Word: martini
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...weeks ago the Senate challenged the so-called three-martini lunch by voting to slice in half the tax deduction for executive dining out. The National Restaurant Association predicted that the measure, which is part of the Senate's proposal to raise $98.4 billion in new revenues over the next three years, would lead to a $1.7 billion drop in restaurant sales annually and a loss of 63,000 jobs. Said Harry Freeman, senior vice president of American Express: "This is a threat to the entire travel and entertainment industry." In Philadelphia, the International Association of Convention and Visitors...
...unexpected vote on business dining was the first effort to curb those deductions since Jimmy Carter's abortive crusade in 1978 against what he called the three-martini lunch. Reaganites were almost as startled by the decision as businessmen. Conceded John Chapoton, the Assistant Treasury Secretary for Tax Policy: "It came as a complete surprise to me. None of us had heard about this...
...three-martini lunch has always been more of a political symbol than a business reality. Probably the most common drinks these days at executive lunches from Manhattan to Malibu are Perrier and white wine. John O'Toole, chairman of New York City's Foote, Cone & Belding advertising agency, was bemused by the Senate action. Said he: "I get a dismal sense of déjà vu. Didn't this happen just a few years ago?" Harry Poulakakos, owner of Harry's at Hanover
...package, which would raise $21 billion in its first year, was fashioned largely by Dole. Its biggest surprise was an attack on the "three-martini lunch," long decried by liberals as a subsidy for the rich. Over the objections of the hotel and restaurant lobby, the Senate voted to reduce by half the deduction allowed corporations for business-related meals and entertainment in town; a traveling businessman or woman would still be able to 5 deduct these expenses in full. This tax increase was added when a proposal to withhold a part of restausrant tips was defeated...
...success, albeit their husband's. Molloy regales the reader with parables of careers fallen victim to poor marriages, later-day. Eves whose slight inebriations at social functions and general lower-class habits have expelled their husbands from their professional paradises. His tone concerning one wife who publicly gulped a martini is solemn: "It so happened that his wife was a surgeon, and may have had a very good reason for wanting that martini, but it killed his career nevertheless...