Word: exporters
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Treasury Secretary W. Michael Blumenthal chided the businessmen for so solidly opposing the President's tax bill. In reply, some of the guests asked why, at a time of record trade deficits, the Administration was seeking to end the provision deferring taxes on some export profits and earnings abroad. Blumenthal argued that other offending proposals-notably the recision of tax advantages for capital gains-had been eliminated. He urged the businessmen to support the provisions they approved of rather than oppose the entire bill. But when he said the economy was doing well in all respects except the stock...
...Israel, the rash of ruined oranges constituted both a new kind of Palestinian attack and a potential economic disaster. The $172 million annual orange export trade is one of the country's major sources of foreign exchange. Israeli growers insist that the injecting took place at shipping centers in Europe and not at the groves themselves; their hypothesis sounded more and more reasonable as first Spanish and then Moroccan oranges, which move through the same European distribution system, displayed the same mercury traces. The Jerusalem Post sarcastically attacked the Palestinians: "They now send their freedom fighters to stab?...
India's Prime Minister Morarji Desai, 81, is such a devout Hindu that he not only refuses to eat meat but he refuses to be vaccinated against smallpox because cattle were used to make the vaccine. Now Desai has decided to ban the export of rhesus monkeys as of April 1. India is the world's largest exporter of the animals (20,000 last year), and the U.S. is the largest importer (more than 12,000). If Desai's ban takes effect on schedule -and one aide says the Prime Minister's "mind is closed...
...February Esquire Richard Reeves argues that the people who make California prosper are exporters of ideas. "They export ideas of a sort, ideas with a California twist, or twisted California ideas--drinking vodka, est, credit cards, student revolts, political consultants, skateboards. . ." California hot tubbing is that California idea, right down to its redwood heart. If Americans are the new Romans, then we may be taking our new Roman baths in redwood tubs from California. And why not? Today, Santa Barbara, tomorrow--the world...
...connection that, according to veteran observers in Manila, was invoked to win a major share of the government's nuclear plant construction contract for Disini's client, Pittsburgh's Westinghouse Electric Corp. Allegations about the suspicious nature of Disini's services recently prompted the U.S. Export-Import Bank, which is providing much of the financing for the project, to ask the Justice Department to determine whether Westinghouse made improper payments to a foreign business agent. Troubled by an embarrassing international scandal, President Marcos last week told TIME Correspondent Richard Bernstein: "Westinghouse has some things to explain...