Word: fee
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Dates: during 1970-1979
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...money, up to $1.5 billion, that they lend to Chrysler if the auto firm is unable to repay the loans. This promise should enable Chrysler to return to the money markets that have been closed for the past year. The automaker, moreover, will pay the Treasury an annual fee of at least 1% of the sum guaranteed...
...auction houses is not a lack of public interest but the shortage of salable material. To lure valuables into the marketplace, they run ads in local papers urging people to rummage through their attics. Sotheby's also runs so-called Heirloom Discovery Days, on which for a small fee expert appraisers evaluate real and imagined treasures. A woman dropped in at its Los Angeles branch with a shoe box of attica that she had planned to give to the Salvation Army; the six Faberge silver-and-enamel pieces she unwrapped sold...
...Aramco is under attack because of a highly complex tax break. The company pays Saudi Arabia the fixed price for the oil that it extracts and then collects a production fee of 25? per bbl. But 85% of its payments are considered Saudi income taxes, which Aramco's four parents ultimately can use to reduce their U.S. income taxes. Every time Saudi Arabia increases its oil prices, Aramco's local tax payments rise, and so do its benefits under the U.S.'s so-called foreign tax credit. President Carter has vowed to tighten up on the credits...
...since a full buyout would burden the four corporate shareholders with enormous U.S. capital gains taxes? Nonsense, say Saudi officials. They insist that the final take-over is imminent and would have no effect on the company's operations beause Aramco would continue to run them for a fee. But skeptics suggest that the takeover might already have been consummated. They contend that the Saudi government's action in providing Aramco since last July with oil at much less than its real market value was in part to compensate the company, free of capital gains taxes...
Schwartz's defenders note that both in absolute dollars and as a percentage, his fee is smaller than that awarded in a San Francisco transit settlement. Critics, however, see the Boston circumstances as different: Schwartz was involved in the suit for only two months rather than years, on behalf of an agency that depends on taxpayers to cover two-thirds of its budget. As Frank puts it, "When the public sector is as desperately poor as it is, no one ought to get rich...