Word: exempt
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Although Harvard is the largest individual landowner in both Cambridge and Boston, it enjoys tax-exempt status on much of its real estate. To partially compensate the community for the loss of revenue, the University makes annual payments in lieu of taxes...
...None of these [tax-exempt] places pay enough," said Cambridge Mayor Alice K. Wolf in an interview. "Whatever they pay is miniscule...
...Government now requires banks to keep an eye out for Smurfs, but launderers have developed new techniques. Since retail businesses that collect large amounts of cash are often exempt from the $10,000 rule, launderers have created front companies or collaborated with employees of such outlets as 7 Elevens and Computer-Land stores. To drug dealers, "an exempt rating is like gold," says a Wells Fargo Bank vice president. A restaurant that accepts no checks or credit cards can be an ideal laundering machine. Even a front business with no exemption is valuable because launderers can file the CTRs...
Alan Greenspan. In 1985 Keating hired the current chairman of the Federal Reserve Board, then a private economic consultant, to convince the Federal Home Loan Bank Board (FHLBB) that Lincoln was sound and should be exempt from a rule limiting direct investments in risky enterprises to 10% of a bank's portfolio. Though Greenspan wrote to the board on Lincoln's behalf in February 1985, the board turned down the exemption request. But Government officials who let Keating keep control of the S & L still brandish the Greenspan study when they come under fire. If Keating could fool...
...Something is going on in this nation. It is called a recession or the beginnings of one, and we are not exempt from the trends that are going on," he said...