Word: banke
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Dates: during 1960-1969
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...drive-time man," the Real Don Steele. "My voice," he boasts, "can cut through the traffic noise." Sample: "A world premiere right here on the Real Don Steele show-boss hit-bound the Lovin' Spoonful's She Is Still a Mystery at 3:43 KHJ, break-the-bank time on the Real Don Steele show pow-pow-pow-pa-dow, umph!" Though incoherent to untutored ears, the spiel mentions all the essentials: name of the show, title of song, performer, time, station identification and promotion-all in ten seconds. Marvels one executive: "He really makes clich...
Since Beirut's overextended Intra Bank collapsed a year ago, the precarious prosperity of little Lebanon has been flattened by multiple misfortune. Despite a massive infusion of loans from the Lebanese central bank, which halted subsequent runs on Beirut's 71 other locally owned banks, foreign confidence in Lebanese banking has faltered. Many billionaire sheiks, whose deposits had helped to make Beirut the banking capital of the Middle East, moved their riches elsewhere. Tourist trade, the other principal prop of Lebanon's economy, all but vanished with the Middle East war. Now, in once bustling Beirut, sumptuous...
Last week, with a lift from Wall Street, Intra Bank prepared to rise again. Under a deal worked out by the Manhattan investment-banking house of Kidder, Peabody & Co. and approved by the Lebanese government, the bank that was once the country's largest will be transformed into an international investment company. It will take over Intra's extensive business holdings-including thriving Middle East Airlines, Beirut's port and the Phoenicia Hotel, cement plants, warehouses, casinos, a French shipyard and valuable real estate on Paris' Champs Elysees-and try to recoup the bank...
...investment company; smaller depositors are to get half their money back in cash within three years, half of it as stock. The smallest (less than $3,100) Lebanese depositors have already been repaid in cash, through a total of $15.5 million in loans from the Lebanese cen tral bank...
...long-blocked road to Intra's resurrection finally opened after British auditors found that the bank, though short of cash, was so loaded with gilt-edged investments ($217 million worth) as to be a sound long-term venture. A new Cabinet under Lebanese Prime Minister Rashid Karami fired a committee that was irreconcilably split over whether to salvage or liquidate the bank, named another that dickered with Kid der, Peabody. The key to the rescue deal was winning the consent of Intra's major creditors, notably that of Kuwaiti Prime Minister Jaber al Ahmed as Sabah, whose countrymen...