Word: leaseback
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Dates: during 1960-1969
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...advisers. His chief consultant, Irving Spaatz (Jules Munshin), is a legal weasel of wizardry inventiveness. Munshin plays the role in droll fashion and is astonishingly agile at working his way through a verbal tax maze of inflated gibberish that includes explanations of convertible debentures, spinoffs, and sale-leaseback arrangements...
...Murray sees it, the most blatant constitutional violation is church-owned property that is not used for religious purposes. Many state laws are so broad that churches-and fraternal organizations-may buy such property with leaseback arrangements under which they rent it to the former owners; income from the rents and leases is taxfree. The Roman Catholic Knights of Columbus do not pay income taxes on their rental revenue, which comes from such sources as the land on which Yankee Stadium stands, a Detroit steel warehouse and a Connecticut steel mill. In New Orleans, Jesuit-run Loyola University pays...
...Brazilian expedition, Hilton broke ground for hotels in Rio de Janeiro and Brasilia, made plans for construction of another in São Paulo. Total cost: about $21 million. A Brazilian corporation, partly financed by British interests, will build the hotels for operation by Hilton under his customary leaseback terms: a third of net profits will go to Hilton Hotels International, two-thirds to the owners...