Word: undercutting
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...objects to statehood (even if Congress were to agree to it) because it would undercut his successful Operation Bootstrap industrialization plan, which uses tax exemption to lure new industry. Under statehood, industry and individuals would have to pay U.S. income tax. Muñoz further fears that his Hispanic island would lose its cultural identity and its Spanish language-"would become only a whiff of vermouth in the martini instead of the olive." Statehood's proponents argue that it would give Puerto Rico six or seven Congressmen and two Senators, a voice in making federal laws and decisions that...
...underwrite prestigious but unprofitable deals. In Cairo last summer, when a West German firm desperately sought to win an electrical construction contract away from the East Germans, the East German representative impatiently burst out: "Gentlemen, let's stop this nonsense. I have orders from my home office to undercut any Western price-even if I have to go to practically zero...
...Recently, President J. Spencer Love of the nation's largest textile firm, Burlington Industries Inc. (52,000 employees), suggested that Congress raise the national minimum wage, now $1, to $1.25 an hour, so all mill operators would have to go up and none could chisel on wages to undercut his competitors on prices...
...novel Doctor Zhivago out of a passionate Christian conviction that salvation is possible only through the individual human spirit. He had shown that spirit in conflict with Soviet society, against which he had sharp things to say -but he had not written merely a political tract. Yet his message undercut the whole dogma of the socialist panacea, as Pasternak's Moscow editors worriedly said in their surprisingly mild 1956 letter of rejection, which was made public in Russia last fortnight...
Almost every Latin American country boasts its own airline, and some have two or three. Most of the carriers are not members-as are Pan Am and Panagra-of the International Air Transport Association, which taboos price warfare. The local airlines set fares as they please, often undercut Pan Am or Panagra by close to half. Samples: Guatemala's Aviateca charges $99 for a round trip between Guatemala City and Miami; Pan Am gets $147.60. I.A.T.A. fare for a Lima-Miami round trip is $473.40; Aerovias Panama Airways asks only $260. Aerolineas Peruanas sells a Santiago-Miami...