Word: bankes
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Dates: during 1970-1979
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Attorney General Griffin Bell had argued for months that his own people in the Justice Department could objectively investigate the loans, upwards of $4.6 million, made by Bert Lance's Atlanta bank to the Carter peanut warehouse in Plains, Ga. It was a hard argument to sustain. Not only was Bell a Democrat, of course, but he was an old friend of the Carters' and of Lance. Faced with increasing criticism, Bell last week finally decided to put the probe into other hands. His choice was highly qualified: Paul Jerome Curran, 45, who not only is a Republican...
...concluded that after-tax earnings, adjusted for the effect of inflation on depreciation and inventories, rose only 10.9% from the fourth quarter of '78. Meanwhile, New York City's Citibank separately calculated that real earnings from operations over the whole year rose only 2½%. Said the bank's Monthly Economic Letter: "Despite glowing earnings reports, many U.S. corporations are scrambling desperately to hold even against the inroads of inflation...
...savings account. Had Phineas T. Barnum lived today, his famous dictum might well have been: There's a saver born every minute. In the inflationary 1970s, savers are suckers who stand to lose. If inflation should continue at February's 15.4% rate, every dollar put into a bank at 5¼% interest will become 91.4? in real money a year from now-and a lot less than that after taxes are paid on the interest...
Poor Patty Hearst. Kidnaped, tortured, terrorized, brainwashed, on the lam, captured, tried for bank robbery, imprisoned until sprung by presidential commutation, and now this. Engaged to marry San Francisco Policeman Bernard Shaw, a former bodyguard, on April Fools' Day, Hearst had selected a $1,000 gown by New York Designer Frank Masandrea. But last week Patty and parents abruptly chose another. It turned out that exclusive rights to posing Patty in the gown and covering the ceremony had been sold to Look magazine. Alas, United Press International, pitting ingenuity against pocketbook journalism, discovered and printed sketches of the bride...
...McLean Clifford, 74, former president of Curtis Publishing whose frugal reign failed to resuscitate the financially ill company, leading to the 1969 demise of its flagship magazine, the Saturday Evening Post; of cancer; in Santa Barbara, Calif. A lawyer, Clifford became president of the Philadelphia company in 1964, inheriting bank debts totaling $37 million. Though he showed a small surplus in 1966, he was unable to stem further losses and was ousted...