Word: repays
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...account for as much as $50,-000. SIPC would be empowered to raise an initial fund of $75 million, and eventually $150 million, from brokers. In a pinch, it could also borrow up to $1 billion from the Treasury to pay off customers of insolvent brokers; it would repay the loans by assessing solvent brokers...
...common stock. An employee-owned trust, set up somewhat like existing pension and profit-sharing trusts, would buy the shares with money borrowed from a bank. Here the tax quirk comes into play: the company could agree to make tax-deductible contributions to the trust to enable it to repay the loan; if the company itself borrowed the money from the bank, the loan would have to be repaid in after-tax dollars...
Without corporate income taxes, the dividends from the employee trust's investment ought to average $4,000,000 a year, says Kelso, enabling the trust to repay the loan in five years. After that, each of Beneficial Paper's 1,000 employees would not only own $20,000 worth of stock' but would also have a second income of $4,000 a year...
...bomber experience, the Administration lifted the threat of layoffs hanging over thousands of Southern California aerospace workers in an election year. Now Wall Street brokerage firms are asking Washington for a line of credit of about $1 billion in order to protect customers. The fund could be used to repay money owed to investors in case more firms fail because of rising costs, falling income, inefficient operations and losses suffered in the long bear market...
Balky Judge. LTV must repay $55 million in interest to its banks next January and an equal amount next July; a primary problem of the new board is meeting those installments. Last week LTV announced that it expected to prepay up to $47 million of the debt "in the near future." The money will come from the sale of Wilson Sporting Goods, which was disposed of in February. Discussions have also been going on with several possible purchasers of Braniff Airways and Okonite Co., two sizable pieces of LTV that Ling agreed to sell in return for the Justice Department...