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BUSINESS NOTES.

FTC PROPOSES NEW ``MADE IN USA'' RULES: The government wants to give manufacturers more leeway in promoting their products as ``Made in USA'' even if some of the parts originate overseas.

The Federal Trade Commission said it wanted to ensure that consumers are not deceived when they see a ``Made in USA'' label and also that American manufacturers have enough flexibility to meet global competition.

Under current rules, companies can't make that claim if a product has more than a small amount of foreign content. The proposed guides would allow a product to be called ``Made in USA'' if ``substantially all'' was made in America, or at least 75 percent of the toal manufacturing costs.

?13- Associated Press

SENATORS WANT TO DELAY IRS PENALTIES: A movement is building in the Senate to delay the stiff penalties the IRS plans for small businesses that fail to meet a July 1 deadline to electronically deposit federal employment and business taxes.

Since 1994, the IRS has been phasing in a system requiring businesses to electronically pay their federal employment taxes. A growing number in Congress are concerned that the IRS isn't prepared to meet a July 1 deadline when 1.2 million small businesses are to begin electronic filing.

?13- Associated Press

BUFFETT WARNS OF MARKET SHOCKS: On a day when stocks rose to new heights, legendary investor Warren Buffett told shareholders of his Berkshire Hathaway Inc. to prepare for future market shocks and to embrace downturns as buying opportunities.

``I can't predict where the market is going, but we do have the kind of conditions now that can cause some excesses in both ways,'' Buffett told a record 7,500 shareholders at Berkshire Hathaway's annual meeting.

?13- Associated Press

INTEL TO UNVEIL FASTER CHIP: Intel Corp., the world's largest maker of computer chips, is about to introduce its latest microprocessor, the Pentium II. The processor, running at speeds of up to 300 megahertz and sporting a unique cartridge design, is Intel's latest attempt to extend its most advanced technology into the mainstream.

The sixth-generation Pentium II, to be unveiled in New York on Wednesday, is based on Intel's Pentium Pro, a powerful chip used in personal computers for business. But it also incorporates the multimedia-enhancing MMX technology Intel recently added to its fifth-generation Pentium chips, used primarily in consumer PCs.

?13- Associated Press

NOVELL SUES FORMER EMPLOYEES: Novell Inc. has sued three former employees and their start-up company, alleging they stole software secrets.

Novell obtained a temporary restraining order last week against Wolf Mountain Group Inc., founders Jeff V. Merkey and Darren Major, and employee Larry Angus. The order prohibits the use and business development of the disputed technology. A hearing is set for today.

In its 29-page complaint, Orem-base Novell accuses the defendants of conspiring to steal trade secrets and breach employee contracts in the development and pending release of Novell's top-secret clustering technology.
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Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:BUSINESS
Publication:Daily News (Los Angeles, CA)
Geographic Code:1USA
Date:May 6, 1997
Words:483
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