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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 24, 1996
Page
13
GM will cut back gold card rebates and limit annual earnings to align with blue card terms, halving the gold card to 500 dollars a year and 3,500 over seven years while preserving travel and warranty perks. The change follows GE’s new account maintenance fee and targets high rebate users.
Procter & Gamble moves to promote Olean, its olestra brand, through a major ad campaign highlighting test market results in Cedar Rapids, Eau Claire, and Grand Junction. FDA approved fat-free Pringles launch in Columbus, while CSPI and critics warn of gastrointestinal side effects and urge caution.
Seymour Cray, famed for building the first supercomputers, was critically injured in a three car collision in Colorado Springs. His Jeep Cherokee flipped three times after being struck by another vehicle during an improper lane change. He suffered severe head injuries a broken neck and ribs and remained on life support at Penrose Hospital after brain swelling surgery.
Inflation fighters at the Federal Reserve clash over scorching growth and inflation risks. The Federal Open Market Committee meets before the November elections as debate intensifies and leaks prompt FBI involvement. US Treasury three and six month bills rose to the highest levels in weeks. Canada auto workers target GM Canada amid tougher talks likely to affect US Chrysler negotiations as UAW pressures Ford and Chrysler paths.
TRW Information Systems and Services rebrands as Experian after selling 80 percent to an investor group led by Skilling. The move aims to expand worldwide with faster credit checks and tailored marketing data. Investors Bain Capital and Thomas H. Lee Co. back the buyout, while rivals push new products amid privacy concerns.
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