Word: gross
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Dates: during 1970-1979
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...economics are elementary: buy cigarettes in a low-tax state like North Carolina (2? tax per package), bootleg them to a high-tax state like New York (as much as 23? per package) and count the profits. This year, buttleggers should gross some $500 million, most of it pocketed by organized criminals. Concerned tax agents from eight government units (the states of Pennsylvania, New York, Connecticut, Massachusetts, New Jersey, Maryland and Virginia, plus New York City) guess they are losing up to $300 million annually in revenues through interstate smuggling...
...long pretrial hearings, an eight-month trial involving millions of dollars in legal fees and nearly 20,000 pages of transcripts, followed by 14 months of deliberation, New York Surrogate Millard Midonick handed down a crushing verdict. The executors, he found, had acted with "improvidence and waste verging upon gross negligence." They had sold 100 Rothkos to Marlborough for an "unconscionably low" $1.8 million. They had also allowed Marlborough an inflated commission of 40% to 50% on consignment sales of the other 698 paintings...
...Production of goods and services, discounted for inflation, will rise about 6.2% for the year. That will make 1976 a year of growth after the longest downturn since 1947-48; real gross national product dropped 2% in 1974 and probably will be down a shade under 3% in 1975. But the growth rate will slow at least a bit by the end of 1976, unless Government policy changes unexpectedly...
BRITAIN is experiencing a slowing of the rate of decline in gross domestic product, an indication that the economy is bottoming out. Still, the country faces huge obstacles. Prime Minister Harold Wilson's pact with the unions, which holds wage increases to $12 a week, could reduce the inflation rate from this year's staggering 25%. But unemployment, now 1,250,000, is expected to remain at that painfully high level next year, and economic growth is forecast to be a paltry...
...Kupka exhibit starts at the top of the Guggenheim and spirals down through time, following the turns of "modern art." Kupka imitates or reflects dominant influences of his time: Matisse, Delaunay, Gross, Mondrian, Kay Nelson. But in looking at the works as a retrospective of the major aesthetic revolutions of our time, Kupka's theoretical contribution to those revolutions should not be ignored. Nor should his artistic (well, not genius, but) talent: his sensuous lyricism, keen sensitivity, and his occasional inspiration. Kupka is a mirror worth looking...