Word: ponts
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...While Bermuda, the Bahamas and The Netherlands Antilles loudly proclaim themselves tax havens, Luxembourg has quietly become a veritable tax heaven. Unlike any other Common Market country, it imposes practically no taxes on holding companies. Luxembourg now has more such enterprises (2,300) than it has soldiers (550). Du Pont, Uniroyal, Olivetti, Amo- co and other multinational giants have set up holding companies there and pay dividends and interest to them, taxfree. The holding companies then use the money to finance parent-company operations in other countries. Luxembourg is also a favorite neutral meeting ground for partners in joint ventures...
...keenly disappointed," said an official at Shell Oil, which had proposed a $100 million littoral refinery. "We're particularly sorry to see that emotionalism was permitted to obscure the fact that we are capable of building a clean refinery." But Peterson, himself a former Du Pont executive, has become convinced that performance controls "are not an effective enough safeguard" against pollution; he especially fears for the state's handsome beaches which now support a thriving tourist business. Besides, the Governor warned, a massive influx of industrial workers "could build population pressure that would create more problems than...
...Government are bent on forcing tough reforms. The Federal Trade Commission in particular has been working inventively to root out deceptive ads. In a variety of actions it has challenged some advertising of giant companies including Coca-Cola, ITT, Continental Baking, Standard Oil of California, Du Pont, Mattel and MacDonald's hamburger chain. In response, ad agencies and their clients are now taking their most serious step yet toward self-regulation...
Perot intends to make F.I. du Pont one of Wall Street's strongest brokerages no matter what the cost. "I believe in over-financing, if necessary, to restore confidence in the firm after what it has been through," he says. "I am going to make it as solid as the Prudential." One small problem is that his own wealth is almost wholly in E.D.S. stock, and that is not always a good rock to build on. In nine days last April, E.D.S. stock dropped from 150 to 75, and Perot's paper value plunged from just under...
Perot has not ruled out the idea of buying into other Wall Street houses, though he has no definite plans for doing so. The computer wizard is convinced that his investment will pay off not only for Du Pont but also for his own company. Though brokerages have spent millions on computer technology, he believes few of them are using it wisely. Perot intends to make Du Pont a model operation. "Just imagine the impact when E.D.S. turns Du Pont around," he exults. "It will mean plenty of business for us because we will have dramatically proved to the financial...