walter heard about the million dollar distress sale mansion through an unscrupulous realtor friend.
walter heard about the million dollar distress sale mansion through an unscrupulous realtor friend.
where did walter hear about the million dollar distress sale mansion?
through an unscrupulous realtor friend
through an unscrupulous realtor friend, walter learns about a million dollar distress sale mansion on the market for a mere $200,000. he and anna meet the owner, estelle, who claims she must sell it quickly because her husband, carlos, has been arrested. her sob story and insistence at keeping the place in candlelight in order to save money "for the goddamn, bloodsucking lawyers", distracts walter and enchants anna, who finds it romantic. they decide to buy it.
the money pit
first, the program sought to stimulate diversity with the "tax certificate policy." this policy worked by awarding like-kind tax exchange breaks to licensees who sell their licenses to minorities. this was a two-year like-kind exchange, whereby the seller would not be required to pay taxes on money made by selling their license, as long as the capital gains are reinvested into a similar communication industry within two years of the sale. in addition the second program implemented through this statement was the "distress sale policy," which held that any license owners facing scrutiny by the fcc and potential license revocation, can sell their station to a minority buyer for 75% of the appraised value. the benefit of the distress sale policy for licensees under investigation by the fcc, is that once they sell their license to a minority owner, the fcc would reward them by ceasing their inquiry into the licensee. the statement would also formalize the "comparative hearing process."
1978 broadcast policy statement on minority ownership