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Khalid Swift
Khalid Swift

Ventures 1 Student Book 193

Prior to 1941, petitioner was a construction superintendent and an estimator for a lumber company, but, during that year and over the next several ones, he was instrumental in forming, and was a member of a series of partnerships engaged in, the construction or construction supply business. In 1949 and 1950, he was an original incorporator of seven corporations, some of which were successors to the partnerships, and, in 1951, he sold his interest in the corporations, along with his equity in five others in the rental and construction business, the profit on the sales being reported as long-term capital gains. In 1951 and 1952, he formed eight new corporations, one of which was Mission Orange Bottling Co. of Lubbock, Inc., bought the stock of a corporation known as Mason Root Beer, [Footnote 3] and acquired an interest in a related vending machine business. From 1951 to 1953, he also bought and sold land, acquired and disposed of a restaurant, and participated in several oil ventures.

ventures 1 student book 193


Petitioner made sizable cash advances to Mission Orange in 1952 and 1953, and, on December 1, 1953, the balance due him, including $25,502.50 still owing from his sale of the bottling assets to the corporation in July, 1951, totaled $79,489.76. On December 15, 1953, petitioner advanced to Mission Orange an additional $48,000 to pay general creditors, and, on the same day, received a transfer of the assets of the corporation with a book value of $70,414.66. The net amount owing to petitioner ultimately totaled $56,975.10, which debt became worthless in 1953, and is in issue here. During 1951, 1952, and 1953, Mission Orange made no payments of interest, rent or salary to petitioner, although he did receive such income from some of his other corporations. [Footnote 5]

Student Learning Outcomes: After taking this course, students will be able to analyze the life-cycle environmental and economic implications of products, processes, and services using state-of-the-art methods, make decisions with confidence, document their analysis in a structured and transparent way, and be cognizant of the policy dimensions of decisions needing LCA.

Share an intellectual experience with faculty and students by reading "Interior Chinatown" over the summer, attending author Charles Yu's live event on August 26, signing up for L&S 10: The On the Same Page Course, and participating in fall program activities.

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In 1974, the ship recovered a portion of K-129, but as the section was being lifted to the surface, a mechanical failure in the grapple caused two-thirds of the recovered section to break off.[8] This lost section is said to have held many of the most-sought items, including the code book and nuclear missiles. The recovered section held two nuclear-tipped torpedoes and some cryptographic machines, along with the bodies of six Soviet submariners, who were given a formal, filmed burial at sea.[9]

A subsequent movie and book by Michael White and Norman Polmar (Project Azorian: The CIA and the Raising of the K-129) revealed testimony from on-site crewmen as well as B&W video of the actual recovery operation. These sources indicate that only the forward 38 ft (12 m) of the submarine were recovered.

While the ship had an enormous lifting capacity, there was little interest in operating the vessel because of her great cost. From March to June 1976, the General Services Administration (GSA) published advertisements inviting businesses to submit proposals for leasing the ship.[14] By the end of four months, GSA had received a total of seven bids, including a US$2 offer submitted by Braden Ryan, a Lincoln, Nebraska college student,[15] and a US$1.98 million offer ($7.45 million in 2021) from a man who said he planned to seek a government contract to salvage the nuclear reactors of two United States submarines. The Lockheed Missile and Space Company submitted a US$3 million ($11.28 million in 2021), two-year lease proposal contingent upon the company's ability to secure financing. GSA had already extended the bid deadline twice to allow Lockheed to find financial backers for its project without success and the agency concluded there was no reason to believe this would change during the near future.

The Unit number is the first number you see in the icon, and the Lesson number is the second number. In this case, the student is working in Unit 5, Lesson 4. To access the help resources, you would select "Unit 5" from the list above, and then look for the row in the table labeled "Lesson 5-4."

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