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...legal labyrinth of ownership took years of interagency pick-and-ax work. In the end it demonstrated how nefarious activity - even as high profile as this - can go on for years, right under authorities' noses. It's also meant that tenants of the prestigious Manhattan property have been paying millions in rent to Tehran every year - $4.5 million in 2007 alone. Last November, more than 30 years after the Islamic revolution, U.S. officials moved to take over all of Alavi's U.S. properties and bank accounts, spread over five states...
...expect Delaware to do anything to tamper with this profitable business line. The state's division of corporate services recently boasted it spent just $12 million to earn $700 million - a quarter of the state's annual revenue. That enviable cost-revenue ratio has triggered copycat competitors. It couldn't be easier. Apply online - providing less ID than it would take to get a library card - and have it all processed within 24 hours, for little more than $100; Nevada and Delaware will do it all in an hour for $1,000. Then, for modest fees, enjoy the illusion...
...course, the vast majority of the 2 million new corporations formed in the U.S. every year are legitimate businesses, taking advantage of these vehicles' ability to fence off liability so that entrepreneurs are not risking their entire financial viability in any one venture. In practice there can be multiple incorporations in a single deal. But critics say that the original intent of incorporation has been corrupted in the last 20 years as the conveniences offered by offshore tax havens - demand turbocharged by a boom in financial engineering - has degenerated into a race to the bottom to sell secrecy...
...Faculty of Arts and Sciences has cut down its deficit to $80 million, which amounts to a $30 million decrease since FAS Dean Michael D. Smith announced in September that the University’s largest school had cut half of its projected deficit, according to a high-ranking FAS administrator...
...Canadian goal is to win the most medals. You know, own that podium. And after the organization has spent $62 million in government funds to fine-tune the Canadian Olympic machine, Jackson's jocks had better deliver. What will happen if they don't fulfill his gold guarantee? "I'm going to try to find the quietest little island," says Jackson, "so that no one can find me." Surely, Canada would want to take out its pent-up aggression...