Word: exemptive
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Dates: during 1950-1959
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...Ford Foundation, the independent philanthropic giant created by the Ford family, has long been anxious to sell at least 15% of its immense Ford stock holdings to diversify its investments. When the Government last week decided that the Foundation, as a tax-exempt organization, would not have to pay a 26% capital-gains tax on the sale, one of the last barriers to the stock sale was removed. However, the Foundation's 3,089,908 Ford shares (88% of all Ford stock) do not include voting shares, which are owned exclusively by the Ford family. Foundation trustees thought that...
...carried it the day Ike was stricken. Last week the Fund for the Republic decided Herblock was too hot to handle, canceled his TV show. Official reason: he is too political. By permitting him to take sides in political controversies, the Fund was afraid it might lose its tax-exempt status...
...state invested little cash in the Turnpike Commission. When the turnpike bonds went on the market in 1952, private investors, looking toward revenues from tolls, bought up the entire $326 million in one day. Before the market closed that day, the commission's $1,000 tax-exempt 3¼% bonds commanded a $25 premium. But the project was still plagued by delays, and so many obstructive lawsuits that one attorney wryly suggested paving the roadway with law! books and naming it Blackstone Boulevard. No concrete was poured at all for the first four years. Then in late...
...mistresses dies on his hands, and he, at 60, goes off with another, that too seems reasonable enough. With World War II just around the corner, Dickie Savage has in fact grown up and become a bit blasé. Heritage does not say that creative people are exempt from the rules of ordinary decency. But Author West tries to understand them and suggests that even illegitimacy and neglect are not too much to endure for the rare privilege of growing up with genius...
...leave, O leave exempt from plunder...