Masonry Magazine May 1976 Page. 21
Consumer goods makers have had insurance canceled, premiums increased, coverage restricted, and insurance limits cut. Some lines having trouble getting coverage include auto parts, toys, drugs, sporting goods, paints and coatings, plus most plastics. Also hit may be retailers, component makers, garden equipment manufacturers, and some in apparel or electronics.
Some possible remedies are being suggested to the government. They include no-fault liability insurance, limits on general damages and attorney fees, statutes of limitations on claims.
TREASURY REVIEW OF DEPRECIATION RULES
MAY HOLD SURPRISES for industry. The review is now under way of the Asset Depreciation Range created in 1971. ADR was designed initially to provide for the liberalization of the tax base. But Treasury review of the airline industry brought an unexpected finding: the depreciation base period should be lengthened from 8 years to 12 years. It was expected that the review would bring a proposal for a shorter period. There is no indication yet that the decision will actually set a precedent.
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In the Bicentennial Spirit, Ampress Brick Company, Inc., Des Plaines, Illinois, has the world's heaviest "Old Glory" on display. Hale W. Olson, President of Ampress, commissioned the pictured 6' x 11' rendering of our country's flag, fabricated entirely of Ampress brick. The flag weighs over 2,500 pounds and contains 400 red, white and blue brick.
THE DEMOCRATS SEEM LIKELY TO KEEP CONTROL OF CONGRESS next November. As far as the Senate is concerned, it's just a matter of simple arithmetic; 33 seats are up for election-22 held by Democrats and 11 by Republicans. Even if the GOP took most which is unlikely they won't have a majority. Over on the House side, a changeover is always a possibility, theroretically. All 435 seats in the lower chamber are up for grabs in even-numbered years. But the polls show that a big majority of voters call themselves Democrats.
FIRMER OPPOSITION TO WAGE AND PRICE INCREASES is in the works from Washington-not mandatory controls, to be sure, but a new way of applying the oversight role of the President's Council on Wage and Price Stability. Hereafter, for example, the Council may reveal its views on what is a fair wage and price increase before the hike is set, to line up public opinion.
masonry • May, 1976
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