Word: exemption
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...will have no choices other than to rescue them or suffer humiliating defeat in an area only a short drive, as President Reagan likes to say, from Harlingen, Texas. We'll be in big trouble with our little war. This time college students won't be exempt. Proximity, along with the spread of the war itself to Central American neighbors, will require universal mobilization...
...explosive this investigation could be was revealed last week, when Independent Counsel Lawrence Walsh secured the scandal's first guilty plea, one that led uncomfortably close to the Oval Office. Conservative Fund Raiser Carl ("Spitz") Channell admitted he had conspired to defraud the Government by using a tax-exempt "charitable" foundation to send military supplies to the contras. He named former National Security Council Aide Lieut. Colonel Oliver North as his "co-conspirator." North had not only helped persuade donors to give to Channell but had also successfully urged Ronald Reagan to thank many...
Because the law is directed at residents, not visitors, hotel dining rooms are exempt; restaurant bars and cocktail lounges are also excluded from the ban. "We understand the relationship between alcohol and cigarettes -- we're not out to reform human nature," explains former City Attorney Steven Rood. As for hotels, he notes, "French and Italian movie moguls can't do business without a cigarette in their mouth." Such reasoning does not satisfy restaurant owners. Vito Sasso, proprietor of the romantic Romeo and Juliet, argues that he too has foreign customers, citing one wealthy visitor who orders several $500 bottles...
...will affect only a tiny fraction of overall bilateral trade, they will hurt some Japanese manufacturers. But for the middlemen peddling Japanese microchips to foreign buyers, business will probably go on as usual. Already some American enterprises dependent upon inexpensive Japanese chips are busy looking for legal loopholes to exempt them from the U.S.-Japanese semiconductor agreement signed last year. In the meantime, tensions show no sign of abating. When Yasu calls on his friend Ron at the end of the month, the atmosphere is likely to be cordial but strained...
Financial advisers are divided about whether a postreform IRA makes sense for people who can no longer claim the full $2,000 deduction. Some money managers point out that the same limited tax break can easily be found in a tax-exempt municipal bond. Unlike the IRA, it imposes no penalties for early withdrawal. But some workers, at least, are still happy with the prospect of a stripped-down IRA. Richard Brody, 57, a New York City-based department-store buyer, plans to contribute to his retirement account next year even though he will be entitled to no tax deduction...