Word: bail
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Dates: during 1970-1979
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What is the YRB's mandate is to emphasize systemic change. Last spring, Saravelas gave the go-ahead to four staff members who were preparing original programs designed to meet that need: silk-screening, legal, and newsletter projects, as well as long-range plans for a bail fund project, a medical program, a youth union, and a guerilla theater group...
...company's trustees figure that merely to replace its aging equipment and roadbed the line will need from $600 million to $800 million in s new capital-a sum no bankers would be willing to advance to a bankrupt line. Few members of Congress are eager to bail out Penn Central, and the Administration opposes such a move. Full nationalization of the line is supported by some labor leaders, but has few fans in either management or Government Unprofitable and unwanted, the line will probably continue to lurch from crisis to crisis until some day, more by default than...
...chance, a federal grand jury had finally got around to indicting him for draft evasion, and FBI agents were making a routine check of his sister's home when they encountered-and summarily arrested-Pieffer himself. He is now in Seattle's King County jail, with bail...
Wary. Of more concern is a possible conflict of interest, since Litton is presently at loggerheads with the Navy because of cost overruns amounting to $547 million. Last week a congressional hearing made the point that Ash had gone to the Pentagon in June to ask for a bail-out similar to Lockheed's Government-guaranteed loan. Ash argues that contracts are handled by the Navy, not by the OMB Director, but any contracts as big as Litton's are bound to affect the budget. If a proposal came up to bail out Litton, Ash would find himself...
Some Congressmen nevertheless seriously question the propriety of the Navy using taxpayers' money to bail out contractors who have allegedly let costs get out of hand. In addition, these legislators are convinced that the Navy has been less than candid in portraying itself to Congress and the public as a tough customer for weapons suppliers...