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PAGE 15 - PLAINDEALER - FRIDAY, FEBRUARY 4,lMf-'l Here And There In Business IN MBA- Dewey L. Lytle has been accepted into the winter class of of the evening MBA program at the Lake Forest School of Management. Lytle Life Underwriters Back 4 Stand On Cost Information who is director of Ancillary Services of McHenry hospital, lives at 1918 W. Oakleaf drive in McHenry. As a student at the School of Management, Lytle joins over 350 other practicing managers who are obtaining their advanced degree in business management at night or on Saturdays at the school. Rose Zemeckis "Elite" Winner Kelly Services named Rose Zemeckis quarterly winner of the Kelly Elite program, according to Tony J. Zahn, regional manager of the "Kelly Girl People". Ms. Zemeckis, a resident of McHenry, was nominated for the Elite honor by her supervisor, Mary Eve Gemmell, from Kelly's Libertyville office. She was recognized for her exceptional performance in her marketing assignments and for living up to high standards of performance. They include adaptability to each new situation, a cheerful attitude, a natural ability to do well in given circumstances, availability, professionalism and loyalty to assignments. In addition to the honor, Zemeckis received a gift certificate. McHenry Man Is Promoted Richard J. Duellman has been promoted by directors of the Bank & Trust company of Arlington Heights from loan officer to assistant vice- president. Since joining the bank in 1974, Duellman has had experience in all phases of operations, including manager of the Belmont facility, assistant manager of the North Point facility, head teller, assistant cashier in the Personal Banking department, as well as bookkeeping and customer service positions. He was appointed a Loan Officer in February. 1980. Duellman resides with his wife and daughter in McHenry. i if* Nursing Home Joins Jamboree •<, . i . ' i, .. . • .i One more McHenry county nursing home has announced plans to par­ ticipate in this year's Rock 'N Roll Jamboree to benefit the American Heart association, bringing the county total to two participating homes. The newly registered home and coor­ dinator is Royal Terrace in McHenry. The Jamboree, held during the first three months of the year, is a national event sponsored by the American Health Care association. It got its name originally when residents of nursing homes rocked in rocking chairs and rolled in wheel chairs to earn pledge money for the Heart association. This is still done in some areas, but funds are mostly raised now through such events as wheelchair basketball games, spaghetti and chili suppers, kissing booths, cake walks, etc. The McHenry County Association of Life Underwriters and its locally affiliated members have continuously anounced support of efforts to provide the highest measure of protection and service to the insurance-buying public at the most reasonable cost. Developments, such as the Model Life Insurance Solicitation Regulation approved by the National Association of Insurance Commissioners and availability of Buyer's Guides, result in insurance consumers having access to information which assists them in their selection of appropriate life insurance coverage. Numerous factors enter into the evaluation of the best kinds and amounts of life insurance coverages and together are considered by MCALU to be more relevant for the individual consumer than the isolated aspect of cost. Any consideration of life insurance which ignores the differing circumstances and needs of the particular buyer, variations in policy provisions, or services ren­ dered by the company and agent would be incomplete and could lead to the detriment of the buyer, a spokesman said. The cost of life insurance has gone down over 22 percent in the last 20 years. A recent survey of consumer ex­ perience in the marketplace by the American Council of Life Insurance and the Life Insurance Marketing and Research Association showed 83 per­ cent of respondents said the agent was helpful in explaining policy cost, and a similar proportion was satisfied with the cost information received from the agent and the company. ' These and other studies also demonstrate that most consumers feel they understand terms and provisions of their policies fairly well and are capable of making informed decisions regarding their life in­ surance policies and relative costs. The McHenry County association believes that discussions of life in­ surance should be attended by the realization that no single factor is determinative of the best insurance buy for all individuals, but that every relevant factor must be carefully reviewed and analyzed. This can best be accomplished with the competent advice and service of a competent life insurance agent. 