Word: bigs
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Dates: during 1960-1969
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...blond hair is graying and, at 50, Billy Graham tells his audiences that he is "on the sunset side now." His right index finger still slices the air magisterially, and his resonant voice has lost little of its oratorical control. The Bible still hangs open in his big left hand as he moves back from the lectern, then up to it again. The message is as sternly fundamental as ever: "God says I command you to repent." Still, something was missing last week as Graham crusaded in Manhattan's new Madison Square Garden. Time and repetition have mellowed...
Warning from Treasury. Economist Norman Strunk, executive vice president of the United States Savings and Loan League, faulted the big banks for expanding their lending during May at an annual rate of 17%. "No wonder they ran out of money and had to raise their rate," he said. "While bank presidents have been publicly wringing their hands," added Strunk, "lending officers have been pouring gas on the inflation bonfire...
Favored Customers. In the face of the obvious need to control inflation by restricting lending, the big banks have been circumventing the Federal Reserve's credit-tightening measures. To keep favored customers happy, they have even been willing to pay more for some funds than they can get by lending them out. Abroad, the banks have paid as high as 13% to borrow and bring home Eurodollars...
...their consternation, the Japanese have discovered that auto safety is not only a U.S. issue. A check by the New York Times with the U.S. National Highway Safety Bureau disclosed last month that the Japanese Big Two-Toyota and Nissan-had been secretly recalling defective cars sold in the U.S. Alarmed, the Japanese Diet demanded that all twelve Japanese automakers reveal the extent of engineering flaws. Public dismay grew as both the press and the national police began investigating accidents that could have been caused by defective cars...
...been forced to retire. Magnin's expansionary plans have the backing of its powerful parent, Federated Department Stores, Inc. whose 97 stores include Filene's in Boston, Foley's in Houston and Bloomingdale's in New York. Federated Chairman Ralph Lazarus, 55, figures that a big acquisition program would stir up the trustbusters, so he aims to double Federated's $1.8 billion in sales over the next decade mainly by internal growth...