Word: itemizes
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...Kellogg relies on domestic cereal sales for 42% of its revenues and 43% of its $1.26 billion in operating profits. The company said it would lower prices only on a brand-by-brand basis. For instance, this month it lowered the price of its Raisin Bran, a fiercely contested item, 15%, to $3.40 for a 20-oz. box. No. 2 General Mills was also standing pat. Big G took the first stab at price cuts two years ago, when it lowered the price of Wheaties, Cheerios and other cereals an average of 11%. It has gained market share. Says John...
...Milton Berle that was expected to sell for $2,000 to $2,500 went for $574,500; $442,500 for an oak rocking chair used in the Kennedy White House; $48,875 for a Tiffany silver tape measure engraved with Mrs. Kennedy-Onassis' initials. The list goes on, each item far exceeding the expected sale price. Thus many who had made the trip to an auction house for the first time in their lives in the hopes of owning a piece of Camelot quickly saw their hopes outbid by the frenzied buyers. Bruce Wolmer, editor in chief of Art & Auction...
...ONLY WE HAD THE LINE-ITEM VETO. FOR YEARS--decades, actually--that wish has been a mantra. Editorial writers, good-government groups and all modern Presidents have wanted to give the Chief Executive the power to comb bloated budget bills and X out the most nonsensical portions, notably the pork-barrel provisions that members of Congress trade among themselves. In fact, straight-shooting members of Congress have been trying to give Presidents this authority since 1876. Forty-three state Governors have had it for years. Now, finally, the call is being answered. Last week the House and Senate approved...
Opponents of the line-item veto, which they contend is unconstitutional, abhor the unprecedented shift of power from Congress to the President. "The control of the purse [by Congress] is the foundation of our constitutional system of checks and balances," says Senator Robert Byrd, who is legendary for directing wasteful spending to West Virginia. Byrd predicts that Presidents will use the measure to blackmail members of Congress into rubber-stamping White House plans out of fear for their own pet projects. That worry isn't entirely off the wall--Presidents play politics too--but it's more likely that Congress...
Although long overdue, the line-item veto is hardly a cure-all. The legislation is riddled with loopholes and will expire in eight years unless Congress extends it. Worse, the obvious pork in the budget amounts to no more than about $10 billion of all federal spending--less than 1% of the total. And getting a handle on the nation's true, long-term spending problems--the product of an aging population entitled to benefits for which there are increasingly insufficient funds--will have to wait for another day. The giant, budget-busting benefit programs, mainly Social Security and Medicare...