The Fine Print: How Big Companies Use Plain English to Rob You Blind

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The Fine Print: How Big Companies Use Plain English to Rob You Blind Page 38

by David Cay Johnston


  Rand, Ayn, 152

  Random Walk Down Wall Street, A (Malkiel), 193

  Ray, Billy, 56, 58

  ReadyReturn, 227–28, 229–33, 269–70

  Reagan, Ronald, 20, 92, 201, 209, 210, 216–17, 243, 248

  Redmiles, Melissa, 211

  Redstone, Sumner, 222

  Reese, Kern A., 77, 87, 88–89

  Regan, Lillian, 84, 85, 86

  regulation, 34–35, 36, 241, 245, 267

  asymmetry in, 52

  of banks, 150–51

  policy statements in, 95

  Rehnquist, William, 25

  Renaissance Technologies, 204

  repeat player problem, 163–64, 266–67

  Republic Services, 128–29, 132, 139, 140–41

  retirement system, 23

  Reuters news agency, 252

  Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft, 121–22

  Rhode Island, 222

  Ribley, Warren, 235–36

  Rio de Janeiro, 133

  Rittenhouse, Charlie D., 116–17

  Roberts, John Glover, 25–26, 162, 175, 176, 273

  Rochester, N.Y., 81–82, 130

  Romer, Paul, 153

  Romney, Mitt, 9, 189, 204, 205, 251

  Rooney, Philip J., 178, 179, 180

  Roosevelt, Theodore, 142

  Rosenbloom, Dick, 131

  Royal Dutch Shell, 105

  royalties, charged by shell companies, 237

  Ruane, Jim, 114, 115

  Rumke Consolidated, 141

  Sacramento Municipal Utility District, 265, 266

  safety inspectors, 174–75

  safety waivers, 114

  Sam’s Club, 173

  San Bruno, Calif., 106, 115

  San Diego Gas & Electric, 72

  Sandlin, Jimmy, 58

  Sandrik, Karen, 161, 162

  San Francisco Chronicle, 72, 121

  San Lorenzo River, 121

  San Lorenzo Valley Water District, 122

  Santa Clara v. Southern Pacific Railroad, 24–25

  savings and loan crisis, 151, 153, 242

  Saxon, Stephen M., 185

  Scalia, Antonin, 26, 163, 175

  Schering-Plough, 214–15

  Schmidt, Eric, 235

  Schneiderman, Eric, 1

  Schwartz, Alan G., 159

  Schwarzenegger, Arnold, 97

  S.C. Johnson, 220, 236

  Scorse, Gerald, 272

  Scottsboro, Ala., 58, 260

  Securities and Exchange Commission, 16, 52, 102, 138, 193–94, 202

  Seeber, Joe, 77–89

  Entergy’s suit against, 86–89

  Senate Banking Committee, 150

  Sentelle, David B., 90, 93–94, 95, 96–97, 98, 99, 101

  September 11, 2001, terrorist attacks, 170–71

  settlements, used to hush up problems, 164

  Seventh Circuit Court of Appeals, 241

  SFPP, 93–94, 95–96, 97

  shadow banking systems, 145

  Shelf Project, 99

  Shields, Jeff, 74, 75–76

  Siemens, 9, 234

  Simon, James, 204

  Simon, Timothy Alan, 97

  Sinai, Allen, 210, 212

  Skype, 53

  smallpox, eradication of, 137

  Smith, Adam, 38, 55, 80, 136, 139, 243, 259

  Smith, Greg, 170

  SNL Kagan, 54

  Social Security Administration, 21, 187, 256

  Solow, Robert, 200–201

  South Carolina, 238

  Southern California Edison, 72, 73, 265

  Southern Pacific Communications, 3

  Southern Pacific Railroad, 2–3, 24–25, 273

  South Fulton, Tenn., 134

  South Korea, 23, 60, 62

  South San Joaquin Irrigation District, 73, 74–76, 266

  Spalter, Samuel, 177, 178, 179

  specialization, benefits of, 136, 189

  Spence, Michael, 61–62

  Spielberg, Steven, 222

  Sponseller, Dan, 70–71

  Sprint Nextel, 3

  Staggers, Harley, 31

  Staggers Rail Act (1980), 35, 43, 47, 48

  “standard form” contracts, 157

  state income taxes, 9, 234, 236

  State Tax Notes, 97, 99

  state utility commissions, 66, 80

  Statistics of Income, 206

  Stein, Norman, 185

  stimulus package (2009), 253

  stock options, 191, 198, 214

  stranded costs, 68–69, 70

  streetlights, 78, 82, 83–84

  Strickland, Tony, 232

  Strickler, Sheri, 163–64

  Strine, Leo, 169–70

  Strobel, Ernestine, 157–59, 266

  subsidies, 133–34

  corporate, 8–9

  Subway, 159, 266

  Sullivan, Martin, 216

  Sunoco, 91

  Supreme Court, California, 11

  Supreme Court, Montana, 159, 160

  Supreme Court, U.S., 10, 25–26, 155, 156, 159–60, 175–76, 272, 273

  class actions and, 162–63

  Supreme Court, West Virginia, 175

  Surface Transportation Board (STB), 32, 33, 34–35, 36, 40, 41, 42–43, 45

  Sutter Hospital, 180, 181

