Word: write-off
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...confronting the biggest single loss in its history. Still unable to explain fully how the bank's bond trading department had stumbled into its costly involvement with the little-known Drysdale in the first place, Chase had no choice but to swallow hard and announce a onetime write-off of perhaps $135 million after taxes, or more than what the bank had expected to earn in the second quarter. Another big commercial lender, Manufacturers Hanover Trust, was also hit, though its initial announcement of a likely $29 million write-off was later pared back to only about $9 million...
...Bank für Gemeinwirtschaft, with a total of about $310 million in Polish credits outstanding, followed by three other German banks with $180 million or more each. Hans Friderichs, Dresdner Bank's chairman, recently conceded that his bank was setting up a contingency fund against the possible write-off of part of its Polish and other weak loans...
Still, the sweeteners amount to more than a jar of jelly beans. Some were a shade outrageous. Rostenkowski, who has been saying that the G.O.P. version favors Big Business and wealthy individuals, protected a tax write-off for some 2,500 commodities dealers who straddle the market through offsetting buy and sell orders. Not surprisingly, the commodities market is based in Rostenkowski's home city of Chicago. Republicans offered a special deduction to truckers, who were strong supporters of Reagan's candidacy...
...programs and talent on the West Coast. "But he encountered a string of bad luck-a crucial ingredient in this business. He had to cope with an actors' strike, a writers' strike and the loss of the Moscow Olympics last year." The Olympics boycott cost NBC a write-off of $33.7 million-and an invaluable opportunity to promote its upcoming fall shows. First Silverman promised that NBC would show significant improvement in the ratings by the end of 1980, then by May of this year, then by next fall. Too late...
Vickery said the owners of the property agreed to surrender it because the project will increase the value of their remaining holdings and because they will use the donation as a tax write...