Word: writedowns
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Through Meyer would not name the 21 venture capital positions that were sold to Landmark Ventures, a venture capital investment company in Hartford, he said that the positions were "not a significant part of the [October] writedown...
...opinion that spelled harder times for thousands of publishers and their authors. In Thor Power Tool Co. vs. Commissioner of Internal Revenue, the court ruled that the company could not claim a reduced value on warehoused stock in order to lower its taxes. The accounting procedure, known as a writedown, was a standard legal loophole. Its plugging has allowed the IRS to move with its customary even heavyhandedness. "All the IRS is doing is carrying out regulations, that have been in force for many years," counters Jerome Kurtz, commissioner of Internal Revenue...
...free-wheeling in 1930, the first convertible top (1924), full power mufflers (which increase horse-power), 90% elimination of motor roar by a carburetor silencer, ball-bearing spring shackles, hydrostatic gas gauges. Figure-wise Mr. Erskine last spring saw that the plants were overvalued, ordered a $16,000,000 writedown (TIME, April 4). Like many another western executive Russel Erskine is at his office before 8 a.m. But he often interrupts the day to play 18 holes of golf after lunch, returning then to his desk...