Word: attractions
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Dates: during 1980-1989
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...Coleman Young and Newark's Ken Gibson, are charged with the herculean task of reviving decaying urban centers with shrinking tax bases resulting from the "white flight" of residents and the decline of traditional businesses. "Progress," says Gibson, "is maintaining the status quo." Moreover, black mayors often attract limelight that leaves them less margin for unnoticed error. Grouses Hatcher: "Blacks still don't have the right to fail as whites do without its becoming a slur on the black race...
...most successful black mayors have created strong alliances with the white business establishments in their cities. Morial worked closely with the Chamber of Commerce to attract high-tech companies to New Orleans. Andrew Young was opposed by Atlanta's business community when he ran, but after his election he wooed its leaders over lunch, telling them, "I can't run the city without...
Depressed states and cities are battling back to attract new companies with tax breaks and seed money. Cleveland is launching a $5 million venture-capital fund that will give money to new local companies. Cincinnati has put together a $15 million war chest. Illinois and Chicago set up a ten-story, low-rent "incubator building" in the city for fledgling firms. Last fall, when a group of electronics companies announced plans to launch a joint computer research center that would have an annual budget of up to $100 million, 57 cities in 27 states put in bids...
Schools like Duke or the University of Chicago have also begun to attract Black students with special merit scholarships admissions officials at the Ivy League schools and Stanford said last week. One example is student Patricia Campbell, a high school senior in Baltimore, who said yesterday that she chose to enroll in Duke over Harvard because she won a four-year scholarship which includes special summer travel programs...
...recent drop in interest rates has been the biggest single reason for the resurgence of the thrifts. As a result of that decline, the institutions are now able to attract deposit money with much lower interest rates. A year ago, they had to offer 12% or more interest on certificates of deposit to compete with the popular money-market funds. Now they are paying an average of only 8.5% on their own money-market accounts, which they have been offering since last December...