Word: explainer
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Dates: during 1990-1999
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...examined by TIME, closely match the accounts he offers in his book. He warns in his book that Spalding suffers from "short-term-memory loss," which was apparent in his interview with TIME. Hersh now says he has sources beyond Mickelson for the photograph story, though he doesn't explain why those sources are not identified in the book...
...describing the disastrous Bay of Pigs invasion of 1961, Hersh attempts to explain Kennedy's cancellation of a planned air strike in support of the landing by claiming the President expected Mafia figures recruited by the CIA to have assassinated Castro before the invasion began, and pulled back when he discovered they had not done so. But he has no direct evidence that Kennedy ordered, or even knew of, a plan to assassinate Castro in 1961, and even less evidence that the failure of such a plan had anything to do with the bombing decision...
That's why investors believe in the unusual tax structure. How else to explain Starwood's unnatural premium in the market? Its shares trade at 64 times recent earnings--nearly triple the multiple of hotel and casino giant ITT. Starwood is growing faster. That helps. But the tax setup accounts for a good bit of the premium, and that's critical, because if the setup is ever struck down or found to be of little value, some of the premium would evaporate. Just what is this magical tax structure? Starwood is a Real Estate Investment Trust that owns hotels...
...Just as it is hard to explain--given rational calculations of cost and benefit, why people vote--it is also hard to understand--with tools of rational choice--why so many people in the world demonstrate ethnic fervor or embrace nationalism," Varshney writes...
...Department was not represented at the grillings, still has until December 2 to decide whether to summon that independent counsel. "These sessions were more or less expected," Tumulty says. "This may not sway her at all. But this is certainly a reminder that the clock is ticking." Which could explain the silent treatment...