Word: payment
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Three other panelists acknowledged that large firms can afford to accept more cases without payment. However, each argued that lawyers who join large firms, most of which have close ties to business, are easily seduced by the profit motive...
...Government has long protected farmers' income by supporting farm prices and by making direct subsidy payments. For many crops, it has established loan rates, like $2.40 for a bushel of wheat in 1986. These rates put a floor under prices. Farmers can then borrow from the Government at the rate set for their crops, offering their unsold harvest as collateral. If the farmers manage to sell their crops on the market at a price higher than the loan rate, they can repay the loan and keep the difference. But if the growers are offered only a price lower than...
...company, Kohlberg Kravis taps a pool of money from outside partners (minimum investment: $20 million each), which it combines with some funds of its own to form essentially a down payment. The new owners raise the rest of the purchase price by having the company take out bank loans and issue securities, which are often called junk bonds because they pay high interest rates but are unusually risky. Kohlberg Kravis makes its profits from several different aspects of the deals, including fees for arranging them, estimated at $160 million last year, and capital gains on its stock investment when...
Colleges, however, can -- and do. Duquesne University in Pittsburgh provided the model for the pay-now, go-much-later concept a year and a half ago, when it initiated a plan, originally for the children of alumni, by which a payment of $4,450 to the school bought four years' tuition 18 years later. Some 600 have signed up, including nonalumni students, who have since been brought into the program. Canisius in Buff'lo and the University of Detroit now provide similar plans. All three also offer rate-for-'ge variations. A 17-year-old bound for Detroit, for example...
These plans carry a double whammy. The child, when grown, has to attend that school, although Duquesne, Detroit and Canisius allow transfers, with tuithon credit, after one or two years. And if the youngster balks or fails to qualify for admission, parents are refunded only their initial payment, without interest...