Word: exempted
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...President would decontrol not only gas from newly drilled wells, but also any gas from established wells that is newly diverted into interstate commerce. In addition, gas from fields in which long-term contracts have expired would be exempt from controls. The effect, Administration experts say, would be to spur more exploration, without significantly increasing the gas prices. They explain that the price of deregulated gas at the wellhead (which is only 10% to 20% of delivered cost) will be averaged in with regulated gas, resulting in minor price increases...
...Harvard still faces the problem of not having any commonly accepted definition of "corporate social responsibility" to work with. The Austin Report argued against "joining forces with other large, tax-exempt organizations in policing the conduct of business corporations." Yet, it noted that "it is a truism in the financial world that [except for rare cases] abstention in a proxy contest is a vote for management...
Japanese businessmen spent some $5 billion in mostly tax-exempt yen entertaining themselves and their clients last year-more than twice what the Japanese government spends on defense and at least 20% more than the outlay for education. The figure was up as much as 30% from 1971, which showed a 17% rise over the year before-despite a decline in Japanese corporate profits. About 1/2% of the country's gross national product now goes for corporate entertainment. So many salaried workers have expense accounts-including nearly every salesman-that the Japanese commonly refer to their country as shayo...
Harvard need not fear losing funds from tax-exempt foundations due to possible increased state control over foundations, a spokesman for the Ford Foundation said yesterday...
Only the top two varsity scorers in a given meet will be exempt from qualifying for the next meet. The other will be replaced if JV golfers out-score them. This is possible because JV and varsity matches are usually run simultaneously, Lee explained...