Word: accounts
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Dates: during 1970-1979
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Financial officers cannot stem inflation, nor can they control federal grants or guarantee a high level of alumni giving. The only sources left for them to draw on are student fees and the endowment. Harvard's financial strategy takes into account not just the Class of 1980 but the Class of 2080 as well. As a result, the administration tends to treat the endowment as a sacred cow: in accordance with classic accounting principles, college financial officers avoid dipping into the principal of the endowment...
Among the requirements of the recent laws: creditors must spell out interest, financing and other charges. A department store, for example, must inform buyers that the interest charge of l½% a month on the unpaid balance in a revolving-credit account amounts to 18% a year. Debtors may withhold payment of a bill they believe to be incorrect, and the creditor must explain the billing within 90 days. A credit cardholder is liable for only $50 in purchases that someone else charges on a lost or stolen card. If a merchant or lender turns down an application for credit...
...lowest rate was offered by a Pasadena savings and loan. If the salesman had $2,000 or more in a savings account, he could borrow on his passbook and pay 1 % more in interest on his loan than he received in interest on his savings. The high-end 22% rate was quoted by a finance company in Los Angeles. Some rates in between...
...Loose. Ferrer's imagery has always been audacious and aggressive; its colors are about as subtle as the parlor of a San Juan cathouse. But its ambition is unshakable, even obsessive: to render an account of exotic travel as refracted through a Puerto Rican background and an ironic, modernist education. As his best exegete, Art Critic Carter Ratcliff, points out, "It is as a practitioner of a dramatic, restless, 'tropical' version of the sublime that Ferrer can best be understood." The work is hot salsa too, theatrical and loose. In his way, Rafi-as his buddies call...
...article, tell me what it said, and write me a couple hundred words on it in proper English." Adds Alabama State Senator Bill King, who has just introduced a minimal competency bill: "Taxpayers see so much money going into education yet producing students without basic skills. Legislators want to account for all of that money...