3 RENOVATION COMPLETED-Geo. P. Freund, Inc., has recently completed the renovation of the front area of the building at 4102 Crystal Lake road, McHenry.The business is now in its forty-fifth year serving the McHenry area with a variety of farm, construction and lawn equipment needs, it was founded by the late Geo. P. Freund in 1938 and is now owned and operated by his three sons, Geo. M., Jim, and Bob. Together, they represent over 100 cumulative years of knowledge of their business. They employ nine full time employees as well as seasonal, pa^ln time help. STAFF PHOTO-WAYNE GAYLORi) The New Withholding Law AT SUPER BOWL-Jim and Katherine Stillings and son Tom, center, went to Super Bowl XVII in Pasadena, Calif., as grand prize winners of the Chicagoland} Chrysler-Plymouth Dealers association's I'Thisfiayln Sports' contest, The Stillings, residents of McHenry, filled out the winning entry at the Richmdrid agency. More than 100,000 entries were received overall from the participating dealers and from the Chrysler-Plymouth 'This Day In Sports' exhibit at ChicagoFest. EARNINGS DECLINE Modine Manufacturing company has reported that 1982-83 third-quarter net earnings were down 59 percent to $814,000, or 28 cents per share, from the $1,981,000, or 68 cents per share in the same period of the prior fiscal year. The quarter's sales were $41,306,000, a 21-percent decline from the $52,170,000 in 1981-82. WOODS IOC K I MIA I Rl N1 \l N S 1 K1 I I - .liisl Oil 1 tii' Si|iiarf \dulls S2; I I \ I ndi-r SI.50: Mulimes SI.5(1 XI5-.V1H-H555 About 40 years ago, Congress passed a law requiring that federal income taxes be directly withheld from paychecks, instead of being paid at the end of the year. It was then called an "emergency" measure to help finance World War II. Last summer, as part of a bill to raise federal revenues, Congress decreed that taxes will also have to be withheld at a rate of 10 percent - against interest on savings and dividend payments. A part of the new law due to go into effect in July of this year will require all institutions that make interest or dividend payments to their customers to withhold 10 percent for federal taxes. This part of the law goes into effect July l, 1983, and as a result, savers and investors will lose at least $1.5 billion a year. How will it affect you as an in­ dividual? Let's say that you are due a $200 interest payment in July and you plan to leave it in your bank to com­ pound and make money for you. Under the plan, you will have the use of only $180 of your interest payment. The other 10 percent, $20, will be withheld for the Internal Revenue Service. You will have lower earnings to build on. In fact, it is estimated that the public will lose at least $1.5 billion because of lost compounding and dividend reinvestment opportunities. The government says that its pur­ pose in raiding your savings is to crackdown on tax cheaters. Let's look at the facts. Since 1962, federal law has required banks, other financial institutions and corporations to report to the IRS records ofcinterest and dividends paid to the public. At the end of the year, the public receives from the paying institution a copy of these reports, called 1099 forms. The public is required by law to report and pay taxes on this "1099" income when they file their taxes at the end of the year. To ensure compliance, the IRS generally matches the 1099 forms provided by institutions against in­ dividual tax returns. The IRS reports a 96.7 percent compliance rate. However, because 1099 reports have not been required for all payments of dividends and interest, total taxpayer compliance on all forms of interest and dividend income has been less than 96.7 percent; specifically, ac­ cording to the IRS, it has been around 85 percent. That is because 1099 reporting has not been required for Treasury bills and bonds, jumbo CDs ($100,000 denominations and up) and other types of bonds and certificates which have not been subject to registration requirements. Under separate provisions of TEFRA, however, virtually all forms of interest and dividends must be reported by paying institutions to the IRS, thus eliminating these potential avenues of tax evasion. The argument against the new bilLjus that if the IRS is failing to adequately match 1099s with individual tax returns, the burden is on them to remedy the system, rather than on thfl public to forfeit "up front' 10 perea# of this income. no* Furthermore, the IRS also says thai*5 about 75 percent of individual ti£P returns end