Word: lost
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...this year, companies in the Standard & Poor's 500 are likely to have lost as much as $400 billion since the start of 2008, according to S&P. It's a sign of just how badly the recession has hit big companies. But it could also turn out to be a leg up for corporations in the recovery. All that red ink could turn out to be a little-noticed boon for corporate bottom lines. That's because companies are allowed to record a tax credit for current losses in order to lower their tax bill when they return...
...recession. Typically, companies ring up tax credits in down years and use the credits to plump up the bottom line when business picks up. But what is turning the run-of-the-mill tax credit into a bonanza this recovery is the huge amount that corporate America has lost in the past two years. Also, stimulus spending has turned around the economy and corporate profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter, is raising the value of the tax credits because they...
Public companies record two types of earnings, one to the SEC and one to the IRS. It is perfectly legal for these numbers not to match, and often they don't. In 2008, retailer Macy's lost just under $5 billion, but only $33 million of that qualified as a tax loss eligible for credits against future profits. Other times a company books a much bigger tax benefit than its actual losses. Citigroup, for instance, had a bottom-line loss of nearly $28 billion in the numbers it reported to shareholders and the SEC. But at the same time...
...career, a tennis commentator said Agassi went from "punk to paragon." Agassi, who has dedicated his post-tennis life to expanding the Las Vegas charter school he founded, hated that handle. He insists the Agassi of the mullet and acid-washed jeans wasn't a punk; he was just lost. And "paragon" is simply hyperbole. Agassi's evolution, however, is still striking. So we'll offer him a more fitting, if less catchy, epithet: from anguished soul to outstanding author...
...called for sanctions in the past. She has said she is open to rescinding the call if the regime agrees to engage in a genuine dialogue with her, her party and ethnic minorities. The junta plans to hold elections next year for the first time since 1990, when it lost to Suu Kyi's party, the National League for Democracy, by a landslide and then ignored the results. Suu Kyi has been barred from participating in the upcoming poll, and unless she is pardoned, she will still be under house arrest when it takes place. Thein Sein recently told Southeast...