Word: stockings
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Dates: during 1980-1989
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Kahane's success in garnering headlines is a case-study in pre-packaged controversy. Every hate-monger carries a briefcase full of stock accusations, violent rhetoric and incendiary tactics. His first task is to find new situations to unleash his verbal barrage. Creating a pretense, however, is necessary but not sufficient. He must also convince people in the media that the alleged provocation and his resulting fury are worthy of coverage...
...long run, the new tax law is likely to be a boon to the stock market because it will sharply reduce the attractiveness of traditional tax shelters, ranging from real estate developments to cattle-ranching deals. One reason: investors will no longer be allowed to use so-called passive losses from these shelters to reduce their tax obligations on income from salaries and stock dividends. Says Norman Barker, a tax partner with Gibson, Dunn & Crutcher, a Los Angeles-based law firm: "I think it is safe to say that investors who once were in real estate and other tax shelters...
While the new law's short-term effect on the overall market is uncertain, it is sure to encourage investors to reshuffle the lineup in their portfolios, selling stock in companies that can be expected to pay higher taxes under the revised rules and buying the shares of firms that will benefit from the changes. The losers may include companies in such capital-intensive industries as utilities, chemicals, semiconductors and steel, which will relinquish numerous tax breaks. The investment tax credit will be dropped, for example, and depreciation schedules will be stretched out from 19 years to 31.5 years...
...Jean Hehn, a tax adviser in Port Washington, N.Y. "Well, there are so many ifs, buts and whens in it that it's going to bring our profession tremendous business for a long time." One sign of the trend: Shearson Lehman Bros. last week advised its clients to buy stock in H. & R. Block...
...strategist and unofficial spokesman of the Organization of Petroleum Exporting Countries for more than two decades, Sheik Ahmed Zaki Yamani could seemingly drive oil prices -- and the global economy -- up or down at will. A few words from the unfailingly suave sheik could make government officials shudder and cause stock markets from New York City to New Delhi to fall. With gallows humor, wags depicted OPEC at the height of its power as a highwayman who seizes his victim by the throat and cries, "Yamani or your life...