Word: offset
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Soak the Rich. Having already borrowed the legal limit from the Bank of France and hoping to borrow more to offset the government deficit, Mollet had encountered Bank of France Governor Wilfrid Baumgartner, conscientious keeper of the country's precious bullion reserves. Said smooth, silver-haired Baumgartner: "I want collateral-taxes. And quickly." Mollet's answer: a soak-the-rich tax program that hit corporation earnings, dividends and inventories, added four francs per liter...
HUERA officers recognize the professional ability of their opponents, but add, "That's more than offset by the fact that we know what we're talking about." The company union's executive board includes representatives of each employment category from the different divisions of the University, in the Cambridge-Boston area...
Today the invading woodsmen bring an undefeated record to Soldiers Field, as their 2-0 mark is the only pure slate besides Yale's. Repetto may oppose Van Riper again, but the more probable Green choice is righthander Ron Judson, whose fine curve ball is sometimes offset by a tendency to wildness...
...months Wall Street has been talking about a "profit squeeze" as if it were an indisputable fact for industry as a whole. Last week, as a flood of first-quarter-earnings reports poured out, the profit squeeze proved to be more fiction than fact. The firms that could not offset rising costs with increased business were far outnumbered by those that showed profits still on the upgrade. The profit squeeze did show up in the sense that earnings often failed to keep pace with the increase in sales. But overall corporate profits for 1957's first quarter were expected...
Wyoming's Democratic Senator Joseph C. O'Mahoney, who has been sniping away for months at the foreign operations of U.S. oil firms, last week developed a new line of attack. He asked the Administration to consider imposing a tariff on oil imports, to offset "the threat to our national security" resulting from the loss of tax revenues from overseas oil operations. What Senator O'Mahoney meant in particular was the Arabian American Oil Co.'s tax arrangement with Saudi Arabia, through which Aramco last year avoided paying a penny of corporate income...