Word: writeoffs
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Beyond Control? With the 7% investment tax credit plus fast tax writeoff on their equipment, most leasing companies show quick profits in their early years. GC Computer, a Greyhound Corp. subsidiary and largest of the five leasing concerns listed on the American Stock Exchange, reported a 47% gain in earnings last year; the price of its stock jumped from 91 to 41 at one point during the spring surge. Levin-Townsend's earnings climbed mightily in the fiscal year ended in March, and its stock price rose from 12 at the end of December to as high...
Wilcox noted that there is a "built-in exposure rule" within the philosophy of Harvard general education. The Faculty assumes, he said, that educational value is derived from exposure to the entire course. He added that he saw "no room for an exam writeoff under this philosophy...
...sweeping reform of tax depreciation rates.) Since then, business opposition to the Kennedy proposal has melted considerably, and the tax credit now seems likely to be enacted. One blue-ribbon industrial group, the Machinery and Allied Products Institute, did much to swing opinion by pointing out that an 8% writeoff would have as much impact, for most industries, as a 40% speedup in depreciation writeoffs. President Kennedy has also helped his own cause by speeding depreciation schedules in the textile industry and promising that further liberalization is ahead in the railroad, aircraft and machine-tool industries. Businessmen are thus coming...
...York-Chicago route. Says Patterson: "Four of us (TWA, Northwest, American and United) will be eating on a piece of cheese that five were chewing on before. This should give everybody more to munch on." Patterson will also be able to munch on a hefty tax writeoff on Capital's losses...
Unforgivable Debt. The RFC bluntly rejected Henry Kaiser's plea that it write off $85 million of the $123 million it had loaned him during the war to build his Fontana (Calif.) steel plant. Kaiser had contended that the writeoff would be in line with the $162 million loss the Government took on the war surplus sale of its $200 million Geneva (Utah) plant. Said RFC: the situations were not at all similar. U.S. Steel bought Geneva - Fontana's competitor-through open bidding long after the plant was built. But Kaiser himself built, operated and reaped the wartime...