Word: annually
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Dates: during 1960-1969
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...from the Debris. While they look toward that kind of help, insurance companies plan to continue another phase of their operations in the ghettos. Since last September, when they pledged to divert $1 billion of their annual $16 billion flow of investments toward slum areas, over $350 million has been committed for a total of 26,588 housing units and 7,551 permanent jobs. Among the projects: a $4,500,000 low-income cooperative rising on nine acres of cleared land in debris-strewn Newark, $8,500,000 to construct 530 single-family houses in Chicago, and $15 million...
Such contributions, to be sure, are no giveaway. Housing loans are insured against loss by the Federal Housing Administration, or backed by a state agency, and provide for a 6% annual return. But as slums are renewed with insurance company help, the insurers figure that slum businesses will once more become reasonable risks...
Modern corporations usually make it a practice to prepare carefully for any change in command. But few are as forehanded as Merrill Lynch, Pierce, Fenner & Smith, the Thundering Herd of Wall Street. The biggest brokerage house in the world, with 170 offices and a $369,443,000 annual business with 914,000 active customers, Merrill Lynch announced last week that it was beginning to transfer leadership of the Herd to a group of executives who have been on the street only since World War II. The heir apparent for the top job has not only been grooming...
...machines. But the partners split up two years later when Gaggia's limited-production philosophy clashed with Valente's go-for-broke ideas. Gaggia went on to establish his own company, which has run a poor second to Valente's Faema. Last week at the Faema annual meeting in Milan, Valente proudly reported to shareholders (mostly family) that sales were $27.9 million in 1967 (up $6,500,000 from 1966). Faema coffee is now brewed in 54 countries; besides his Milan plant, Valente now has manufacturing operations in Barcelona, Paris, Frankfurt and Zurich...
...bromides go, there are always new ones to take their place. The evening offered many reminders that this was the end of the Academy Awards' fourth decade. Having reached supposedly mature middle age, the Academy might do itself and everyone else a favor by abandoning its annual orgy of puffery-or at least by doing it in style...