Word: pretax
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Dates: during 2010-2019
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...Herzberg's group as a fee for the put option - a payment that many developers may be reluctant to cough up. "20% is astronomically high!," says one analyst, who did not wish to be named. "What builder would give away 20% when they're doing 5% or 10% [pretax] margins? If they gave away 20% of the house price, they'd lose money on every house." He sees a 2% or 5% charge being more reasonable...
...billionaire businessman Anil Agarwal. Vedanta's aluminum subsidiary plans to invest $2.5 billion to extract some 78 million tons of bauxite from the Niyamgiri mountain. Its chief operating officer, Mukesh Kumar, insists that the mine will benefit the Dongria - the company will set aside 5% of the mine's pretax profits for a local development agency - and that it has followed all the relevant Indian laws. "Whatever we do, we do in a transparent manner," he says. Yet the Dongria have become a cause célèbre. Bianca Jagger and the British actress Joanna Lumley have taken...