Word: bankes
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Dates: during 1970-1979
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Saturday at 11:45 a.m., meet, along with all the other people who read this article, at the kiosk in Harvard Square. When the clock above the Cambridge Savings Bank shows noon, make a dash for the Pro. If you are lucky enough to be the first one in the door, ask the man at the counter for your free case of Canadian Club...
A.C.T.W.U.'s strategy was simple: unions threatened to withdraw more than $ 1 billion of funds and deposits from the bank if Stevens men continued to sit on the bank's board. So Stevens Chairman James D. Finley and David W. Mitchell, a Stevens director and chairman of Avon Products Inc., announced that they would get off the board when the bank re-elects directors next month. Mitchell pleaded the press of other business, but Finley told a different story to reporters attending the Stevens annual meeting (which was moved to Greenville, S.C., apparently to escape the attention...
...Rogers, A.C.T.W.U.'s corporate campaign director, who is out to get other financiers to break their links with Stevens. His next goal is to force Mitchell, R. Manning Brown Jr., chairman of New York Life Insurance Co., and E, Virgil Conway, chairman of the Seamen's Bank for Savings in New York, to quit the Stevens board. That may not force Stevens to sign a union contract quickly, but management is under financial as well as personal pressure. The boycott may be telling. Though Stevens' sales have been rising, profits dropped 14% in the past fiscal year...
...finance its strategy of building up a defense, energy and industrial infrastructure, the government arranged so many bank loans that by 1976 it owed $7.6 billion. In recent years U.S. banks have supplied an every-increasing proportion of these loans as the Vorster government's international credit rating declined. Without American support, South Africa could not have financed the development program it adopted which now makes it much easier to keep down black unrest and resistance...
...foreign investment in South Africa," and to work within the apartheid system to bring about changes in racial policies. It urges the denial of tax credits to U.S. firms in South Africa not actively striving to improve the lot of its non-white workers, the end of export-import bank guarantees of U.S. bank loans to the South African government, and the curtailment of Commerce Department activities directly or indirectly helping American firms choosing to operate in South Africa...