Word: cash
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Dates: during 1960-1969
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...barrel-chested boss of Madras, who as president of the Congress Party dreamed up the consensus scheme as a means of installing Shastri after Nehru's death. But Kamaraj speaks only Tamil, and even if Shastri were to vanish, would be content to remain only a kingmaker and cash collector for the party. Last week Kamaraj was touring his home state, preceded by an elephant with bells on its toes, to celebrate his birthday. In lieu of gifts he collected $350,000 for the party coffers...
Depressed Market. Fidel's impatience was understandable. In the past five years, per-capita income has dropped 15% in Cuba. After an abortive attempt at crash industrialization, Castro has again turned priority effort toward sugar, Cuba's one cash crop. The current harvest has produced a healthy 6,000,000 tons. Trouble is, so much of it (4,800,000 tons) has already been committed-to Russia, Red China and other countries, under barter agreements-that only 800,000 tons are left, after domestic needs, to sell for badly needed foreign exchange...
...obvious draw back; it authorizes a first-year payout of $100,000, but it does not provide the actual cash. Criminals themselves are supposed to supply it through fines levied by judges. But since most criminals are already indigents, where will they get the money? If the plan is to be more than tokenism, odds are that Governor Brown will wind up paying for most of it from his emergency fund...
Equally important, the so-called "quality" of profits is much improved. Reason: under the liberalized depreciation laws, companies are counting increasing amounts of their income as nontaxable depreciation expense, instead of taxable profit. As a result, "cash flow"-net income plus depreciation allowances-is rising faster than profits...
...time of crisis, when more demands may soon be made upon its productive capacity, U.S. industry thus has both the cash and the incentive to expand. More and more industries are making longer-term plans, paying less attention to possible short-term fluctuations in the economy and more attention to likely expansion and markets over the long haul. The aerospace industry is making hard plans for ten years ahead and estimates for 30. Detroit automakers have already begun firm planning in the expectation that "normal" yearly sales will be 9,000,000 cars...