Word: alaska
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Dates: during 1980-1989
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...that Arco can afford its strategy is by finding ways to make federal laws work in its favor. Much of its oil comes from Alaska's North Slope. In shipping the oil to ports on the West and Gulf coasts, it utilizes an obscure Internal Revenue Service ruling that classifies the part of the voyage outside U.S. coastal waters as foreign economic activity. Thus the shipping cost can be charged off against foreign income, and certain overseas tax credits are allowed...
Arco energetically denies that it is sheltering windfall profits in its transportation operation. Says George Babikian, senior vice president for marketing: "That is patently false." He asserts that it is "common practice" to classify tanker shipments from Alaska as foreign activity. As for the risk premium, he says, "Sure, we own the boat. We invested money to buy the boat, and we are entitled to a return on our investment...
...Commercial Fisherman Mark Morris of Juneau, Alaska, regularly records the weight and various species of his catch, areas he has fished, weather and tide conditions. Self-employed and the owner of his own boat at 19, Morris happily predicts, "In a few years, using the data I'm now collecting, I'll be better at guessing where the fish will...
...North American Championship Sled Dog Race. For all you curiosity seekers, Fairbanks, Alaska, is the place to be this weekend for the 38th running of this prestigious event. The sledding takes off today, with 19 mushers vying for a total of $14,000 in prize money. The race culminates in Sunday's finale, a finishing heat of 30 miles. Early indications point to the North Pole's Marvin Kokrine as the favorite, but you never can tell which way the snow will blow...
Another, more succinct contender: "He had hewn his house and land from twelve acres of Alaska wilderness, Biff Hanratty had, and he knew one thing-he would never share them with a woman...