Word: write-off
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...ranges a year. He spent another $11 million buying and retooling a surplus war plant in Milwaukee to turn out hot-water heaters, but with the Korean war, used it to land Hotpoint's first big defense order for turbo superchargers. With a Government tax write-off, Hotpoint expanded the plant, now makes both turbo superchargers and hot-water heaters. Nance had also begun a new $20 million plant to make refrigerators when a Navy contract diverted it to making Pratt & Whitney jet-engine components...
Instead, Charlie Wilson, fed up with the delay, prodded out quick tax write-off approval for the expansion plans of the Big Three: an 85,000-ton Texas plant for Alcoa, a 120,000-ton expansion for Kaiser, 20,000 tons of new capacity for Reynolds at Longview, Wash. Total approved expansion for the Big Three since Korea: 545,000 tons. Approved expansion by newcomers: 0. Even Manny Celler and the Justice Department had finally come around to the view that if the U.S. wanted more aluminum fast, it had to go to the people who had the money...
...putting the big plant back to work again to uncork one of the tightest bottlenecks in jet aircraft production. Pittsburgh's Allegheny Ludlum Steel Corp. and Manhattan's National Lead Co. announced that their jointly owned Titanium Metals Corp., with a fiveyear, $14,163,000 tax write-off from the Government, is converting the plant to mass production of titanium metal...
...defense line in the Pacific from AIaska to the Philippines, and declared: "So far as the military security of other areas in the Pacific [e.g., Formosa, Korea] is concerned it must be clear that no person can guarantee those areas against military attack." That statement signified the great U.S. write-off of Asia...
...make up for the drain of the cold war, and provide for growing numbers of retired workers, C.E.D. thought that the U.S. would have to step up production in the future. The Government could make some major contributions to higher productivity, mainly through tax reforms, such as a quicker write-off of new machinery, and adjustment of taxes which now discourage investors...