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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 14, 1996
Page
14
London based Botaim Company PT announced plans to raise annual profits 8 percent over five years and reach about $4.5 billion by year end with capital spending up 4 percent yearly. BP chief John Browne outlined the target as profits expand to the turn of the century.
New York AP reports billionaire investor Warren Buffett has permission to raise his stake in American Express Co to as much as 17 percent, adding to his existing 10.2 percent holding. Buffett and his firms own 49.5 million Amex common shares.
Burkin City officials end a seven year Mel-Ba abatement after the Sugar Lane manufacturer was sold in January. New owners Ramsey and Scott will receive no 1996 tax breaks as the council reviews 1995 relief. The company’s payroll peaked at 29 early last year and ended 20 by year’s end. York International’s higher taxes were offset by two exemptions. auditors say a 95 percent allowance was used for both, an error later corrected.
Liggett Group agreed to finance cessation programs for smokers tied to its L M and Chesterfield brands but provided no cash to plaintiffs. Lawyers state no legal fees were negotiated and the court will determine any payment by Liggett above program funding.
Tsuneo Takahashi, senior trade adviser to Ohio for the Japan External Trade Organization, returns to Japan after three years. Ohio exported about 2.3 billion to Japan in 1994. 1995 figures unavailable. He notes housing materials are strong in Japan. Norwalk Furniture cited for inroads. He urges patience, quality control, and cultural understanding.
The GM walkout at two Ohio parts plants halts production across North America as 2,700 workers in Dayton protest outsourcing plans. With 21 of 29 plants idled and thousands of suppliers affected, experts warn the strike jeopardizes 1.5 percent of GDP and pressures looming national contract talks with the UAW.
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