Word: buyer
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Unlike Advance, Bertelsmann occupies a position in publishing that makes it a logical buyer of book companies. The firm, which published the Brothers Grimm in the 19th century, is vertically integrated, with everything from a printing company to a book club. "Other corporations don't view trade publishing as a core business," says Bertelsmann's Peter Olson, 47, who will become chairman and CEO of the new Random House. "We do; we believe in books; they are not a stepchild...
Another capital-gains trick has to do with the prior sale of assets when the buyer is still paying in installments. The new law allows you to apply the new capital-gains tax rate to any payments received on or after May 7, 1997, even if the sale occurred years ago. More interesting is a quirky provision that has to do with depreciated assets. Say you bought a rental property for $100,000 and over several years depreciated it down to $80,000, and then sold it for $110,000. Under the old law, you must...
...over yet. Bertelsmann has also been named as a possible buyer for part of the fragmenting Simon & Schuster, one of the largest remaining American-owned publishers. Tomorrow the world...
...said Commonwealth Energy was chosen as a buyer in part because Harvard has done business with the firm for decades...
...good thing. "The beauty of the at-large Internet is that there are no gatekeepers. And that terrifies politicians, because they're accustomed to a close relationship to the media," he says. "But there's a better policy than restricting free speech." It's called buyer beware...