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...Government. Then the first company leases back the equipment. The agreement benefits both sides: the profitable company gets a valuable tax break while the firm losing money earns some cash and still has its machinery on lease. In one of the largest of these transactions last year, Ford Motor Co. sold some $1 billion worth of new machinery and tools to International Business Machines. A tax credit of between $100 million and $200 million came along with the property. Ford leased the equipment back from IBM, so it still uses the machinery even though it no longer owns...

Author: /time Magazine | Title: A Brake on Corporate Tax Breaks | 3/15/1982 | See Source »

...Kevin Porter, Ralph Simpson, Eric Money, John Shumate, Chris Ford, Ben Poquette and M.L. Carr. Once childhood heroes, these were the guys I worked with. In December, when the Detroit Piston Basketball Corporation Christmas cards arrived, there I was--along with the players, coaches, secretaries and janitors wishing the Motor City fans a happy Noel...

Author: By Andy Doctoroff, | Title: My Buddy, M.L. Carr | 3/12/1982 | See Source »

...making a left turn and remembered in a flash that while there are lines of traffic in New England stopped at red lights, the Texans are more efficient, using four-way stop signs, one of which I hadn't noticed because I was worrying about the motor stalling My right foot braked; there was a crunch of metal against metal and a thud when my left arm hit the dashboard. What would my father think? What about the lady in the other car? What about the Oranges...

Author: By Naomi L. Pierce, | Title: Car Wrecking Texas-Style | 3/9/1982 | See Source »

Behavioral Effects. The principal active element in marijuana, delta-9-tetrahydrocannabinol (THC), like alcohol, impairs motor coordination, the ability to follow a moving object and to detect a flash of light. Since these functions are necessary for safe driving, the report notes, their impairment "may suggest a substantial risk." The effects may last four to eight hours after the time the user feels a "high," unlike alcohol, which is more quickly metabolized. Marijuana hampers short-term memory, slows learning and produces distortions of judgment, including reactions of panic and confusion. Consequently, there is special concern since much of the heavy...

Author: /time Magazine | Title: Medicine: Another Sort of Smoke | 3/8/1982 | See Source »

Unemployment is expected soon to reach the highest level since 1941, the economy is mired in recession, industrial production dropped by 3% in January alone, and domestic auto sales are running at the slowest pace since the beginning of the Kennedy Administration. Two results of all those woes: Ford Motor Company announced last week that it lost a staggering $136.6 million loss during...

Author: /time Magazine | Title: Givebacks and Headaches | 3/1/1982 | See Source »

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