European Stars And Stripes (Newspaper) - July 12, 1977, Darmstadt, Hesse                                July 1977 the stars and stripes Page gallops the Magazine says firms owe pension funds billions Washngton up major american corporations do their employee pension funds nearly Iso Bil business week Magazine reported in some the unfunded pension the difference Between what is in the fund and what employee were entitled to at he end of 19 exceed the net Worth of the companies in the Magazine reported in us july if in a Survey of firms owing 4100 Mil lion or More to general motors led the list of s3 major Torpo Rauw with billion in unfunded vested equal to ii per cent of its net other companies in the tip 10 included Bethlehem with billion in unfunded vested benefits Chrysler billion Ford 970 million Westinghouse t75i million american Telephone and Tele million general ism million 560 million Republic and National since the employee retirement income act passed in there has been growing concern Over just Haw to assess the Everin creasing billions of dollars in unfunded pension liabilities that corporations Are the Magazine that overhang at liabilities or tries labor and government officials one concern is that erisa gives Legal claims to pension funds Over corporate business week that Means if a pension fund is terminated or the government can go after up to 39 per cent of a corporations net Worth to pay benefits prom ised to Gas unfunded vested benefits amount to Only 21 per Ceil of net but the picture la worse with other Lockheed has unfunded vested benefits equal to in per cent of its net Worth 108 per cent and is per cent fring Benefit tax urged by irs Boss Washington up employees should pay income a on benefits such As free free lunches and free airline the nations new tax chief said in an interview released economic benefits that Are received As a result of employment Are generally tax Able said Jerome who was a Philadelphia attorney before his appoint ment id May As commissioner of he inter Nal Revenue in an interview with news world report said the irs is trying to figure out How to go about collect ing tax on such when to do it and now extensive the new policy should Kurtz also acknowledged that More americans May be cheating on heir tax returns now than a decade he said under his More returns covering tax shelters and partnerships will to its important that people with High in comes Are seen to pay their fair share of the tax he asked about Kurtz there has been some decline in compliance As we measure Al we attribute it to the fact that we Are auditing fewer re Only per cent of the returns Are compared to 5 per cent 12 years and Kuru said to would like to expand the on taxing employee he said the problem is in placing a value on some thing like free parking in a big Tot at a sub Urban off ice where land May not be at a but someone who drives into manhat where parking a car on a daily basis costs Uoo or More a and who gels free parking in a building is realizing income of a be Kurtz said free air plane rides Are another tax area being examined with consid Erable for Lake an executives use granted to airline Kuru dont think there is any question that those fringes represent taxable and that a court would so hold if a Case were Kuru said exempting free plane nodes stemmed from the treatment accorded Railroad passes years but a Railroad pass in 1324 is quite Dif Ferent from free worldwide travel on air lines today for an employee and his ensure which May be Worth a said certain fringe benefits such As health insurance Are Kuru and others of Small such As a Christmas Ham or will continue to be lax consecration ceremony archbishop Marcel Lefebvre o France sprinkles holy water from an Mergil during consecration riles at the Queen of Angels Catholic Chapel in the archbishop came from Paris for the a ice Chest suffocation of boy baffles cops drought Loans set a new High Washington up the agriculture departments Farmers Home administration is shelling out a record number of drought emergency Loans this year to Farmer in 15 a spokesman said Agency officials already have processed million in drought emergency Loans to Farmers since the 19761877 fiscal year began the spokesman aha the figure will be substantially higher before tie record for emergency Loans for All including freezes and other is j750 Mil set in the previous fiscal drought Loans alone Are expected to top that Mark this year and the Al emergency loan record already has been Loans for at types of weather disaster Vic Tims in 19761977 have reached off i Mil an official in a related Agency officials said they have approved u total of 78 Loans and Grants to Rural communities in 12 states to help restore drought damaged water systems in towns of under assistant agriculture Secretary Alex Mercure recently acknowledged to a Senate subcommittee his department had been slow in activating the and promised a president Carter approved the program in Agency records indicate officials Hove begun in addition to the Loans and Grants totalling j million already a they Are processing 102 loan applications and 96 Grant a review records showed Iowa communities have received in Loans and 13 Grants to lend All states in both Oklahoma was second with 1 Loans and 11 Grants approved to other states with approvals to Dale in clude South Washington and under the farm emergency loan pro official said most activity so far has been in the i up the suffocation of a Small boy in a locked Metal picnic ice Chest remained a Puzzle sunday to police detectives trying to reconstruct the circumstances of sea Road Paul Laurence Greenlees the body of the 41pound boy was found ending an a tout search of the South Tampa in Cray area which began when he was reported missing thursday the 40inclmall child was crammed into the Chest measuring 20 by 14h by 12 inches in a fetal the ice Chest was in the Carport of the Cree Lee partially hidden by a television pending a full autopsy report asphyxiation was the apparent cause of a medical examiner the Metal Latch on the outside of the Chest was How could that police asked did a playmate close the door on he or was there foul play its possible he could have entered the ice Chest himself but theres no Way be could have closed the tightly sealing the Locking said slate attorney police spokesman Johnny Barker said we anticipate no arrests in the immediate future and the Strong possibility of an accidental death is being Pur the boy was the son of air Force and Laurence the Mother last saw the child about when he went out the Back door to she began looking for him about a half hour later she then called her who was working at nearby Mcdill air Force or Centre returned searched then called including a targe number of Macdill who used Security search joined in the Hunt which Cov ered a Large area of both Homes and heavy Harvard prof Dies at age 60 Apt Raymond a Pioneer in the application of behavioural sciences to business administration and a teacher at Harvard for 20 has died at age Darwin expert Eiseley is dead Philadelphia apr Loren the world renowned Anthropol is dead at a native of died after undergoing surgery saturday night at University of Pennsylvania he was associated with the University of Pennsylvania for More than 30 and at the Lime of his death was Benjamin Franklin professor of anthropology and curator of Penns University museum he Wen internationally known As an expert on darwinian theory and human eve the first of Bis 11 books was the immense a collection of essays about Roan and he had been warned that the Book would not stay Long in but it sold some Odd copies and established his Hii other works included the unexpected universe and the autobiographical All the strange Eiseley attended the University of Nebraska As a zoology dropped out to travel the country aboard freight cars and later returned to Nebraska to major in an he received masters and doctorate de Grees from the University of Pennsylvania and for three Yean was chairman at the sociology and anthropology departments at Ohio Obertin he returned to Penn in