Word: conducting
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Dates: during 1990-1999
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...possible to have 3,600 corporations and no visible presence? Easy. All the real work is still performed back in the U.S. The companies merely hire a local firm to maintain their records, open a bank account, conduct that annual board meeting and provide an offshore postal address. "FSCs are transparent companies," says a longtime agent on St. Thomas. "They don't really exist." To comply with the law, companies send their already processed sales invoices, brochures and other export literature in boxes to St. Thomas for mailing. Perhaps 50 islanders, mostly low-salaried clerical help, work...
...company to skip payment of more than half a billion dollars in taxes since 1986. The rest comes from a variety of business tax credits, deductions and other incentives. During those same years, GE received contracts potentially worth half a billion dollars from the Department of Energy to conduct research in such areas as turbine systems for utilities--a core business of GE for decades. The Eximbank arranged more than $3 billion in financing or loan guarantees on some 40 GE projects in 20 countries. OPIC insured four GE projects worth $213 million...
Faced with this threat, Kentucky officials hired Coopers & Lybrand, an accounting and consulting firm, to conduct a study--paid for by GE--on whether the company really intended to turn out the lights. The answer Coopers & Lybrand came up with...
...with tax dollars supplied by the U.S. government; engage in foreign transactions that are insured by the government; and are excused from paying a portion of their income tax if they sell products overseas. They pocket lucrative government contracts to carry out ordinary business operations, and government grants to conduct research that will improve their profit margins. They are extended partial tax immunity if they locate in certain geographical areas, and they may write off as business expenses some of the perks enjoyed by their top executives...
...period of intensive government cost cutting? For starters, it has good p.r. and an army of bureaucrats working to expand it. A corporate-welfare bureaucracy of an estimated 11,000 organizations and agencies has grown up, with access to city halls, statehouses, the Capitol and the White House. They conduct seminars, conferences and training sessions. They have their own trade associations. They publish their own journals and newsletters. They create attractive websites on the Internet. And they never call it "welfare." They call it "economic incentives" or "empowerment zones" or "enterprise zones...