Word: write-off
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...draw some attention to the subject of depreciation, Bill Miller has been promoting a slogan that sounds like a Super Bowl play: 1-5-10. His idea is to allow a full write-off in just one year for all equipment, such as pollution-control gear, that the Government requires companies to install, a five-year depreciation for other new equipment and a ten-year writeoff for new plants and commercial buildings. In a speech to the Advertising Council several weeks ago, Miller even pulled out two miniature footballs, emblazoned 1-5-10, and told his audience...
Most of the Bethlehem losses stemmed from $750 million in pretax charges caused by the company's moves to cut production capacity by 10%. Most important: a $483 million write-off to cover pension and benefit payments to 12,000 workers put out of jobs...
...operating loss of $125 million on the airbus. The news this year is no better. In the first six months, Lockheed's profits rose to $25.5 million, from $22.2 million a year earlier, but they would have been three times as large without a $52.7 million TriStar write-off. Lockheed's share of the commercial jet aircraft market is a puny 2.7%, compared with McDonnell Douglas' 28% and a fat 52% for Boeing...
...Bank of America. The 51 Ren Cen partners, for their part, coughed up $114 million in equity, much of it in staggered amounts as costs surged. Said one banking partner, watching his contributions swell and anticipating little return for years and years: "We look on it as a write...
...some genuine troubles in the nation's banking system. Collectively, the 14,600 U.S. commercial banks are writing off a record number of loans as uncollectible bad debts - an estimated $3 billion for 1975, or 50% more than in 1974 and triple the loan losses of 1973. That write-off figure is not as alarming as it seems considering that as of the end of November, large U.S. commercial banks had a total of $1 19 billion in major loans outstanding. But these losses are eating into profits of banks large and small, including Citi bank and Chase. Some...