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...sell the stock? No, said Erwin Wilson. If he sold, he would have to pay a big capital-gains tax (estimates ranged up to several hundred thousand). Some of the Senators pointed out that the U.S. law is clear on the point involved: no officer of the Government may transact business with any firm in which he has a financial interest. General Motors is the Defense Department's biggest supplier, holds approximately 7.8% of the dollar volume of all the department's contracts. Wilson seemed astonished to learn that there was such a law. Said he stolidly: "What...

Author: /time Magazine | Title: THE ADMINISTRATION: Conflict of Interest | 1/26/1953 | See Source »

...European is astonished to see nearly one thousand men prepare to transact the two most difficult pieces of business an assembly can undertake, the solemn consideration of their principles, and the selection of the person they wish to place at the head of the nation, in the sight and hearing of twelve or fourteen thousand other men and women...

Author: /time Magazine | Title: National Affairs: The Eye of the Nation | 7/14/1952 | See Source »

...pass it. Its practically the same as the old constitution, except for three changes. One, we'll only need fifth instead of a fourth of the membership for a quorum and two, we'll only have five instead of eleven executives. That way, it'll be easier to transact business. The third change is a provision for impeaching an officer who commits an act detrimental to the club...

Author: By Michael Maccoby, | Title: And Then They Were ... | 5/19/1952 | See Source »

...Kremlin, Mao presumably congratulated Stalin on his birthday. Nationalist Chinese sources reported that he had brought along 15 carloads of gifts, including rare art and historical treasures from Peking's palaces and museums. But the two leaders undoubtedly had more important business to transact; it seemed likely that they would forge treaties of friendship, alliance and trade, and prepare fresh blows at the soft underbelly of the non-Communist world in East Asia...

Author: /time Magazine | Title: THE NATIONS: Meeting in Moscow | 12/26/1949 | See Source »

...they were a new consignment of concentration-camp inmates. An old Hausfrau with a shawl over her head stared defiantly back. Most passengers just waited in uneasy silence alongside their battered suitcases. These people were not running away. On their way to see relatives in the West, or to transact long-delayed business, they all expected to return...

Author: /time Magazine | Title: International: Journey to the West | 5/23/1949 | See Source »

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