Word: profiteer
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Dates: during 1960-1969
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...other is retired Major General Carl C. Turner, 56, the Army's former provost marshal general, or head military policeman, who later served as chief U.S. marshal in the Justice Department. Turner, according to testimony, quashed an investigation of Wooldridge and also sold Army firearms for personal profit...
Turner, a short, peppery former paratrooper, was called before the committee last week, but most of the interrogation involved his admitted sale of Army guns for personal profit. Turner acknowledged that, when he was provost marshal general and shortly after he retired, he had received 688 weapons confiscated by police and customs officials. At the time, he signed receipts saying the guns were for Army use, but in his testimony he insisted that the receipts were a mere "formality." Not so, said a spokesman for one of the donors, Chicago Police Superintendent James Conlisk: "The general is engaging in falsehood...
Turner admitted failing to pay income tax on the $6,800 profit from the gun sales, claiming that he had not known that "hobby" income was taxable. He also explained that he had lost his account ledger but filed amended tax returns this month to reflect the sales. Said Senator Charles Percy in disbelief: "It seems to me that not showing this profit in your tax returns has nothing to do with seeking a loophole. This is evasion. You are either incredibly naive or you have evaded payment of income taxes...
Whatever happens to the Mets this week, baseball is sure to profit by their stunning success during the season. All through the '60s, baseball has been on the verge of transforming itself from the national pastime into the national bore; it has lost considerable stature as the more colorful and violent games of hockey and football have won increasing prominence. But with one brave stroke, the 1969 Mets reversed that trend. Their own exhilarating transformation from hopeless clowns to heroic champions has extricated baseball from its beer-and-TV tawdriness and elevated it to the realm of myth...
...novel idea of making inland waves for fun and profit came to a young Phoenix draftsman after a stay on the California coast in 1965. It took Phil Dexter a year to build his first model -in his backyard-and another year to get it working the way he wanted it. Clairol Inc., which uses surfing as a motif to promote hair coloring, put up the two million for the project. Now, two years later, it includes a 20-acre Polynesia-style complex of palms and high-roofed South Pacific huts housing shops, concessions and picnic areas...