Word: bigs
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Dates: during 1960-1969
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Last week Hickel announced a long-term financing plan to help municipalities control water pollution by building up-to-date sewage plants. He has plunged into the Santa Barbara oil-leak fiasco and ruled that offshore drillers must bear unlimited liability for causing pollution and harming marine life-a big surprise from an alleged pawn of the oil companies. A year ago, Hickel was spurring exploitation of Alaska's oil-rich North Slope. Now he calls for forced-draft studies on how to "protect the fragile Arctic environment from the processes of exploitation...
...business loans has begun to taper. The Federal Reserve Board last week announced that loans at major banks declined in July for two weeks, dropping by $262 million to $78.3 billion. One consequence is that interest rates are beginning to lessen, if ever so slightly. A string of three big recent bond issues -Weyerhaeuser, National Cash and Dow Chemical-all sold at successively lower yields, ranging downward from...
...speculative stocks have been cut in half. The mutual funds are sitting on the sidelines, holding tremendous sums of cash and waiting for the market to hit a bottom. The slide has forced some brokers and bankers to make margin calls, and it is even pinching a number of big firms. As it scurried to raise new funds to meet New York Stock Exchange capital requirements, McDonnell & Co. went so far as to sell one of its three seats on the Big Board. The sale brought only $375,000, which represented a $140,000 drop in seat prices since April...
Steel executives disclaim any fixing. They argue that the job would have tied up such a large share of the facilities of U.S. Steel or Bethlehem that both companies had to add unusually large contingency costs to their bids. Defenders of the big firms also say that the smaller companies are using much low-cost Japanese steel and that the Port Authority loosened the specifications to enable the smaller firms to bid low. However, an Authority consultant maintains: "The number of tons, the character of the work, the size of the job, and the difficulty of erection were the same...
...Washington's top-dollar-a-year man brought hordes of high-powered executives to the capital to organize and run the World War II and Korean mobilization efforts. He served as informal financial adviser to five Presidents, from F.D.R. to L.B.J., and was at different times a big fund raiser for both parties. Throughout U.S. industry, scores of high executives owed their jobs to a Weinberg introduction or recommendation...