However, the temptation has been to invest the proceeds elsewhere.
In theory, the profits of untaxed companies would reappear as taxable proceeds elsewhere in the economy.
"Basically," Mr. Rechler explained, "over the last year, we noticed where prices in White Plains were going, and we decided that if we could, we'd sell this shopping center and deploy the proceeds elsewhere".
The ECB hoped financial institutions would invest the proceeds elsewhere in the eurozone economy and that the programme would drive down the value of the euro, making exports more competitive.
Under QE, the central bank pumps money into the eurozone by buying bonds off financial institutions in the expectation that they will reinvest the proceeds elsewhere in the European economy.
The Bank cuts interest rates by half a point to 0.5%, the lowest since the central bank was founded in 1694, and unveils quantitative easing: £75bn of newly created money will be used to buy government and corporate bonds to drag the economy out of recession (because financial institutions, who sold the bonds to the Bank, are expected to reinvest the proceeds elsewhere in the economy).
Mine, though he had sufficient survival skills, enacted the role of an underdog, a man whose every day, at school or elsewhere, proceeded through a series of scrapes and embarrassments.
While also directing myriad other shows at the Denver Center and elsewhere, Mr. Hicks proceeded through Wilson's oeuvre, directing "Joe Turner's Come and Gone" in 1991, "The Piano Lesson" (1993), "Ma Rainey's Black Bottom" (1994), "Two Trains Running" (1996), "Seven Guitars" (1997), "Jitney" (2002), "King Hedley II" (2003), "Gem of the Ocean" (2006) and finally, last year, "Radio Golf".
A detailed characterization of the PAC, and how the adsorption process proceeded have been reported elsewhere (Amosa 2015b; Amosa et al. 2016b).
