Word: dollarization
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...publishing is to some extent a gamble. If political figures really "don't create big books," a number of publishers are soon going to be surprised, sorrowful and even stricken, because the most notable fad in the book business this season has been the wild-eyed flinging of dollar bills in the general direction of Washington. Bantam has paid "about" $1 million to Geraldine Ferraro for Ferraro: My Story, due in October; Simon & Schuster "more or less" $1 million to Jeane Kirkpatrick for her U.N. memoirs; and Random House $1 million to House Speaker Thomas P. ("Tip") O'Neill...
...Deak & Co. was convicted by a federal court and fined $20,000 on charges of failing to report $11 million in large currency transactions by two Philippine businessmen. Then in October 1984 the President's Commission on Organized Crime charged that the firm had been involved in a multimillion-dollar laundering operation for international drug dealers. Early this year the Treasury Department handed down a $572,000 civil penalty against a Deak subsidiary in connection with the drug-money case...
...billion-dollar mergers and acquisitions become a commonplace in today's corporate world, many executives are finding that making spinoff deals may be easier than managing behemoth-size businesses. Last week Allied-Signal, the product of a $5 billion merger made just seven months ago, announced that it would be divesting itself of some 30 divisions, whose sales total $3 billion. The slimmed-down company plans to focus on its aerospace, automotive and chemicals groups. As part of the restructuring, Allied-Signal plans to eliminate 3,000 jobs and take other cost-cutting measures that should generate savings of about...
...hauled piece by piece into the city and up onto the roof of a six-story, 13-block-long building. Inside that vast, quasi-subterranean space will be 13 acres of TV studios, underground parking for thousands of cars, and an enormous shopping mall. The whole multibillion-dollar shebang, called Television City, must get approval from two separate city boards, a process that could take a year. If Trump is successful, his enclave will be the most ambitious urban project of its kind since Rockefeller Center went up half a century...
...requires minute scrutiny, and the Ways and Means plan had many minor and major changes in the fine print. The proposal would keep the top annual contribution for an Individual Retirement Account at $2,000, but it would reduce a taxpayer's IRA write-off by $1 for every dollar the person puts into a 401(k) plan, another popular tax-deferred savings plan. The committee felt the Government could recoup revenue by limiting how much money taxpayers put into both plans at the same time...