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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 14, 1988
Page
3
The new tax law makes mortgage interest and property tax deductions fully available for up to two homes. It also lowers the top personal income tax bracket, increasing after-tax cash for homeowners. CENTURY 21, Demp y Inc. Realtors in Elyria invites inquiries at 405 Middle Ave. 323-4641.
Firestone chairman John J. Nevin will not meet Leopoldo Pirelli until Firestone board advisers evaluate Pirelli's 1.9 billion buyout offer. Nevin said the board needs to review the bid before any talks while management compiles background information with outside advisers. The company must respond by Friday and previously planned selling 75 percent of its tire unit to Bridgestone for 1.2 billion.
Federated Department Stores says it still aims to merge with Macy and urges shareholders to tender to Campeau Corp before Tuesday to avoid possible losses, with a New York court to rule on the bid challenge. Campeau offers 75 per share for 80 percent plus 44 for the rest, valuing the offer at 68 per share.
The Commerce Department reports February sales up 0.6 percent helped by autos, while January’s figures were revised to show a 0.2 percent drop, underscoring a weaker consumer sector than earlier estimates indicated.
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