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A 1989 review by Karen Burstein, the city's auditor general at the time, found that Mr. Trump and Hyatt owed the city $2.9 million for 1986, having used "aberrant and distortive" accounting methods to reduce their obligation.
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Their analysis of Neo Bankside's planning history tells a story of developers relentlessly trying to reduce their obligations, and a council all too willing to let them.
It is an unnecessary gesture towards a constituency that would not be satisfied even if he reduced their obligations to zero, and an indirect acknowledgement of the power of money.
For example, companies are considering changes to their pension plans that would reduce their financial obligations.
Many companies are also considering ways to reduce their pension obligations to workers, possibly undermining benefits for millions.
The airline points out that some other companies have been able to reduce their pension obligations in bankruptcy court.
Many workers still have pension plans, though that number will dwindle as companies increasingly seek to reduce their pension obligations.
The Rockies wanted to shed the remaining six years and $84.5 million on Hampton's contract, while the Marlins wanted to reduce their financial obligations in the immediate future.
Companies with losses may have assets that can be used down the road to reduce their tax obligations on future profits.
Banks' refusal to write down these loans has made it harder for average borrowers to reduce their mortgage obligations, leaving them in financial distress or limbo and dinging their ability to be the reliable consumers everyone wants them to be.
C17 BUSINESS DAY C1-16 Questionable Pension Measure A bill pending in Congress would allow companies with union workers to reduce their pension obligations by billions of dollars, because statistics show that most blue-collar workers do not live as long as other Americans.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com