Word: optionable
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Dates: during 1950-1959
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Last year, the Revenue Act of 1950 offered a partial solution to the puzzle. It permitted corporations to give executives options to buy stock at bargain prices (usually at 85% to 95% of the market price). If the executive sold the stock after holding it at least six months, his profit would be taxed at the low capital-gains rate of 25%. This meant real income for anyone in the surtax bracket. In the past year, more than 100 corporations have adopted stock option plans...
...popped Republic Steel Corp.'s Counsel T. F. Patton. Said he: Republic needs a stock option plan to hold on to its top executives. Last year, before the company adopted its plan, Republic lost three top men to other companies which offered fat extra-salary benefits; even President Charles M. White had been approached. But Lawyer Arthur Dean of Manhattan's top-drawer firm of Sullivan & Cromwell probed right to the heart of the matter. Unless companies can reward their executives by such devices as stock options, said Dean, they will slip away in increasing numbers to enter...
...week's end, the panel recessed, undecided whether stock options are inflationary or not. Also undecided: If the option plans are thrown out, by what other means will U.S. industry find merit incentives for its top management...
This week, with no indication of where he was heading next-or when-Louis B. Mayer made his resignation official. Hollywood, which had long since circled June 30 on its calendar-the day Mayer's annual option comes up-settled back to wait for a few more details...
...vote seemed governed by two essentially negative sentiments: discontent and routine. The vote for the Communists was probably as much the French workers' continued protest against still-too-low wages and rising prices as an avid option for Moscow from doctrinaire party members. Gaullist votes mostly recorded dissatisfaction with Third Force bumbling...