Word: repays
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...midst of this scramble, some governments are setting up controls to keep the fight from getting completely out of hand. Connecticut, for example, has created "clawback" agreements that require corporations that fail to meet job targets to repay tax subsidies. Minnesota scaled back $620 million in aid to Northwest Airlines after it delivered fewer than 1,000 of 1,500 promised jobs. Washington has also grown concerned. Senator Jeff Bingaman, a New Mexico Democrat, wants the Commerce Department to decide whether companies that receive tax benefits should be required to file cost-benefit analyses and stand behind their job pledges...
LITTLE ROCK, ARKANSAS: Financier David Hale, who initiated the Whitewater investigation with allegations that President Clinton pressured him to make an illegal loan, was sentenced today to 28 months in prison and directed to repay the government $2.04 million. Hale pled guilty in March 1994 to two felony charges of defrauding the Small Business Administration in order to receive matching federal funds for his investments. Hale has said that in 1986, then Arkansas governor Clinton and his Whitewater partner James McDougal pressured him to make a $300,000 loan to Susan McDougal. At today's sentencing, the federal judge...
...property to Seth Ward, Webster Hubbell's father-in-law, for $1.15 million. Madison lent the entire purchase price to Ward, a loan for which Ward was not personally liable. McDougal also promised Ward that as lots from his land were sold and the proceeds used to repay the Madison loan, Ward would earn a 10% commission on the sales, whether or not he generated the sales. The Castle Grande acquisition and sales were described in a Federal Government report as "a series of flips and fictitious sales," shams intended to disguise Madison Financial's control of the parcel...
Other administrators, such as Kennedy School of Government Dean Joesph Nye, point towards the financial incentives of the private sector, combined with the shrinking size of governmental budgets and bureaucracies--inevitably turning many talented individuals, often with substantial loans to repay, away from public service...
What's more, the money chase could serve Forbes in a highly personal way. Unlike Ross Perot, Forbes is not giving his own money to his campaign. He's lending it--with the option to repay himself later from any donor funds that remain unspent at the end of his campaign. If he gains the White House, he can also legally undertake postelection fund raising until he completely pays back his IOUs to himself. Though he says they haven't discussed it, Dal Col adds, "I'm sure Forbes would do it, pay himself back." In the meantime, by fronting...