Word: virginal
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From her second-floor offices bordering the sparkling Caribbean at Charlotte Amalie, the capital of the U.S. Virgin Islands, Catherine Sittig presides over one of the corporate-welfare system's most enduring success stories...
...company sets up what is called a foreign sales corporation. Companies can form FSCs in 32 countries designated by Congress--among them Jamaica and Barbados--or in a U.S. possession like the Virgin Islands. The company then funnels its exports (or, more accurately, the paperwork for its exports) through its offshore FSC. Presto: no federal income taxes on a portion of those export profits...
...required FSCs to be established "in any jurisdiction outside of the U.S. customs territory" and to maintain an office and hold a board-of-directors meeting once a year in the country where they were incorporated. Tourist paradises such as the U.S. Virgin Islands now began to think about bustling office buildings and banks to handle the transplants. The islands' Lieutenant Governor at the time, Julio Brady, told a Senate committee that FSCs would be "real businesses" that would employ "real people. We are not talking about dummy or paper corporations...
...also presented a conception of feminine virginity, "virginity in the old sense, like virgin woods that have not been trampled on but are full of all the possibilities of life...
...weather outside is just frightful, which means, of course, that it's time to wax those skis and snowboards (as well as that unsightly back hair). Uprising heralds the coming of the season, promising unknown destinations, first descents and the exploration of virgin terrain. Doors open at 7:30 p.m., showtime at 8 p.m., Morse Auditorium, 602 Commonwealth Ave., (near Boston University), (401) 274-0001. Tickets...