Word: bank
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Dates: during 1960-1969
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Potential riots are far from the only problem. Los Angeles recorded an 8.1% crime rise in 1967 over 1966. Because of its sprawling size, which isolates branch offices and gives any getaway car 1,000 escape routes, it is No. 1 in bank robberies. Because of its proximity to Mexico, it is the marijuana capital of the world. The L.A.P.D. seized 21 tons of grass last year, enough to orbit a good-size army. Because of its balmy climate, it has, notes the chief, a "twelvemonth crime culture...
Though Couve is almost invariably frosty in public, his small coterie of friends claim that in private he is witty, charming and downright human. He lives a quiet private life with his wife Jacqueline in a Left Bank town house, manages to arrange his work schedule so that they have lunch at home three times a week. They have three married daughters and five grandchildren. He has a dachshund named Jason, plays golf most Sunday mornings (in the 80s), and likes the movies enough to queue up with the crowds along the Champs Elysees to see the latest detective flicks...
Confident that the latest arrangement will be a success, Bank of England Governor Leslie O'Brien said after the Basel meeting: "I don't see any possibility of another devaluation." Similar faith was reflected on the foreign exchange markets, where the pound's price climbed last week from a post-devaluation...
Impressed by the strong reach of U.S. banks for global business, the Dresdner Bank has been expanding abroad in other ways. In 1965, it was the first large German bank to open a representative office in Manhattan. Last year it became the first German bank to join a major multinational banking combine when it helped to found the Societe Financiere Europeenne in Paris. The Dresdner's year-old Luxembourg subsidiary is thriving in the fast-expanding Eurobond and Eurodollar markets. Increasing its stake in Latin America, the bank last year bought an interest in local banks in Brazil, Chile...
Transforming the Clerks. "We have been trying to broaden our business," says Managing Director Erich Vierhub, 66, "and now we are harvesting the first successes." One of Vierhub's main aims is to "transform staid bank clerks into money salesmen"-a formula that works at home as well as abroad. One of the Dresdner's mutual funds, Concentra, has grown into the country's second largest (assets: $226 million). From its coequal headquarters in the cities of Frankfurt, Dusseldorf and Hamburg, the bank has opened 650 branches across West Germany, adds new ones at the rate...