Word: exempts
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...first time, Congress is investigating the U.S. newspaper industry in depth. The impetus is a pending bill that would exempt consolidating newspapers from antitrust laws if one of the papers is "failing" financially. Already under way for two weeks, hearings by Senator Philip Hart's Antitrust and Monopoly Subcommittee promise to be controversial-and prolonged. They may well outlast this session of Congress, as witnesses deliver not only their opinions of the bill but of the industry's troubles in general...
...popular theory is to blame all the Lampoon's woes upon last summer's issue, The Playboy Parody--a mercenary, bulky enterprise which netted over $150,000. According to lampologists, the poonies spent the next six months bickering over how to spend it all and still maintain their tax-exempt status. In the meantime they forget, or didn't care, about the high-quality humor of the good-old-day (which, by the way, not even the most ancient Cambridge observers can recall...
...Frills. After Douglas' defeat last fall, Wisconsin Democrat William Proxmire became the bill's chief sponsor. More flexible than his old friend and mentor, Proxmire facilitated passage by agreeing to exempt smaller transactions under the revolving-charge-account systems used by many department stores. The stores will still be able to state their "service charge" on unpaid balances as 1½% a month-instead of the pause-giving figure of 18% a year. Transactions in which the annual credit cost is less than $10 would be excluded, along with loans exceeding $25,000, and all first mortgages...
Clay had claimed that he was exempt from the draft because he was a minister of the fanatic Black Muslims. Yet in March 1966 he had proudly listed his occupation as "world's heavyweight champion," styling himself a minister of Allah only last August, six months after he had been classified 1A by his Louisville draft board. The court found the sequence more than coincidental...
...said, there is a "real possibility" that it will want to make the requirement easier. At present, the only way out is a medical excuse. About only way out is a medical excuse. About 50 students in the College are exempt because University Health Service doctors have verified that they have strephosymbolia, a rare disease which makes it impossible to learn foreign languages...