Word: banke
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Dates: during 1960-1969
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...substance, the formal welcome of the new U.S. President to Paris will be gracious and el egant. Parisians will be treated to the rare sight of the U.S. flag flying over the Foreign Ministry instead of the customary tricolore. The austere Quai d'Orsay palace, on the Left Bank between the National Assembly and the Invalides, will be turned over to the Nixon party during his stay. The palace walls are decked with priceless Gobelin and Beauvais tapestries, the floors with Savon-nerie carpets. The cellars are stocked with champagne, which no doubt will be poured when De Gaulle escorts...
Highest and Lowest. Americans are undoubtedly the world's highest-paid people, though Europeans and Japanese collect far flossier fringe benefits. Still, a $7,000-a-year bank teller hardly feels happy about the fact that he may be earning 25% more than his Continental counterpart. The human tendency is to gauge compensation not by one's needs but by the relative pay of peers-countrymen, colleagues and neighbors. Many truck drivers last year earned more than $15,000, thanks to the Teamsters' knack of squeezing out the most in wage negotiations. Human nature being what...
Similarly, executives of commercial banks earn about one-third to one-half as much as investment bankers, who are essentially in business for themselves. A vice president at a big New York City commercial bank may earn as little as $25,000 a year, though he can hope to become a major bank president at $250,000 or so. Partners at Lehman Brothers and other investment banking houses can earn $500,000 or more a year. Their incomes depend upon how much capital they contribute to the firm and the size of the mergers, underwritings and other deals that they...
...that De Gaulle, if forced to devalue, might not stop at a reasonable 10% change in parity but insist capriciously on 20% or more. That would give France an enormous trading advantage, and force a competitive devaluation of other currencies. As David Rockefeller, president of the Chase Manhattan Bank, said in London last week, the franc is "the key currency. If you could guarantee that nothing will happen to the franc this year, you could guarantee there would be no monetary crisis...
...know-how attained, money remains the other obstacle for black business. A Roxbury businessman, encountering difficulty collecting collateral for a bank loan, asked Williams for backing. Freedom Industries sold him old supermarket shelving, refrigerators, and cases at $1000, and the bank, accepting his acquisition as collateral equal to $9000, granted him the loan...