ASPA BUSINESS MANAGEMENT COMMITTEE'S 

Management Letter

Vol. 6-July 15, 1982

Those "in the know” say that bankers will have a few more 

loan problems with slow payments increasing along with defaults. Bank 
loaners will be a lot more cautious on new loans and more choosey, BUT 
estimated bank profit is to be up to 7% in 1982 over 1981. Small town 
banks primarily in farm areas are feeling a pinch, however. 

Slow recovery... according to a number of Washington sources 
with July tax cuts starting the recovery rolling, if only slowly.
Inflation will average about 6% which will also be about that amount 
next year. High interest rates are the real bugaboo.. slide easy in the 
summer and then up the bid in early '83. The prime rate they say may 
rise to 17% or so and slip to 15% this fall, then maybe to 16% during 
the winter. 

From the Government... Congress will not pass emergency bailout 
programs for farmers, many controversial issues will be avoided because 
of fall elections. 

Special sales and promotions are getting consumer attention 

these days. Merchandising and sales promotions are taking on increasingly 
important aspects with higher costs and more careful buying. Many advisory 
services are very clear on their emphasis of their positive aggressive 
selling and constant attention to marketing. It is strictly a consumers 
market these days. 

Now is the time for your sixth month financial check-up!

Review your tax returns for the past 3 or 4 years and divide them into 
categories of income items. Do the same for analyzing your deductions, 
income adjustments, and so forth. Evaluate the taxes you’ve paid as to 
a percentage of total income. Have you been getting large tax refunds at 
the end of the year? If so, you’re making interest free loans to the 
government which they obviously appreciate. You can increase your withholding 
or reduce tax payments and then invest the money. However if you under 
estimate by more than 20%, you could be liable for penalities which amount 
to 20%. Proceed on to plan your spending for the last six months of the 
year and figure how to minimize your tax load by taking advantage of many 
options which are available from your financial advisor. 

A statement worth repeating..."The budget should be balanced.
The treasury should be refilled. Public debt should be reduced. The 
arrogance of officials should be tempered and controlled, and assistance 
to foreign lands should be curtailed lest we become bankrupt. The people 
should be forced to work and not depend on the government for subsistence.”
If you can agree with this statement, you’re in pretty good company. It 
was made by Cicero in the year 78 A.D.

American Sod Producers Association  

Assn. Bldg., 9th & Minnesota  

Hastings, Nebraska 68901  

Phone (402) 463-4683

States to have greater involvement in disease and pesticide 

quarantines. The Federal Register, on June 9, 1982, published a notice 
that states and other interested parties would very likely be given the 
responsibility for control of a number of weed and pest programs. For 
example, the likelihood of federal involvement in control survey and 
quarantine programs for golden nematode, witch weed, bollworm, and gypsy 
moth will be terminated. This would then pass through states as their 
responsibility for control. 

National Council of Agricultural Employers states... when hiring 
illegal aliens, you can refuse to hire them and ask for citizenship or 
authority to accept employment in this company. But, you must impose the 
same exact proof requirements on every person hired no matter what the 
job vacancy being filled. 

Farm Labor Contractor Legislation getting close to consensus... 
difficult but not impossible. One reminder... our present law requires 
that agricultural employers who are registered as farm labor contractors 
must comply with Part 40, Subpart 40.19 of FLCRA: No farm labor contractor 
may transport migrant workers within the meaning of the act unless person 
shall submit written proof that every such vehicle is in compliance with 
all applicable federal and state safety and health standards and with rules 
and regulations promulgated by the Bureau of the Motor Carriers Safety 
Federal Highway Administration.

worker rose by 2,011 percent from 1950 to 1980? 
taxes than they pay in federal income taxes? 
the whole year? 

Would you believe...? That Social Security taxes of the average 
That 25 percent of workers today pay more in Social Security 
That Social Security taxes in 1940 cost a worker only $30 for 
You do believe that? That’s no surprise... you paid the tax!