Word: a-year
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...first time, Reagan in his speech endorsed what he termed a "bipartisan substitute" for his own proposals, claiming that it "will achieve all the essential aims" of his program. Indeed, it would, since it calls for even deeper budget cuts than did his original package and includes the 10%-a-year, three-year Kemp-Roth reduction in individual tax rates. Sponsored by two conservatives, Republican Delbert Latta of Ohio and Democrat Phil Gramm of Texas, it was worked out with David Stockman, Reagan's Budget Director. But it is bipartisan only in the sense that an unknown-and ardently...
...Lorean still exudes the brash self-assurance he displayed in 1973, when he walked out of a $650,000-a-year executive post at staid General Motors to create his own auto company. To finance his factory, he approached rival governments like a baseball free agent dickering with club owners. The U.S. Government offered him $65 million in loan guarantees if his plant were built in Puerto Rico, but De Lorean took $114 million in loans and grants from Britain to make his cars near economically depressed Belfast in Northern Ireland...
...President hammered away at the need for budget cuts because he knows he must win some significant victories in reductions if he expects Congress to approve his often promised 10%-a-year reduction in personal income taxes over the next three years. Reagan advisers have been slow in putting together their economic package because they want to make sure all their figures are straight, to prevent any embarrassment when the struggle with Congress begins. "We only cut 3½ billion today," quipped Office of Management and Budget Director David Stockman, emerging from one economic policy session. He spoke only half...
...struck that bargain was Kennecott's new chairman, Thomas Barrow, 56, who had recently left a $250,000-a-year job as a senior vice president at Exxon. The 6-ft. 3½-in. onetime University of Texas football player is the son of a former chairman of Humble Oil & Refining, one of Exxon's predecessor companies, and the heir to the 30,000-acre Thomson Ranch near San Antonio. Having reportedly been passed over for the presidency of Exxon, Barrow was on his way back home to manage his ranch when Kennecott snared him with a Texas...
Harold Keane's personnel file contained nothing but plaudits. But when a new boss took over, he wanted his own people and told Keane: "We're reorganizing, and there's no place for you." Keane, 47, a $41,000-a-year director of budgets and administration for Amtrak in Washington, D.C., was dismissed and replaced by a man of 28. Says Keane: "I wasn't going to let them get away with it." With the help of his lawyer, Joseph Guerrieri, he sued Amtrak under the 1967 Age Discrimination in Employment Act, which forbids age-based...