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Special benefits have been a feature of tax law for generations. They were long known as Louis B. Mayer rules because one of the first applied only to that Hollywood mogul. Nowadays they go by the name of transition rules, because they mainly keep open for a while, and for specific companies, tax loopholes that Congress is closing for everybody else. Collectively, the transition rules proposed by the Finance Committee would cost the Federal Government $5.5 billion in lost taxes, a relative pittance compared with the $25 billion of special favors in the bill passed by the House last year...

Author: /time Magazine | Title: A Flock of Fine-Tuned Favors | 6/30/1986 | See Source »

Several dozen pages cover former treasurer George Putnam Jr. '49, a Boston mutual-fund mogul with family ties to every Brahmin from Mac Bundy to A. Lawrence Lowell. Vigeland notes such amazing facts as that old George passed up the chocolate chip cookies at lunch, and lets him get away with comments like, "Being on the Corporation is fun. You meet interesting people. And it's a way of having something in common with your children who are in school...

Author: By Peter J. Howe, | Title: Blowing a Fortune | 6/3/1986 | See Source »

...million Americans born in the fecund years between 1946 and 1964, reaches mid-life. Former White House Wunderkind David Stockman and Actor Sylvester Stallone (Rocky, Rambo) turn 40 in 1986. So do ex-Mouseketeer Carl ("Cubby") O'Brien, Arms Control and Disarmament Agency Director Kenneth Adelman, Real Estate Mogul Donald Trump and Comedian Gilda Radner. At the tail end of the boom, the last members of the vast litter are graduating from college this spring and stepping into a not notably waiting world. Members of a generation that has made a pastime out of prolonged adolescence are being forced...

Author: /time Magazine | Title: Growing Pains At 40 | 5/19/1986 | See Source »

...Late Show Starring Joan Rivers will be more than just a pesky new competitor to Carson. It is the first salvo in a major assault on the three networks by Rupert Murdoch, the media mogul who last year bought Metromedia's six TV stations and 20th Century-Fox studios. Rivers' program is the first offering from Murdoch's new Fox Broadcasting Co., which he hopes will grow into a full-fledged fourth network. Along with the Rivers show, FBC plans to introduce two nights of prime-time programming next March (one announced show: a half-hour sitcom based...

Author: /time Magazine | Title: Video: The Joan Vs. Johnny Show | 5/19/1986 | See Source »

...computer mogul spoke on corporate social responsibility after IBM was awarded the Kennedy School's George S. Dively Award for Corporate Public Initiative. The honor, which was awarded for the first time this year by the Kennedy School's Center for Business and Government, commends the corporation for its domestic programs which help the disabled, minorities and women to find jobs...

Author: NO WRITER ATTRIBUTED | Title: IBM Says It'll Stay in South Africa | 2/5/1986 | See Source »

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