Laino Named To New Post
In Karasian Sales Division
r*
Laino has been promoted
^ new position of manager of the
carpet and rug sales
for Karastan, effective
"^mediately,
top”®^^^aouncement was made in
by Francis X. Larkin,
Di^j^j^at of the Karastan Marketing
tna!f' ^aiao has been product
pj.f-^8er for Karastan’s woven
continue to report to
mpiv.u ■ ®iaford, vice president of
j^aanchsing for Karastan.
®re V^'ao will be responsible for
5(Ui®J}ag and coordinating the
of the woven carpet and rug
® department to achieve
maximum volume and profit return.
In this capacity he will make the
determinations for pricing,
budgeting, product scheduling and
other merchandise functions.
Mr. Laino joined Karastan in 1970
as an administrative assistant. He
was made a sales representative in a
Midwest territory in 1973 and in 1975
was made a contract specialist for the
Chicago area. He was named product
manager in 1976.
He will continue to have his
headquarters at Karastan’s
marketing offices in New York’s
Carpet Center. A graduate of Queens
College, Mr. Laino is married and he
and his wife reside in Manhattan.
tilB
i- r.K.
-E V,
'*S&
hosier Named
^Division VP
P. Foster, previously
manager, Scottsboro Rug
p *>. Was named division vice
Sp^Jdent and general manager.
Rug Mill, effective
continues to report to C. I
bpt?®^ches, division vice president
fashions manufacturing.
at^®fore l
L.
Si
becoming general manager,
^cottsboro in 1973, Mr. Foster had
Pj^nt manager of the Bedspread
^Xce t ^ Mill at Eden since 1962
fesi ^ for a short time when he
thfi i fo accept another position in
5^‘extile industry.
\^^rlier was assistant manager
JOSEPH P. FOSTER
of the Blanket Greige Mill and was a
staff assistant to the plant manager
there.
A native of Georgia and a graduate
of Wofford College, he joined
Fieldcrest in 1947 as assistant
director of training.
Hanley Is Honored
Ed Hanley, center, is shown with William C. Battle, president of
Fieldcrest Mills, Inc, right, and Francis X. Larkin, president of the
Karastan Marketing Division, after receiving a plaque at a dinner during
the Karastan Sales Meeting in Chicago in January.
Mr. Hanley a Karastan sales representative in the New England
territory, retired this year after 44 years of service with the company.
Named To Engineering Post
JOHN A. -raOMAS
A. Thomas, who has been
in manager of plant engineering
4pv.? ^Engineering Department since
Wnm was named manager of
I ''’■engineering, effective February
continues to report to R. A.
jifA- Thomas is registered as a
Cpj,!^ssional engineer in North
0^^
*ia and Alabama. He is a
Day, FEBRUARY 21,
graduate of North Carolina State
University with a B. S. degree in
electrical engineering.
He joined Fieldcrest in 1963 as
assistant superintendent in the
Karastan and Bedspread plant
Service Department. He later was
superintendent of Blanket and
Sheeting Plant Service before he was
transferred to the Engineering
Department in 1969.
Fieldale
Top Weavers, Fixers
Weavers W/E February 6
Dobby Terry Bennie R. Lawson
Jacquard Terry Carl Bernard Witt
Fixers W/E February 6
Dobby Terry Claude Austin, Jr.
Jacquard Terry Roger Moore
Weavers W/E January 30
Dobby Terry James Law
Jacquard Terry . Robert Ferguson
Fixers W/E January 30
Dobby Terry Clarence Stone
Claude Austin, Jr.
Jacquard Terry Richard Turner
Glen Clark
1977
(Continued From Page One)
records for preparation of the return.
The tax law changes enacted in 1976
include the new general tax credit for
the taxpayer and dependents; an
increase in the minimum standard
deduction; liberalized child care
provisions; an expanded and
simplified credit for the elderly; and
curtailment of the former sick pay
exclusion.
Check your tax return instructions
and if you are not clear about how
these changes affect you, call the toll-
free number for your area or visit the
IRS office.
The one change that affects
practically every taxpayer is the
General Tax Credit—formerly the
Personal Exemption Credit. The new
law provides a tax credit of $35 for
each dependent claimed, or two
percent of the first $9,000 of taxable
income, whichever is larger.
The Earned Income Credit remains
at 10 percent of the first $4,000 of
earned income with a maximum
credit of $400, but the eligibility
requirements have been eased. This
credit is for taxpayers whose earned
income or adjusted gross income.
whichever is larger, is less than
$8,000.
Taxpayers may claim the credit if
they paid more than half the cost of
maintaining a home for themselves
and their child who is under 19 years
old or who was a full-time student, or
for their disabled child who is
dependent, regardless of age.
The former Child Care and disabled
dependent care deduction has been
changed to a tax credit. Those who
must pay someone to care for their
children while they work can claim a
credit of 20 percent of their child
expenses, up to a maximum of $400
for one child and $800 for two or more.
The credit may be taken by couples
even if one or both work only
parttime. In that situation the eligible
expenses are limited to the amount of
earnings of the spouse earning the
smaller amount, or in the case of a
single person, to his or her earnings.
Separated, divorced or widowed
parents with custody of children are
also eligible to take the credit.
The Tax Credit for the Elderly
replaces the former Retirement
Income Credit. The income on which
the credit is computed has been
extended to include earned income
and the credit is available to persons
65 and over whether they have
(Continued To Page Six)