Word: panama
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...Fantasticks is a sugary off-Broadway musical that has been running for ten years. With serene irrelevance, it has been variously described in the Goings on About Town department of The New Yorker as: "A man, a plan, a canal: Panama!"; "Close cover before striking match"; "Rock of ages, cleft for me"; and "Diddle, diddle, dumpling, my son John." Associate Editor Gardner Botsford explains that he gets bored writing the same straight capsule reviews of long-run shows. So did Robert Benchley when he handled theater listings for the original Life magazine in the '20s. Of Abie...
...opaque plastic wrappers. Political censorship is somewhat more subtle. By telephone or personal visits, Brazilian army officers tell publishers and broadcast executives which subjects are taboo. The latest taboo is any mention of the torture methods that are blatantly used by police and military against political prisoners. In Paraguay, Panama, Haiti and Cuba, the rules are simpler still. No opposition newspaper is allowed, and all papers are subject to seizure...
...banana republic. It is not run by a gaudily uniformed strongman backed by a well-equipped little army. It does not even have an army; the last one was disbanded in 1948. When Lyndon Johnson visited the country in 1968. the Costa Ricans had to borrow a cannon from Panama so that they could give him the customary 21-gun salute...
...unarmed gunboats, and France returned the $10 million. When the boatbuilder bemoaned his potential loss, according to one account, no less an official than Premier Jacques Chaban-Delmas personally urged him to finish construction, saying: "It will work out." Next, a firm called Starboat & Weil, incorporated in Panama in November and having an Oslo address, offered to buy the boats for offshore-oil exploration. Starboat's incorporator was Ole Martin Siem, 53, much-respected president of Norway's largest shipbuilding firm, the Aker Group. The operating heads of Starboat, however, turned out to be Israelis who had ordered...
...Havens. A raffish odor clung to I.O.S. for years because its legal home was Panama and so many of its 100 subsidiaries were incorporated in tax havens -the Bahamas, Luxembourg, the Netherlands Antilles. (One result is that I.O.S. paid only $945,000 in taxes on its 1968 income of $15.3 million.) Lately, as Cornfeld's success has led dozens of other mutual funds to incorporate "offshore," the tax-dodging criticism has lost much of its sting. Last June, I.O.S. quietly shifted its legal domicile to Canada. European bankers who once sneered at Cornfeld's brash ways have lately...