Word: crimp
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...past still pervades Japan, hut it does not crimp its future. Already, the heirs presumptive to the 21st century own a big share of the 20th. A human cliche everywhere is the bespectacled Japanese salesman, quick to bow, to smile and, after consulting his pocket dictionary and his neatly arranged attache case, to quote a cut-rate price. He is seen even in the lobbies of the Alcron in Prague and the Gellert in Budapest...
...private foundations, some of which have led in creative efforts to improve the quality of life in America. In an attempt to crack down on organizations established to avoid taxes, the bill imposes a 7.5% levy on the investment income of all foundations. The measure could put a serious crimp in the activities of some of the country's most respected philanthropic operations, which now donate substantial portions of their income to private universities, museums and charities...
...says Assistant Commerce Secretary William Chartener. "When business slows down, the first place it is felt is typically in profits." This year, companies will be paying higher social security taxes on top of the now extended 10% surcharge. If Congress repeals the 7% investment tax credit, that will further crimp earnings...
Without question, repeal of the tax credit will crimp the profits of companies in capital-intensive industries. On Wall Street, which generally shrugged off the tax announcement, that prospect depressed stock prices among construction firms, computer-leasing companies, steelmakers and airlines which are in the midst of a costly modernization program. Some small and medium-sized firms may well choose to curtail their factory expansion. At General Motors, the tax credit amounted to $39 million last year, or nearly 4% of its profits. But G.M. does not plan to cut back on its $1.1 billion spending program (up 28% from...
...Thais voted in a general election. The balloting was to choose 219 deputies for the lower house of Thailand's National Assembly. The election did not change the texture of the government of Premier Thanom Kittikachorn, a field marshal in the Royal Thai Army, nor did it appreciably crimp its powers. But in creating a legal opposition, it heralded a return to more representative and more responsive rule...