Word: gets
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Dates: during 1980-1989
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...want to get the government mad at you -- even a local government. I once wrote an article critical of New York City's tax department. Two months later, I was summoned to a three-year audit. At the time the city was auditing only about one New Yorker a day -- out of 8 million -- but it was probably just coincidence they chose...
Imagine how much worse it must be to get a really big government mad at you -- like the U.S. Government, in the person of former U.S. Attorney Rudolph Giuliani. That's what money manager James Sutton ("Jay") Regan, 47, seems to have done. His firm, Princeton/Newport Partners, was charged with making a series of bogus trades in 1984 and '85 to claim tax losses. The trades were shams, argued the Government, because though Princeton/Newport really did sell securities in which it really did have losses, the firm didn't really sell them because it had an unwritten deal...
...sell related securities at the same time. You lose on one and gain on the other, but if you've done the math right, you'll usually lose a little less than you gain. Yippee! But you've got to keep your transaction costs low and, of course, not get caught with a taxable gain on one half of the hedge without realizing your loss on the other half. It was to avoid that hitch, basically, that Princeton/Newport entered into understandings with Drexel Burnham Lambert and other firms to make these tax sales. "Look," Regan's traders said in essence...
Cable-industry observers are skeptical about whether two all-comedy networks can survive, given the limited channel capacity on most cable systems. As "basic cable" services, they will get their income primarily from advertising and will need to reach 25 million to 30 million homes to be financially viable. Comedy Channel executives report that they have signed up cable systems serving 11 million homes, though only about 6 million will be on board at start-up time. HA!, which has just begun marketing, says it has preliminary commitments for 2 million homes...
...same stressful time, Detroit's automakers will be going through a major changing of the guard: all three companies are expected to get new chief executives in the space of two years. Late last week Ford Chairman Donald Petersen, 63, who helped engineer that company's heroic comeback, said he will turn over the posts of chairman and CEO on March 1 to Harold Poling, 64, a vice chairman...