Originally created 02/25/97

Business briefs



Insurance chief to speak at lunch

Georgia Insurance Commissioner John Oxendine is scheduled to speak at the Augusta Brokers' Seminar at 11:30 a.m. March 4 at the Medical College of Georgia. The event is sponsored by the Greater Augusta-Aiken Area Healthcare Coalition.

The luncheon is by invitation only, but interested people can call Jim Fuzy, executive director, at 651-1961 to obtain an invitation.

Bank announces dividend payout

AIKEN - Security Federal Corp., parent company of Security Federal Bank, announced it will pay a dividend of 5 cents per share on March 17 to shareholders of record as of Feb. 28.

IRS phone-file program a success

WASHINGTON - The IRS, beset by major problems with updating its computer systems, said Monday that one part of its modernization program is humming along: the new system to file a simple tax return by phone.

The Internal Revenue Service said more people used its file-by-phone system in the first six weeks of 1997 than they did throughout all of 1996. As of Feb. 21, the IRS said it accepted 3 million returns through its TeleFile system, up from 2.8 million returns in 1996, the first year the system was used nationwide.

The service selected about 26 million taxpayers to use the TeleFile system. They receive a TeleFile package in the mail and a personal identification number. In its first year, single taxpayers whose income was limited to wages and interest could use the system, but this year it was expended to married couples filing a joint return, with no dependents, and a total income of less than $50,000.

Judge urged to OK settlement

NEWARK, N.J. - Prudential Insurance Co. of America lawyers and millions of its policyholders urged a federal judge to approve a settlement that would offer case-by-case relief to victims of deceptive sales pitches.

The unlimited settlement - which an accounting firm said could cost the nation's largest life insurer up to $2 billion - is up for the court's final approval two years after the first lawsuits were filed against Prudential.

Although much opposition to the proposed settlement has evaporated in the past two weeks, Judge Alfred M. Wolin expected to hear objections today. He has not indicated when he might rule on the deal.

Kuralt makes comeback for CBS

NEW YORK - Charles Kuralt, who stopped getting up for Sunday Morning three years ago, will return to CBSnext month on the network's new Eye on People cable channel that launches March 31.

Mr. Kuralt will anchor I Remember, a weekly one-hour examination of a significant news story of the past 30 years and the people it affected, as told in their own words, CBS announced Monday.