Word: largest
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Dates: during 1990-1999
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...sure of that." That added confidence means capital flight out of Brazil and its currency, the real, should stop -- and that can ensure a recovery in and of itself. Adding to the warm fuzzies is this happy parallel: The U.S. is chipping in $5 billion on its own, the largest such committment since the bailout of Mexico in 1995. And that, not coincidentally, was the last time an IMF rescue actually succeeded...
...employees add vacation days to business trips if they want allows his firm to save on airfare--because of cut-rate Saturday-night-stayover airline prices. And his grateful employees get the added benefit of a mini-vacation at no cost to them. "I may be competing with the largest public relations firms in the world for employees; I need to differentiate myself from the big guys," Daly says...
...that's corporate welfare's greatest flaw. It's unfair. One role of government is to help ensure a level playing field for people and businesses. Corporate welfare does just the opposite. It tilts the playing field in favor of the largest or the most politically influential or most aggressive businesses. In the next story, and those that follow in the coming weeks, you will meet the beneficiaries of corporate welfare--and the people...
...Mexico and the community of Rio Rancho, just north of Albuquerque, won the bidding war by showering Intel with tax abatements and other assistance. Sandoval County, where the company erected its fab, authorized $2 billion in industrial revenue bonds in 1993 and an additional $8 billion in 1995--the largest local-government bond offering in history. The county held title to the land, building and equipment, which it leased back to Intel...
...although Intel is one of the largest corporate income taxpayers in the state, it has fared well in recent years. Documents filed with the U.S. Securities and Exchange Commission show that in 1991, Intel paid corporate income taxes to state governments at an effective rate of 8.6%. By 1997, while the company's taxable income had spiraled upward 1,097%, its overall state tax rate had dropped...