Word: payments
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Dates: during 1980-1989
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...where meat, food, clothes, jewelry, cars and appliances can all be had, provided the medium of exchange is not the zloty but the dollar, the deutsche mark or outright barter. Waiting time to buy a Polish-built Fiat can be shortened from four years to a few weeks if payment is made in dollars rather than zloty. The plumber, whose services are normally difficult to obtain, comes immediately if the bill is paid with a pair of nylon hosiery. Hard-to-get meats like veal are available, at six times the official price; wealthy nightclub patrons in Warsaw are occasionally...
...exploration. Says Stuart E. Seigel, formerly chief counsel for the IRS and now a Washington tax lawyer: "Real estate investments tend to be more economically sound and assure tax benefits with no questions asked." Someone with $200,000 to invest might use the money for a down payment on a $1 million apartment complex. He would receive the rental income from the property, plus a tax credit because of depreciation on the $1 million building. The credit could then be used to lower his regular taxable income...
...embarrassing mission. On behalf of their company, they entered a guilty plea to an eleven-page statement of criminal offenses. The charges: during the lean years of tanker building and repair that followed the 1973-74 Arab oil embargo, Bethlehem engaged in a complex conspiracy that resulted in the payment of bribes of at least $400,000 to shipowners and agents in return for having them repair their ships in Bethlehem's yards. Bethlehem smuggled a sum close to $1 million into the U.S. to be used, evidently, for illegal purposes...
...friend to the Libyans, not an agent. All that changed when the Government found out earlier this year that Billy had received $220,000 from the Libyans in "loans." Loans are not compensation, but the Justice Department was prepared to argue the money was not a loan but payment. So Billy finally caved in and registered...
...years ago, Clayton McKenzie, 37, began his venture after realizing that the high cost of buying cows was limiting business for many dairymen. Local banks normally charge an initial down payment of 30% on a loan for the purchase of a cow, while farmers renting one lay out only 6% of the cost. After starting with a two-man operation, McKenzie last year needed a bank of computers and 30 employees to keep track of around 50,000 head leased to farmers in 25 states. Sales totaled $20 million...