MISSILE SPENDING is picking up speed. Air Force will soon start letting $721 million worth of contracts for super radar system designed to spot incoming ICBMs, has earmarked $329 million to be spent from supplemental funds in current fiscal year. Prime contractor: Radio Corp. of America, with major help from General Electric Co. and Western Electric Co.
TAX LOSS RULES will be tightened by Internal Revenue Service. New ruling knocks out corporate shell companies, which are no longer in business but are peddled to profitable concerns for their heavy tax-loss carryovers. From now on, companies must be actively engaged in business at...
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