Kaiser Permanente, serving over 200,000 in northeast Ohio, reported a $20.6 million loss last year due mainly to higher hospital prices and increased use of hospitals and emergency rooms. The firm borrowed from its Kaiser parent to cover the shortfall, the largest since opening in 1969, as membership grew faster than expected. Other local HMOs, including Health Ohio and MaxiCare Health Plans, also posted losses though not as large.
Renewed fears that world inflation may rise prompt cautious trading across major centers. Paris dealers warn higher inflation could trigger further rate hikes while Tokyo and New York markets showed declines. The dollar held near Friday levels as fears of central bank intervention linger. London FTSE opens four points lower at 2081.2 amid mixed early activity.
Drexel Burnham Lambert bars Michael Milken from the firm and blocks others from discussing business with him amid impending charges. The Bush administration proposes a new Latin America debt plan after Venezuela riots, aiming to ease the crisis. Raytech files Chapter 11 in Bridgeport to shield against asbestos claims. Congress considers tax hikes to save $138 billion over 30 years, while BankAmerica faces a shareholder suit over a student loan fiasco. The EC urges US HDTV standards aligned with European DVB approach.
Japan Airlines plans to sell two Boeing 747 100SRs for 15.5 to 23.25 million dollars each to United Parcel Service and Evergreen International Airline. The planes, used as freighters, have operated for 15 years and are being divested due to safety concerns and rising maintenance costs.
When selling a home price is the key factor shaping sale speed buyer quality and eventual profit. Overpricing risks missing prime viewing, as buyers compare with realistic-priced rivals and the first offer may be best. Century 21 Demby Inc. Realtors invites help at 405 Middle Ave Elyria.
In Cleveland, a $13.2 million LTV Steel back property tax settlement faces challenges from Minnesota and a creditor committee. A New York bankruptcy court will hear objections as 11 local communities and county schools were slated to get shares. LTV Corp. filed for reorganization in 1986, with Cleveland officials seeking school agreement on tax abatements for LTV facility upgrades.
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