  tax accounting, 197–201, 202, 270

  tax auditors, 238

  tax credits, 225–26, 237

  Tax Credits LLC, 226

  tax cuts, 209–10, 248, 253

  tax deferrals, 270–71

  taxes, 38, 90–99, 196–207, 248, 251, 269–72

  benefits of higher, 133–41

  capital gains, 21, 205

  corporate income tax rate, 38, 71–72

  delayed payment of, 196

  in electric utilities, 68–70

  garbage collection and, 129–33

  gift, 205

  income, 199

  monopoly utilities and, 71–76

  offshore profits and, 210–17

  paid by American Water, 125

  progressive, 18

  property, 129, 237

  state income, 9, 234, 236

  utility-consumption, 263–64

  workers’ compensation, 136

  tax havens, 211, 215, 216, 220

  Tax Incentives Alert, 237–38

  tax loopholes, 186

  Tax Notes, 216, 232, 239

  Taxpayer Freedom to File Protection Act, 232

  Taxpayer Protection Act (1998), 233

  tax preparation industry, 227–33

  Tax Reform Act (1986), 92

  tax shelters, 202

  Tea Party, 24

  Telecommunications Act (1996), 56

  telemarketing companies, 4

  telephone bills, 1–2, 5–6, 51

  extra charges on, 3–4

  misunderstanding of, 6–7

  telephone industry, 1–8

  fiber-optic network created by, 50–51

  record keeping in, 52

  Telescripps, 55, 56–57

  Tennessee, 134

  Tepper, David, 204, 205

  terrorism, pipelines and, 113

  Theofanous, Theo, 111–12, 114

  Thomas, Clarence, 26

  Thomas, Kenneth, 9

  Tilden, Kevin, 124

  Time Warner, 56, 60

  Transactional Records Access Clearinghouse, 229, 238

  Transportation Department, U.S., 12, 108, 109, 112, 114

  Trapp, George J., 184–85

  Treasury, U.S., 245

  Triangle Shirtwaist Company, 136, 173

  trickle-down economics, 20, 243

  Trieweiler, Terry N., 159, 160–61

  TriStem Consulting, 78–79, 81, 82, 83–84, 86–87, 88

  Trump, Donald, 237

  trusts, duty of, 18

  truth-in-billing policy, 6

  Tsiorvas, Stephen, 105, 106

  TurboTax, 228, 229–33, 269

  Turk, Ron, 130


  Tyco, 20

  Tytler, Alexander Fraser, 208

  UBS, 150

  unemployment, 22, 208, 250, 252–53

  Union Pacific Railroad Company, 39, 42, 43, 44, 45, 46, 48

  unions, 147, 245

  United Steelworkers Union, 166

  Universal Studios, 218, 219, 222

  Upper Big Branch mine explosion, 174

  utilities, 67, 72, 260–66

  average equity of, 80

  executive salaries in, 265

  holding companies and, 67–68, 260–62, 265

  overbilling by, 82–83

  progressive consumption tax for, 263–64

  public takeovers and, 266

  ratemaking proceedings and, 264–65

  see also specific utilities

  Utilities Mutual, 177–81

  utility-consumption tax, 263–64

  Utility Rate Network, The (TURN), 7

  Utility Workers Union of America, 116, 125

  Vanderbilt University, 147

  VanDerhei, Jack, 187

  Vanguard, 189

  Venice, 190–91

  Ventry, Dennis, 232, 269

  Verizon, 8, 51, 53, 237, 268

  Verizon Wireless, 4

  Vermillion, S.Dak., 116

  Viacom, 222

  Viagra, 211, 212

  Virginia, 232

  Visa, 143, 268

  Vonage, 53

  wages, 21–23, 250, 252, 253–58

  median vs. average, 253–55

  per capita, 257

  stagnation of, 54

  Wall Street Journal, 152, 252

  Wall, Terrence, 206–7

  Walmart, 23, 134, 162–63, 173

  Waste Management, 128–29, 132, 138, 140, 141

  water companies, 118–27

  water systems, 118–27

  privatization of, 119–24, 126

  Wealth of Nations, see Inquiry into the Nature and Causes of the Wealth of Nations

  Weimer, Carl, 109, 115

  Weiner, Joann M., 213

  Weisbenner, Scott, 192

  Weisshaar, Ben and Rita, 64–65

  Welch, Jack, 202

  Wells Fargo Bank, 11, 154, 164, 244

  Whatcom Falls Creek, 105

  Williams Companies, 102

  Wired for Greed (Seeber), 87–88

  wire maintenance fee, 5

  Wisconsin, 119, 220, 224, 236, 238

  film industry tax breaks in, 218–22

  Wisconsin Commerce Department, 221–22

  Wood, Liam, 105

  Wooden, John, 240

  worker safety, 135–36, 173–74

  workers’ compensation, 136, 172, 176–83

  Workers’ Compensation Board, New York, 179

  World War II, 245

  Wulff, Kurt, 102–3

  Wyatt, Dennis, 75–76

  Wyoming Corporate Services, Inc., 14

  Yahoo, 237

  Zuckerman, Deborah, 160

 

 

 


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