up with refunds. ^ If most people pay their taxes an<yif most returns end up with refunds, WtTy is the IRS after part of your savings It is going to all this trouble - Ad imposing trouble and ecst so the',; the government can use the mo-':e},% 1983. Most of it will be returned to^the taxpayers the following year and, in the long run, the plan will do noting to solve the government's financial problems. The plan, however, wiJii give the government an interest-free loan from individuals. Bank Promotes Ms. Bender SANDRA J. BENDER Sandra J. Bender, manager of the Private Banking department of the a^soci&tioij and the Unit Connecticut Bank and Trust tio«ii .W <S4|Ual AreaL Shei^&l the Executive Personal Banked program at CBT in 3979 She \ya^ elected vice-president in January 1982. A graduate of McHenry Community high school and the Stonier Gradual School of Banking, Ms. Benri^: recently received a Bachelor's degree in Human Services from Nc.« Hampshire college She is a memM?r of the board of directors of Greater Hartford Chamber i: Commerce and series on ffi< Chamber's Regional Affairs c mittee. She also serves on the boa of directors of the Connectiuct Oper£ Way of th< tive on th< pany, has been promoted to the position of senior vice-president. The election took place at the meeting of the board of directors, Jan. 18. Ms. Bender joined CBT in 1974 as a branch management trainee and served as a credit analyst and com­ mercial loan officer before starting Greater Hartford Arts council. Ms. Bender is a former mayor of th< Town of South Windsor, where sht resides, and presently serves on the South Windsor Economic Develop^ ment commission. Her parents are Lorcan and Roy Redwanz of McHenry. NOTICE OF PUBLIC HEARING McHenry Township has applied to the Regional Transportation Authority for /the lease of one lift-equipped vehicle in early 1984. A public meeting will be held February 18, 1983, 8:00 P.M. at 3703 N. Richmond Road for public comments. The application may be viewed at the McHenry Township office, 3703 N. Rich­ mond Road, between 8:30 A.M. and 4:00 P.M. Written comments regarding the application should be submitted to McHenry Township prior to the meeting in order to be placed in the record of the meeting and/or submitted to the Regional Transportation Authority, Paratransit Department, 300 North STATE Street, Room 915, Chicago, Illinois 60610, by March 3, 1983. Albert A. Adams, Supervisor McHenry Township (Published February 4, 1983) No. 830050 GEM: Another World, Another Time... In the Age of Wonder. FRI: 7:10, 9:00; SAT. & SUN: 1:00, 3:00, 7:10, 9:00 MON., TUES., THURS: 7:00, 9:00 WEDNESDAY: 2:00, 7:00, 9:00 PRINCESS THE VERDICT (r, Starring Paul Newman * • • *Ebert FRIDAY: 7:00, 9:15 SATURDAY, SUNDAY: 1:00, 3:15, 7:00, 9:15 MON., TUES., THURS: 7:00, 9:10 WEDNESDAY: 2:00, 7:00, 9:10 McHENRY 1-2 $1 50 385-0144 ALL SI 00 SAT S SUN $. ° ow, SEATS TIL 5 PM SHOWS Frank ( lahin ha> one last chance to do something right f STARTS FRI. PAUL NEWMAN SAT & SUN 1:45-4:15-6:45-9:15 FRI-MON-THURS 6:45-9:15 ISHOWPLAtE S HELD OVER iPimriM HOITBtAW Tootsie ins IS A HELL OF A WW TO MAKE A LIVING FRI. ft MON.-THURS 6:45-9:15 SAT. ft SUN. 2-4:15-6:45-9:15 SHOWPLACI1-2-3-4 at,JESDAY S, 5oE».c»m RTE 14&31 ALL SHOWb MMIMIIS CRYSTAL IAKE 455 1005 $1.00 •»"** ™ S3 00 ADULTS S2 00 YOUNG ADULTS 12-16 St 50 CHILDREN 11 & UNDER STARTS FRI ' WITHOUT A TRACE NICK NOLTE • E. MURPHY mm FRI.* SAT. 2:30-4:30-6:30 8:30-10:30 SUN.-THURS. 2:30-4:30 6:30-8:30 Victim: "Hey, put all of that silverware back in the draw­ er! Thief: "Not all of it, half of it belongs next door" * VALENTINE LOVE LINES FOR SOMEONE SPECIAL ON FRIDAY, FEBRUARY 11th We Will publish a Special Valentine Greeting page in the classified section of this paper. Don t Forget Valentines Day 'qk is jjp-; Monday, Feb. 14th ^ f USE THE HANDY COl>PON AND COMPOSE YOUR AD AND BRING IT INTO OUR OFFICE . .OR MAIL IT ALONG WITH YOUR CHECK OR MONEY ORDER TO THE McHENRY PLAINDEALER, 3812 W. ELM ST.. McHENRY. IL. 60050 MUST BE POStMARKED NO LATER THAN FEBRUARY 8th ALL ADS MUST BE PAID FOR IN ADVANCE I ADDRESS I PHONE I NUMBER Amt. Enclosed O MUST BE POSTMARKED NO e LATER THAN FEB. 8th. Q SAMPLE 1 Col x 1" *2.25 1 Col x 2" *3.50 HAPPY VALENTINE1 [>AY TO MY WE Thonk You For A Fobu lous 20 Yeo<s Henry F MESSAGE OF LOVE To Mom ond Dod From Mory 6 J im * 1 COL. X 1" -maximum 15 words 1 COL X 2 maximum 30 words HELD OVER •ML, FRI. & MON.-THURS. 6:30-8:30 SATURDAY & SUNDAY 2:30-4:30-6:30-8:30 SUN-THURS. 2-4:15-6:30-8:45 FRI & SAT 2-4:15-6:30-8:45-10:50 THE ENTITY r FRI ft SAT 2-4:15-6:45-9-11 SUN-THURS 2-4:15-6:45-9 VIMODMME« FRI ft SAT 2:30-4:30-7-9-10:45 SUN-THURS 2:30-4:30-7-9