Word: traders
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...past three months means that he will pay $21,000 less in taxes and his employees will get considerably reduced bonuses. In Detroit's fanciest restaurants, the London Chop House and the Caucus Club, business is off about 25%, and the entertainment has been reduced accordingly. At Trader Vic's in San Francisco, says Manager Rainer G. Baldauf, "two well-heeled customers are coming in where there used to be four, and four where there used to be six. I think this law is going to kill splendor in dining." Expense-accounters often ask for separate checks...
...Monaco has sheltered its residents from one of life's inevitabilities-taxes. To enjoy this blessing, thousands of foreigners have settled in Monaco, and the principality has prospered since World War II as the headquarters for scores of foreign firms, including Allied Chemical, U.S. Time, and the weapon trader, Interarmco, that do the bulk of their business outside Monaco's 388 acres. A tax haven at his doorstep nettled Charles de Gaulle, who was bothered about Monaco long before he took on his economic competition with Britain. Convinced that Monaco-based businessmen enjoyed an unfair advantage over their...
...sausage and $2-a-bottle Scotch whisky. Field laborers carried transistor radios, and peasant women dabbed their ears with Chanel No. 5. A steady stream of ships carried high-grade Goan ore to Europe as well as Japan. "All you had to do to make money," said one Goan trader, "was to type a few letters...
...most of its vast landholdings to the fledgling government of Canada 93 years ago, the company went steadily downhill until arrogant, able Philip Alfred Chester took over as general manager in 1931. By the time he retired in 1959, Chester had converted the Bay from a mere fur trader into Canada's third largest retailer.* There are now big Bay department stores in Winnipeg, Saskatoon, Calgary, Red Deer, Edmonton, Vancouver and Victoria, as well as 33 smaller "Bay Stores" in cities under 30,000 population, 185 "Northern Stores'' in upcountry towns, and 30 trading outposts, nearly...
Instead of throwing up his hands, McNamara turned horse trader. Wiring each of the 50 Governors, he offered to compromise with them on which units would be cut back. His Pentagon staff worked overtime to win the support of reluctant Congressmen. McNamara himself paid a quiet call on Georgia's Carl Vinson, chairman of the House Armed Services Committee, at Vinson's cattle farm. Flattered, Vinson couldn't say no. His tacit agreement led to last week's announcement of the biggest reform of the nation's standing militia since World...