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Walter G. Hibbs, 42, whose oilfield tool companies in Houston earn him more han $100,000 a year, protects part of his ncome through a second business venture that leases air compressors to oil-well operators. The oilfield equipment benefits from complex tax credit carry-forwards and depreciation, thus accumulating losses that are used to offset his leasing-company profits. Says Hibbs proudly: 'We've never paid a dime in taxes on those profits...

Author: /time Magazine | Title: Business: Finding Shelter from the Storm | 9/1/1980 | See Source »

...there's no reason to know how everything fits into Lucas's cosmic scheme when you see The Empire Strikes Back. What's important to remember is that when we last saw Luke, Princess Leia (Carrie Fisher), Han Solo (Harrison Ford), Chewbacca (Peter Mayhew), C-3PO (Anthony Daniels) and R2-D2 (Kenny Baker), they were celebrating their destruction of the Empire's ominous Death Star, oblivious to the escape of arch-nogoodnik Darth Vader (David Prowse...

Author: NO WRITER ATTRIBUTED | Title: The Bombs | 7/4/1980 | See Source »

Most of the Rebels easily evade the Imperial invasion, but Han, Leia, Chewbaca and C-3PO stay behind until Darth Vader's black robes nearly envelop them. They then take to the dilapidated and constantly malfunctioning Millenium Falcon, in which they escape from their crumbling arctic fortress only to be pursued relentlessly by a fleet of Imperial star cruisers...

Author: NO WRITER ATTRIBUTED | Title: The Bombs | 7/4/1980 | See Source »

...story line continues the basic good-guys vs. bad-guys theme of the original film. Darth Vader wants Luke, and he uses Leia, Han, Chewbaca and C-3PO as bait to lure the young hero into his chillingly evil clutches. Like its predecessor, Empire provides some genuinely comic moments and some downright dimwitted dialogue. But unlike the original, the new film contains some truly shocking plot twists...

Author: NO WRITER ATTRIBUTED | Title: The Bombs | 7/4/1980 | See Source »

...northwestern provinces of Iran. The Muslim groups that straddle the Sino-Soviet border, for example, have traditionally fared somewhat better under Moscow's tutelage than Peking's. The Russians' fast-approaching status as a minority in their own country forces them to be more compromising than the Han Chinese, who make up more than 90% of the 1 billion citizens of the People's Republic...

Author: /time Magazine | Title: Inside The U.S.S.R.: A Fortress State in Transition | 6/23/1980 | See Source »

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