Word: deale
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Dates: during 1970-1979
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...resume. Top managers could well announce token salary cuts* and the sale of the company's three corporate jets. Bankers may have to accept deferred payment and lower interest. A committee representing Chrysler dealers has offered to lend the company $50 for every car they receive-a deal that ultimately could amount to an interest-free credit totaling $120 million. lacocca has already confirmed that certain suppliers have agreed to extend terms of payment. Chrysler has also asked some to cut prices by as much...
...outboard motors and boats, and its 15% investment in France's Peugeot could well go on the block. The company may also sell one or more of its U.S. engine or transmission plants to a major importer like Volkswagen or Japan's Honda and work out a deal for Chrysler to buy back some of the production. In sum, the company will have to accept a reduced role in the auto market...
Their chairmen, Senator William Proxmire and Representative Henry Reuss, both Wisconsin Democrats, opposed aid to Lockheed. "A terrible precedent," said Proxmire of the proposed Chrysler deal. Reuss expressed distaste for guaranteeing loans for Chrysler to build "gas guzzlers that nobody will...
...caught," he explains. "It's your word against the IRS."-Jerry, a Cincinnati lawyer, provides "free advice" to an employment agency for domestics. In exchange, the agency sends a maid every week to clean his apartment-gratis. Jerry "makes" $1,500 a year in unreported income on the deal...
...Feds are not the only losers. In states where sales taxes are high, avoidance schemes abound. The simplest ruse is the empty-box trick. The customer buys a big-tag item, such as an expensive suit or shoes and makes a deal with the merchant to "mail" it to an address in a state with a lower rate. The merchant obligingly sends an empty box, and the customer walks out with the goods. A variant is to send the purchase to a friend in another state. Rob, an accountant, saved $600 on a $12,000 painting by having the gallery...