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Having felt the sting of its radiation as far away as France and Sweden, the West was more than happy to pick up the tab for taking Chernobyl offline in December. But the Ukrainian plant's sole surviving reactor is only one of many Soviet-era, RMBK-type reactors still operating throughout Central and Eastern Europe - and that's a problem that'll likely loom for decades. President Leonid Kuchma announced the plant's final closure Monday to coincide with President Clinton's visit to the Ukraine. Washington will provide some $78 million in aid to secure the reactor that...
While the press tends to treat Greenspan as the sole author of interest-rate policies, insiders and Fed watchers know that is hardly the case. Greenspan, actually considered a moderate among the group's inflation hawks and doves, is clearly first among equals and exerts a considerable influence over the FOMC. But as a careful consensus builder, he is also at pains to stake out positions that the rest of the committee can live with--and thereby avoid any risk of being embarrassed by a close vote. "There is a limit to how far the chairman's influence...
People forget that 500 years ago, China was the world's sole superpower. When many Europeans were living in mud huts and scratching the soil with sticks, China was the greatest economic and military power on earth. A hundred years before Europe began its mastery of Asia and America, China had the biggest and best navy in the world. But for an accident of history, Europe would be speaking Chinese today. China discovered the inventions that would pave the way to world mastery for those who put them to use: the printing press, gunpowder and the magnetic compass. Given this...
...your career in his hands. For example, Knight verbally abusing a player is parallel to a young executive who is singled out and verbally harassed at a meeting by a superior. Both the player and the young executive know that their elders hold the sole key to their respective successes: One to the NBA, one to upper management. They also each know the grim truth: Bearing witness to a superior's misbehavior can be tantamount to career suicide...
...annual gifts or lifetime exclusion go further. A typical example would have you place shares of a family-owned business in the partnership and then give away shares of the partnership. But flps can hold any asset, including publicly traded shares. Just retain full control of the partnership with sole discretion over when to sell any assets held by the partnership. The irs then discounts the value of the assets in the partnership by up to 40%, as they are illiquid to the general partners. In this way, a married couple could gift, say, $20,000 of partnership stock (staying...