Word: loan
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...National Bulk Carriers, operates one of the world's largest private fleets of huge supertankers and cargo ships. He is also proprietor of an array of global enterprises, which include the Princess hotel chain in Mexico, the Bahamas and Bermuda, oil refineries and a number of savings and loan associations...
...America's survival-of-the-fittest economy. And the politicians seemed to take a hard line on Chrysler, casting aspersions on Chrysler's tax code shenanigans, and substituting them with their own plan. Treasury Secretary G. William Miller said that the government might aid Chrysler with a guaranteed loan of $750 million, but only after the corporation made internal sacrifices and set out a sound plan of recovery. President Carter, worried about recession and unemployment, agreed with Miller...
...Miller, Carter and the congressmen who came out for the guaranteed loan were playing political footsie, not political hardball, with Chrysler. The politicans seem to believe that the government-guaranteed loan is somehow radically new and different from Chrysler's original proposal of a tax credit. Just this weekend, Miller issued a curt statement that the tax credit "would not be acceptable...
...difference between the loan guarantee and the tax credit is, however, more one of form than of content. If the government guaranteed a loan of $750 million to Chrysler, and the company went bankrupt, the government--through the tax-payers--would foot the bill. If the government advanced Chrysler the money through the tax credit instead, it would take the risk of never getting its money back. But the choice between the two is like a choice between apples and oranges--pay now, pay later, it's all a matter of taste...
Usually, the tax remedy allows legislators to let a business have its way, and save their faces at the same time. The common ploy didn't work this time. Ergo, the public sits in on the birth of the guaranteed loan...