Word: terme
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Dates: during 1980-1989
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...chairman of the House Ways and Means Committee has become the point man for the most ambitious attempt ever at overhauling the loophole-laden tax code. "The reform hat I am wearing is not yet comfortable," Rostenkowski cheerfully confessed to the Wall Street Journal last week. Nonetheless, the 14-term Congressman may be perfect for the task. Ultimately, late-night deals, not lofty ideals, will determine the fate of President Reagan's plan in Congress...
...chairman of the House Ways and Means Committee has become the point man for the most ambitious attempt ever at overhauling the loophole-laden tax code. "The reform hat I am wearing is not yet comfortable," Rostenkowski cheerfully confessed to the Wall Street Journal last week. Nonetheless, the 14-term Congressman may be perfect for the task. Ultimately, late-night deals, not lofty ideals, will determine the fate of President Reagan's plan in Congress...
...Thayer case was fairly unusual in the annals of corporate crime because it resulted in a stiff penalty. Of the 9,900 white-collar offenders sentenced last year, 60% received no prison term. Those sent to jail typically serve one year or less. In contrast, an estimated 70% of defendants convicted of all kinds of felonies go to prison or jail. Prosecutors and critics of the courts maintain that business crime is on the rise because corporate crooks have received such lenient treatment...
Harsh penalties may be the most effective deterrent to executive-suite misdeeds. Says U.S. Attorney Giuliani: "Corporate crime is a crime of greed and fear. The best way to combat it is to raise the fear." Experts hope that the sentence given Thayer and the long prison term that Butcher is expected to receive will send a message to would-be business criminals about the consequences of getting caught...
...pros as William Hickey, Robert Loggia and Lee Richardson, represent, despite their line of work, traditional values. They take the long, institutional view of their enterprise, understanding that its greatest asset is its reputation for squaring accounts with rigorous fairness. To preserve it, they are willing to sacrifice short-term advantage. Irene, in contrast, represents the M.B.A. mentality, feminist division. She wants each new balance sheet to improve on the last, and will cut dangerous corners to attain that end. And pioneering an occupation previously closed to her sex, she takes even more chances to show the guys...