Word: back
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Dates: during 1940-1949
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Krieg's research indicates that even when the transmission stations are permanently damaged, the brain is still capable of receiving and translating electrical impulses artificially applied. Thus, Krieg says, if a certain point at the back of the brain is stimulated, the patient will "see" a flash of light in a precise part of his visual field...
...paid $4,500,000 to R. H. Macy & Co., to buy Macy's spanking new nine-story building in San Francisco. But there is nothing obscure about Connecticut Boola's parent: Boola is the wholly owned subsidiary of Yale University. The new owner promptly leased the store back to Macy's for 31 years and two months, at an average annual rental of $240,000. Thus Yale became Macy's San Francisco landlord...
Unhappy Treasury. But the U.S. Treasury was not quite so happy about the deal. It has been concerned about the problem of "sell & leaseback" since 1945, when Union College of Schenectady bought, for $16,150,000, the buildings of Allied Stores Inc., and leased them back to the company. Soon other colleges were buying not only real estate but commercial businesses as well. So many U.S. stores and other enterprises have sold their property to tax-exempt institutions* that the Treasury is now losing an estimated $1 billion a year in income taxes. A survey by the American Council...
...income taxes. There is nothing in making noodles, the Government contends, that is "charitable, scientific, literary or educational" (the statutory requirement for tax exemption for colleges). A court test, brought by Mueller, has not been decided. If the Government wins the case, it will slap a bill for back taxes on all the company's profits since the sale, and presumably go after some of the other big deals...
...become a lawyer. But when his father died in John's freshman year, he decided to carry on the business. For three years he worked on the job with his employees, learning to be a carpenter ("That's what a builder really is"). At night he went back to the office to study bookkeeping and estimating. In 1930 he got his first chance-the Philadelphia Board of Education's $2,100,000 Administration Building. "It looked a lot bigger to me," says McShain, "than the $83 million Pentagon years later...